P2share: how to turn any network (or testnet!) into a bitcoin miner

P2Poolv2 is working on a project that, while not entirely revolutionary, introduces significant changes to the original p2pool design, aiming to enhance its functionality and scalability. The initiative revolves around replicating the foundational structure of p2pool but incorporates three major modifications to optimize its performance and adaptability for a broader user base.

Firstly, the adaptation uses weak compact blocks as shares, eliminating the need for the extensive transaction broadcasting characteristic of the original p2pool implementation. This change streamlines the process, making it more efficient. Secondly, rather than relying on a linear chain, the project employs uncle blocks. This adjustment allows the pool to scale effectively, accommodating a larger number of miners without compromising the system's integrity or performance.

Another innovative aspect of P2Poolv2 is the integration of bitcoin Script, coinbase, and a transaction system into the sharechain. This inclusion facilitates a constant-sized coinbase that can support an increased number of users. Specifically, twenty large miners receive payment directly in the coinbase. In contrast, smaller miners have the option to trade their shares with either these large miners or market makers through atomic swaps between the sharechain and bitcoin. This trading mechanism is particularly beneficial for smaller miners, as it enables them to sell their shares at a discount, which is then regulated by market pricing to determine the discount amount.

As the project progresses, the team has made some of its design gists public and plans to release a comprehensive write-up once the code reaches its minimum viable product (MVP) stage. It's noted that various decisions regarding the project's direction may undergo adjustments throughout the actual coding phase. Interested parties and followers of the development can stay updated by visiting the project’s GitHub repository, available at https://github.com/p2poolv2/p2poolv2.