Bitcoin Prepares for Major Mining Algorithm Change

A major change is coming to Bitcoin's mining algorithm, with a significant Proof of Work (PoW) change planned for August 30th. Luke Dashjr, a Bitcoin developer and leading figure in the Bitcoin Knots project, has indicated this date as the target for the change.

The change involves switching from SHA-2 to BLAKE2b, a different hash algorithm used in PoW calculations. However, most current Bitcoin ASIC mining devices cannot directly mine BLAKE2b, which could have serious consequences for the hardware used by a significant portion of Bitcoin mining infrastructure.

Dashjr recommends that those who want to start mining from day one after the changes should prepare in advance on testnet4 with Bitcoin Knots rc3 version. The developer also stated that if the process proceeds smoothly, the final version of Bitcoin Knots 29.4.1 will be released as planned on September 1st, and the blockchain history created on August 30th will be preserved.