Subject: [bitcoindev] V3/TRUC miner adoption

From: Peter Todd <[email-masked]>
Date: Wed, 4 Jun 2025 11:35:37 +0000

FYI I ran a short experiment with my Alice OpenTimestamps calendar to see what
% of hash power was mining nVersion=3 (TRUC) transactions. I was upgrading the
Bitcoin node on the Alice calendar to v29.0 and was curious.

The following transactions were broadcast with nVersion=3 over the course of
about 20 hours:

5033d1e0af974d71d26107f564c3c7299848fd3de5dbace2902dd7a3ee808e20 	

...every transaction was mined by either Foundry USA (28% hashpower), F2Pool
(10%), or MARA (8%).

Notably, Antpool does not appear to mine V3 transactions - it missed multiple
opportunities at high fee-rates. Presumably that's true for Antpool proxies as
well.

I don't know if Foundry USA or F2Pool is actually following the TRUC
standardness rules; I suspect MARA is not based on my discussions with them
about how their backend works.

It's possible that poor propagation is the issue here. But up-to-date Libre
Relay nodes also relay V3 transactions, and they're currently quite well
connected. I'm sure Antpool runs enough nodes that if they accepted V3, they'd
be getting them.

This was just a short test so there's a good chance I missed some smaller
miners who would have mined V3/TRUC transactions; given the lack of hash power
mining V3 I'm going to switch it back later today to avoid delaying timestamps
unnecessarily.

If this information was useful to you, feel free to send some sats to pay for
OTS transaction fees:

https://geyser.fund/project/opentimestamps
https://alice.btc.calendar.opentimestamps.org/

-- 
https://petertodd.org 'peter'[:-1]@petertodd.org

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