Stratum V2 x Cashu: A New Accounting Layer for Hashpower

About this episode

The episode explores the integration of Stratum V2 and Cashu ecash for a new accounting layer in Bitcoin mining.

I’m kicking off The Average Bitcoiner with a deep dive into my Ehash experiment: marrying Stratum V2 pooled‑mining shares with Cashu ecash to create a private, liquid IOU for work-in-progress hashpower. I walk through how mining shares are “almost blocks,” why they’re basically worthless until a payout, and how issuing ehash against validated shares can function like a pool’s accounting database—only open, auditable, and privacy-preserving. We explore the moving parts: locking ehash to an hpub, discovering and redeeming quotes, rotating Cashu keysets on each payout epoch, and why immediate keyset rotation lets mining continue without downtime while the previous epoch settles and melts to sats over Lightning. I also share a status update from the lab: wiring a Bitaxe via ESP‑Miner into a Stratum V2 translator and job declaration client, validating that ehash credits appear, and aiming next at full redemption via CLI before tackling a mobile wallet fork. Along the way, I touch on the broader context—variance smoothing and credit in mining pools, why Cashu (and Fedimint) can bridge to Lightning, the role of Rust, Noise, and keyset expiry, plus some practical dev tooling. The goal…

People in this episode

Host: Average Bitcoin

Topics covered

• Bitcoin mining
• Stratum V2
• Cashu ecash
• hashpower accounting
• privacy in mining
• economic size in mining
• dev tooling

Keywords

• hashpower
• mining shares
• payouts
• variance smoothing
• credit
• Rust
• Noise
• keyset rotation
• Lightning

Mentioned in this episode

Organizations: Cashu, Fedimint

Products: Stratum V2, Bitaxe, ESP‑Miner, CLI

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