OzCoin.

OzCoin was a Bitcoin mining poolMining poolA group of miners who share the work of finding blocks and split the rewards, so each gets paid steadily instead of rarely. from Australia, run by the company Ozcoin Pooled Mining Pty Ltd and its founder, known on the Bitcoin forum as Graet. It opened on 7 June 2011, saying it wanted to encourage the use of bitcoin in Australia, and later ran mining servers in Australia, the United States, Europe and China. In 2012 it found about one block in twenty, and in its busiest weeks, in 2012 and early 2013, more than one in ten.

OzCoin first split each block’s reward among its miners by the work each had done towards it. From 29 December 2011 it used the Double Geometric Method, which pays a steadier amount for each piece of work and means miners gain nothing by hopping between pools. Until 2013 it also offered pay per share, a set amount for each piece of work. Each OzCoin block’s first transaction paid the whole reward to one pool address, and the pool paid its miners from there. These were payments to the pool’s miners, separate from the transactions confirmed inside the block.

In April 2013 an attacker broke into OzCoin’s servers, defaced its website and took 923 bitcoin from its wallet. Some of the coins passed through StrongCoin, an online wallet, which seized them and gave more than half of the total back to OzCoin, Bitcoin Magazine reported. By Graet’s count 568.94 bitcoin came back and 354.06 were never recovered. On 23 April he wrote that the balances owed to miners had been restored and payouts were starting again.

OzCoin’s share of mining fell from about a tenth in March 2013 to about 2% that May, and kept falling. Its last block, 322,259, was found on 24 September 2014. No closure announcement was found: in November 2014 its site showed 25 users, in March 2015 it showed no one mining, and users in its forum thread called the pool dead. The company was later deregistered. mempool.space credits OzCoin with 4,845 blocks from December 2011, when its blocks began carrying its name.