World’s Largest Bitcoin Mining Pool Launches Ethereum Operation

Altcoin News | Crypto News | Latest News

The world’s largest bitcoin mining pool is preparing to expand its horizons.

BTC.com, which produced 21 percent of all newly-mined BTC over the past 12 months and currently accounts for more than 16 percent of the bitcoin hashrate, announced on Thursday that it has opened an ethereum mining pool.

The pool will initially support both ethereum and ethereum classic, and users will have the ability to shift between the two Ethash-based cryptocurrencies to enhance profitability.

FREE CRYPTO COIN JUNKY HANDBOOK - 147 page guide covering Crypto Fundamentals, Beginners/Advanced Crypto Trading Strategies, Crypto Mining Techniques, ICO Investment strategies, and so much more.

CRYPTO TRADING STRATEGY GUIDES - Whether You're Day Trading, Swing Trading, Or Just Investing...Our Extensive Guides Will Get You To Where You Want To Be.

“Because contracts are charged per line of executed code and miners are rewarded for dedicated hashes using GHOST, Ethereum provides multiple different reward incentives to contribute hash power to the network,” said Zhuang Zhong, director of BTC.com’s mining pool.

“We hope to expand Ethereum’s network by relaying those rewards through our FPPS system. By competing to provide the best reward margins along with our product development, we expect mining operations to grow to 12% of ETH total hashrate in the next 12 months.”

bitcoin mining stats
BTC.com is the largest bitcoin mining pool. | Source: CoinDance

BTC.com is one of two mining pools owned by Bitmain, the dominant manufacturer of ASIC mining hardware. Earlier this year, Bitmain released the first ASICs compatible with the Ethash mining algorithm, which previously had been mined primarily with general purpose GPU chips.

The announcement prompted a heated debate within the Ethereum community over whether the cryptocurrency should fork to maintain ASIC resistance, but, as of yet, this has not happened.

Notably, BTC.com also said that it is not concerned about Ethereum’s planned transition to Casper, a Proof-of-Stake (PoS) consensus algorithm that will replace its current consensus model, with is secured by the Proof-of-Work-based (PoW) Ethash algorithm.

THE COMPLETE IDIOTS GUIDE TO MARGIN TRADING ON BITMEX - Beginner Strategies for Generating Consistent Profits with Margin Trading on Bitmex

TOP 3 BITCOIN CASINO & SPORTSBETTING SITES OF 2018 - Looking to Have a Little Fun with Your Crypto? Check Out the Latest & Most Innovative Crypto Gaming & Sportsbetting Sites on the Web

Commenting on BTC.com’s plans for when Ethereum begins migrating to PoS, Zhuang Zhong said, “it’s still possible to host a mining pool in PoS mode. It will increase the complexity to design such a pool since miners need to deposit ether to the mining pool, but we have a lot of hands-on experience with wallet and Ethereum smart contracts to make a PoS mining pool possible.”

Leave a Comment

Latest Crypto News

Coinbase Now Has Its Own Political Action Committee

Coinbase Firmly Denies Accusation of Proprietary Trading

Cryptocurrency exchange operator Coinbase has denied that it engages in proprietary trading and that these activities account for a large percentage of the firm’s overall trading volume. Yesterday an investigation into cryptocurrency exchange policies and

Pot Stocks Go Parabolic as Crypto Markets Cool

Pot Stocks Go Parabolic as Crypto Markets Cool

The cryptocurrency markets are nine months into a bear market, but the animal spirits that drove the bitcoin price to nearly $20,000 haven’t disappeared. Rather, it seems that they have found a new outlet —

Most Complex dApp on Ethereum Already Has Millions of Dollars at Stake

Ethereum Wallets are Enabling Transaction Scheduling, Killer Feature

MyCrypto, a non-custodial Ethereum and ERC20 token wallet created by the co-founder of MyEtherWallet, has integrated a feature that enables Ethereum users to schedule ETH transactions ahead of time. On MyCrypto, an open-source wallet that is structurally similar

How Ethereum Hackathons are Drastically Improving Blockchain Systems

How Ethereum Hackathons are Drastically Improving Blockchain Systems

Since mid-2017, Ethereum hackathons have been held in many major cities across the globe, to encourage the development of decentralized applications (dApps) and blockchain-based systems. ETHGlobal, the biggest Ethereum hackathon organization to date, has played a key

Nasdaq is Acquiring Crypto-Friendly Swedish Exchange Cinnober

Nasdaq is Acquiring Crypto-Friendly Swedish Exchange Cinnober

Nasdaq, the world’s second-largest stock exchange, announced Friday that it is in the works to acquire Cinnober, a trading solution provider based in Sweden. Cinnober has a history for bullishness towards digital assets and making it easier

Most Complex dApp on Ethereum Already Has Millions of Dollars at Stake

The State of Ethereum

In my latest couple of articles I’ve been kind of focused on Bitcoin and its underlying technology, the blockchain. I discussed the lightning network, why I see Bitcoin as the King of Kings and, of course, why so

BITMEX-LIQUIDATIONS-HOW-TO-NOT-GET-LIQUIDATED-REKT

Bitmex Liquidations: How to Avoid Getting REKT

Chances are, whether you’re a new or more experienced trader, you’ve a fallen victim to over-leveraged trades.  Subsequently, you’ve been liquidated due to the overwhelming urge to 50X-100X your money. Like a moth to a

Blockchain’s Popularity Among Large Enterprises Soared 11% This Year

Blockchain’s Popularity Among Large Enterprises Soared 11% This Year

New research from fintech analysts Juniper House has found that blockchain’s traction with large enterprises has risen by 11 percent this year, according to a press release published September 11. Juniper’s Blockchain Enterprise Survey: Deployments, Benefits & Attitudes (Second

Sign Up Below!
Airdroppin the Latest Crypto News, Trading Strategies, Tools, & Reviews



1
Bitcoin
Bitcoin
$6,738.61
4.49%
2
Ethereum
Ethereum
$243.99
14.47%
3
XRP
XRP
$0.5539
27.91%
4
Bitcoin Cash
Bitcoin Cash
$495.92
13.44%
7
Litecoin
Litecoin
$60.388
9.92%
9
Cardano
Cardano
$0.087715
13.89%
6
Stellar
Stellar
$0.2473
11.11%
14
NEO
NEO
$19.365
9.43%
5
EOS
EOS
$6.021
10.83%
12
IOTA
IOTA
$0.6018
10.47%

Crypto Guides & Tutorials

 Crypto Reviews

Subscribe to Our Social Media Daily Crypto Memes
Follow, Like, and Share Our Memes With The World


Pin It on Pinterest

Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
Plus Free Crypto Trading Guides, Tutorials, Latest Crypto News,
and Altcoin Reviews. (Coming Soon: Pro Trading Signals)
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
Plus Free Crypto Trading Guides, Tutorials,
Latest Crypto News, and Altcoin Reviews
(Coming Soon: Pro Trading Signals)
DOWNLOAD NOW
We hate spam as much as you do. Unsubscribe anytime.
SIGNUP FOR YOUR FREE
CRYPTO COIN JUNKY
HANDBOOK