The largest Chinese mining pool is set to dominate Ethereum. The resource BTC.com, a subsidiary of the giant Bitmain, has released a new client specifically created for ether mining.
For now, this new pool will support ETH and Ethereum Classic, with miners given the ability to automatically switch their hashing power from one pool to another, based on market trends and to maximize mining profitability.
Contracts will be awarded for each line of executable code, and miners will be rewarded for allocating a hash to BTC.com. Ethereum offers various incentives for those who contribute to the network. Thus, the company plans to increase scalability and improve the performance of the entire digital infrastructure by transferring these rewards through the FPPS system.
The new pools will offer GPU and CPU options as a reactionary measure to help cope with the price drop in the crypto market this year. This is despite the fact that Bitmain has already released its own Ethereum Asics - Antminer E3. According to the company, GPU miners are versatile and profitable enough that they will not be easily replaced in the market.
According to the developers, the new pool will likely be able to support the long-awaited integration of the Casper protocol into Ethereum, the Proof-of-Stake (PoS) consensus algorithm, which is intended to replace its current Proof-of-Work (PoW) protocol. Such an integrated POS design is possible, although quite complex to design. Meanwhile, the introduction of an ASIC compatible with the Ethash mining algorithm has sparked controversy and even proposals for a hard fork to preserve the network's resistance to traditional ASICs. Overall, if the new mining pool for Ethereum is effective and cryptocurrency mining continues to grow, then BTC.com could expand its influence in the market by focusing on the top ten coins. Although BTC.com is quite selective in its choice. Any coin added must be at par in terms of the quality of its network, code, roadmap and trading volume. Today, BTC.com hosts over 16 percent of Bitcoin's hashrate, and over the past 12 months has accounted for twenty-one percent of all BTC mined.
You May Also Like
Paraguay supports the construction of the largest mining farm
The Blockchain Technology Foundation has been based in South Korea since its inception, but recently its representatives were in talks with the Paraguayan government to create something big - the world's largest mining farm and cryptocurrency exchange.
Cryptocurrency price decline could hurt Advanced Micro Devices' gaming business
It's no secret that NVIDIA and Advanced Micro Devices (AMD), the only two manufacturers of high-end GPUs, have increased their processor profits thanks to the cryptocurrency boom. Their processors are used to mine cryptocurrencies such as Ethereum and ZCash, which are created by running calculations on GPUs.
