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While prices may be down in the sewer, the mining industry is still growing at a rapid pace, with companies like Bitmain, Canaan, EBang and others doing their best to excel at a downtrend overall market. [19659002] Bitmain, the world's largest cryptocurrency company, has made progress, revealing recently that its subsidiary of BTC.com will open an Ethereum (and Ethereum Classic) mining pool in the coming days.
You might know BTC.com for its relative dominance over the Bitcoin network, which houses a robust 16% hashrate produced by BTC miners. The pool supported by Bitmain also holds a similar level of domain on Bitcoin Cash, of which the ASIC producer is a supporter, with a relatively large 14%. But now, BTC.com has unexpectedly set its sights on Ethereum's blockchain, down by only one step compared to Bitcoin in terms of market capitalization.
According to statements from The Next Web, Zhuang Zhong, the director of mining at BTC.com pool operations, predicts that his company's operations "grow up to 12% of the total hash of the ETH. in the next 12 months ". Although this goal seems rather ambitious, some believe that the Bitmain subsidiary can reach and exceed their ambitions, as BTC.com has become an integral part and a reliable name of the cryptographic ecosystem.
For now, this new pool will support Ethereum and Ethereum Classic, giving users the opportunity to automatically switch between the two resources to maximize mining profitability. Zhong then explained how exactly the pool will work, writing:
Because contracts are charged per code line executed and miners are rewarded for dedicated hashes using GHOST, Ethereum offers several premium incentives to contribute with hash power to the network. We hope to expand the Ethereum network by broadcasting these awards through our FPPS system.
Strangely, the BTC.com executive noted that the new pool will likely support the integration of the long-awaited Casper protocol from Ethereum, which will see the consent of the Ethereum network Proof-of-Work model to a model focused on Proof-of-Stake (POS). Zhong added that a pooled POS design is "still possible", but probably "will increase the complexity of designing a pool of this type since miners have to deposit Ether in the mining pool, but we have a lot of hands-on experience with portfolios. and Ethereum smart contracts to make a PoS mining basin possible. "
For those who are not aware, the Casper protocol of Ethereum will allow users to" point "their Ether, with an estimated ETH of 500-1000 at least for a solo "stalker". Thus, if BTC.com successfully passes to a PoS model, it is likely that its service will get a lot of support and set Ether.
At the start of this year, Bitmain, which plans to become public in the near future, has released the first-ever Ethereum ASIC mining machine, which has thrown many for one cycle. The ASIC, called E3, was able to focus on a graphics card of many sizes, leaving some to believe that the time of Ethereum was a tiny coin.
Following the announcement of even more ASIC EthHash, some said it was time for Ethereum to abandon ASIC support. But as it is, no move towards the ASIC resistance has been made until now
Title Image Courtesy of David Mcbee / Pexels
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