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Monero [XMR] mining launched by ViaBTC; 50% relaxation on the mining tax

A popular cryptocurrency mining company, ViaBTC has announced the launch of its new mining pool for Monero [XMR] September 28th. The company also wrote in its official announcement that miners with all the nodes will get 50% relaxation on the XMR mining fee for three months, ie until December 28th.

Currently, ViaBTC applies a 4% miner commission on block premiums and a 2% miner commission on transactions. In the announcement, the company wrote:

"50% FEE CUT for XMR extraction
Duration: from September 28th to December 28th 2018 (HKT).
Rules: ViaBTC miners of ALL modalities can extract XMR with a reduction of 50% for THREE months. Taxes will normally resume after the end of the promotion. "

The mining area of ​​the Monero ecosystem has a controversial history. Its mining software known as Coinhive allegedly mined Monero illegally through the exploitation of bugs by untrusted third parties.

In July it was reported that 5% of the entire Monero was illegally extracted where the encryption malware Monero was running in a large number of websites to extract the cryptocurrency, exploiting the processing power of the respective systems.

Another July statistic also suggested that 2% of all the hashing power used to extract Monero comes from different malware groups. The mining scam was not limited to random websites, but also attacked several governments and university portals.

Previously, in a fraudulent incident, it came to light that about 200,000 MicroTik routers in Brazil were hacked and destined to secretly excavate Monero. Like the previous cases, the scammers used Coinhive to extract the currency throughout the country.

In the same span of time, the famous battle video game in the arena, League of Legends was also hit by malware. The illegal extraction of Monero was discovered by a Reddit user via the Garena server where many players were found who extracted the coin without any knowledge or permission.


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Priyamvada Singh


Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.


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