Bitcoin Mining Pools with a new Player

The Bitcoin Mining is more decentralized and gets a new Player – Binance. The probably most famous stock exchange has officially announced today a own Bitcoin Mining Pool. In addition, Binance plans to offer for the Mining for other Cryptocurrencies provide. The Binance Pool to cover not only Proof-of-Work (PoW), but also Proof-of-Stake (PoS) crypto-currencies. Thus, users of the Binance exchange-get more possibilities to participate in the crypto-Ecosystem.

Binance start Bitcoin Mining Pool

A few days ago Binance began with its Bitcoin Mining Pool and has already recorded the first found Block. The stock market is not planning but as in the past, the various miners that have joined the Bitcoin Mining Pool, directly on the Blockchain to pay, but on the personal Accounts on the stock exchange itself. Binance uses the well-known Pay-Per-Share (FPPS) model.In the first month Binance the miners to join the new Bitcoin Mining Pool,. The stock exchange takes no fees, and the Miner, therefore, free of charge, under the umbrella of the Mining Pools operate. This offer only runs until 1. July 2020.

In a statement on Twitter, the stock exchange said:

Binance is pleased to announce the Start of Binance Pool to announce, the Proof of Work and Proof of Stake offers for a variety of Coins and tokens. The first product offering of Binance Pool will be Bitcoin Mining, where a FPPS-payment method is used.

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Exchange builds an own Ecosystem in the Crypto Space

The new product of Binance was already announced a few months ago. It is first and foremost a value for the decentralization of Bitcoin Mining, and thus also for the entire Bitcoin Ecosystem.Getting into the Bitcoin Mining comes shortly before the Bitcoin Halving, which awaits us in just under two weeks. So Binance clearly shows that it wants to believe in the future of BTC and also in this important field position. In addition, it wants to stay away from the charges here are competitive and an Alternative to other Bitcoin Mining Pools provide.A Bitcoin Mining Pool contains several independent Miner, acting in concert, to increase the chances to find a Block. It is similar to a Lotto-tip community. The Mining Pools are originated from the increasing competition within the mining.Binance uses every opportunity to expand its product portfolio, and an All-Inn-One solution for its customers. The stock market also shows the highest volume of trade and an excellent User-Experience. In addition, the stock market has made only a few days ago headlines with the Acquisition of CoinMarketCap (CMC). The stock exchange has bought CMC for USD 400 million.We are excited to see what Features will provide Binance in the future. Of course we will keep you in this area to date. Stay Tuned.How will the Binance Bitcoin Mining Pool in the future? It helps the entire Crypto Space, or it leads to a higher degree of centralization?Come on in to our Telegram Chat and talk with the experts and the Community!
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(Image source: Shutterstock)The versions in this article, no trade recommendations or investment advice.

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