World’s Largest Bitcoin Mining Pool to Launch Ethereum Mining Operation
BTC.com, the world’s biggest bitcoin mining pool, is reportedly going to launch an Ethereum mining operation that is expected to have 12% of the second-largest cryptocurrency’s hashrate inside the next 12 months.
According to Forbes the operation, a mining pool, is set to help both ethereum (ETH) and ethereum basic (ETC), with its customers being able to exchange between the two cryptocurrencies according to their preference.
BTC.com fantastically claims to have mined 21% of all newly-mined bitcoin this past year, and at press time bills for about 15.6% of the flagship cryptocurrency’s hashrate, according to Blockchain.info data. Similarly, it money owed for about 14% of bitcoin cash’s total hashrate.
Zhuang Zhong, director of the firm’s mining pool, revealed he believes launching an Ethereum mining pool is set to help expand the cryptocurrency’s network. BTC.com’s operation, he noted, is anticipated to grow to 12% of the cryptocurrency’s hashrate.
BTC.com is exceptionally owned by means of cryptocurrency mining hardware producer Bitmain, which printed an Ethash ASIC miner before this year, succesful of mining both ethereum and ethereum classic. The new mining computing device sparked a debate within the ETH community related to ASIC resistance, which hasn’t been implemented.
Bitmain, as CryptoGlobe covered, is eyeing an $18 billion initial public imparting (IPO), potentially the largest one in history. In the first quarter of this 12 months the enterprise recorded $1.1 billion in profits, helping it justify its valuation. Its upcoming IPO has been dissected by means of BitMEX research.
Ethereum is tremendously set to transition to Casper, a Proof-of-Stake (PoS) consensus algorithm that will substitute its current Proof-of-Work (PoW) algorithm. The transition apparently doesn’t worry BTC.com, as Zhong printed it’s “still viable to host a mining pool in PoS mode.”
Per the mining pool operator’s words, growing such a mining pool will be a complex task. One that is reputedly being confronted with self assurance as the operators have “a lot of hands-on trip with wallet and Ethereum smart contracts to make a PoS mining pool possible.”