Tag: Mining Pool

KuCoin Launches Mining Pool With Eco-Friendly Incentives

by Cryptobriefing


Share this article



Crypto exchange KuCoin has announced the launch of a Proof of Work mining pool, promising fee discounts to miners using renewable energy. 

KuCoin Launches a Mining Pool 

KuCoin, the sixth largest crypto exchange by volume, has announced the launch of a Proof of Work mining pool. The move follows similar plays from Binance, OKEx, and Huobi; which have all previously launched their own mining pools. 


The new pool claims to offer lower mining fees and more efficient rewards for participants. Anyone connecting more than a petabyte of hashpower can receive a 50% discount on mining fees until Nov. 24, with higher discounts for those entering with more mining power. The KuCoin website currently lists the pool’s mining fee at 2%, making it competitive with other leading pools after the discount is applied. 


Johnny Lyu, CEO of KuCoin, commented on the pool launch, explaining: 

SIMETRI Research


“For existing KuCoin users, it will become straightforward to set up their mining devices to generate passive income right away. Miners can benefit from the one-stop mining service platform and its features to get up and running very quickly.”

He went on to say that KuCoin’s pool aims to provide incentives for environmentally-friendly mining in the future. “Any miner relying on renewable energy will receive mining fee discounts,” he stated.

Additionally, KuCoin plans to introduce cloud mining compatibility for its pool in the future, further lowering the entry threshold for would-be crypto miners. 

Disclaimer: At the time of writing this feature, the author owned BTC and ETH.

OKCoin banner


Share this article



The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.



Bitcoin Mining Council Says Mining Is 56% Sustainable

The Bitcoin Mining Council, an open forum of companies in the crypto mining industry, has published a report stating that more than half of Bitcoin mining is based on renewable…

Compass Taps Oklo for Nuclear Bitcoin Mining Plans

Compass is planning to use nuclear energy to mine Bitcoin.  Compass Joins Oklo for Nuclear Energy Play Compass Mining is taking steps to start using nuclear energy.  The Bitcoin mining…

Efficient Market Hypothesis: Does Crypto Follow?

The Efficient Market Hypothesis (EMH) is a concept in financial economics which states that security prices reflect all the available information about a financial instrument. EMH is one of the…

Marathon Digital Buys Another 30,000 Bitcoin Mining Rigs

Marathon Digital has agreed to purchase 30,000 Bitcoin mining machines from producer Bitmain in a deal worth over $120 million.  Marathon Digital Increases Mining Capacity Marathon Digital has bought 30,000…



Source

Tagged : / / / / /

Bitcoin Taproot upgrade finally locked-in, activation set for November

by Cointelegraph

The Taproot upgrade has achieved the first significant milestone on the road to activation as 90% of the Bitcoin (BTC) mining hash rate signaled for the protocol improvement within the current difficulty epoch.

Data from Taproot.watch, a webpage created by Bitcoin developer Hampus Sjöberg, shows the lock-in stage is now completed.

All recognized mining pools signaled for the upgrade with Slush Pool being the first to do so. It is perhaps fitting that Slush Pool also mined block 687285 that sealed the Taproot lock-in.

AntPool and F2Pool — the top two Bitcoin mining pools by hash rate share — were also among one of the earliest supporters of the Taproot activation in the BTC mining arena

In a conversation with Cointelegraph Bitcoin core developer Pieter Wuille explained the activation step for Taproot, stating: “According to BIP341, once locked in, activation is automatic at block height 709632 – expected around November 14, 2021.”

Wuille also commented on the significance of Taproot, adding:

“It’s the first consensus change since Segwit activated in august 2017. It extends Bitcoin’s script capabilities in ways that make certain things cheaper (especially more complex applications like multisig and layer 2 things), and somewhat more private by often hiding what the exact spending rules were.”

According to Wuille, the activation in November is only the beginning as the real work will be building the software to leverage the benefits of the protocol improvement.

June 12’s historic significance for Bitcoin has also moved beyond Taproot as the day seen a record number of transactions mined in a single block. Data from blockchain explorer Blockchair shows 4,075 transactions in block height 687249.

Source: Blockchair.com

This record figure is almost twice the average transactions per block recorded on June 11 and is four times the typical transaction count for Bitcoin blocks.

With hash rate declining amid mining restrictions in China, Saturday’s transaction count average might be due to a slowdown in block production forcing more transactions to be included in a single block.