BTC.com, the one mining pool that has been responsible for 21% of all the Bitcoin that were mined in the year 2017 alone has this week announced that it will start adding Ethereum (ETC) to the coins available for mining. According to reports available, the addition of Ethereum is mainly to allow more GPU friendly mining on the platform. Financially, it is a big plus to the miner, as this could lead to a 12% rise in shares of Ethereum hashrates within the next year.
After BTC.com began Bitcoin mining, it wasn’t long until everyone knew that Bitcoin Cash too will be supported after it was created. And if the past is anything to go by, then the addition of Ethereum could see us get Ethereum Classic unto the mining pool in the near future. Presently, BTC.com mines 14.1% of Bitcoin Cash blocks, the second highest after Coingeek.
Director of the mining pool, Zhuang Zhong, has mentioned that the addition of the Ethereum token to the platform presents to miners a whole new array of possibilities to miners on the platform, as miners will now the opportunity to make switches between the harshing powers of different coins. A thing he believes will add to market force. He stated
“Because contracts are charged per line of executed code and miners are rewarded for dedicated hashes using GHOST, Ethereum provides multiple different reward incentives to contribute hash power to the network… We hope to expand Ethereum’s network by relaying those rewards through our FPPS system. By competing to provide the best reward margins along with our product development, we expect mining operations to grow to 12% of ETH total hashrate in the next 12 months.”
His optimism on a possible domination of the Ethereum mining sphere is largely based on the figures BTC.com has now, at eight quintillion SHA256d based per second, a thing they look to replicate.
Ethereum is undergoing changes for a better blockchain network, and one notable of these is the Proof-of-Stake to replace the existing Proof-of-Work. This could affect most mining operations on the future, but according to director Zhong, any future implementation will be well handled.
“…it’s still possible to host a mining pool in PoS mode. It will increase the complexity to design such a pool since miners need to deposit ether to the mining pool, but we have a lot of hands-on experience with wallet and Ethereum smart contracts to make a PoS mining pool possible.”
Many Ethereum miners and developers are concerned about the upcoming Constantinople fork. Aside this are several other issues that need serious addressing if the token is to be taken seriously and given any real world uses now or in the future.
Whichever way things go in the fork or switch in proofing systems, it will be in the best interests of all cryptocurrency enthusiasts that Ethereum mining coming to BTC.com will help increase the coin’s popularity and acceptance in real world uses.
Join us on Telegram.
- Ethereum Developers Discuss The Difficulty Bomb And More
- For Gamers, The Blockchain Is More Than The Hype
- American Express Partnership Sets Ripple Into High Priority Chinese Market - Nov 14, 2018
- What To Expect In Ethereum Scalability 2019 And Beyond - Nov 14, 2018
- Ethereum Sees Above Ground 200 Again After JP Morgan Statement - Nov 5, 2018
- Bounty Hunts And “All About Freedom” – October’s IOTA In Retrospect - Oct 29, 2018
- Shenzhen Court Rules For Bitcoin Transactions In China - Oct 26, 2018
Know more than others on any Blockchain Party!
Join more than 5000 others to receive the breaking news and weekly summaries! No ICO spam, we promise.