BTC.com, which is backed by Bitmain, includes two new crypto mining pools although the Ethereum cryptocurrency had a price fall this year. The recent step will definitely give a big boost to the Ethereum classic and ETH digital currency prices.
Incidentally, BTC.com has made claims that it produced about 21 percent of the entire newly-mined Bitcoin last year. The farm suggested that the move is being made to diversify its crypto mining portfolio. According to the director of the mining pool of BTC.com, Zhuang Zhon, the farm is also working to add Monero, another major cryptocurrency into its offering.
BTC.com is already recognized as one of the leading miners of BTC (Bitcoin Cash) that forked from Bitcoin in 2017. Zhuang said they have been receiving requests from many customers for Ethereum support and hence it was a clear option for them.
They are expecting that the mining operations for the Ethereum cryptocurrency have the potential to increase to 12 percent of the total ETH hash rate within the next one year. At present, BTC.com contributes to about 16 percent of the total Bitcoin hash rate or computing power.
The Possibility Of PoS Mining Pool
Although Bitmain released its maiden ETH focused ASIC (Application Specific Integrated Circuit) at the beginning of this year, there will be both CPU and GPU mining options in the new pools. At present, the farm is getting all set for a new IPO (Initial Public Offering) that may see the valuation of the company reaching up to 50 billion USD.
There is a possibility of hosting the mining pool even in PoS mode, Forbes wrote. Although there may be increased complexity in designing a pool like that, they have plenty of practical experiences with Ethereum smart contracts and wallet to create a PoS based mining pool according to Zhuang.
However, BTC.com is confident of mining the Ethereum cryptocurrency despite all odds. It is also certain that the possible migration to a PoS or Proof-of-Stake from a Proof-of-Work algorithm via the new Casper protocol will not deter it from mining the ETH coin.
The post Mining Infrastructure For Ethereum Classic, Ethereum Cryptocurrency Get Big Boost appeared first on OWLT Market.
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