Bitcoin mining giant is launching an Ethereum mining pool

The world’s greatest Bitcoin mining pool is now set on dominating Ethereum., a subsidiary of cryptocurrency mining giant Bitmain, has at present launched a brand new consumer particularly constructed to mine the Ethereum blockchain. at the moment accounts for roughly 16 p.c of the computing energy driving Bitcoin (hash fee). Equally, it makes up round 14 p.c of the Bitcoin Money community. However, it appears that evidently Bitmain is merely not content material to dominate these two: Ethereum is subsequent.

“We count on mining operations to develop to 12 [percent] of ETH complete hashrate within the subsequent 12 months.”  says Zhuang Zhong, Director of’s mining pool.

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What’s additionally fascinating is that seem assured that the proposed transition from a Proof-of-Work algorithm to a Proof-of-Stake (PoS) consensus fashion, by the upcoming Casper protocol, received’t deter it from mining Ethereum. This actually sounds ludicrous, even after you hear what Zhong has to say about it.

“It’s nonetheless attainable to host a mining pool in PoS mode,” he mentioned in a press release. “It’ll improve the complexity to design such a pool since miners must deposit [E]ther to the mining pool, however we’ve plenty of hands-on expertise with pockets and Ethereum good contracts to make a PoS mining pool attainable.”

Sadly, the exec stopped in need of sharing any particulars on how the PoS mining pool implementation would work.

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