New Bitcoin Mining Pool Launched by Binance
The global leader in crypto exchange Binance announced the launch of its highly anticipated bitcoin mining pool. At its current state, only bitcoin mining services are available, with future plans of expansion.
The aptly named Binance Pool will be incorporated with Binance's ecosystem, with plans of offering spot exchanges, derivative products, and more soon to be announced.
Binance Pool will support proof-of-stake and proof-of-work consensus mechanisms. Furthermore, the pool will have a zero percent mining fee.
The founder and CEO of Binance, recently commentated on the development of the project by focusing attention on the industry as a whole. CEO Changpeng Zhao said,
“As an integral part of the global crypto market, empowering miners will therein enable significant growth and scale in the larger industry. With Binance Pool, we aim to establish a comprehensive platform for miners that will bring more possibilities to the mining industry by bridging traditional mining to financial services.”
At the time of this article, there are 36 000 workers producing a hashrate total of 1.73 EH every second!
Binance is expanding beyond just being the number one crypto exchange in the world, which in and of itself is an exceptional achievement, slowly monopolising the market.