Bitcoin.com is pleased to announce that our new mining pool is coming out of private beta and is available to the public from today. The Bitcoin.com Mining Pool is giving miners a unique opportunity to join a growing pool that has one of the most profitable incentive systems for miners around.
Bitcoin.com’s Mining Pool Leaves Private Beta
This past September Bitcoin.com started mining with its very own pool and mined its first block, 430757, on Wednesday, September 21, 2016. The following month our mining pool steadily increased its hashrate capturing 1 percent of the global network in October. Since then the pool’s computational power has increased, currently running at 80 Ph/s and handling 2.456 percent of the global hashrate.
Bitcoin.com’s Chief Technical Officer, Emil Oldenburg, who helped get the mining pool up and running gives our readers some insight about the pool. Oldenburg tells us he helped develop the pool with Bitcoin.com’s developer Shaun Chong, and Bitcoin Unlimited developers Andrew Stone and Andrea Suisani. Furthermore, the CTO explains the new pool offers miners incentives like no other mining program and encourages people to join the group.
“We are paying more on Pay-Per-Share (PPS) than any other pool,” explains Oldenburg. “We pay a 110% block reward, and charge 0% fees for PPS and Pay Per Last N Shares (PPLNS). Bitcoin.com’s mining pool pays PPS directly instead of giving miners some fees after the blocks are mined. Our reward scheme is simpler and is guaranteed to make the miner more money regardless of luck.”
A Unique Reward System, and an Aim to End Transaction Congestion
Bitcoin.com’s Mining Pool is also the world’s first large pool fully dedicated to Bitcoin Unlimited. Oldenburg details the operations are global with servers in the U.S., China, and Europe. Additionally, Bitcoin.com’s mining pool has fast block transmission times using a global relay network built on Bitcoin Unlimited Xthin and Xpedited blocks.
Today begins the first invite to the general public, offering a mining pool with a significant incentive for miners. Moreover, Bitcoin.com’s Mining Pool is leading the change for bigger blocks by voting with hashpower to end congestion within the network. In addition to the pool, Oldenburg reveals that a transaction accelerator platform is also coming in the near future.
We plan to build a transaction accelerator very soon as well. This congestion is causing massive problems on all fronts in the Bitcoin ecosystem.
Oldenburg added, “I really wish transaction accelerators weren’t necessary. We need to remove the block size from the consensus code like Bitcoin Unlimited has done and let the blocks be as big as necessary. This will lead to a healthier and more innovative discussion on blockchain and transaction optimizations. We can’t fix the congestion by building a transaction accelerator; we must raise the block size limit.”
For more information about Bitcoin.com’s Mining Pool, there is an official discussion thread located in our forum here, and people can also email us at [email protected].com for questions and support. Get started now at pool.bitcoin.com.
Images courtesy of Bitcoin.com
Have you seen our new widget service? It allows anyone to embed informative Bitcoin.com widgets on their website. They’re pretty cool, and you can customize by size and color. The widgets include price-only, price and graph, price and news and forum threads. There’s also a widget dedicated to our mining pool, displaying our hash power.