The largest mining pool of bitcoin is planning to expand its horizons.
In last 12 months, BTC.com has produced 21 percent newly mined bitcoin and is currently responsible for 16 percent of the bitcoin hashrate. On Thursday BTC.com announces that it had opened an Ethereum mining pool.
According to the announcement, the pool will support ethereum as well as ethereum classic and the users will be allowed to shift between the two to enhance profits.
In words of Zhuang Zhong, director of BTC.com’s mining pool,
“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.”
Bitmain, the manufacturer of ASIC mining hardware owns two pools, BTC.com, is one of them. At the beginning of this year, the Bitmain released its first ASICs compatible with Ethash mining.
Strikingly, BTC.com additionally said that it isn’t worried about Ethereum’s planned transition to Casper, a Proof-of-Stake (PoS) consensus algorithm that will replace the current algorithm of consensus which is secured by the Proof-of-Work-based (PoW) Ethash calculation.
Remarking on BTC.com’s plan Ethereum starts relocating to PoS, Zhuang Zhong stated, “it’s as yet conceivable to have a mining pool in PoS mode. It will build the many-sided quality to plan such a pool since miners need to store ether to the mining pool, however, we need a considerable measure of hands-on involvement with a wallet and Ethereum smart contracts to make a PoS mining pool conceivable.”