Binance Launches its First Bitcoin Mining Pool! The Center Hotel

Uncategorized / 6 May, 2020

Binance Launches its First Bitcoin Mining Pool! The Center Hotel

Binance Launches its First Bitcoin Mining Pool! The Center Hotel

Binance plans to launch its own bitcoin mining pool. This launch is the first time for a platform that is popular with its crypto exchange.

The news was announced, on Tuesday, 31 March 2020 by Coinlife, the crypto news platform in Russia. Furthermore, this news was confirmed by three sources in the mining business. Binance Changpeng CEO Zhao wrote on his personal Twitter about the launch of the mining pool the next day.

“The company has hired several professionals for this launch, some of them are former employees of Bitmain. The launch (mining pool) is planned to take place in the 2nd Quarter of 2020, “news on Coinlife.

Also read: Android Bitcoin Mining Application Producing the Most 2020

The chairman of Sigmapool’s miner group, Jakhon Khabilov, said Binance had made an “abundant” bonus offer to clients who had the potential to reach out to miners in China to help promote the upcoming new service.

Binance tried to follow in the footsteps of its predecessor, OKex and Houbi who had launched their mning pools first in August and September 2019. These two exchange pools are in the top 10 pools that produce the most blocks in the Bitcoin Blockchain, according to Blockcain. com.

Alejandro de la Torre, vice president of Pooling, which is currently the second most popular ining pool, said themain motivatin in the exchane to enter the Bitcin Minng ame is liquiity. Mining is the cheapest way to add liquidity to an exchange.

Igor Renuts, CEO of Bitriver, mining pool in Russia, believes that opening a mining pool is a logical step in crypto exchange. “Both businesses are software based, so they don’t require additional professional skills. Most of the user base will also overlap, many mining pool users are also users of the exchange. “