BTC.com Announces Ether Mining Pool Operation Underway
According to official announcements this Thursday, the largest BTC mining group worldwide, BTC.com, has launched a new ether mining project. Within the past year, BTC.com has accounted for over 15% of bitcoin’s hashrate, as well as mined 21% of all recently mined BTC globally.
How It Will Work
The project plans to support ethereum as well as ethereum classic with the ability for miners to switch from one Ethash digital currency to the other in order to maximize profits. Zhuang Zhong, the director of BTC.com’s mining operations, explained that contract charges are calculated per every sequence of code executed, in which miners receive rewards for hashes that utilize GHOST. In this sense, Ethereum will offer several different incentives that reward miners’ contributions towards the platform.
He added that the site hopes to extend Ether’s network in such a way as offering rewards via their FPPS structure. By offering the most beneficial margins for rewards in addition to advanced product development, BTC.com predicts a growth of 12% ETH hashrate from mining operations within a year.
Debates Within The Crypto Community
BTC.com belongs to Bitmain’s two advanced mining pools, a manufacturer giant of ASIC mining equipment. During the start of 2018, Bitmain produced their first ASIC product that supports the algorithm for Ethash mining, previously only obtained by the use of GPU chips.
The Ethereum network has sparked a debate regarding this announcement, arguing the concept of pushing for Ether resistance against ASIC however nothing has been determined thus far. In addition, the mining site has also stated its lack of concern for Ether’s plans to switch to a PoS algorithm on Casper, rather than its current Pow-based system.
Furthering this notion, Zhong stated that it remains possible to host a PoS mining pool. Although it makes the system much more complex he explained, the project has much personal experience both Ether smart contracts and digital wallets to make it a reality.