Bitmain-Owned Mining Pool BTC.com to Add Ethereum (ETH) Mining Pool
BTC.com, the leading Bitcoin mining pool, plans to roll out Ethereum (ETH) mining.
BTC.om, the largest Bitcoin mining pools owned by Bitmain, is expanding its reach by offering a new Ethereum pool. The company claims that it will command up to 12% of the total Ethereum network hashing power within a year.
BTC.com to launch Ethereum mining pool
Although cryptocurrency mining has fallen to the shadows as the bearish trend persists, the Bitcoin mining network is extending its reach with the new mining offering as part of an effort to “help Ethereum scale its mining infrastructure.”
According to the official announcement published on Thursday, August 30, along with its new mining client, BTC.com will also offer an integrated Ethereum block explorer and API via its pool.btc.com portal.
The new Ethereum mining feature will allow miners to switch their hashing power from one pool to another, depending on the market.
Project director of Bitmain, Zhuang Zhong said in the following about Bitmain’s decision to launch an integrated block explorer and API for Ethereum:
“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 percent of ETH total hashrate in the next 12 months.”
BTC.com to offer Ethereum mining for both GPU and CPU devices
The report further stated that the new pools would include GPU and CPU mining options, the release indicated although Bitmain released its first Ethereum focused Application-Specific Integrated Circuit (ASIC) device earlier this year.
According to Zhuang, the decision to offer a mining pool for both GPU and CPU devices is as a result of the huge price decline the crypto market has experienced this year.
Zhuang explained to CoinDesk that it is not out of the ordinary for miners to invest in both GPU and CPU devices given that GPU miners are versatile and still profitable and are not easily replaced in a bear market.
The Ethereum mining pool will remain relevant
It is no longer news that the Ethereum network is planning a hybrid transition, popularly referred to as the Casper update.
The transition will see the Ethereum take the best of the proof-of-stake (PoS) and proof-of-work (PoW) consensus mechanism. In the PR, Zhong answered the question of the continuity of the mining pool after Ethereum updates to Casper. He said:
“It’s still possible to host a mining pool in PoS mode. It will increase the complexity to design such a pool since miners need to deposit ether to the mining pool, but we have a lot of hands-on experience with wallet and Ethereum smart contracts to make a PoS mining pool possible.”
BTC.com may consider other popular coins going forward
Zhuang has hinted that in future, BTC.com may consider launching specific mining pools for other major altcoins like Litecoin, Zcash, and Monero, although he noted that concrete plans have yet been made.
BTC.com would have to consider the network of the token, the quality of its code, its trading volume, and the development of its roadmap before any new additions are made, according to Zhuang.