By
Mayowa Adebajo
April 15th, 2024
Starting from 31 December 2016, BTC.com will offer the lowest fee in the industry.
Bitmain has announced the launch of a new BTC.com mining pool with no mining fee until 2017 in a press release. The creation of this open-source mining pool demonstrates the intention of the BTC.com team to set new technical standards for mining pools and remove barriers that limit the efficiency or ease of mining pools.
The BTC.com has launched the mining pool only after considerable trial. Around 180,000 miners (or workers) tested it by using software simulators that replicate the load of real workers. Supposing that each worker has the hashrate of an Antminer S9, the total hashrate of this simulation would be more than that of the entire bitcoin network.
The BTC.com pool has many firsts for any mining pool:
- A “PoolWatcher” function to “listen” to other mining pools for newfound blocks and starts mining at the next height after a block has been found on any pool. The function increases the productivity of the pool by reducing the number of orphaned blocks.
- A “BtcAgent” software that allows mining farm owners or miners with multiple workers to view every worker in their LAN on the mining pool. This software can be downloaded from GitHub.
- Users can see the real-time statistics on the pool as soon as their worker connects. Thus, there is no need to wait for long to see the statistics of a new worker on the mining pool.
- Payouts are calculated almost instantly.
The BTC.com mining pool has independent server clusters in China and USA while more clusters are intended for Europe and North America.
“I accessed this website from within China so it was automatically redirected to the China server cluster. For users accessing the new pool website from outside China, the hashrate shown will be significantly lower”, the press release says.
As we have already mentioned, BTC.com promises no mining fee until 2017. Besides, each new user will get a 1% subsidy within first 3 months of mining pool launch. Rewards will be offered based on pay-per-share (PPS) and, after 31 December 2016, the mining pool will offer the lowest fee in the industry, 1.5%.
Bitmain states: “The open-source BTC.COM mining pool will set new benchmarks in terms of stability, efficiency and service for all mining pools and, by helping other developers around the world to develop mining pools using BTC.COM’s source code, further promote decentralization of the bitcoin mining network.”
The BTC.com offers a mobile app for its mining pool. It is available from App Store as well as Google Play store. This app also allows users to manage their miners by creating groups, deleting inactive miners and sorting their miners.