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BTC.com’s Bitcoin Mining Pool Dominance Threatened by Poolin

This article was originally published by 8btc and written by Lylian Teng. On September 16, 2019, BTC.com, Bitmain’s mining pool, lost its years’-long first place position to another China-based mining pool, Poolin, whose real-time hashrate read 13,378.00 PH/s at one point. BTC.com, supported by the advantages of Bitmain’s bitcoin mining machines, has been the largest bitcoin mining pool for years. In the first half of 2018, the hashrate of mining pools under Bitmain (with BTC.com, AntPool and ViaBTC included) was approaching the dreaded 51 percent threshold needed to stage a 51 percent attack. However, the bitcoin mining hashrate has become more decentralized as smaller pools made gains since the beginning of 2019. The rankings of mining pools saw a significant shift, particularly over the second half of the year, with Poolin moving to the second and even first place position at times. Though BTC.com climbed back to its dominant position quickly, this upheaval shows that the bitcoin mining hashrate has been more distributed among the top mining pools and that the competition among these big pools is becoming fiercer. Bitcoin hashrate distribution in 2013, 2018 and the year, respectively (Source: btc.com) Founded in November 2017, Poolin’s rapid rise to the top mining pool spot may generate as much fear as admiration. Since the BTC mining pool went live in July 2018, its bitcoin hash power has been growing continuously. Apart from its increasing bitcoin hashrate, its hashrate for LTC and ZEC has steadily ranked first among global mining pools. Poolin made headlines when its co-founders (CEO Zhibiao Pan, COO Fa Zhu and CTO Tianzhao Li) — three former employees of Bitmain who helped establish BTC.com — were sued by Bitmain for allegedly violating noncompete agreements. As of press time, data shows that BTC.com’s hashrate has seen an increase of 0.37 percent in the past 24 hours, and that of Poolin’s has dropped by 2.99 percent, with the latter’s real-time hashrate reading 13,069.00 PH/s and BTC.com marking 13,560.00 PH/s. In terms of bitcoin hashrate distribution, BTC.com accounts for 18 percent in the past week, followed by Poolin with a share of 15.2 percent and China’s oldest bitcoin mining pool, F2Pool, ranking third at 13.8 percent. Since its operation in late 2010, mining pools grow and shrink. According to incomplete statistics, nearly 20 pools that used to have big names have chosen to shut down, while China-based mining pools still dominate the market with a lion’s share of above 75 percent. The post BTC.com’s Bitcoin Mining Pool Dominance Threatened by Poolin appeared first on Bitcoin Magazine.
Bitcoin Magazine

BTC.com’s Position of Dominant Bitcoin Mining Pool Is Threatened by Poolin

On September 16, BTC.com, the mining pool of Bitmain, lost its years’ long first place to another China-based mining pool Poolin whose real-time hashrate read 13,378.00 PH/s at some point. BTC.com, supported by the advantages of Bitmain’s bitcoin mining machines, has been the largest bitcoin mining pool for years. In the first half of 2018, the hashrate of mining pools under Bitmain (with BTC.com, AntPool and ViaBTC included) approaching the dreaded 51% threshold had triggered massive concerns that Bitmain might stage a 51% attack. However, bitcoin mining hashrate has been more decentralized as smaller pools make gains since entering 2019. The rankings of mining pools saw significant shift especially over the second half of the year, with Poolin moving to the second place and even the first place at some point. Bitcoin hashrate distribution in 2013, 2018 and past year, respectively (Sources: btc.com) Though BTC.com climbed back to its dominant position soon, the upheaval marks that bitcoin mining hashrate has been more distributed among top mining pools, and the competition among these big pools is becoming fiercer. Founded in November 2017, Poolin’s rapid rise to top mining pool generates as much fear as admiration. Since BTC mining pool went live in July 2018, its bitcoin hash power has been growing continuously. Apart from its increasing bitcoin hashrate, its hashrate of LTC and ZEC has steadily ranked No.1 among the global mining pools. Poolin made its latest exposure when its cofounders (CEO Zhibiao Pan; COO Fa Zhu; and CTO Tianzhao Li) – three former employees of Bitmain who helped establish BTC.com – was sued by Bitmain for allegedly violating their non-compete agreement. As of press time, data shows that BTC.com’s hashrate has seen an increase of 0.37% in the past 24 hours, and that of Poolin has dropped by 2.99%, with its real-time hashrate reading 13,069.00 PH/s and BTC.com marking 13,560.00 PH/s. In terms of bitcoin hashrate distribution, BTC.com accounts for 18.0% in the past week, followed by Poolin with a share of 15.2%, and China’s oldest bitcoin mining pool F2Pool ranks third accounting for 13.8%. Since its operation in late 2010, mining pools grow and shrink; nearly 20 famous pools have chosen to shut down. While China-based mining pools still dominate the market with a lion share above 75%.
8BTC

Bitcoin mining pools Poolin and BTC.com compete for the position of dominant mining pool

Founded in 2015, BTC.com, a mining pool owned by Bitmain is one of the largest in the world. BTC.com has dominated the mining pool and had retained its dominance through the first and second quarter of 2019. The mining pool was holding a 15.42% share of the total hash rate in Q1 and a 19.86% […] The post Bitcoin mining pools Poolin and BTC.com compete for the position of dominant mining pool appeared first on AMBCrypto.
AMBCrypto

Pool-X: The Next Generation PoS Mining Pool By KuCoin

Technology has become an integral part of everyday life. It is ever-evolving and is responsible for changing lifestyles for people worldwide. Newer technological inventions are taking the market by storm and people hardly take any time to get accustomed to these. One such advancement today is cryptocurrencies. These are a revolutionary new form of money that are being used to buy products and services. This money isn't tied to a bank, or controlled by a government. This idea is being adapted by KuCoin, as one of the many cryptocurrency exchanges in the crypto world. This is available for those in search of a modern and secure platform to trade between cryptocurrencies. KuCoin is considered as one of the top dogs in crypto exchange. It was founded by a group with a passion for the blockchain who had already built up strong reputations at industry giants, such as GF Securities, Ant Financial, Youling, Jianbang Communication, and iBOX PAY. Kucoin always aims to provide users with a safe and straightforward method of converting their currencies on a state-of-the-art platform. With that vision in mind, KuCoin launched Pool-X. Pool-Xis a trading platform where users can take part in staking pools and operate nodes. Unlike other staking platforms, users on Pool-X are free to unstake their tokens at any time, providing an opportunity to adapt to the changing market conditions, similar to KuCoin’s own Soft Staking program. This is possible through the use of liquidity certificates, which essentially represent ownership of a certain amount of staked tokens and can be traded with others in order to receive the tokens. As said in this article <KuCoin Blog, Pool-X is an independently operated pool that is co-incubated by KuCoin and its partners. It is the next generation PoS mining pool supporting lockup crypto transactions. With the aim to stimulate the future development of the PoS ecosystem, Pool-X offers services including but not limited to: liquidity trading market, node integration, and operational solutions. This is not only an advancement for KuCoin Exchange but also a progress on the emerging market of cryptocurrency. This innovation will help in the growth and development of the the technology as a whole.
/r/CryptoMarkets
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HUGE Altcoin Updates! Stellar, Binance US, Tomochain, Digibyte, NEO, Monero, Bitcoin Bakkt

Binance Adds BNB to Binance US https://finance.yahoo.com/news/binance-us-adding-7th-coin-102155751.html A brief history of the world of crypto. Plus, all of the latest news and updates from the Stellar Developers ecosystem https://medium.com/stellar-community/stellar-dev-digest-issue-14-ea71609a22b0 How TomoChain’s TomoZ intends to take on Ethereum market share! https://twitter.com/TomoChainANN/status/1173152916888096768 https://twitter.com/Altcoinbuzzio/status/1172575745584971777 https://www.altcoinbuzz.io/crypto-news/product-release/how-tomochains-tomoz-intends-to-take-on-ethereum-market-share/ Virtual Rehab with Virtual Reality is now solving real-world problems https://cryptodaily.co.uk/2019/09/apple-entry-blockchain-via-rumoured-vr-project https://www.zerohedge.com/news/2019-09-09/virtual-reality-now-solving-real-world-problems Celer Network and NEO Are Launching a Partnership https://www.altcoinbuzz.io/crypto-news/partnerships/celer-network-and-neo-are-launching-a-partnership/ Bitcoin #Bakkt Tweet https://twitter.com/Bakkt/status/1173683919687966720 Big! #Monero ready to use Zcoin’s Privacy protocol https://www.altcoinbuzz.io/crypto-news/product-release/big-monero-ready-to-use-zcoin-privacy-protocol/ #digibyte lists on UpHold https://twitter.com/DigiByteCoin/status/1173623829652004866 #bitcoin #cryptocurrency #altcoin #altcoins #crypto #btc $BTC #bitcoinprice #ethereum #electroneum #cardano #enjin #crypto.com #hpb #digibyte #bitcoinnews #btcnews #libra #chainlink #ripple #xrp #xrpripple #binance #bitcoinnewstoday #cryptonews #litecoin #cryptocurrencynews #news Bitcoin cryptocurrency altcoin altcoins crypto btc $BTC bitcoin price ethereum electroneum enjin crypto.com cardano digibyte bitcoin news btc libra chainlink ripple xrp ripple Binance bitcoin news today crypto news Litecoin cryptocurrency news hpb high performance blockchain $xrp $enj $etn $ltc $dgb $ada NOTE The information discussed on the Altcoin Buzz YouTube or other social media channels is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
Altcoin Buzz

Celsius Network Offers up To 12% APR on USDC, TUSD, USDT and Other Stablecoins

The Celsius app offers the industry highest rates and supports six different stablecoins all eligible to earn up to 12.03% annually with interest paid out weekly Celsius Network (https://celsius.network/), the industry-leading cryptocurrency platform, announces today it has increased interest rates for stablecoin deposits to 12.03% APR. Users who choose to earn interest in Celsius Network's blockchain-based CEL token can earn up to 30% more than the 9.25% depositors who are paid in-kind on their coins. Celsius is raising its rates because it is consistently earning higher returns on its deposits and distributes 80% of its income to its depositors; as it earns more, it distributes more. Unlike other platforms, ...Full story available on Benzinga.com
Benzinga

VanEck, SolidX Pull Bitcoin ETF Filing From SEC Consideration

Less than two weeks after VanEck and SolidX rolled out the VanEck SolidX Bitcoin Trust ETF (XBTC), a bitcoin exchange traded product aimed at institutional investors, the firms said they're withdrawing plans for bitcoin exchange traded fund aimed at a broader swath of investors. What Happened The ETF issuer and the fintech firm pulled the filing from consideration by the Securities and Exchange Commission on Sept. 13. The agency had delayed an ultimate decision on that product, as it has with various other bitcoin ETF proposals, several times, but was facing a hard and fast deadline of Oct. 18 to approve or disapprove the VanEck SolidX Bitcoin Trust. “Tuesday’s filing marks the second time VanEck and SolidX withdrew the proposed ETF. ...Full story available on Benzinga.com
Benzinga

IOTA Introduces Chronicle Permanode to Amend Scalability Issues

IOTA, a permissionless trust protocol designed to revolutionize the Internet of Things (IoT) ecosystem by facilitating a frictionless exchange of value between machines and humans, has announced the launch of Chronicle, a permanode solution the team hopes will give node operators an unlimited amount of storage space in their Tangle distributed database, according to aRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Wells Fargo Plans Blockchain-Based Internal Settlement Services

The world’s fourth-largest bank, Wells Fargo, announced plans to use its digital token to pilot internal settlement services, which would run on its distributed ledger technology (DLT) platform. Per the press release September 17, 2019, the pilot project is expected to take off in 2020 and would initially focus on USD transfers.  Digital Token forRead MoreRead More. The post by Anthonia Isichei appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager
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