6 Years of Dedication: ViaBTC Prioritizes the User Experience & Insists on Product Innovation
Since the Bitcoin genesis block was mined in 2009, many BTC believers have joined the mining craze. As more crypto users start mining, the total Bitcoin hashrate has grown higher. Meanwhile, the hashrate share of a single miner in the entire BTC network has decreased over time. As a result, most solo miners find it difficult to earn stable returns, triggering the appearance of mining pools.
A mining pool enables mining practices that leverage the combined strength of individual miners and mining farms, which allows miners to earn more stable returns. Miners are not always tied together with one pool but can connect their hashrate to a different pool at any moment. To gain more support from the miner community, mining pools are engaged in increasingly intense competition with one another.
Bring industry-wide changes via constant innovations
Back in 2016, most mining pools either offered fixed returns (PPS) or actual returns (PPLNS) based on a miner’s hashrate. The former payment method does not provide miners with miner fee rewards, while the latter comes with unstable returns.
Meanwhile, a BTC mining pool called ViaBTC was founded on June 5, 2016. Soon after its inception, ViaBTC Pool created a new payment method named PPS+ based on two traditional models: PPS and PPLNS. Under PPS+, miners earn stable returns, as well as the miner fee. As such, the actual profit miners earn through ViaBTC far exceeds that they could otherwise get via other pools.
ViaBTC’s adoption of PPS+ innovated the profit distribution models used by mining pools at the time. Subsequently, many mainstream mining pools have followed suit and started using PPS+, which facilitated an industry-wide change in mining rules.
At the same time, ViaBTC constantly strives for tech improvements. Regarding the orphan rate, which is a top concern among miners, ViaBTC Pool optimized the broadcasting and transmitting process of the BTC network through its independently developed BTC client. Thanks to its high-speed block updating networks distributed around the world, miners can discover and broadcast new blocks more quickly. For miners, these efforts also lower the orphan rate, ensure the mining profit, and improve the operating efficiency of the BTC network. To date, ViaBTC remains the mining pool with the lowest orphan rate in the entire network.
ViaBTC is also the first pool to launch free transaction acceleration services, allowing global BTC users to benefit from faster confirmation. This also meets the demand for urgent transactions when the network is congested. Relying on its innovative payment method, ViaBTC Pool has attracted a large group of miners in a very short period, and its sound tech support has also built a strong bond of trust between these miners and ViaBTC. In less than 6 months after its inception, the pool became one of the top 5 BTC pools in terms of hashrate. At its peak, ViaBTC was the second-largest BTC pool worldwide.
Put users first & achieve steady growth
Though ViaBTC gained extensive miner recognition soon after its launch, the pool did not stop there. Instead, it has prioritized user experiences and kept improving its products. To offer more reassuring miner services, ViaBTC has adopted multiple visual representations to provide real-time, detailed, transparent statistics of pools and miners. Moreover, it is also one of the few pools where mining profits are settled on an hourly basis.
ViaBTC also introduced Auto Conversion to better ensure miners’ returns, allowing users to convert assets into BTC or USDT easily and automatically. Meanwhile, having accounted for miners’ demands, the pool tapped into conventional financial tools and released two innovative financial services (Hedging Service & Crypto Loans), which help miners much improve their capital efficiency.
Putting users first and always engaged in product innovation, ViaBTC has made it to its 6th year via solid efforts. Right now, the pool has built a global presence, providing mining services for more than one million users in over 130 countries and regions, and covering 17 crypto assets such as BTC, LTC, and ETH. At its height, it ranked №1 among all BTC and LTC pools by hashrate. So far, ViaBTC has registered mining output totaling tens of billions of dollars.
Create a blockchain-enabled world through solid efforts
During the past 13 years since the first BTC block was mined, the crypto market has been flooded with doubters and speculators. Unaffected by such views, ViaBTC has built superior products favored by users via solid efforts and become one of the few companies in the crypto market that have been running for six years.
In the future, ViaBTC will remain committed to its mission — Via Blockchain, Making the World a Better Place. Starting from its 5 existing business segments that cover the mining pool, exchange, wallet, public chain, and investment, ViaBTC will integrate the application scenarios of crypto assets and build an all-encompassing ecosystem. Guided by its vision of being the infrastructure of the blockchain world, ViaBTC will enable crypto progress while offering more user-friendly blockchain products.