Following the rocketing Bitcoin price in 2017, cryptocurrencies penetrated much deeper into the financial sector. Along with the continued exposure of the crypto sector in 2021, a huge influx of major capital institutions and the legalization of cryptocurrencies in some countries make cryptocurrencies a “new favorite” in the financial world. Massive demand for cryptocurrencies has spurred the crypto mining market. According to Brandessence Market Research, the crypto market was valued at $2285.4 million in 2021 and the figure is still climbing at an annual growth rate (GAGR) of 28.5%.
The expanding miner community contributes to a growing hashrate. The age when one could mine coins with a home computer has already ended. As mining gets more difficult and specialized mining machines are introduced, the competition in mining turns even fiercer. More importantly, the mining revenue of “stand-alone” miners becomes extremely unstable. Mining pools that bring together miners have emerged in response.
Yet, the market abounds with mining pools, including both the good and the bad. To save trouble, miners should pick the right mining pool. Firstly, a mining pool with a larger hashrate proportion in the total hashing power of a network should be considered. A large hashrate proportion signifies that the mining pools are competent. It shows that the mining pool is working with well-established mining farms and that it is widely trusted by miners. Moreover, years of good reputation are usually typical for long-standing mining pools. Secondly, miners should choose reputable pools. Backed by excellent products and services, a good reputation indicates the solid strength of a mining pool and its rich crypto resources.
ViaBTC Pool is a comprehensive cryptocurrency mining pool serving global users. Since its birth, ViaBTC has been optimizing and diversifying its products and services to meet market and user needs. At the same time, it remains committed to innovation and self-improvement. Years of professional and dedicated services for miners, along with superb O & M capabilities, make ViaBTC stand out to be a world-leading crypto-mining service platform.
An excellent team underpins ViaBTC’s unbeatable strength. On top of the PPLNS and SOLO mode, ViaBTC Pool innovatively introduced the PPS+ settlement mode, offering miners more choices. A secure and stable mining network, coupled with the lowest orphan block rate in the network, stabilizes mining revenue for miners.
Moreover, ViaBTC keeps innovating. By integrating cutting-edge financial concepts and market trends, it has rolled out a series of efficient, convenient, and flexible products for financial asset management. For example, based on the underlying financial logic, the financial services of Hedging Service and Loan maximize the value of investment assets by exchanging time for space. At the same time, ViaBTC has integrated high-quality resources in the industry to launch services of Mining Farms and Mining Companies. With a set of strict selection mechanisms, miners can directly get in touch with quality mining farms and companies. Putting an end to information asymmetry in the industry is exactly in line with ViaBTC’s aspiration to serve the market and users.
In the past year, ViaBTC Pool accounted for 11.3% of the total Bitcoin hashrate, ranking fourth. This represents the trust of miners in ViaBTC. In addition to the mining pool, ViaBTC Group also has a full presence covering products of the CoinEx exchange, ViaWallet, CoinEx smart chain, and ViaBTC capital investments. With such a comprehensive ecosystem of ViaBTC, miners can withdraw coins from ViaBTC to CoinEx without transaction fees. The lucrative “Referral Rewards for Ambassadors” campaign further brings down the costs for miners.
Although the crypto market is relatively on a decline compared to 2021, a calm market can actually facilitate product improvements more. ViaBTC will continue to optimize products, discover more quality and innovative assets, and fuel the progress of the blockchain industry. Together, we will build a bright future for blockchain and embrace the era of the digital economy.
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