From Nothing to Something: ViaBTC Keeps Pace with the Blockchain World

Back to January 3, 2009…

Bitcoin had its genesis block mined that day, and Satoshi Nakamoto recorded the front page headline of The Times on the block, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”, which marks the start of the crypto history.

From the genesis block to the time it came to the public spotlight, Bitcoin has been subject to voices of question, rejection, and abuse. Almost at the same time, the disadvantages of the conventional financial payment system became increasingly prominent, as incidents such as the subprime mortgage crisis in the United States and the debt crisis in Cyprus led to the collapse of trust based on the conventional financial system. As a result, some people resorted to Bitcoin.

As Bitcoin believers gather momentum, there has been a growing consensus about Bitcoin, and Bitcoin advocates started to obtain BTC rewards through “mining”. As we all know from the past market experience, “When something becomes profitable, people rush to it.”

The influx of miners and the increasing hashrates have sent the mining difficulty skyrocketing and the probability of mining Bitcoin spiraling downwards. In order to get continuous and stable income, some proposed to merge the computing power of all miners into one for mining and then “distribute the rewards according to the work”, which gave birth to the mining pool.

• In 2010, the first Bitcoin mining pool was established;
• In 2012, ASIC mining rigs emerged;
• In 2013, with the advent of Ethereum, the hashrates of Bitcoin reached 952.3 PH/s;
• In 2015, Bitcoin gained increasing attention, with its price hitting $495.

During this period, Bitcoin mining pools of different sizes appeared one after another, but none of them injected new vitality into the industry. Not until May 2016 when ViaBTC Pool was launched, in a legendary way.

From scratch, the founder Haipo Yang completed all the coding and deployment of ViaBTC Pool independently in just two months, and managed to launch it in June 2016. In October of the same year, ViaBTC Pool initiated the PPS+ settlement method in response to the needs of the majority of miners and the market. This move has pushed ViaBTC Pool, which was only 4 months old at that time, to the world’s top five by Bitcoin hashrates.

The next year in 2017, Bitcoin, which had remained little known for a long time, finally embraced a boom. At the same time, numerous cryptocurrencies emerged one after another, including many PoW currencies. According to statistics from CoinMarketCap, there are hundreds of PoW cryptocurrencies, with more than 20 mainstream ones such as BTC, ETH, and LTC.

Considering that Bitcoin mining service alone cannot meet the needs of most miners in the market, ViaBTC Pool has successively rolled out supporting services based on crypto mining in the six years since its establishment, and currently supports as many as 17 mining services covering most of the mainstream PoW cryptocurrencies on the market. It is noteworthy that ViaBTC Pool ranks sixth by Bitcoin hashrates (21.17EH/s) and first by Litecoin hashrates (123.3TH/s) in the world.

Moreover, to offer miners a more comprehensive, better and more convenient one-stop mining services, ViaBTC Pool has never ceased its efforts of innovation for the past six years, and has launched innovative financial products such as Transaction Acceleration, Crypto Loans and Hedging Service, all of which have been well received by miners upon roll-out.

This June marks the sixth anniversary of ViaBTC. Relying on its development advantages, ViaBTC, which started as a mining pool, has created and constantly improved its all-encompassing ecosystem covering products and tools for the past six years. From the exchange through wallet and public chain to investment, ViaBTC is making concrete efforts to catalyze the progress of the blockchain industry, and we have every reason to believe that its vision of “Being the Infrastructure of the Blockchain World” will come true in the near future.

From nothing to something, ViaBTC serves as a living example of how the infinite imagination based on technical strength and industry foresight makes everything possible. Committed to its great mission of “Via Blockchain, Making the World a Better Place”, ViaBTC is utilizing advanced financial technology to promote the innovation and development of the blockchain industry. For ViaBTC, the real adventure has just begun!