Cryptocurrency trade KuCoin is rolling out a brand new mining pool service referred to as KuPool that helps belongings reminiscent of: dogecoin (Doge), litecoin (LTC) and ultimately Bitcoin (BTC), the corporate introduced on Thursday.
KuPool will combine KuMining capabilities with the corporate’s present crypto exchanges to supply customers with safe mining providers throughout the present KuCoin ecosystem.
“As a brand new mining pool service below the KuCoin ecosystem, KuPool stands out from different mining swimming pools by its trust-based, verifiable hashrate mechanism and tight integration with KuCoin and KuMining,” an organization spokesperson stated. decryption.
“Particularly, KuPool positions ‘verifiable hashrate’ as a core belief asset and employs an environment friendly, low-latency, and traceable revenue distribution mechanism to make sure that the world’s miners obtain a good and auditable reward distribution,” they added.
mining pool Collect a bunch of unbiased miners, be part of assets to extend your probabilities of successful blocks, and earn token rewards.
KuPool’s mining pool service opens with a give attention to simplicity and safety, permitting entry to the mainstream proof of labor (PoW) and mining belongings reminiscent of DOGE, LTC, and BELLS to supply an expertise that caters to learners {and professional} miners alike.
Help for Bitcoin, the biggest crypto asset by market capitalization and most outstanding proof-of-work token, is anticipated to launch quickly.
The corporate created KuPool with belief in thoughts, a consultant stated. decryptionsuggesting that’s the differentiating issue that distinguishes the pool from present choices.
“Belief-based mining is greater than only a technological innovation, it’s an extension and sensible embodiment of the model’s core philosophy,” they stated.
“Within the context of KuPool, trust-based mining seems as the basic help for changing hashrate right into a trusted asset. Miners can see their contributions and rewards in actual time, decreasing data asymmetry. On the identical time, the platform integrates multi-layer encryption and compliance requirements to make sure the safety of belongings.”
From a enterprise perspective, the corporate stated a brand new service can be thought of profitable when it begins to keep up a excessive hash charge, or computational energy, steady yield, and excessive person retention.
Extra broadly, KuPool’s mission is to “promote a extra equitable world hash charge distribution by openness, transparency, and innovation.”
