{"id":15052,"date":"2024-07-09T13:07:20","date_gmt":"2024-07-09T10:07:20","guid":{"rendered":"https:\/\/forklog.com\/en\/mining-pools-in-2024-viabtc-explains\/"},"modified":"2024-07-09T13:07:20","modified_gmt":"2024-07-09T10:07:20","slug":"mining-pools-in-2024-viabtc-explains","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mining-pools-in-2024-viabtc-explains\/","title":{"rendered":"Mining pools in 2024: ViaBTC explains"},"content":{"rendered":"

According to Miningpoolstats<\/a>, in 2024 the ViaBTC pool entered<\/a> the top three by Bitcoin hashrate and mined the halving block #840,000, collecting 37.6256 BTC in fees.<\/p>\n

With the help of ViaBTC<\/a> and CoinEx<\/a> CEO Haipo Yang, we discuss mining of digital gold and Kaspa (KAS) in 2024 and explain how to join a pool.<\/p>\n

ViaBTC in brief<\/h2>\n

The founder of ViaBTC<\/a>, Haipo Yang, wrote the pool\u2019s code himself. He finished development in May 2016, and a month later ViaBTC mined its first block. On June 5, 2024, the pool marked its eighth birthday.<\/p>\n

\n\u201cLike most people, I initially considered the concept of bitcoin too fantastical, but over time I still realised its value. Since 2014 I have taken part in various projects to develop cryptocurrency mining hardware and software for mining pools,\u201d notes Haipo Yang.<\/em><\/cite><\/p><\/blockquote>\n

At launch, ViaBTC entered a competitive market: about 18 pools operated<\/a> on the Bitcoin network.<\/p>\n

After CoinEx went live in 2017, ViaBTC clients could automatically withdraw earnings to the exchange with zero fees. Thanks to auto-conversion support, the pool distributes proceeds every hour.<\/p>\n

At present, ViaBTC supports ten cryptocurrencies: bitcoin (BTC), Bitcoin Cash (BCH), eCash (XEC), Litecoin (LTC), Ethereum Classic (ETC), Zcash (ZEC), Dash (DASH), Nervos Network (CKB) and Kaspa (KAS).<\/p>\n

ViaBTC began mining the latter in 2024 and has already entered<\/a> the top five pools for this asset. At the time of writing, ViaBTC\u2019s computing power on Kaspa stands<\/a> at almost 36 PH\/s.<\/p>\n

\n\u201cKaspa is one of the most interesting PoW cryptocurrencies on the market: over the past year the project\u2019s value has risen by 600%<\/a>. We have devoted a lot of time and resources to mining KAS, which has allowed us to take leading positions in mining this coin fairly quickly. Among the ten largest Kaspa pools we are the only one to offer the PPS+<\/span> payout model,\u201d said Haipo Yang.<\/cite><\/p><\/blockquote>\n

ViaBTC also pays referral rewards. Participants in the referral programme<\/a> receive a rate<\/span> of 10% for 12 months, while ambassadors<\/a> earn 20% on a permanent basis. <\/p>\n

The pool\u2019s team explained<\/a> how to become an ambassador in an article on ViaBTC\u2019s website. For this and other issues, clients can contact the Russian-language support service on Telegram<\/a>.<\/p>\n

Why miners choose pools<\/h2>\n

There are two types of mining: solo<\/span> and pooled. In the first case, bitcoins belong to the miner who finds the block; in the second, to pool participants who combine hashrate and split the reward.<\/p>\n

In 2024 almost all bitcoins are mined<\/a> by pools, with only occasional solo finds. Pools are popular because of:<\/p>\n