{"id":8558,"date":"2021-08-25T10:25:16","date_gmt":"2021-08-25T09:25:16","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=8558"},"modified":"2021-08-25T10:25:21","modified_gmt":"2021-08-25T09:25:21","slug":"kucoin-introduces-a-proof-of-work-pool-to-encourages-greener-crypto-mining","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/kucoin-introduces-a-proof-of-work-pool-to-encourages-greener-crypto-mining\/","title":{"rendered":"KuCoin introduces a proof-of-work pool to encourages greener crypto mining"},"content":{"rendered":"\n
KuCoin cryptocurrency exchange, is introducing a mining pool to pay proof-of-work miners <\/a>when they integrate their rigs. The pool would encourage miners to use environmentally friendly solutions by offering fee reductions in mining.<\/h5>\n\n\n\n
\"KuCoin<\/figure>\n\n\n\n

The exchange stated in a statement on Wednesday that its KuCoin Pool offering will allow miners\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> all over the world to contribute to Bitcoin (BTC) and Bitcoin Cash (BCH) mining pools and share rewards.<\/p>\n\n\n\n

Miners must now install and run the requisite gear in order to join the pool, however, KuCoin has stated that cloud mining will be available in the future.<\/p>\n\n\n\n

KuCoin CEO Johnny Lyu further claimed that the pool would encourage miners to use environmentally friendly solutions by offering fee reductions to those who mine with renewable energy sources.<\/p>\n\n\n\n

The decision appears to be part of a trend<\/a> in which many mining companies are switching to cleaner or renewable energy sources.<\/p>\n\n\n\n

\u201cIt will be simple for existing KuCoin users to set up their mining devices to produce passive money right away,\u201d Lyu said. \u201cMiners can take advantage of the one-stop mining service platform and its capabilities to swiftly get up and running.\u201d<\/p><\/blockquote>\n\n\n\n

Crypto exchanges and mining pools<\/h2>\n\n\n\n

When compared to large corporations like Binance, which opened its mining pool in April 2020<\/a>, the exchange is late to mining.<\/p>\n\n\n\n

Antpool, which is controlled by Chinese mining giant Bitmain, Poolin, ViaBTC, and F2Pool are among the largest BTC miners, according to blockchain statistics.<\/p>\n\n\n\n

KuCoin, which was founded in 2017, announced this week that it has surpassed 10 million users, an increase of 1,114 percent over the previous year.<\/p>\n\n\n\n

Hackers took $275 million from the exchange last year<\/a>, but KuCoin was able to recover the majority of the assets.<\/p>\n","protected":false},"excerpt":{"rendered":"

KuCoin cryptocurrency exchange, is introducing a mining pool to pay proof-of-work miners when they integrate their rigs. The pool would encourage miners to use environmentally friendly solutions by offering fee reductions in mining. The exchange stated in a statement on Wednesday that its KuCoin Pool offering will allow miners all over the world to contribute […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-8558","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=8558"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/8558\/revisions"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=8558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=8558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=8558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}