BTC.com, the worlds largest mining pool which produced over 20 percent of all mined BTC over the past 12 months, announced that is has opened an Ethereum mining pool on Thursday.
The mining pool will support both Ethereum (ETH) and Ethereum Classic (ETC) and users will have the ability to shift between the two Ethash-based cryptocurrencies to enhance their profitability depending on the current difficulty.
Zhuang Zhong, director of BTC.com’s mining pool says: “Because contracts are charged per line of executed code and miners are rewarded for dedicated hashes using GHOST, Ethereum provides multiple different reward incentives to contribute hash power to the network.”
By making Ethereum mining available to the miners on the network it will lead to a 12 percent growth of the total hashrate of Ethereum over the next 12 months according to BTC.com.
Ethereum is currently using the Ethash algorithm since it’s a Proof-of-Work-based coin, but discussions have been going on to switch to a Proof-of-Stake (PoS) consensus algorithm instead. However, BTC.com said that they are not concerned about this planned transition.
Zhuang Zhong says: “It’s still possible to host a mining pool in PoS mode. It will increase the complexity to design such a pool since miners need to deposit ether to the mining pool, but we have a lot of hands-on experience with wallet and Ethereum smart contracts to make a PoS mining pool possible.”