After launching its Bitcoin (BTC) mining pool in April, crypto exchange BINANCE has now launched an in-house mining pool for the largest altcoin by market cap, Ether (ETH). For the first month, between November 12 and December 12, Binance is trying to attract miners by offering a zero fee regime. After that, those who contribute their hash power to the pool will be charged a competitive commission of 0.5% on their earnings.
Binance's instructions for setting up an account in the mining pool state that participants will need to use a Windows or Linux operating system, GPU (minimum 4G NVIDIA or AMD graphics card memory), 5GB virtual memory for each GPU and software of mining like HiveOS or EasyMiner.
The Ethereum mining pool will use a similar system to the existing Bitcoin pool, called FPPS or Full Pay Per Share. Binance's Bitcoin pool also offers a feature called a smart pool, which allows participants to automatically change hash rates to mine the most profitable of the three supported currencies based on the SHA-256 algorithm: Bitcoin (BTC), Bitcoin Cash ( BCH) or Bitcoin SV (BSV). The deal is still paid in BTC. And this is just the beginning of everything that binance brings together with ETH, this crypto brings them, you will remember me.
