Tracing the Development of Crypto Mining

HONG KONG, Might 24, 2023 /PRNewswire/ — Again within the early days of Bitcoin, mining may very well be achieved utilizing CPUs put in on private computer systems. Nevertheless, because the community grew, so did its processing calls for, resulting in the necessity for extra highly effective mining {hardware}. In 2010, Laszlo Hanyecz launched GPU mining code, and subsequently, in 2011, the code for FPGA mining machines was shared on GitHub. By 2012, the mainstream BTC mining machine had developed to ASIC fashions, which changed CPUs, GPUs, and FPGA units, resulting in a major improve in Bitcoin hashrate, which grew by 360,000,000 instances from 2010 to 2012.

As Bitcoin’s hashrate continued to extend, solo mining grew to become more and more difficult, resulting in the creation of the primary mining pool in 2010. As we speak, ViaBTC stands as a prime participant within the crypto mining {industry}, marking its seventh anniversary with a celebration of its success and continued evolution.

Mining swimming pools require robust technical capability, and lots of swimming pools have struggled to satisfy the technical necessities of the {industry}, resulting in assaults and eventual shutdowns. Having acknowledged the immaturity of the applied sciences and merchandise throughout the {industry}, Haipo Yang, an early Bitcoin developer, got down to create a extra secure and environment friendly pool. He independently developed the coding for the ViaBTC Pool, which formally went dwell on June 5, 2016.

“By making a secure and environment friendly mining pool, we goal to offer our customers with the instruments and capabilities they should mine cryptocurrencies with ease and confidence,” stated Haipo Yang, Founding father of ViaBTC.

Shortly after, ViaBTC launched the PPS+ fee methodology, which ensures secure mining income whereas sharing miner charges, permitting ViaBTC miners to earn extra cash than their counterparts in different swimming pools. Mainstream swimming pools quickly adopted the PPS+ fee methodology.

At ViaBTC, expertise stays a prime precedence. The pool has optimized the broadcasting and transmitting technique of the BTC community by way of its independently developed BTC purchasers, leading to a decrease orphan fee and guaranteeing secure mining income. Up to now, ViaBTC stays the mining pool with the bottom orphan fee.

Over time, ViaBTC has frequently launched new capabilities and instruments to reinforce its mining companies and supply customers with quicker and extra secure computing energy. These embrace the Transaction Accelerator, Auto Conversion, Good Mining, Hedging Service, Crypto Loans, and Hashrate Fluctuation Notification.

As we speak, ViaBTC gives mining companies to over a million customers in over 130 international locations and areas, overlaying 10+ cryptocurrencies, together with BTC and LTC. With industry-leading hashrates and a multi-billion greenback mining output worth, ViaBTC is among the prime gamers within the crypto {industry} and one of many few firms to rejoice its seventh anniversary.