Tech

Ed Drake

ViaBTC launches BSV mining pool, offers 70% fee discount

Crypto mining pool ViaBTC has launched a Bitcoin SV (BSV) mining pool, providing users with the opportunity to mine BSV on the platform for the first time.

In an announcement posted Tuesday, ViaBTC said new miners would qualify for a discount of 70% off fees, with bigger discounts for those with higher hashrates. The deal is part of a launch promotion period which will run until July 23.

The notice, published on the ViaBTC website, said both main and sub-accounts could benefit from the promotional discounts.

“During the promotion, all BSV miners, as long as you’re mining on ViaBTC, are qualified to enjoy a fee discount up to 70% off. Higher discounts come with higher hashrates. Discount is applicable to both main & sub accounts for PPS method. The fees will be resumed as usual after the promotion,” according to ViaBTC. “ONLY main accounts are qualified for the promotion. All the hashrates of sub-accounts will be counted into main account. Please refer to Rules of ‘ViaBTC 3rd Anniversary Toast.’”

From June 13, ViaBTC users will be able to switch mining pools with a single click, with a number expected to convert resources to mining BSV this week. Earnings are paid out according to the user’s choice of cryptocurrency, with support for BSV allowing low-cost, instant transactions to external wallets.

It comes at a time of growing demand for BSV, after posting growth of over 250% in May. With merchants and consumers alike increasingly using BSV for its convenience, cost and massive on-chain scalability, the mining pool launches at a time of aggressive growth in the cryptocurrency.

The news has been warmly welcomed on social media, with Twitter users approving of the ability to withdraw funds in BSV to an external wallet, as well as expressing keen interest in participating in the BSV mining pool.

Founded in 2016, Chinese-based ViaBTC has shifted focus increasingly towards BSV, in the run up to the launch of the mining pool.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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