Binance Pool Introduces ‘Smart Pool’ Service

Binance Pool, a cryptocurrency mining platform dedicated to empowering miners and the global crypto mining industry, announced today that it has recently launched a Smart Pool service to enable higher returns for miners.

By auto-switching hash rates to mine different currencies with the same algorithm, the Smart Pool service provides higher hash rates and an increase of returns to its users, according to the firm.

Since launching the service from an exchange-backed mining pool, Binance Pool users and miners gained a 50 percent increase in average returns. Binance Pool has garnered more than 6,000 miners who delivered over 6.52 EH/s in Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain Read this Term from its launch last April to date.

Binance Smart Pool is able to allow all Binance Pool miners to increase their mining revenue by automatically mining the most profitable cryptocurrency and auto-switching their hash rate to mine different Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term with the same algorithm, the firm explained.

Currently, Smart Pool supports the SHA256 algorithm which allows miners to use their computing power to mine BTC, BCH and BSV. Even if miners are mining different cryptocurrencies, Binance Pool pays them the final mining settlement in BTC.

Smart Pool features

Binance Smart Pool features include instant settlements in BTC and a guaranteed minimum of BTC income.

With real-time hedging, it ensures that final revenues are never lower than the general income from the FPPS models. If a final revenue hits levels lower than the general FPPS income, Binance Pool pays the difference.

Existing Binance Pool users are able to easily switch to Smart Pool with a one-click switch available on the Binance Pool interface without changing the mining stratum URL or user ID.