Bitcoin miners now have a new mining pool available to join efforts in harvesting cryptocurrency. Bitfarms Technologies has commercially launched Bitfarms Pool, a new Bitcoin mining pool. The platform runs on company’s proprietary redundant and custom server architecture.
The principle behind a Bitcoin mining pool is that all the users “pool” their computing resources together. The total processing power of all the computers connected to the platform is available to all the miners. The benefits (block rewards) are split in proportion to the amount of work each of them contributed to the probability of identifying a block.
Incentives for New Users
The blockchain company has created an incentive program for the first members to join its Bitcoin mining pool. Users who join before November 15, with over 5 terahash, will enjoy a lifetime 0% fee on PPS (pay per share) block rewards and block transactions.
The Bitcoin mining platform also offers a competitive deal for those who open an account later. They will enjoy a 1% fee for PPS block rewards and block transactions. Bitfarms Technology is also working on a Customer Referral Program. The company will define adequate rewards for active referrals.
A 100% Custom Built Bitcoin Mining Platform
Bitfarms Pool is an in-house developed project. Speaking of the development work behind the mining pool, Pierre-Luc Quimper, the President and founder of Bitfarms Technologies stated:
Our pool has been built by our own developers, who have extensive experience in building and maintaining IT infrastructures. This achievement is another step towards our goal of being a fully vertically integrated blockchain company.
The company has already migrated most of its current miners onto the new platform. They monitored its performance for one month, and
have been very pleased with the pool’s consistent performance. For that reason, the company is now confident in the commercial launch of their Bitcoin mining pool.
A Look Inside the New Bifarms Pool Mining Platform
Bitfarms Pool runs on proprietary server architecture developed by Bitfarms IT engineers. These servers are located in Canada. They have low latency and advanced security ensured by the public-access stratum nodes deployed all over the world. These nodes allow miners to connect to the closest server to their location, reducing latency in all computing processes.
The front end of Bitfarms Pool has a user friendly design. It has a simple menu structure and an easy to read main Dashboard. An experienced team in blockchain technology and mining will offer technical support to users. Bitfarms Pool is also compatible with AsicBoost, the method for reducing Bitcoin mining costs.