Since the birth of cryptos including Bitcoin, mining has evolved into an increasingly popular industry, with growing hashrates. Today, going solo no longer fits the market environment, which now requires large-scale, specialized, and global operations. Over the past few years, intensified geopolitical conflicts, sluggish economic growth, tightening government regulations, and frequent black swan events have devastated the entire crypto space, hitting hard on the mining pool sector.
Despite that, a few pools continue to pursue innovation, adapt to changes, and achieve large-scale and specialized operations, thus establishing a firm foothold in the market and recording sustained growth. ViaBTC, founded in June 2016, is well aware of what it takes for a pool to succeed. Over the years, the pool has perfected its products to deliver the best mining services and introduced a wide range of innovative tools, earning the recognition of global miners.
Today, ViaBTC is celebrating its 7th anniversary, which marks the beginning of the pool’s accelerated growth. With mining support for a dozen of cryptos including BTC, LTC, and KAS, ViaBTC is a top player in terms of the hashrate share of coins like BTC and LTC. Looking back at the past seven years, the key to ViaBTC’s success in establishing itself as one of the leading crypto mining companies lies in its constant pursuit of innovation.
Constant Innovation: Technological Progress
A mining pool without robust technical capabilities cannot provide miners with a stable daily revenue. In this competitive industry, such a pool will inevitably be abandoned by miners and eliminated from the race. ViaBTC founder Haipo Yang, an early blockchain advocate, comes from a tech background and is well aware of how important it is for a pool to develop technological expertise. Guided by an emphasis on technology, ViaBTC developed its own Bitcoin client and optimized bitpeer and blockmaster, two underlying modules of BTC pools, to speed up block broadcasting across the network.
This effort has paid off as it addressed the challenge of high orphan rates, allowing ViaBTC to offer one of the lowest orphan rates in the industry.
Constant Innovation: Product Offerings
For crypto mining pools, superior mining experience is crucial for improving market competitiveness and attracting miners. In this regard, ViaBTC attempts to accurately measure the actual needs of miners through comprehensive market research. As it builds great products via real action, this innovative blockchain company has demonstrated its commitment to perfection.
Back in the early days, most pools adopted the PPS and PPLNS payment methods. ViaBTC took a different path and invented the PPS+ payment method on top of PPS and PPLNS to distribute additional transaction fees to miners. This is why miners using the PPS+ method earn slightly higher returns than those using PPS or PPLNS. Additionally, ViaBTC also offers PPLNS and SOLO, so miners can choose the most suitable way to maximize their earnings.
Furthermore, ViaBTC introduced Auto Withdrawal and Auto Conversion to help miners cope with the significant volatility of the crypto market and reduce their losses. With Auto Conversion, a miner’s assets can be automatically converted into BTC or USDT, and if Auto Withdrawal is also enabled, the assets could be automatically and instantly withdrawn to CoinEx Exchange, with zero fees.
Apart from that, ViaBTC has also been a pioneer in financial innovation. The pool offers financial products that include Hedging Service and Crypto Loans, which help miners address the turnover of funds and process their assets more flexibly under extreme market conditions.
As the Ordinals protocol has gone viral, the BTC network now faces frequent congestion. For miners struggling with a congested network, ViaBTC’s Transaction Accelerator provides 100 free acceleration spots every hour, allowing anyone to submit transaction IDs with a transaction fee of 0.0001 BTC/KB or above for fast confirmation, without having to log in to the pool.
Constant Innovation: Team Building
ViaBTC has continued to pursue innovation, which is reflected not only in its technical prowess and product offerings but also in its team building and management. The pool is backed by an efficient, cohesive team of experts from top-tier Internet/finance companies worldwide, over 60% of whom focus on product development and R&D.
Committed to innovation-driven growth, ViaBTC encourages its team members to keep learning and exploring new technologies and business domains. It helps employees polish their professional skills and qualities to adapt to changes in the industry. Moreover, ViaBTC has built close ties with companies in the crypto industry and beyond, organizations, and communities to engage in mutual exchange and unlock progress for the blockchain industry through joint efforts.
In many cultures, “7” indicates good fortune, and the number also represents cycles of time in some places. “7” signifies both the past and the beginning. In the next 7 years, the crypto market will continue to witness rapid changes. For ViaBTC, the next period will present both opportunities and challenges as it believes that a crypto company can only thrive through constant innovation, service improvement, technical progress, and ecosystem expansion.
Together, we are ready for more. ViaBTC will witness the dawn of a new era in the crypto space alongside all users, embarking on another glorious journey!