BTCC Pool, the bitcoin, bitcoin cash, litecoin, and super bitcoin mining pool run by Bobby Lee's BTCC cryto conglomerate, has switched to a new, transparent model of full pay-per-share (FPPS) cryptocurrency mining.
BTCC Pool also announced that it would start offering 1% mining fees for bitcoin mining. "The new 1% promotion fee that BTCC is offering for bitcoin mining is the lowest fee in the industry," said a representative.
BTCC Pool, which was launched in October 2014, boasts 100% transparency in reward distribution, giving miners peace of mind that there are no hidden hash rate reductions. BTCC Pool has maintained 99.999% uptime since it was launched.
Rather than just seeing how much hashing power they have contributed and how much mining rewards they've earned, miners will also be able to see:
- How much hashing power the pool as a whole contributed to the bitcoin network over the past 24-hours.
- How much the miner contributed to the pool's hashing power over the past 24-hours.
- How much the pool earned in mining rewards over the past 24-hours.
- How much of the pool's mining rewards the miner earned over the past 24-hours based on his/her contributed hashing power during that time period.
- How much in transaction fees the pool earned over the past 24-hours.
- How much of the pool's earned transaction fees the miner earned over the past 24-hours based on his/her contributed hashing power during that time period.
"BTCC Pool's aim going forward is to provide the fairest, most transparent, and most comprehensive digital currency mining services to our customers worldwide," said Denver Zhao, senior vice president of BTCC Pool.
BTCC has been building up a war chest to help it focus on global expansion in the face of a regulatory crackdown in its native China; last month the company said it been acquired by an unnamed Hong Kong-based blockchain investment fund.
The BTCC mining pool mined nearly $900 million worth of Bitcoins in 2017 and its exchange business traded more than $25 billion worth of coins. BTCC's Mobi wallet, which was introduced in March 2017, now has customers from 180+ countries.