ConnectBTC is a relatively new bitcoin mining pool from Bitmain. Find out how it works today in our review.
What is ConnectBTC?
ConnectBTC is a mining pool launched by Bitmain, the major Chinese ASIC maker. It’s the third pool launched by the company.
ConnectBTC opened to the public in April 2017, joining AntPool and BTC.com as Bitmain’s three major mining pools.
The new pool is part of Bitmain’s Israeli research and development center called Bitmaintech Israel, making ConnectBTC the first mining pool based in Israel.
Today, ConnectBTC has a hashrate of 2.44 PH/s.
What Makes ConnectBTC Different?
What makes ConnectBTC different from other mining pools? The main difference is that ConnectBTC provides detailed, real-time information and analytics to connected miners (“hashers”), giving them a better understanding of their machine’s performance.
In other words, miners don’t have to individually install or develop custom internal monitoring tools on their own.
With other mining pools, they either have limited statistics, or miners need to build the scripts themselves. ConnectBTC works differently, providing these statistics to miners as a standard service.
The analytics platform consists of a highly-detailed user interface featuring real-time, detailed information about the status of each miner, allowing miners to review and quickly identity any potential problems with their unit.
Who’s Behind ConnectBTC?
ConnectBTC is managed by Israeli entrepreneur Gadi Glikberg, who was previously the vice president of sales for Spondoolies Tech, the Israeli ASIC producer that shut down in mid-2016. Shortly after that shutdown, Bitmain CEOs Jihan Wu and Micree Zhan decided to launch their R&D center in Tel Aviv, with Glikberg taking a managing role in that center.
ConnectBTC launched in closed beta in December 2016 before officially launching to the public in April.
ConnectBTC was fully developed by Bitmaintech Israel, and it’s fully independent from other pools in the Bitmain network – similar to BTC.com. That means the pools won’t all necessarily signal support for various protocols at the same time. Earlier this year, for example, there was some controversy over when BTC.com and ConnectBTC would declare support for Bitcoin Unlimited after Bitmain’s co-CEO Jihan Wu (and the company’s biggest mining pool, AntPool), declared support for BU.
The ConnectBTC mining pool has all of the following core features:
Worldwide Pool: ConnectBTC describes itself as “the leading public pool that is designed, developed and deployed across the globe.”
Stability & Scalability: ConnectBTC uses a “unique design and deployment methodology” involving the use of existing infrastructure around the world, then employs redundancy and backups to ensure the highest possible uptime and resiliency.
High Profitability: ConnectBTC’s pool claims to keep on running while keeping fees low, allowing you to maximize your profits.
Hashrate: 2.45 PH/s
Pay Per Share: As of November 2017, ConnectBTC continues to offer 110% pay per share (PPS), up from 106% at launch.
ConnectBTC charges 0% on pay per share (PPS), then subsidizes users an additional 10%, giving users a total of 110% of the block reward.
There are no transaction fees when the pool pays out. Payments are done on a daily basis, with a minimum of 0.001 BTC required to withdraw.
ConnectBTC is Chinese giant Bitmain’s third bitcoin mining pool, after AntPool and BTC.com. The pool is based in Israel, where it was developed by an Israeli research team. It’s the first mining pool based in Israel.
ConnectBTC has a few major differences from other mining pools. First, it provides real-time detailed information and analytics to connected miners, which means they can view real-time statistics at any time without developing their own scripts. Another advantage is that ConnectBTC offers 110% PPS.
The mining pool was announced in April 2017 after undergoing beta testing from December 2016 onward. You can learn more about the pool at their official website at ConnectBTC.com.