Crypto Mining Company ViaBTC Adds Monero To Its List Of Mining Pools
Crypto mining company, and developer of one of the top bitcoin mining pools in the world, ViaBTC launched a Monero (XMR) mining pool on September 28th, 2018.
To start off the launch the company has introduced a 50% fee reduction for XMR mining from September 28th to December 28th, 2018. The fees will resume as usual after the promotion ends.
Monero is a cryptocurrency that relies on proof-of-work mining to achieve distributed consensus. It is currently the #10 cryptocurrency in terms of market capitalization. Mining pools allow miners to receive more frequent payouts by reducing the variance involved in cryptocurrency mining. With the launch of this pool, ViaBTC aims to take on the biggest pools such as Minergate, Nanopool, and mineXMR.
Monero mining hasn’t caught much of global attention due to its CryptoNight algorithm that focuses on ASIC resistance. Due to this algorithm being ASIC resistant, cheaper GPU’s and CPU’s can be used by the average person allowing them to contribute to the network fairly.
How to Mine XMR Through ViaBTC?
- Configure mining address：stratum+tcp://xmr.viabtc.com:8888 (Note: Port 80 is available too.)
- After setting, your mining payout will be calculated by the payment coin you set. You can see your payouts in “My Bills”.
More about ViaBTC
ViaBTC is one of the younger platforms in the cloud mining industry, opening its business in the summer of 2016. The mining pool where investors can put their money into resembles the plans offered by Genesis Mining and Hashflare.
Up till now, the company offered cryptocurrencies for mining plans, them being Bitcoin, Litecoin, and DASH. Monero became the 4th in the list. The company implements two sets of fees, one being maintenance costs and other, management fee. The first depends on the plan itself, while the management fee stands at 6% of the total investment amount.
ViaBTC now supports 3 payment methods: PPS+, PPLNS, and SOLO.