Will Poolin's New Tool Increase Mining Profitability?
Founded in 2017, Poolin is the second largest mining pool by hashrate. Recently they have launched a second office in Berlin and seem to be set on expanding further. Just a few hours ago Poolin have introduced a new functionality which could help them reach that goal.
Poolin's Hashrate Auto-Switch Feature
As more miners mine a specific cryptocurrency the difficulty algorithm becomes more challenging. This hurts smaller miners' profitability at times. Occasionally the changes in a cryptocurrency's difficulty algorithm causes them to manually switch and mine different cryptocurrencies.
Poolin have released a tool that will help miners switch the currency they're mining automatically.
Currently this tool helps miners automatically switch between BTC mining and BCH mining. BSV is anticipated to be added in the near future. The Hashrate Auto Switch functionality only works on cryptocurrencies using the same algorithm.
"We are thrilled to provide this feature that will increase profits for our miners, this hashrate auto switch continues in the direction that Poolin has been forging, mainly, bringing excellence to this industry and a customer-first service. This seems to make sure that miners will be profitable, but also bolster the hash rates of other cryptocurrencies." said Poolin VP, Alejandro De La Torre
With cryptocurrency prices and difficulty algorithm constantly
changing, the use of such a tool could be very beneficial for miners. It could also help the security of other cryptocurrencies blockchain.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado