OKEx Pool Among Top 5 Mining Pools Charts Future Path for the Industry

OKEx Pool, a global integrated mining pool from OKEx, is offering a one-stop mining and trading service for its users from across the world. The mining pool, not confined to any one specific cryptocurrency, is known for the variety of mining services it offers for Proof-of-Work (PoW), Proof-of-Stake (PoS) and PoS-variant cryptocurrencies. Cryptocurrency mining has been a very lucrative activity where people managed to earn a small fortune with their own mining set up. But eventually, as dedicated mining hardware became more powerful and difficulty levels increased, mining crypto by oneself has become uneconomical. In order to tackle the issue, people have increasingly started to pool their resources to increase efficiency, thereby creating mining pools. OKEx Pool is one such comprehensive cryptocurrency mining pool created by the leading digital asset exchange and trading platform OKEx. By providing a one-stop service for most of the crypto-related activities, OKEx Pool is allowing the miners on its platform to put not just their mining resources but also earnings to good use over a single window. The mining and trading services also help miners maximize their yields as high as 15%. OKEx Pool enjoys a large client base with high satisfaction ratings, making it one of the top 5 mining pools within 3 months of its launch. With the aim of applying blockchain technology to tackle the demands in various fields, the platform offers an entire package, including mining, trading, and staking products, along with a sophisticated risk control system. The 24/7 one-on-one customer service is also one of its outstanding features. Alina Yao, the Head of OKEx Pool, differentiates the platform from others by saying, “Different from other mining pools, OKEx Pool aims to become a global leading integrated mining pool which supports both PoW and PoS/POS-variant mining. Not only do we support 13 major crypto assets for PoW mining, but we also provide hedging and staking services to meet the diversified demands in the market.” OKEx Pool has grown aggressively in the crypto mining space. It currently has a BTC hash rate of over 7490P along with a solid PoS mining base. It is also involved in the development of around 20 blockchain projects, including EOS, COSMOS, VSYS, IOST, LAD, and more as a supernode. OKEx Pool believes in blockchain technology as an ideal solution to empower the real-world economy as it has the potential to transform the current systems into more efficient ones. There are many blockchain solutions at present that have adopted different consensus mechanisms. The diversity in consensus solutions allows users to choose the one that is right for them. For OKEx Pool, there is no best, or the worst consensus as the platform intends to extend equal support for each one of them and foster further innovation in the sector. “We appreciate the diversity of consensus solutions as they offer the market many choices, and we will continue to be open-minded to any new consensus protocols that may come in the future. In the future, the ecosystem of mining pools will become more diversified, and cryptocurrencies with different consensus protocols will be able to interact,” said Alina. At present, mining pools are relatively new businesses in the cryptocurrency space, and every player in this space is on a lookout for new, sustainable profit models based on what they are already offering. Being part of OKEx, the OKEx Pool can leverage a lot of existing products currently provided by the company and provide a host of services to the community that’s part of the pool. While explaining the future of mining pools, Alina said, “In my opinion, mining pools should develop into digital asset management platforms with unique advantages. Like many global asset management firms, investment consultant fees, asset management fees and collateralized lending could be the sources of income for mining pools. While today the major income of mining pool comes from management fees, I see huge potential for industry players to develop the other two aspects.” It also outlines the current strategy that OKEx Pool seems to have adopted, and at this rate, it might become the first mining pool to achieve the goals Alina outlined. Image by WorldSpectrum from Pixabay

Via https://www.newsbtc.com/2020/03/14/okex-pool-among-top-5-mining-pools-charts-future-path-for-the-industry/