Cryptocurrency exchange Binance has announced it will launch its own bitcoin mining pool called 'Binance Pool'.
The pool reportedly supports both Proof of Work-based and Proof of Stake-based mining services.
Binance Pool is committed to empowering the global crypto mining industry and the miners by bridging traditional mining with the trading services and financial tools on Binance.com.
"As an integral part of the global crypto market, empowering miners will therein enable significant growth and scale in the larger industry," said Binance CEO Changpeng Zhao.
By providing the miners with stable income and the opportunity to maximize their assets, the platform expects to incentivize PoW-based miners to continue the mining efforts in the events of halving or downward price movements, and shape the dynamics of PoS-based mining landscape, an official press release shared with iHodl states.
Binance Pool has a rate of up to 2.5% with a zero starting rate for BTC miners at launch to May 31, 2020.
Earlier iHodl reported that Binance launched new crypto & fiat mobile app for African users called Bundle.
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