Recently, Binance Pool announced the official launch of Fractal Bitcoin (FB) merged mining service, which is undoubtedly exciting news for Bitcoin miners. Through this innovative mining method, miners can earn additional rewards of Fractal Bitcoin (FB) while mining Bitcoin (BTC).
#### What is Fractal Bitcoin (FB)?
Fractal Bitcoin is an expansion solution based on the Bitcoin blockchain, aimed at improving the scalability of the Bitcoin network. By adopting technology from Bitcoin Core, FB allows for the expansion of network functionality and capacity while maintaining consistency with the Bitcoin main chain. Its emergence is considered an important attempt to address Bitcoin network congestion and enhance transaction speed.
#### Advantages of Merged Mining
Merged mining is a technology that allows miners to mine for multiple blockchains simultaneously. For miners, here are some significant advantages:
1. **Zero Additional Cost**: Miners do not need to purchase new equipment or pay additional electricity fees, as they can use their existing Bitcoin mining power for FB mining.
2. **Additional Earnings**: While mining BTC, miners can receive FB as a reward, which means increased earnings with the same time and resource investment.
3. **Seamless Integration**: For miners, participating in FB merged mining does not require any changes to existing mining strategies or setups. It can be said that this is a form of 'additional earnings' model.
#### How to participate in Binance Pool's FB merged mining?
1. **Register a Binance Account**:
- If you do not have a Binance account yet, you need to register and complete identity verification first. This provides you with the assurance to participate in mining securely.
2. **Join Binance Pool**:
- Visit the official website of Binance Pool and register a mining pool account. Ensure that your mining equipment is properly configured to support FB mining.
3. **Start Mining**:
- Starting from November 18, 2024, miners can participate in BTC mining through Binance Pool while receiving FB rewards. According to Binance's announcement, miners can refer to the 'Binance Bitcoin (BTC) Mining Tutorial' to configure their mining.
4. **Revenue Distribution**:
- FB mining rewards will be distributed based on miners' contributions, typically using the PPLNS (Pay Per Last N Shares) payment scheme.
#### Conclusion
Binance Pool supports merged mining of Fractal Bitcoin, providing miners with an innovative way to enhance their mining earnings. This is not only an enhancement of Bitcoin mining but also an expansion and optimization of the Bitcoin ecosystem. Miners can now participate in the maintenance of the Bitcoin network while enjoying the additional earnings brought by Fractal Bitcoin without extra effort and costs.
Whether you are a long-term Bitcoin miner or a new investor in the cryptocurrency mining field, this new feature of Binance Pool provides you with an efficient and economical way to expand your mining earnings. As the cryptocurrency market continues to evolve, this merged mining model may become the choice of more mining pools and cryptocurrencies, further promoting the prosperity and development of the entire blockchain ecosystem.
