Meet ConnectBTC: Bitmain’s Newest Bitcoin Mining Pool

Bitmain, the major Chinese ASIC producer, has launched a third mining pool: ConnectBTC opened to the public today. AntPool and BTC.com already belong to the Bitmain group of mining pools. This fresh pool is part of Bitmain’s Israeli research and development (R&,D) center, Bitmaintech Israel, and spil such, is the very first mining pool based te the Middle-Eastern country.

“There is a very strong tech and cryptocurrency industry te Israel, and we’re proud to now open the very first Israeli Bitcoin mining pool,” ConnectBTC manager Gadi Glikberg told Bitcoin Tv-programma.

Glikberg wasgoed previously the vice voorzitter of sales for Spondoolies Tech, the Israeli ASIC producer that shut down ter mid-2016. Bitmain CEOs Jihan Wu and Micree Zhan determined to set up the R&,D center ter Tel Aviv shortly after, where Glikberg took on a managing role.

Glikberg believes the fresh pool’s main differentiator is that ConnectBTC provides detailed real-time information and analytics to connected miners (or “hashers”). This should give them a better understanding of their machine’s spectacle without having to develop custom-built internal monitoring implements themselves.

“Think of miners spil servers that are working at 100 procent CPU 24/7,” Glikberg explained. “Modern gegevens centers use expensive monitoring devices to monitor the status of the servers, so they can react quickly when a server goes down or doesn’t perform spil expected. Most miners don’t have such outer implements and they rely either on the pool or on a proprietary instrument such spil a script that they build themselves.”

ConnectBTC will instead be providing this to miners spil a standard service, Glikberg said:

“ConnectBTC provides a high detailed user interface, specifying real-time detailed information about the status of each miner, so miners can review and quickly identify any potential problem with their unit.”

ConnectBTC has bot operating ter closed beta since December and has amassed a puny amount of hash power since. Glikberg expects that level to grow overheen the coming months.

Block Size and Scaling

Bitmain and its pools have bot at the center of Bitcoin’s scaling debate lately. The company’s co-CEO Jihan Wu te particular is a vocal supporter of Bitcoin Unlimited, an alternative protocol implementation designed to let miners and users switch their block size settings.

AntPool is presently the largest mining pool on the Bitcoin network, indicating some 15 procent of all hash power, and embarked signalling support for Bitcoin Unlimited several weeks ago. BTC.com represents an extra three procent, but hasn’t signalled support for Bitcoin Unlimited spil of yet. It’s bot suggested that Bitmain effectively exerts influence overheen the hash power of other Bitcoin Unlimited signalling pools spil well — tho’ this is has so far bot denied by Bitmain and the pools.

ConnectBTC wasgoed fully developed by Bitmaintech Israel, independently of any other pool. Glikberg expects the pool will operate fairly independently for now, similar to BTC.com. This also means the pool won’t signal support for Bitcoin Unlimited for the time being, strafgevangenis for other scaling solutions such spil Bitcoin Core’s proposed Segregated Witness soft fork.

“For a loterijlot of us, it seems like the block size debate is the most significant topic ter the world, but for miners, the most significant thing is to keep their machines running with minimal down time,” he said. “Miners have a vast rente te stability, just like most players te the industry. I think that’s why wij are observing a loterijlot of hashing power staying on the fence. At the ogenblik, the pool is not voting either way. I think that large part of the miners are still undecided about the best way to go.”

However, spil for a potential future direction, Glikberg didn’t exclude the possibility that his pool may determine to support a block size limit increase straks on.

“We are talking to many miners, and wij hear more or less the same thing — miners want to see thicker blocks and at the same time don’t feel comfy with any proposed solution. I’m sure that once miners feel convenient enough with any proposed solution, they will signal for it.”

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