Blockchain
KuCoin Pool Brings Efficient Mining and Lower Fee to Miners Globally
KuCoin, a global leading crypto exchange, is proud to announce the launch of its KuCoin Pool product. The Proof-of-Work mining pool will support global cryptocurrency miners by providing mining revenue after connecting their mining rigs.
Mining is an indispensable part of the blockchain industry as an underlying infrastructure, especially with the dominance of the PoW consensus algorithm. As an important innovation in blockchain history, mining achieved a win-win situation for both blockchain projects and miners, with the former obtaining security and the latter getting rewards. Therefore, loads of miners joined the activities at the initial stage of blockchain development.
However, as the mining difficulty increased, the proportion of individual hashrate is largely reduced to obtain a stable income, except for the fixed costs of electricity, Internet, and equipment maintenance. Therefore, the mining pool was created to pursue a more stable income by connecting global miners to the platform to share hashrate and rewards.
KuCoin Pool is a platform built by KuCoin. It aims to serve global crypto miners who can integrate their mining rigs to the KuCoin Pool and earn continuous rewards. KuCoin team creates the KuCoin Pool concept with over six-year of expertise in the cryptocurrency mining industry. That knowledge offers much lower mining fees than other pools and more efficient mining rewards for those who contribute. Additionally, KuCoin Pool will offer improved mining efficiency and a convenient interface to cater to miners worldwide.
“For existing KuCoin users, it will become straightforward to set up their mining devices to generate passive income right away. Miners can benefit from the one-stop mining service platform and its features to get up and running very quickly,” said Johnny Lyu, CEO of KuCoin, “Our Pool team also wants to provide environmentally-friendly mining solutions. Any miner relying on renewable energy will receive mining fee discounts.”
In the future, the KuCoin Pool will lower the entry threshold for new miners and introduce mining in the cloud. That later option will remove the need for users to install and run the mining hardware themselves. KuCoin wants to give all of its users the ability to enjoy this one-stop mining service and explore its benefits.
Blockchain
$FAR Token ranks first on Bybit exchange and soars to 44%following staking program launch: Coingecko
Farcana — United Arab Emirates based Bitcoin shooter game, has announced that its $FAR token is now ranked first on Bybit exchange. This development comes after the launch of its staking program, which offers users a 60% annual percentage rate (APR) on their $FAR tokens.
The staking program requires users to utilize the Polygon network for staking their announcement. Following the announcement, $FAR token soared to 44% according to Coingecko.
Founded in 2022, Farcana recently raised $10 million in seed funding from Animoca Brands, Polygon Ventures, Fenbushi Capital, and Merit Circle among others. It is built on Unreal Engine 5 and Farcana shares a similar graphical style with Overwatch, a team-based multiplayer first-person shooter game by Blizzard Entertainment. The game is understood to operate under a free-to-play model.
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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
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