The KuCoin exchange launched the KuPool mining pool. The platform announced that the project was led by Chris Zhu, co-founder of BTC.com (later renamed Clover Pool) and Poolin pools. RBC Crypto writes about this.
KuPool currently supports cryptocurrency mining using the Scrypt algorithm. These are Litecoin (LTC), Dogecoin (DOGE), Bellscoin (BELLS), Pepe (PEPE) and Luckycoin (LKY). They promise to add support for Bitcoin mining (SHA-256 algorithm) soon.
The message emphasizes that KuPool is integrated with the KuMining cloud mining platform and the KuCoin exchange. The combination of the three products creates a comprehensive ecosystem with a “closed loop” including hashrate generation, mining and asset management, the press release said.
KuPool uses multi-layer encryption, real-time monitoring and strict operational security measures, the project team says. The platform also states that the process of profit distribution between pool participants can be tracked.
“KuPool has taken the technical and professional advantages of traditional mining pools and transformed the structure of this industry, making it more transparent and financially oriented. We leverage KuCoin’s global ecosystem and our years of experience to provide users with reliable income,” said Chris Zhu.
KuCoin is not the first crypto exchange to include a mining pool in its ecosystem. One of the largest pools – ViaBTC – is integrated with the CoinEx exchange, Binance also has its own service for mining cryptocurrency – Binance pool.
Mining pool was previously on OKX. At the beginning of 2024, the exchange announced its closure, citing “business adjustments” as the reason for this decision.
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