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Author Topic: From Nothing to Something: ViaBTC Keeps Pace with the Blockchain World  (Read 1194 times)

CoinEx

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Back to January 3, 2009…

Bitcoin had its genesis block mined that day, and Satoshi Nakamoto recorded the front page headline of The Times on the block, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”, which marks the start of the crypto history.



From the genesis block to the time it came to the public spotlight, Bitcoin has been subject to voices of question, rejection, and abuse. Almost at the same time, the disadvantages of the conventional financial payment system became increasingly prominent, as incidents such as the subprime mortgage crisis in the United States and the debt crisis in Cyprus led to the collapse of trust based on the conventional financial system. As a result, some people resorted to Bitcoin.

As Bitcoin believers gather momentum, there has been a growing consensus about Bitcoin, and Bitcoin advocates started to obtain BTC rewards through “mining”. As we all know from the past market experience, “When something becomes profitable, people rush to it.”

The influx of miners and the increasing hashrates have sent the mining difficulty skyrocketing and the probability of mining Bitcoin spiraling downwards. In order to get continuous and stable income, some proposed to merge the computing power of all miners into one for mining and then “distribute the rewards according to the work”, which gave birth to the mining pool.

In 2010, the first Bitcoin mining pool was established;
In 2012, ASIC mining rigs emerged;
In 2013, with the advent of Ethereum, the hashrates of Bitcoin reached 952.3 PH/s;
In 2015, Bitcoin gained increasing attention, with its price hitting $495.
During this period, Bitcoin mining pools of different sizes appeared one after another, but none of them injected new vitality into the industry. Not until May 2016 when ViaBTC Pool was launched, in a legendary way.

From scratch, the founder Haipo Yang completed all the coding and deployment of ViaBTC Pool independently in just two months, and managed to launch it in June 2016. In October of the same year, ViaBTC Pool initiated the PPS+ settlement method in response to the needs of the majority of miners and the market. This move has pushed ViaBTC Pool, which was only 4 months old at that time, to the world’s top five by Bitcoin hashrates.



The next year in 2017, Bitcoin, which had remained little known for a long time, finally embraced a boom. At the same time, numerous cryptocurrencies emerged one after another, including many PoW currencies. According to statistics from CoinMarketCap, there are hundreds of PoW cryptocurrencies, with more than 20 mainstream ones such as BTC, ETH, and LTC.

Considering that Bitcoin mining service alone cannot meet the needs of most miners in the market, ViaBTC Pool has successively rolled out supporting services based on crypto mining in the six years since its establishment, and currently supports as many as 17 mining services covering most of the mainstream PoW cryptocurrencies on the market. It is noteworthy that ViaBTC Pool ranks sixth by Bitcoin hashrates (21.17EH/s) and first by Litecoin hashrates (123.3TH/s) in the world.

Moreover, to offer miners a more comprehensive, better and more convenient one-stop mining services, ViaBTC Pool has never ceased its efforts of innovation for the past six years, and has launched innovative financial products such as Transaction Acceleration, Crypto Loans and Hedging Service, all of which have been well received by miners upon roll-out.

This June marks the sixth anniversary of ViaBTC. Relying on its development advantages, ViaBTC, which started as a mining pool, has created and constantly improved its all-encompassing ecosystem covering products and tools for the past six years. From the exchange through wallet and public chain to investment, ViaBTC is making concrete efforts to catalyze the progress of the blockchain industry, and we have every reason to believe that its vision of “Being the Infrastructure of the Blockchain World” will come true in the near future.

From nothing to something, ViaBTC serves as a living example of how the infinite imagination based on technical strength and industry foresight makes everything possible. Committed to its great mission of “Via Blockchain, Making the World a Better Place”, ViaBTC is utilizing advanced financial technology to promote the innovation and development of the blockchain industry. For ViaBTC, the real adventure has just begun!

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CoinEx

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Six Years of Relentless Efforts: ViaBTC is Always on the Way
« Reply #1 on: May 26, 2022, 09:10:38 AM »
BTC mining has evolved from CPU to GPU and finally to ASIC, setting off a hardware “arms race”. Since more advanced mining chips are introduced, the hashrate of mining rigs has been on the rise, making mining extremely difficult. Meanwhile, hashrates are centralized by big mining farms and large institutions, and retail miners now struggle to gain the right of block updating solely relying on their own hashrates. To stay in the game, more and more miners choose to join a mining pool for stable mining revenue.

Before choosing one from many mining pools out there, miners should think about the following factors. First, brand recognition. In general, famous pools are more reliable because they are often highly recognized by the miner community. Second, user experience in both the products and the services the pool provided. A pool with a full range of products, in most cases, enables efficient and convenient mining experiences. All in all, brand recognition, user experience in products and services are all backed by the tech capacity of the team behind the pool. Strong tech capacity allows a pool to offer a sound mining environment, so as to better safeguard the interests of miners.



6 years of solid steps: ViaBTC is reliable and trustworthy
In March 2016, Haipo Yang, the founder of ViaBTC, developed and deployed ViaBTC Pool on his own. Only two months later, ViaBTC Pool was officilally launched. In June that year, the BTC pool was introduced. To improve the mining revenue, ViaBTC Pool revolutionized the payment methods and invented PPS+, which was the first of its kind in the mining industry. Apart from the block reward, under the model of PPS+, miners will also receive the daily mining fee according to their contribution. This invention was widely approved by miners and mining institutions. By doing so, the pool became one of the world’s top 5 by BTC hashrate in less than 5 months since it was launched.

As a comprehensive crypto mining pool serving the world, ViaBTC has always adhered to the principles of security, transparency, fairness, and freedom. Through 6 years of dedicated efforts, the pool has introduced mining services for dozens of cryptos, including BTC, ETH, and LTC, and the invention of PPS+ has greatly improved the brand awareness of ViaBTC in the miner community. It is now the preferred choice among miners.

6 years of concrete actions: ViaBTC insists on innovation
How to provide better mining experiences to attract more miners has always been a challenge facing mining pools. Always offering new products and services, ViaBTC has committed to innovation and illustrated what the proverb “good wine needs no bush” means through concrete actions.

For instance, ViaBTC Pool offers multiple channels, free and paid, to meet the demand of different groups of miners by upgrading Transaction Acceleration; launches ViaBTC’s Hashrate Fluctuation Notification to free miners from keeping checking the hashrate since they will be notified when the figure drops to the set threshold; introduces Hedging Service and Crypto Loans to help miners mitigate the difficulty in turnover of capitals, more flexibly dealing with their funds, especially under extreme market conditions.

Always starting from miners’ rights and interests, ViaBTC has insisted on innovating products and offering a full set of products and supporting services, so as to provide miners with more efficient and convenient mining experiences.

6 years of pioneering efforts: ViaBTC is backed by a strong team
A company’s success depends on its team. ViaBTC has always upheld the principle of “the team is a company’s most important product”, and seen its team as its core competitiveness and the most iconic product. Through 6 six years of talent hunting, ViaBTC has built a strong and globalized team with group members having rich working experience in world-renowned Internet and financial enterprises. It is noteworthy that some of the pioneers in the crypto industry have joined the ViaBTC.

As a technical expert himself, Haipo Yang has attached great importance to code security due to his keen insights into security and auditing. Since its inception, ViaBTC Pool has never experienced any major security accidents. Backed by a strong team, ViaBTC Pool provides miners with a secure and stable mining environment to make them feel at ease every time they mine.

Although the mining industry is highly cyclical, ViaBTC will not stop forging ahead in spite of wild market swings. Even though the road ahead might be beset with thorns, ViaBTC will never give up. This is the best of times; this is the worst of times. ViaBTC will join hands with miners to embrace a new crypto age and create new glory in the next 6 years.

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Six Years of Relentless Efforts: ViaBTC is Always on the Way
« Reply #1 on: May 26, 2022, 09:10:38 AM »
:)

CoinEx

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1. ViaBTC is a pioneer in the crypto industry, having been around since 2016 — what was the idea behind launching ViaBTC?

A: I had my first introduction to Bitcoin and open-source software around 2011. At the time, fascinated by the technical principles of Bitcoin, I supported the view that we should facilitate industrywide progress by lowering the threshold of tech development via open-source coding. This led me to blockchain technology and the blockchain industry. Later on, I started to have some insights into the blockchain space. Back in 2013, I started running Bitcoin nodes and joined the building of the Bitcoin community. In March 2016, I completed all the code of ViaBTC Pool on my own in two months.

At the time, the inception of ViaBTC was motivated by factors relating to technology and product. Back then, the blockchain industry was in its infancy, and many technologies and products, including mining pools, were immature. Though the technical requirements for a mining pool are frequently underestimated, BTC mining pools are tech-intensive projects. Mining pools demand high stability and strong performance, which makes it a challenge to build a pool that’s sufficiently stable and efficient. In addition, mining constitutes a major part of the maintenance of the BTC network, and I wanted to drive Bitcoin toward a better future by building a mining pool.

These were the initial motivations behind ViaBTC Pool — I wanted to build a great product that would become the infrastructure of the blockchain world. Later on, more and more users chose to trust us, and our team expanded. Right now, ViaBTC is not just a mining pool. It is an ecosystem that covers CoinEx, ViaWallet, CSC, and ViaBTC Capital. The final goal of all these products is to facilitate blockchain progress by providing reliable services for crypto users across all categories.

2. Your mission statement reads “Via Blockchain, Making The World A Better Place,” — can you tell us about what this means?

A: The advent of blockchain and crypto technology has established a new order. Unlike traditional sectors, in the crypto market, smart contracts are strictly enforced by code, which is what we call “code is law”. This approach has created a more credible, transparent, free, and open market.

We believe blockchain technologies that advocate open-source development and freedom could foster more innovations. For example, popular crypto categories like DAO, DeFi, and GameFi are all blockchain-enabled innovations that can break the monopoly held by the giants and the existing market landscape by granting access to more ordinary users. ViaBTC’s job is to build the infrastructure of the blockchain world. As the gateway to the blockchain world for global users, ViaBTC helps more people enjoy the dividends brought by innovative blockchain technologies, thus making the world a better place.

3. How Does ViaBTC fit within the broader ecosystem of products such as CoinEx, ViaWallet, and ViaBTC Capital?

A: At the moment, ViaBTC Group runs 5 key business segments, including an exchange, a mining pool, a wallet, a public chain, and an investment branch, and provides services for more than 4 million users across the globe. The 5 segments cover the issuance, value discovery, circulation, and application of cryptos and their underlying technology, as well as ecosystem-enabled project incubation.

Without doubt, these business arms are integrated and interconnected with each other. For example, miners using ViaBTC Pool can benefit from free, real-time withdrawals through CoinEx. This, coupled with mining revenue settled on an hourly basis, allows users to trade and transfer cryptos anytime at no cost.

ViaWallet also offers multiple block explorers, covering BTC, LTC, DOGE, etc. In addition, when transferring BTC in ViaWallet, users can tap into Transaction Acceleration, a function provided by ViaBTC Pool.

In a nutshell, with our ecosystem, users can mine, trade, and transfer cryptos and use DApps. This meets most crypto demands from a product level. CoinEx Smart Chain (CSC), an infrastructure as a supplement to the ViaBTC ecosystem, offers developers and users a secure, efficient, low-fee underlying public chain. Backed by ViaBTC Group’s blockchain resources and tech advantages, ViaBTC Capital facilitates the progress of technologies, applications, and the entire blockchain ecosystem by providing funds, basic tech instructions, market promotions, etc.

4. How does ViaBTC manage to offer low transaction fees and high mining profits?

A: To earn high mining profits, miners must first ensure stable block yield. As Bitcoin is itself a distributed network, it takes time to transmit and broadcast blocks in the network. If two mining pools discovered a block at the same height almost simultaneously, an “orphan block” will be generated that pits the pools against each other — the pool that mined the orphan block would have been working in vain and could not receive the block reward.

To address such concerns, ViaBTC Pool optimized the broadcasting and transmitting process of the BTC network through its independently developed BTC client. Thanks to its high-speed block updating networks distributed around the world, miners can discover and broadcast new blocks more quickly. These efforts have lowered the orphan rate and improved the utilization rate of the BTC network. To date, ViaBTC remains the mining pool with the lowest orphan rate, which allows it to offer more steady mining revenue.

In addition, ViaBTC also boasts superior stability. During the 6 years since its inception, ViaBTC Pool has witnessed zero technical accidents and provided global users with a safe, stable mining environment that runs 24/7. Moreover, we provide the most versatile selection of payment methods in the entire mining industry, meeting the needs of different miners. For example, the PPS+ payment method that we invented not only ensures stable block rewards but also distributes miner fees to users, allowing miners to enjoy a bigger profit margin.

5. What else does ViaBTC offer that competitors cannot?

A: ViaBTC’s advantages mainly lie in technical stability and its superior product & services.

As mining pools evolved over recent years, we have seen many changes in the landscape of top pools. Many new pools attempted to seize the market with subsidies but finally failed because when it comes to mining, stability outweighs everything else. If no block can be mined, all efforts would go in vain. Therefore, ensured stability, superior performance, fast block synchronization, and low orphan rate are the keys to earning the trust of miners.

Of course, products and services also matter. ViaBTC Pool has provided many industry-first services, including PPS+ and Transaction Accelerator. Moreover, we have always insisted on openness and transparency by offering mining statistics that are obtainable through various visual representations. The pool introduced Auto Conversion to ensure the mining revenue during market swings; it rolled out Hedging Service and Crypto Loans to help miners lock in profits in advance and ensure the smooth circulation of funds. Always focusing on miners’ interests, ViaBTC strives to offer more practical, effective products and services.

6. What is the biggest milestone ViaBTC has reached so far? And what is the next major milestone ViaBTC is striving for?

A: In May 2021, our BTC hashrate share ranked №1 among all pools. I stress this record not because I want to brag about our ranking, but because I wish to thank all miners for trusting in ViaBTC and believing in our products. As you all know, miners are not always tied together with one pool and can withdraw their hashrates at any moment as they want. However, the hashrates of ViaBTC Pool have been growing steadily and exceeded 20EH/s last month, which indicates the extensive recognition for our products and services among miners.

When developing a product, instead of getting obsessed with ranking and hashrates, we strive to improve our product and offer better services so that miners would be happy to stay and refer ViaBTC to their friends. Such word-of-month reputations are authentic. Therefore, for us, the most important milestone is every moment when our products & services are recognized by users.

7. How will ViaBTC remain competitive in the future?

A: In terms of the mining pool, we will keep refining our products, building a global presence, and providing first-rate, stable crypto mining services for users around the world. Our efforts will extend to optimizing product experiences, including a series of improvements and upgrades in visual interactions and product functionality. Apart from that, we will also keep enhancing our bottom-layer tech structure, adopt solid security measures, and provide an efficient, stable mining network for miners.

We will continue to explore other business segments of ViaBTC Group from multiple dimensions, enhance the connections between the different products in the ViaBTC ecosystem, grant users easy access to the crypto industry, and provide more blockchain infrastructure services for crypto adopters.

8. How have changes in the Bitcoin mining industry over the last several years changed the ViaBTC business model?

A: Over recent years, the mining industry has received growing attention, and the BTC hashrate has also grown higher at an ever-faster pace. At its core, ViaBTC Pool seeks to provide miners with stable mining services, and there hasn’t been much change in its business model. Instead, the pool focused on product updates. Right now, we aim to offer more innovative financial services like Hedging Service and Crypto Loans to meet a wide range of demands among miners.

9. What do you think about the recent downtrend in cryptocurrencies?

A: The current crypto slump is subject to multiple internal/external factors, including excessive inflation rates around the world and the decline of global financial markets due to the stringent monetary policy adopted by the Fed. Meanwhile, the meltdown of Terra and the related ecosystem has also resulted in extreme market panic.

Under such circumstances, we should focus on development over the long run. For years, ViaBTC has always focused on long-term prospects, getting itself through 6 years of ups and downs in the crypto industry and earning extensive user recognition. Meanwhile, looking back, we have noticed that the crypto market has always spiraled upwards. Today’s market has progressed in terms of technical maturity, market scale, and user base. As such, we remain prudent but also optimistic and will continue to build better products for users.

10. What do you think the future of Bitcoin mining holds?

A: As the №1 cryptocurrency standing at the center of the crypto spotlight, Bitcoin and all Bitcoin-related businesses will receive more market attention and be favored by institutional investors. In North America, some BTC-mining-focused funds have been created. Meanwhile, many listed companies are also buying Bitcoin or even venturing into BTC mining and building large mining facilities. As a result, more institutions have forayed into BTC mining.

In an industry increasingly dominated by institutions, all BTC miners, mining farms, and mining pools have to enhance their tech capacity and build better products. Through intense competition, BTC mining will grow more specialized, and companies with inferior technologies and sub-par services will be outdated over time.


CoinEx

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Dear ViaBTC users,
It’s the time of year again where we share a few thoughts with you. In 2022, we welcomed plenty of new friends and spent many unforgettable moments with our old friends. It gives us great pleasure to say that ViaBTC celebrates its 6th birthday today.



The single spark has started a prairie fire
Back in June 2016, ViaBTC’s founder Haipo Yang developed ViaBTC Pool and completed all the coding by himself, which was unprecendented in the field of mining pools, and opened a door to the blockchain space for ViaBTC. The single spark has started a prairie fire. Within just a few months after its inception, ViaBTC Pool has built a strong track record.

That said, the real journey of ViaBTC has just begun. There is still a long way to go before we realize our vision — Via Blockchain, Making the World a Better Place. Through continued efforts by the ViaBTC team, CoinEx was introduced in 2017, ViaWallet was launched in 2019, and CoinEx Smart Chain captured the spotlight in its debut in 2021. Today, ViaBTC has evolved from a small team into a world-renowned blockchain group. Focusing on all blockchain categories, ViaBTC aims to make the blockchain world a better place.

Together, we’ve gone through thick and thin
On the arduous journey in the ever-changing blockchain industry, all companies, including ViaBTC, have had to go through plenty of challenges and obstacles. Some project have attempted to profit from market trends while others have achieved fast growth by focusing on all sorts of possibilities. For many times during the past 6 years, we have also hesitated at the crossroad of team development, facing temptations and different choices.

Perhaps, we may not be the greatest team that always makes the most sensible decision. Yet, the best decision we have ever made, which will never change, is to always put you — our users — first. At ViaBTC, the user experience is our fundamental growth driver. As we are convinced, great teams are fostered by users. With your support, ViaBTC will eventually grow into an invincible team.

During the ups and downs, ViaBTC has achieved countless milestones and also suffered from confusion and doubts. As an old saying goes, the good seaman is known in bad weather. Such is the case with ViaBTC which has shone in the dark and tempered itself in doubts. We hope to leave something meaningful for the blockchain industry. On the occasion of ViaBTC’s 6th anniversary, we’d like to thank all of you for believing and supporting ViaBTC over the past 6 years. No team is fearless by birth, but with your continued support, we have never felt daunted by the way ahead.

Over the past year, countless crypto bubbles have burst, and many hit projects have ended up in failure. Some remain sound and stable, while some others have vanished. The road ahead of ViaBTC will be beset with thorns yet also full of roses. We believe that fearlessness allows one to forge ahead into the unknown realm. Born with faith, ViaBTC stands fearless. On ViaBTC’s 6th anniversary, we’d like to send you a message of such fearlessness to help you forge ahead into the next 6 years together with ViaBTC.

CoinEx

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CoinEx | You Ask We Answer Special Edition: ViaBTC 6th Anniversary
« Reply #4 on: June 29, 2022, 01:54:24 PM »
On June 6th, CoinEx organized a Twitter AMA with founder and CEO, Haipo Yang to celebrate ViaBTC’s 6th Anniversary. Users were encouraged to ask anything Haipo from company strategy to industry insights to personal interests. Hundreds of entries were collected, and here we’ve selected some of them to answer. Each selected asker is rewarded $50 worth of $CET.



About ViaBTC’s Products, Development and Future Plans
1. @astaeren: There are many places where we can do mining. Why should we choose ViaBTC?

Haipo: ViaBTC’s primary advantages lie in technical stability and products & services.

As mining pools evolved over recent years, we have seen many changes in the landscape of top pools. Many new pools attempted to seize the market with subsidies but finally failed because when it comes to mining, stability outweighs everything else. If no block can be mined, all efforts go in vain. Therefore, ensured stability, superior performance, fast block synchronization, and low orphan rate are the keys to earning the trust of miners.

With strong technical guarantees, ViaBTC provides a mining network that runs stably 24/7 and has achieved the lowest orphan rate in the industry. Apart from that, the pool also features Hashrate Fluctuation Notification. When miners’ hashrate fluctuates, ViaBTC will give early warnings, which ensures stable mining revenue from multiple aspects.

Products and services are vital as well. ViaBTC Pool has provided many industry-first services, including PPS+ and Transaction Accelerator. Moreover, we have always insisted on openness and transparency by offering mining statistics that are obtainable through various visual representations. We introduced Auto Conversion to ensure the mining revenue during market swings; it rolled out Hedging Service and Crypto Loans to help miners lock in profits in advance and ensure the smooth circulation of funds. Always focusing on miners’ interests, ViaBTC strives to offer more practical, effective products and services.

2. @AMINZD2000: I’m going to get into mining. Do I need a lot of capital and a strong system to get started?

Haipo: The mining of PoW coins relies on the workload as proof, which comes with demanding requirements. For instance, users do need sufficient funding to bankroll early-stage costs such as mining rigs, electricity fees, and daily O&M expenses. Of course, if you have a small budget, you can always choose cryptos with short payback periods.

To begin with, users planning to venture into crypto mining should choose the right mining farm, and the specific mining site will determine the electricity price and O&M expenses. Moreover, they should also account for the local policy of the region where the mining farm is located to make sure that policy-related uncertainties will not lead to extreme circumstances during the subsequent mining process.

Secondly, miners should pick suitable mining rigs. The hashrate and power of a mining rig determine the mining revenue and payback period. You can also check the specific revenue data of different mining rigs under [Tools] on our official website.

Once miners identify the right mining farm and mining rig, they can then get connected with ViaBTC Pool. We will assign different network tasks and keep the mining network stable, which means that miners do not have to worry about the system and network.

3. @samiltasdemirr: What is your strongest advantage that you think will make your team leading the market?

Haipo: We have always placed great emphasis on our team. ViaBTC has always believed that “the team is a company’s most important product”. We regard our team as our core competitiveness and aim to achieve greater business success by building a strong team.

We have built a team of top-notch talents from different industries, many of whom have rich experiences in traditional Internet and finance. The ViaBTC team includes many of the earliest crypto practitioners, pioneers, and investors.

Such advantages allow us to rely on our experiences in traditional Internet and finance in terms of strategic planning and product design. Moreover, by combining such experiences with our unique insights into blockchain and cryptocurrency, we have managed to achieve steady growth. As I’m from a technical background, ViaBTC emphasizes the importance of code security, and has never suffered any major security breach since its inception. Backed by a strong team, ViaBTC Pool provides miners with a secure, steady mining environment.

4. @Dav3sj: Do you have local language Telegram groups for non-English speaking investors? What languages do you support?

Haipo: At the moment, we have created Telegram groups in English, Russian, Spanish, Chinese, and Persian. Our official website is now available in five languages: English, Russian, Spanish, Simplified Chinese, and Traditional Chinese. In the future, ViaBTC will also support more languages according to user feedback and market developments.

5. @YoNom15: Do you have any plans to integrate the platforms of CoinEx and ViaBTC? Because it satisfies both mining and trading users, and I think that an increase in new users can be expected.

Haipo: Although CoinEx and ViaBTC are independent of each other in terms of products, many of their functions are interconnected. For example, miners using ViaBTC Pool benefit from free, real-time withdrawals through CoinEx. This, coupled with mining revenue settled on an hourly basis, enables instant withdrawals at no cost. In the future, we will also consider expanding the functional combination between ViaBTC and CoinEx to make it easier for miners to trade cryptos on CoinEx.

6. @Guseka881: What are ViaBTC’s target next year? What do you do to attract more investors into your ecosystem?

@sohelrkhan: What are your top priorities towards the end of 2022 and 2023? Can you share some plans for the coming year? And What do you think of that makes ViaBTC more attractive than other projects?

Haipo: In terms of the mining pool, we will keep refining our products, building a global presence, and providing first-rate, stable crypto mining services for users around the world.

Our efforts will extend to optimizing product experiences, including a series of improvements and upgrades in visual interactions and product functionality. Apart from that, we will also keep enhancing our bottom-layer tech structure, adopt solid security measures, and provide an efficient, stable mining network for miners.

We will continue to explore other business segments of ViaBTC Group from multiple dimensions, enhance the connections between the different products in the ViaBTC ecosystem, grant users easy access to the crypto industry, and provide more blockchain infrastructure services for crypto adopters.

Insights and Opinions on Today’s Market
7. @Cybertech76Paul: As we have seen in the last month’s BTC drop, which dragged all the other tokens along, is there an impact for ViaBTC?

Haipo: During the past six months, affected by macroeconomic policies, geopolitical tensions, and the global pandemic, financial markets around the world have continued to plunge. Meanwhile, the crypto market, which is worth a trillion dollars, is bound to be affected by macroeconomic factors, which is the major culprit in the recent crypto slump. But ViaBTC don’t expect any impact.

Looking back on the financial growth in the past ten odd years, we can tell that the growth of financial markets and the crypto market are subject to growth cycles. Facing the current high inflation, many believe that a new round of quantitative easing will come from 2023 to 2024. Previous statistics indicate that the hit projects that flourished during the last bull market were all launched against bearish conditions. As such, in today’s bear market, both companies and investors should make preparations and stay patient and optimistic, enabling the high-speed growth of blockchain technologies and applications. As the market sentiment becomes more positive, and as the global economy recovers, everything will get better, and our efforts will surely be rewarded.

So under such circumstances, we should focus on development over the long run. For years, ViaBTC has always focused on long-term prospects, getting itself through 6 years of ups and downs in the crypto industry and earning extensive user recognition. Meanwhile, looking back, we have noticed that the crypto market has always spiraled upwards. Today’s market has progressed in terms of technical maturity, market scale, and user base. As such, we remain prudent but also optimistic and will continue to build better products for users.

8. @connecting4191: Have the continued discussion of mining by governments and rising energy costs changed your goals and mission? How do you think ViaBTC should follow?

Haipo: In a world suffering from global warming and energy crisis, sustainable development has become a global consensus. We have seen many discussions about mining and the associated high energy consumption. However, it is not advisable to ban mining just to save energy. Therefore, we now focus more on mining with clean energy.

Always committed to the mission of “Via Blockchain, Making the World a Better Place”, ViaBTC is one of the staunch advocates of mining with clean energy and has been looking for solutions for energy sustainability that apply to the mining industry. For instance, we have partnered up with SAI.TECH, a Singapore-based operator of clean computing power that horizontally integrates computing power, electricity, and thermal energy.

The company invented the “recyclable triangle”: the heat generated by BTC mining rigs will be turned into clean, renewable thermal energy through waste heat recovery, and will further be used to power the Bitcoin mining rigs. This model can effectively reduce carbon emissions and realize the secondary utilization of energy.

According to the block explorer, the global BTC hashrate of ViaBTC Pool stands at about 20,360 PH/s. Meanwhile, the unit power consumption of Antminer S19 XP is 21.5W/terahash. Therefore, a hashrate of 20,360 PH/s means that 437,740kW will be consumed every second. However, if SAI.TECH’s liquid cooling + waste heat recovery technology is adopted, then 393,966kW of the energy could be reused every second.

As a world-renowned mining pool, ViaBTC has been keeping track of the latest development in clean computing power, and we hope to partner up with more institutions like SAI.TECH to strike a balance between clean energy and crypto mining and explore the future trend of the two fields.

9. @arman972611: What do you think about the mining industry for the future?

Haipo: As a key link in the production of cryptocurrency, the mining industry will receive more market attention. Driven by Bitcoin, the №1 crypto, PoW mining will remain a critical part of the crypto ecosystem. At the moment, many big institutions are also paying attention to the mining business. In North America, some BTC-mining-focused funds have already been created.

Meanwhile, many listed companies are also buying Bitcoin or even venturing into BTC mining and building large mining facilities. As a result, more institutions have forayed into BTC mining. At the same time, many mining companies have gone public in the past two years, which is proof of great market popularity and recognition among investors.

In an industry filled with more institutions, all BTC miners, mining farms, and mining pools have to enhance their tech capacity and build better products. Through intense competition, BTC mining will grow increasingly specialized, and companies with inferior technologies and sub-par services will be outdated over time.

10. @Selva30009369: How do you think our world will look in 5 years? Do you think it will be an economic fallout or do you feel that bitcoin will ease the eruption?

Haipo: Inflation rates in countries around the world remain at a high level. Meanwhile, the world still suffers from the lingering impact of COVID-19, as well as certain geopolitical conflicts. In light of these circumstances, many feel pessimistic about the future of the global economy. Yet, we believe that it is only a matter of time before these problems disappear. Although it might take five years or longer, once such issues go away, the world economy will start to recover.

At the same time, we have seen that blockchain and crypto technologies have always moved forward. After the economy rebounds, the advancement in such technologies will lead to huge changes and a new economic boom. We are confident that all aspects of our lives will be reshaped by the digital economy.

About CoinEx and $CET
11. @Phoenix_dev1234: What is your vision on $CET What are your plans in increasing the value of $CET? What are your plans/ideas you can use to tackle crypto coin hackers?

Haipo: CET is envisioned as a cryptocurrency with real value and multiple use cases and functions. At the moment, CET can be used to pay for trading fees on CoinEx at a discount and enjoy VIP services and event privileges. Moreover, the token also acts as the “gas” of the CoinEx Smart Chain ecosystem.

Based on that, we will also improve the application value of CET from three aspects. Firstly, we will expand the scope of CET on CoinEx. For instance, CET holders will have more opportunities to invest in quality projects. Secondly, the CSC ecosystem will be enriched, with more premium projects and DApps available on CSC. Thirdly, we will strive for the adoption of CET in more external scenarios (e.g. payments).

As for security issues such as crypto hacking, we have accounted for such problems when designing our products. As security is the №1 concern among crypto users, we have repeatedly audited our codes and regularly conducted stress tests to keep the system safe. Additionally, the most secure wallet system is adopted to ensure wallet safety. Lastly, we will never misuse users’ assets for any purpose whatsoever. CoinEx promises to keep users’ assets safe and secure, and all withdrawals will be processed in time.

12. @Aras_1400: Does CoinEx have plans to support and open up the market for NFTs? What mechanisms does the platform adopt to introduce new currencies?

JovaniJio05: As one of the rising blockhain platform, does CoinEx have plans to consider NFTmarket?

Haipo: We need to conduct comprehensive assessments to determine whether CoinEx will introduce the NFT market, and related plans will be announced, if any.

We have always attached great importance to token listing. After all, there are plenty of cryptos in the market. CoinMarketCap alone shows nearly 20,000 crypto assets. However, not all assets are good trading choices, and many of them are subject to great risks. Therefore, we have insisted on independently reviewing the token listing process while aiming to list a premium, well-rounded selection of assets as quickly as possible.

To begin with, quality is the №1 priority. We look for premium assets on a global scale by assessing projects from multiple dimensions, covering team background, tech innovation, community activity, and category-specific prospects. Secondly, backed by a coordinated, efficient token-listing team with perceptive market insights, CoinEx ensures fast token listing and helps users stay ahead of peers. Finally, while pursuing quality, we also focus on well-roundedness. CoinEx strives to offer an all-inclusive selection of premium cryptos that meet all trading demands.

Our insistence on independent token listing is aimed at providing CoinEx traders with reliable assets. We know that when it comes to the number of cryptos available, existing trading platforms suffer from either a lack of diversity or garbage assets. Therefore, our research team spends plenty of time screening the cryptos available in the market, helping users avoid risky assets. To a certain extent, CoinEx saves users the trouble of risk filtering. Eventually, when a user opens CoinEx, he will be able to easily get the kind of first-rate cryptos he wants.

About CoinEx Smart Chain
13. @emersontntky: CoinEx Smart Chain is ideal for use due to its high efficiency and low fee. What other novelty does CSC offer that invites developers and users to join?

Haipo: CoinEx Smart Chain’s greatest advantages are its high efficiency and low fees. Moreover, the public chain is also fully compatible with EVM, which allows developers on Ethereum and other EVM-based public chains to easily migrate their DApps onto CSC.

In addition, the CSC Foundation has introduced the Multi-Million Dollar Supportive Plan to provide financial support for developers. Meanwhile, backed by the resources of ViaBTC Group, we will also support first-rate CSC projects in terms of liquidity, user traffic, and other aspects. For instance, CSC will help promising projects acquire investment from ViaBTC Capital, list cryptos on CoinEx, and conduct yield farming, offering all-encompassing ecosystem assistance to developers.

CSC uses CPoS, an innovative consensus mechanism, to protect users and keep the chain decentralized. At the moment, CSC users can also benefit from a full range of blockchain infrastructures, covering wallets, cross-chain bridges, blockchain explorers, etc. Of course, users care most about the user experience, so fast transactions and low fees are also vital.

14. @Adityaroypspk: Since there are many DeFi hacks and attacks are happening, people leave millions in losses. What security measures will CoinEx implement with the DeFi apps that work on CSC that give investors confidence?

Haipo: The CPoS algorithm used by CoinEx Smart Chain effectively ensures the security of the public chain ecosystem. The community will also adopt strict security measures concerning the codes and nodes to keep the chain stable and safe. At the same time, we will encourage DeFi projects built on CSC to work with third-party auditing companies to ensure their coding security and keep users’ assets safe.

15. @AsombraArt: As ViaBTC and CoinEx Smart Chain are always developing and evoling, how does CSC create a space where it is easier for artists to create and trade their artworks? How does CSC exploits NFTs potential?

Haipo: We encourage and support more artists to create NFTs on CSC. At the moment, there are already several third-party marketplaces where users can mint and trade NFTs on CSC. The public chain also features some NFT games and minting platforms. We have kept exploring the NFT category and will encourage developers to build more NFT-relevant apps by offering more ecosystem support and funding.

About ViaBTC Capital
16. @kabir_XZ89: How ViaBTC Capital sees DeFi, NFT and Gamefi markets in the coming years? How does its partnership with CoinEx will help the sectors grow?

Haipo: We are confident in the long-term prospect of DeFi, NFT, GameFi, and the related crypto categories and have invested in many such projects. So far, ViaBTC Capital has invested in multiple promising projects that can stand the test of the market, covering projects that focus on infrastructure building, creative Web 3 applications, GameFi, innovative DeFi, etc.

Due to the previous market boom, these crypto categories abound with projects that significantly differ in terms of quality, which have blurred the judgment of many investors. Many premium projects will stand out from today’s bear market where all projects will have to rely on performance and products. Meanwhile, the growth in user demand and product performance will make the project increasingly valuable.

Today, projects can no longer profit from stories and endorsements like they used to. Therefore, we believe more outstanding projects will flourish in the next few years, and ViaBTC Capital will also adopt long-term investment strategies and stick through the current crypto bear together with promising projects.

Interesting Facts About Haipo Yang
17. @theewhites: How did you first find out about Bitcoin? What did you think of it at the time, and how has your view changed since then?

I had my first introduction to Bitcoin and open-source software around 2011. At the time, fascinated by the technical principles of Bitcoin, I supported the view that we should facilitate industrywide progress by lowering the threshold of tech development via open-source coding. This led me to blockchain technology and the blockchain industry. Later on, I started to have some insights into the blockchain space. Back in 2013, I started running Bitcoin nodes and joined the building of the Bitcoin community. In March 2016, I completed all the code of ViaBTC Pool on my own in two months.

At the time, the inception of ViaBTC was motivated by factors relating to technology and product. Back then, the blockchain industry was in its infancy, and many technologies and products, including mining pools, were immature. Though the technical requirements for a mining pool are frequently underestimated, BTC mining pools are tech-intensive projects. Mining pools demand high stability and strong performance, which makes it a challenge to build a pool that’s sufficiently stable and efficient. In addition, mining constitutes a major part of the maintenance of the BTC network, and I wanted to drive Bitcoin toward a better future by building a mining pool.

These were the initial motivations behind ViaBTC Pool — I wanted to build a great product that would become the infrastructure of the blockchain world. Later on, more and more users chose to trust us, and our team expanded. Right now, ViaBTC is not just a mining pool. It is an ecosystem that covers CoinEx, ViaWallet, CSC, and ViaBTC Capital. The final goal of all these products is to facilitate blockchain progress by providing reliable services for crypto users across all categories.

18. @BeenEkonomistim: What was the most difficult issue for you during the construction and development phase of ViaBTC?

It was frustrating when our products were not recognized by the market. For example, CoinEx’s user base was very small at the very beginning. However, as we overcame such difficulties, they became memorable milestones. As the exchange grows and evolves, we keep refining our products, building a global presence, and offering reliable, satisfying services, thereby earning more user recognition and attracting more users. To date, ViaBTC Group’s products are recognized by over 4 million users across more than 200 countries, which is an achievement in which our team and I take great pride.

Thank you all for your questions, and congrats to the winners. We’ll see you soon. Happy 6th Birthday to ViaBTC!

Follow ViaBTC on Twitter: www.twitter.com/ViaBTC
Follow Haipo Yang on Twitter: www.twitter.com/yhaiyang


 

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