By Luke F - Cryptocurrency Broker - 26-08-2021
Ever since Elon Musk, the CEO of automobile company Tesla, has spoken about wanting Bitcoin (BTC) to be more environmentally friendly, many companies have started to look into going green. Even the crypto crackdown in China has contributed to a greener carbon footprint for crypto as many miners have relocated, some even converting to using renewable energy.
A crypto exchange platform is currently in the works to create a greener mining pool. KuCoin has plans to pay miners through its consensus of Proof-of-Work (PoW) once the miners rigs have connected. Miners will be able to invest in cryptocurrency by contributing to BTC and Bitcoin Cash (BCH) KuCoin rewards pool.
KuCoin aims to incorporate miners worldwide to join in on the pool offer. Reportedly, if miners wish to contribute to the pool, they need to set up the technology themselves. To further accelerate the companies’ mining advancements in the future, KuCoin is rumoured to be building cloud mining.
The CEO of the platform to exchange crypto, Johnny Lyu, has stated that the pool is built using sustainable methods to help pay miners in a more environmentally friendly way. Reportedly, the miners that only use renewable energy will benefit the most as they will pay discounted fees. The CEO further stated that even old users of KuCoin can easily install their mining tools so that they can begin earning. According to the CEO, once miners have set up their equipment, they can start immediately with no waiting period to use the pools.