THELOGICALINDIAN - ViaBTC has been one of the antecedents in the crypto industry with an illustrious clue almanac Recently we bent up with the CEO Haipo Yang and asked him a few questions about the aggregation its mission and affairs for the approaching Read the extract of the account below
Q [NewsBTC]: ViaBTC is a avant-garde in the crypto industry, accepting been about back 2024 – what was the abstraction abaft ablution ViaBTC?
A [Haipo Yang]: I had my aboriginal addition to Bitcoin and open-source software about 2024. At the time, absorbed by the abstruse attempt of Bitcoin, I accurate the appearance that we should facilitate industrywide advance by blurred the beginning of tech development via open-source coding. This led me to blockchain technology and the blockchain industry. Later on, I started to accept some insights into the blockchain space. Back in 2024, I started active Bitcoin nodes and abutting the architecture of the Bitcoin community. In March 2024, I completed all the cipher of ViaBTC Pool on my own in two months.
At the time, the birth of ViaBTC was motivated by factors apropos to technology and product. Back then, the blockchain industry was in its infancy, and abounding technologies and products, including mining pools, were immature. Though the abstruse requirements for a mining basin are frequently underestimated, BTC mining pools are tech-intensive projects. Mining pools appeal aerial adherence and able performance, which makes it a claiming to body a basin that’s abundantly abiding and efficient. In addition, mining constitutes a above allotment of the aliment of the BTC network, and I capital to drive Bitcoin against a bigger approaching by architecture a mining pool.
These were the antecedent motivations abaft ViaBTC Basin — I capital to body a abundant artefact that would become the basement of the blockchain world. Later on, added and added users chose to assurance us, and our aggregation expanded. Right now, ViaBTC is not aloof a mining pool. It is an ecosystem that covers CoinEx, ViaWallet, CSC, and ViaBTC Capital. The final ambition of all these articles is to facilitate blockchain advance by accouterment reliable casework for crypto users beyond all categories.
Q: Your mission account reads “Via Blockchain, Making The World A Better Place,” – can you acquaint us what this means?
A: The appearance of blockchain and crypto technology has accustomed a new order. Unlike acceptable sectors, in the crypto market, acute affairs are carefully activated by code, which is what we alarm “code is law”. This access has created a added credible, transparent, free, and accessible market.
We accept blockchain technologies that apostle open-source development and abandon could advance added innovations. For example, accepted crypto categories like DAO, DeFi, and GameFi are all blockchain-enabled innovations that can breach the cartel captivated by the giants and the absolute bazaar mural by acceding admission to added accustomed users. ViaBTC’s job is to body the basement of the blockchain world. As the aperture to the blockchain apple for all-around users, ViaBTC helps added bodies adore the assets brought by avant-garde blockchain technologies, appropriately authoritative the apple a bigger place.
Q: How Does ViaBTC fit aural the broader ecosystem of articles 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 accessible chain, and an advance branch, and provides casework for added than 4 actor users beyond the globe. The 5 segments awning the issuance, amount discovery, circulation, and appliance of cryptos and their basal technology, as able-bodied as ecosystem-enabled activity incubation.
Without a doubt, these business accoutrements are chip and commutual with anniversary other. For example, miners application ViaBTC Pool can account from free, real-time withdrawals through CoinEx. This, accompanying with mining acquirement acclimatized on an alternate basis, allows users to barter and alteration cryptos anytime at no cost.
ViaWallet additionally offers assorted block explorers, accoutrement BTC, LTC, DOGE, etc. In addition, back appointment BTC in ViaWallet, users can tap into Transaction Acceleration, a action provided by ViaBTC Pool.
In a nutshell, with our ecosystem, users can mine, trade, and alteration cryptos and use DApps. This meets best crypto demands from a artefact level. CoinEx Smart Alternation (CSC), basement as a supplement to the ViaBTC ecosystem, offers developers and users a secure, efficient, low-fee basal accessible chain. Backed by ViaBTC Group’s blockchain assets and tech advantages, ViaBTC Capital facilitates the advance of technologies, applications, and the absolute blockchain ecosystem by accouterment funds, basal tech instructions, bazaar promotions, etc.
Q: How does ViaBTC administer to action low transaction fees and aerial mining profits?
A: To acquire aerial mining profits, miners charge aboriginal ensure abiding block yield. As Bitcoin is itself a advertisement network, it takes time to address and advertisement blocks in the network. If two mining pools apparent a block at the aforementioned acme about simultaneously, an “orphan block” will be generated that pits the pools adjoin anniversary added — the basin that mined the drop block would accept been alive in arrogant and could not accept the block reward.
To abode such concerns, ViaBTC Basin optimized the broadcasting and transmitting action of the BTC arrangement through its apart developed BTC client. Thanks to its accelerated block afterlight networks advertisement about the world, miners can ascertain and advertisement new blocks added quickly. These efforts accept bargain the drop amount and bigger the appliance amount of the BTC network. To date, ViaBTC charcoal the mining basin with the everyman drop rate, which allows it to action added abiding mining revenue.
In addition, ViaBTC additionally boasts above stability. During the 6 years back its inception, ViaBTC Pool has witnessed aught abstruse accidents and provided all-around users with a safe, abiding mining ambiance that runs 24/7. Moreover, we accommodate the best able alternative of acquittal methods in the absolute mining industry, affair the needs of altered miners. For example, the PPS acquittal adjustment that we invented not alone ensures abiding block rewards but additionally distributes miner fees to users, acceptance miners to adore a bigger accumulation margin.
Q: What abroad does ViaBTC action that competitors cannot?
A: ViaBTC’s advantages mainly lie in abstruse adherence and its above artefact & services.
As mining pools acquired over contempo years, we accept apparent abounding changes in the mural of top pools. Abounding new pools attempted to appropriate the bazaar with subsidies but assuredly bootless because back it comes to mining, adherence outweighs aggregate else. If no block can be mined, all efforts would go in vain. Therefore, ensured stability, above performance, fast block synchronization, and low drop amount are the keys to earning the assurance of miners.
Of course, articles and casework additionally matter. ViaBTC Basin has provided abounding industry-first services, including PPS and Transaction Accelerator. Moreover, we accept consistently insisted on artlessness and accuracy by alms mining statistics that are achievable through assorted beheld representations. The basin alien Auto Conversion to ensure the mining acquirement during bazaar swings; it formed out Hedging Service and Crypto Loans to advice miners lock in profits in beforehand and ensure the bland apportionment of funds. Consistently absorption on miners’ interests, ViaBTC strives to action added practical, able articles and services.
Q: What is the better anniversary ViaBTC has accomplished so far? And what is the abutting above anniversary ViaBTC is appetite for?
A: In May 2024, our BTC hashrate allotment ranked No.1 amid all pools. I accent this almanac not because I appetite to blow about our ranking, but because I ambition to acknowledge all miners for dupe in ViaBTC and assertive in our products. As you all know, miners are not consistently angry calm with one basin and can abjure their hashrates at any moment they want. However, the hashrates of ViaBTC Basin accept been growing steadily and exceeded 20EH/s aftermost month, which indicates the all-encompassing acceptance for our articles and casework amid miners.
When developing a product, instead of accepting bedeviled with baronial and hashrates, we strive to advance our artefact and action bigger casework so that miners would be blessed to break and accredit ViaBTC to their friends. Such word-of-month reputations are authentic. Therefore, for us, the best important anniversary is every moment back our articles & casework are accustomed by users.
Q: How will ViaBTC abide aggressive in the future?
A: In agreement of the mining pool, we will accumulate adorning our products, architecture a all-around presence, and accouterment first-rate, abiding crypto mining casework for users about the world. Our efforts will extend to optimizing artefact experiences, including a alternation of improvements and upgrades in beheld interactions and artefact functionality. Apart from that, we will additionally accumulate acceptable our bottom-layer tech structure, accept solid aegis measures, and accommodate an efficient, abiding mining arrangement for miners.
We will abide to analyze added business segments of ViaBTC Group from assorted dimensions, enhance the admission amid the altered articles in the ViaBTC ecosystem, admission users accessible admission to the crypto industry, and accommodate added blockchain basement casework for crypto adopters.
Q: How accept changes in the Bitcoin mining industry over the aftermost several years afflicted the ViaBTC business model?
A: Over contempo years, the mining industry has accustomed growing attention, and the BTC hashrate has additionally developed college at an ever-faster pace. At its core, ViaBTC Basin seeks to accommodate miners with abiding mining services, and there hasn’t been abundant change in its business model. Instead, the basin focused on artefact updates. Right now, we aim to action added avant-garde banking casework like Hedging Service and Crypto Loans to accommodated a advanced ambit of demands amid miners.
Q: What do you anticipate about the contempo declivity in cryptocurrencies?
A: The accepted crypto slump is accountable to assorted internal/external factors, including boundless aggrandizement ante about the apple and the abatement of all-around banking markets due to the acrimonious budgetary action adopted by the Fed. Meanwhile, the accident of Terra and the accompanying ecosystem has additionally resulted in acute bazaar panic.
Under such circumstances, we should focus on development over the continued run. For years, ViaBTC has consistently focused on abiding prospects, accepting itself through 6 years of ups and downs in the crypto industry and earning all-encompassing user recognition. Meanwhile, attractive back, we accept noticed that the crypto bazaar has consistently coiled upwards. Today’s bazaar has progressed in agreement of abstruse maturity, bazaar scale, and user base. As such, we abide advisable but additionally optimistic and will abide to body bigger articles for users.
Q: What do you anticipate the approaching of Bitcoin mining holds?
A: As the No.1 cryptocurrency continuing at the centermost of the crypto spotlight, Bitcoin and all Bitcoin-related businesses will accept added bazaar absorption and be advantaged by institutional investors. In North America, some BTC-mining-focused funds accept been created. Meanwhile, abounding listed companies are additionally affairs Bitcoin or alike venturing into BTC mining and architecture ample mining facilities. As a result, added institutions accept forayed into BTC mining.
In an industry added bedeviled by institutions, all BTC miners, mining farms, and mining pools accept to enhance their tech accommodation and body bigger products. Through acute competition, BTC mining will abound added specialized, and companies with inferior technologies and sub-par casework will be anachronous over time.
