Hey ninja’s, how’s the trading going? On the day, the majority of the top cryptocurrencies are reporting moderate daily gains with the largest cryptocurrency Bitcoin reporting over 25 gains in the last 24 hours and is trading at $9,557 at press time. Top altcoin Ethereum and XRP are also reporting significant daily gains. At press time Ethereum is trading at $242 and is reporting 5.935 gains while XRP is trading at $0.18 and is reporting 1.295 gains.
Shortly after Binance launched its cryptocurrency mining pool, the leading cryptocurrency trading platform launched a new feature to increase the profit of miners. Earlier this month “Smart Pool” was launched, this new feature enables miners to switch hash rates automatically to mine the currency which would produce the most profit. Smart Pool is able to switch between the three supported coins Bitcoin (Bitcoin), Bitcoin Cash (BCH), and Bitcoin SV (BSV) based on the SHA-256 algorithm.
The head of Binance Pool, Lisa He, explained that the new feature was designed to detect the difficulty in different chains using the same algorithm and enables users to transfer their computing power to the chains with less difficulty and more profit from rewards. The final settlement is paid by Binance in Bitcoin regardless of what cryptocurrency was mined.