Binance has introduced merged mining on its pool mining platform. Starting today, November 18, 2024, interested parties can join the Binance Pool platform to earn Fractal Bitcoin (FB) rewards while mining Bitcoin (BTC).
Fractal Bitcoin is a Layer 2 sidechain scaling solution built on Bitcoin’s core code, designed to “scale unlimited layers on top the world’s most secure and widely held blockchain”, according to its official website. Its mainnet was launched in September; its genesis block carries the same message originally written by Bitcoin creator Satoshi Nakamoto and embedded in Bitcoin’s first block: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
The crypto exchange announced that participants need to register through verified Binance accounts and link an external FB wallet address. FB rewards operate on a Pay-Per-Last-N-Shares (PPLNS) payout model, with a minimum payout threshold of 0.1 FB.
However, the exchange clarified that the addition of the FB mining feature does not imply that Binance will list the token on its platform anytime soon, as it is still not available for trading on the exchange.
The exchange has published step-by-step guides to help users set up their mining operations, manage wallet addresses, and monitor performance. Binance emphasized that users must provide verified accounts and valid wallet addresses to receive rewards. It warned that attempts to manipulate or disrupt the program could result in disqualification.
In a related development, Binance recently announced the pre-market launch of USUAL, a new stablecoin, via Binance Launchpool. Early access to the USUAL/USDT trading pair will begin at 10:00 UTC on November 19, 2024, with the official spot listing to follow. This marks another move by Binance to expand its offerings while urging users to assess risks carefully when engaging with volatile digital assets.
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