What is Viaabtc and how does it relate to mining?
1 When was Viaabtc and who are its founders?
Viaabtc was founded in May 2016 by Haipo Yang, an engineer with software development experience. Before creating Viaabtc, Yang worked in technological companies recognized as Tencent and Futu Securities, where he strengthened his technical skills. His academic training includes a degree in mathematics applied by the Northwest Polytechnic University in China, a base that allowed him to develop the initial code of what would become one of the Pools of more influential mining of the Bitcoin network.
The history of Viabtc begins in a rapid growth context in the cryptocurrency ecosystem, when mining solutions began to evolve from individual operations to large -scale collaborative models. In its first months, Viaabtc attracted the attention of the mining community by offering an efficient system with attractive configuration options for professional miners. The first Bitcoin Mined by Viaabtc block was recorded on June 5, 2016, marking its official entrance to the sector with a solid proposal that quickly won the confidence of the users.
Since then, the company has crossed an expansion process that led it beyond mining. In 2017, Haipo Yang founded Coinex, a cryptocurrency exchange linked to Viabtc infrastructure, which further strengthened its presence in the ecosystem. However, it is worth noting that this Exchange is restricted in some regions; For example, it is no longer available in Continental China. Nor can it be accessed from the United States and Canada (specifically in the province of Alberta).
Haipo Yang has also been an active figure in the technical debates about Bitcoin’s scalability. During the controversy around Segwit2x in 2017, Viaabtc publicly supported bifurcation, showing its position in favor of an increase in block size.
Segwit2x controversy
The controversy of Segwit2X in 2017 emerged as a proposal to climb Bitcoin through a hard bifurcation that would double the size of the blocks to 2 MB, seeking to improve the transaction processing capacity. However, this initiative generated divisions in the community, since many developers and users considered that it lacked consensus and presented technical risks, such as the absence of solid protection against repetition attacks. Viaabtc actively supported Segwit2X, aligning with other actors who advocated larger blocks to facilitate faster payments and lower rates. However, given the lack of generalized support, the bifurcation was canceled in November of that year.
This decision positioned the company as a relevant actor not only from the technical point of view, but also ideological, taking sides in one of the most divisive moments in Bitcoin’s recent history. For some, this Viabtc position is detached from the current Bitcoin values and directs the company towards the ideology of Corrientes such as Bitcoin Cash.
2 What main services offers Viabtc?
Viaabtc offers a series of services designed to cover different aspects of the cryptocurrency ecosystem, with a main approach in mining, but also with incursions into the storage, exchange and management of digital assets.
Its central product is the mining pool, which allows individual users and entities to collaborate in cryptocurrency mining such as Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Dash (Dash) and others, receiving rewards proportionally to the computing power contributed. This pool is characterized by offering several payment methods – as PPS+, PPLNS and Solo – that allow users to choose the rewards distribution scheme that best suits their strategy.
In addition to traditional mining, ViabTC also provides a cloud mining service, which allows users to acquire computing power contracts without operating physical equipment. This modality is especially attractive to those who want to participate in mining without dealing with the costs and complexity of the hardware.
How does mining in the cloud work?
Cloud mining is a method that allows participating in block validation without acquiring or maintaining physical equipment. Instead of installing specialized hardware, the user hires a portion of computing power – or hashrate – through a supplier that operates data centers with mining equipment. Viaabtc offers this service through mining contracts that can be acquired directly from its platform, which facilitates access to mining for people with little technical experience or without optimal conditions of electrical infrastructure. This modality reduces the entry barrier, although it also implies trusting third parties for the maintenance and operation of the equipment.
Another distinctive service is the Transaction Acceleratora tool that allows users to prioritize their transactions at times of congestion of the Bitcoin network. Through this service, an additional rate can be paid to accelerate the inclusion of a transaction in a block, which is useful for those who require rapid confirmations in high demand contexts.
In the scope of cryptocurrency storage, Viaabtc offers its own digital wallet, compatible with multiple coins and designed to integrate efficiently with pool services. This portfolio also facilitates the management of mining rewards and the transfer of funds to other platforms.
Likewise, the company is linked to Exchange Coinex, founded by the same team behind Viaabtc, allowing fluid integration between mining and cryptocurrency trade. Although they operate as separate platforms, the connection between the two strengthens the ecosystem created by the company, allowing users to undermine, store and exchange cryptocurrencies within a relatively unified environment.
3 What are the payment methods and the rates of the Viaabtc mining pool?
Viaabtc offers three payment methods in your pool of mining, each with specific rates:
- PPS+ (Pay Per Share Plus): This method guarantees fixed payments for each Share Valid sent to poolregardless of whether a block is located or not. In addition, it includes a portion of the transaction commissions obtained by the pool. The rate associated with PPS+ is 4%.
- PPLNS (Pay per last n shares): In this scheme, the profits depend on the amount of Shares contributed in the last rounds of difficulty, and only payments are received when the pool Find a block. The PPLNS rate is 2%.
- ONLY: With this mode, the miner works independently and receives the complete reward of the block plus the commissions by transaction if it manages to undermine a block by itself. The rate for mode is only 1%.
It is important to note that these rates can vary according to the cryptocurrency that is being undermined. For example, in June 2024, Viaabtc announced the cancellation of the PPS+ Payment method for Ethereum Classic (etc), leaving only the PPLNS method for this currency available.
4 Is Viaabtc’s exchange safe?
Viaabtc is widely recognized by its cryptocurrency mining pool, but it is important to clarify that the company does not operate its own exchange under the name «Viabtc». The team founded Exchange Coinex in 2017, which functions as a separate entity. Coinex has implemented various security measures, such as two factors (2FA) and cold storage systems to protect user assets. Over the years, Coinex has maintained a generally positive reputation in the cryptocurrency community, without significant publicly reported security incidents.
What is the authentication of two factors (2FA)?
The authentication of two factors (2FA) is a security mechanism that adds an extra layer of protection to the login process in digital accounts. It consists of requiring not only a password, but also a second element that only the user has, as a code generated by a mobile application (for example, Google Authenticator) or sent by SMS. On platforms such as Coinex – the Exchange created by the ViaabTC team – the 2FA helps to avoid unauthorized access even if the password has been compromised, thus strengthening the safety of the user’s personal funds and data.
It is essential that users interested in using any exchange platform carry out their own research and consider the security measures implemented, the experiences of other users and the regulation in force in their jurisdiction. In addition, it is advisable to enable all available security functions, such as 2FA, to add an additional layer of protection to your accounts.
5 Is it profitable to mine with Viabtc?
The profitability of mining with Viabtc depends on multiple factors, including the computing power of your hardware (Hashrate), the costs of electricity, the cryptocurrency that you choose mining and the current conditions of the market. Viaabtc offers tools that can help you estimate your possible profits and make informed decisions:
- Profitability calculator: VIABTC provides a profitability calculator that allows miners to estimate their potential income. When entering data such as the type of currency, the Hashrate of your equipment, energy consumption and rates of the poolyou can get a projection of your daily profits.
- Mining profit ranking: In addition, ViaabTC offers a mining gains ranking that shows the most profitable cryptocurrencies to undermine depending on current market conditions. This tool can be useful to identify which coins offer better profitability opportunities at a given time.
It is important to keep in mind that the profitability of mining is subject to changes due to factors such as the difficulty of the network, fluctuations in the price of cryptocurrencies and operating costs. Therefore, it is recommended to use these tools regularly and stay updated on market conditions to make informed decisions.
To obtain a precise evaluation of the profitability when mining with Viabtc, it is advisable to use the mentioned tools and consider all the relevant factors that may influence your profits.
