ViaBTC Raises ¥20 Million in Series-A For New Exchange Business

We are glad to announce that we’ve closed our series-A funding of 20 million CNY from Bitmain and private investors. The financing is to support our business expansion of a global cryptocurrency exchange which we plan to launch later this year. We will firstly release a CNY/BTC exchange (www.viabtc.cn) in about two months for domestic market.

ViaBTC entered into Bitcoin industry in June 2016 with professional pool service and cloud mining products and has since built up a world-wide reputation in the Bitcoin community. Our pool hashrate reached a record high in September last year, rising at a time to TOP2 in the world. Now we have a user-base of nearly 10,000, among which 80% are from outside China.

Our Team

Based in Shenzhen China, we now have a team of 16 members. Most of us are from top-tier dotcom companies in China such as Tencent, Xunlei, MEIZU etc. and have years of experience in Bitcoin industry.

YANG Haipo, CEO of ViaBTC, was graduated from Northwestern Polytechnical University of China in 2012, majoring in mathematics. After graduation he started working at Tencent Weibo (China’s Twitter). YANG is one of the earliest adopters and investors of Bitcoin and has in-depth understanding of Bitcoin and blockchain technology. With years of developer experience in high concurrency and high availability services, YANG began running his own Bitcoin full nodes in 2013. Between 2014 and 2015, YANG started his career in cryptocurrency industry and led the R&D team at ZeusMiner, the former TOP3 Scrypt miner in the world. In April 2016, YANG devoted himself to the building of ViaBTC pool and released the prototype version after two months of extensive coding work. That’ when ViaBTC was officially launched and also when the team started to grow.

Milestones

  • Jun. 2016 — Official launch
  • Sep. 2016 — Hashrate rose to world TOP2
  • Oct. 2016 — Mined the 1000th blocks
  • Nov. 2016 — Cloud mining contract online
  • Jan. 2017 — Mined the 2000th blocks
  • Mar. 2017 — Raised ¥20 million series-A funding

Unique Features

  • 1st Chinese pool who pays out transaction fees

ViaBTC adopts a unique PPS+ payment method which pays out both block reward and transaction fees to miners. It was unprecedented and successfully drove our peers to follow suit and allocate more mining income.

  • 1st public pool in the world who runs Bitcoin Unlimited

ViaBTC held a strong position when block scaling problem became imperative. We stood out and became the first to run Bitcoin Unlimited when so many were doubting or hesitating. ViaBTC also facilitated other pools to run BU and made real practical moves for Bitcoin scaling.

  • 1st pool who provides free transaction accelerator service

When the Bitcoin network was jammed by transaction backlogs, ViaBTC released a free accelerator (www.viabtc.com/tools/txaccelerator/) to help out and has accelerated the confirmation of tens of thousands transactions for the community with zero charge.

  • The most tech-intensive mining pool

With our proprietary Bitcoin client, ViaBTC has deployed a global high-speed network to broadcast blocks faster, and therefore enhance pool efficiency. We’ve excelled most our peers at key indicators including orphan rate, empty rate, rejection rate etc.

Our Vision

From the downstream “Mining” to the upstream “Exchange” and “Payment”, we aim to extend our business as far as covering the entire industry chain in the future.

With lasting passion and faith, we do want to “make the world a better place via Bitcoin”.

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