Binance Pool integrates Jax.Network merge-mining API
by Maryna Trifonova, Head of Content at Jax.Network
Binance Pool has successfully finished the integration of our merge-mining API, which allows mining Jax.Network along with Bitcoin with 0% hashrate loss on Bitcoin mining. The pool has become the first major organization of the mining industry to support our project. We are proud to have Binance Pool as our partner and hope for impressive results in the future!
Why is our API important?
Traditionally, merge-mining requires miners to add the hash of a new block produced by another chain to the Bitcoin blockchain. Then the process of finding proof of work starts with the difficulty set by the Bitcoin blockchain. The bottom line is the work done on one chain, the parent chain, can be regarded as valid work on another chain. For example, if a Bitcoin miner finds a Bitcoin block with a proof of work that matches the difficulty of Jax.Network and coinbase TX of this block contains some data required by the protocol, that Bitcoin coinbase TX and block header automatically become a valid proof of work of the Jax.Network blockchain.
As Jax.Network consists of a beacon chain and shard chains, the merge-mining process gets a bit complicated and needs extra assistance at the pool integration stage. To address this issue and spare the pool from the necessity to support a new technical infrastructure of nodes, we created an auto-profit-switching BTC merge-mining API, which can be easily integrated with already deployed SHA256d mining facilities. In other words, we provide a ready-made solution for mining pools which requires minimum input from their side. To learn more about the integration flow of our API, please follow this link.
Let the merge-mining begin
Binance Pool became the first mining pool to integrate Jax.Network into their ecosystem. It’s one of the largest mining pools in the world with SHA-256 hashrate power of 22.9 EH/s at the moment of writing. It’s interesting to point out that Binance Pool is currently mining only a few coins, including BTC, BCH, ETH, and LTC. Now this list will increase by another coin — our Layer-1 JXN.
The integration process of Jax.Network blockchain into the pool operation went smoothly thanks to our unique merge-mining API that ensures 0% hashrate loss on Bitcoin mining. It has been a pleasure to work with the professional Binance Pool team and we are grateful for their sincere support of our venture. We also expect other mining organizations to follow Binance Pool lead and switch to merge-mining Bitcoin with our network in the near future, as we offer a really high-reward scheme with risks under control.
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