The cryptocurrency mining software provider Titan announced the creation of Titan Pool, a bitcoin mining pool based in North America. An announcement was published with Bitcoin Magazine he emphasized the enterprise-grade services that pool participants would receive, together with the importance of its geographical location.
“Asia and Europe account for almost all mining powers on the Bitcoin network, with the vast majority of mines located in China,” according to the statement. “The Titan Pit offers a powerful alternative in North America and a way for the continent’s Bitcoin miners to achieve the efficiency and scale enjoyed by miners in other regions.”
Although Bitcoin is a decentralized network, a majority of the hash rate generated on the network comes from mining mines located in China. Many in space see this as a kind of geographic centralization that conflicts with a borderless currency ethos, and efforts to contribute a significant hash rate from more regions around the world are continuing.
For its participants, Titan Pool seeks to offer competitive hash rates with pools in other parts of the world and thus a fighting opportunity to win bitcoin prizes; a series of statistics reporting, work share and fees; and simple participation agreements that may contrast with the complexities of participating in foreign mines.
“Titan is uniquely positioned to provide North America’s first and best class Bitcoin mining pool,” Titan co-founder and CEO Ryan Condron said in the release. “In addition, our work in providing software for managing large cryptocurrency mines means that we have a deep understanding of mining across its entire value chain.”
Opening partners for Titan Pool include Coinmint, which operates a large digital currency data center of former aluminum smelter facilities in Upstate New York, and Core Scientific, which operates mining facilities in North America and has recently mined a bitcoin block as part of an initiative. to bring bitcoin themselves to US Congressmen.
“Cryptocurrency mining has moved from a hobby to a major industry within a very short period of time,” said Kevin Turner, CEO of Core Scientific, in the statement. “Today, it is a matter of global economic competitiveness – one where North America is in danger of falling behind. We are proud to be among the first to use Titan Pool, working to secure North America’s role in securing the Bitcoin network. ”