Binance Pool has revealed its newest update: merged mining for Fractal Bitcoin (FB), a layer 2 Bitcoin scaling solution. Today, customers can mine Bitcoin (BTC) and be rewarded in Fractal Bitcoin. However, Binance then explained that there is no perspective on purchasing FB in Binance at the moment.
Fractal Bitcoin is a layer 2 side-chain scaling solution based on Bitcoin core code capable of creating ’layers without boundaries’ upon the blockchain. As stated on the website of the Fractal exchange, such an approach provides high scalability with preserved Bitcoin security and decentralization.
Fractal Mainnet Aligns with Bitcoin’s Origins, Aims to Enhance Scalability and Functionality
The Fractal Mainnet, launched in September, mirrors Bitcoin’s original ethos, embedding the same message from Bitcoin’s genesis block: >The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks.
Without going too deep into what OP_CAT or PLONK is, it is designed to work as a Layer 2 solution integrated with Bitcoin’s leading blockchain solution. This solution now features aspects such as the desired OP_CAT opcode, which developers are pinning high hopes on being reintroduced into Bitcoin Layer 1 for even more functionality, such as support for ZK rollups.
How to Participate?
Binance Pool users interested in Fractal Bitcoin mining must follow these steps:
- Account Setup: First, try registering on Binance Pool and connecting an external wallet that can process at least 0.1 FB.
- Mining Equipment: Provision of a BTC mining machine, a stable source of electric power, a stable internet connection, and the correct wallet ID.
- Configuration: Go to the Binance exchange, identify the mining machine, and connect it to the Binance Pool.
After setting up, they can control mining performance and earnings on the Binance Pool site.
Fractal Bitcoin rewards follow the Pay-Per-Last-N-Shares (PPLNS) model and have a payout-provoking floor of 0.1 FB. If the earnings are below this, they remain in the user balance to make up the required amount when they can.
Binance also has a VIP tier system for miners who work well and achieve high Hashrate. The system determines membership level, which ranges from count level, where each user who averages at least 20 Ph/s of computing capacity qualifies as VIP Level 1 to Level 9 for users who compute at least 4,000 Ph/s.
This exchange has provided guidelines to help eliminate bias towards the participants. Trading manipulations, interfering with Binance’s program code, or using third-party applications to control current affairs entail account termination.
With merged mining for Fractal Bitcoin, Binance is using the opportunity to popularize layer 2 advancements as the leading cryptocurrency platform. Despite Fractal Bitcoin’s absence as a direct listing at Binance, its partnership with Binance Pool remains the initial point of contact for miners seeking flexible solutions built from the ground up according to Bitcoin’s principles.
This is the preparation for the technological advancement that requires proper scaling within the blockchain and where Binance will become a major player in influencing the development of Bitcoin-anchored layered technologies.
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