{"id":426337,"date":"2020-06-05T14:01:49","date_gmt":"2020-06-05T14:01:49","guid":{"rendered":"https:\/\/wncen.com\/?p=426337"},"modified":"2020-06-05T14:01:49","modified_gmt":"2020-06-05T14:01:49","slug":"binances-bitcoin-mining-pool-is-now-the-11th-largest-in-the-world","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/binances-bitcoin-mining-pool-is-now-the-11th-largest-in-the-world\/","title":{"rendered":"Binance\u2019s Bitcoin Mining Pool is Now The 11th Largest in The World"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Binance Pool has become the 11th largest Bitcoin mining pool in the world, according to data from BTC.com. The exchange\u2019s CEO Changpeng Zhao shared the news earlier today, using older data that showed Binance Pool ranked 8th with 4.23% of the total hashrate.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Binance Pool Sees Slow and Steady Growth in Hashrate<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Binance, one of the largest and fastest-growing cryptocurrency exchanges in the world, has seen its Bitcoin mining pool grow slowly and steadily. Launched at the end of April, the Binance Pool was initially met with skepticism, as many members of the crypto community criticized the company for aiding the further centralization of Bitcoin mining.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the pool launched with solid performance, ranking 11th in the world in its first week of existence. It made up for 2.91% of the total hashrate and mined a total of 116 blocks.\u00a0<\/span><\/p>\n<figure style=\"width: 690px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/rYUCGV7jpoS6wLHlbKNxj1mHTrmesMqg_86RGZKXR1SqoXkjLFqPuNyHSaEn5oJoZlQ89uraZpCxeCoko25LkDxtl1rumNUXbeyOVQfyLewY4xduPxm1WwefCYZ4TU1duYwTPIZn\" alt=\"Chart showing the mining pool hashrate distribution in the past 30 days\" width=\"690\" height=\"411\"><figcaption class=\"wp-caption-text\">Chart showing the mining pool hashrate distribution in the past 30 days. <i><span style=\"font-weight: 400\">(Source: <\/span><\/i><a href=\"https:\/\/btc.com\/stats\/pool?pool_mode=month\" rel=\"nofollow\"><i><span style=\"font-weight: 400\">BTC.com<\/span><\/i><\/a><i><span style=\"font-weight: 400\">)<\/span><\/i><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">As of Jun. 5, the hashrate from the Binance Pool represents 3.68% of the total hashrate on the Bitcoin network. The exchange\u2019s mining pool, which aimed to attract miners from Huobi and OKEx\u2019s pools, has recorded a hashrate of 3.96 EH\/s in the past 24 hours.\u00a0<\/span><\/p>\n<figure style=\"width: 1149px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/U0qsRSGiMaSsffIa4SKRZfrfZJP51zHCUhHnNamKXroUZQRYryYvP0hzAknJSQnT963RLWky4Y7UHXSBs8M0qg7ILSRH2616rYzpcAMD2xx4oS9QIjmQ9_7vxIKa74SBoR0V2XfE\" alt=\"Table showing Bitcoin mining pools ranked by hashrate\" width=\"1149\" height=\"558\"><figcaption class=\"wp-caption-text\">Table showing Bitcoin mining pools ranked by hashrate. <i><span style=\"font-weight: 400\">(Source: <\/span><\/i><a href=\"https:\/\/btc.com\/stats\/pool?pool_mode=month\" rel=\"nofollow\"><i><span style=\"font-weight: 400\">BTC.com<\/span><\/i><\/a><i><span style=\"font-weight: 400\">)<\/span><\/i><\/figcaption><\/figure>\n<h2><span style=\"font-weight: 400\">CEO Claimed Binance\u2019s Pool Ranks 8th in The World<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The news about the growth Binance\u2019s mining pool has shown was first shared by the exchange\u2019s founder and CEO, Changpeng Zhao. Zhao, however, seems to have used an older set of data, as his announcement showed that Binance Pool was the 8th largest mining pool by hashrate in the world.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cA month later, Binance mining pool is ranked 8th in the world now,\u201d Zhao <\/span><a href=\"https:\/\/twitter.com\/cz_binance\/status\/54317824\" rel=\"nofollow\"><span style=\"font-weight: 400\">tweeted<\/span><\/a><span style=\"font-weight: 400\"> earlier today celebrating the company\u2019s success.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The screengrab he shared from btc.com showed that Binance Pool was responsible for a 4.23% share of Bitcoin\u2019s total network hashrate and has mined 19 blocks. There is no information about the time reference for the data in the image.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With most of the crypto community still worried about companies such as Binance acquiring too much power over the supposedly \u201cdecentralized\u201d crypto market, we are yet to see how the company\u2019s performance will stand in the long-run.\u00a0<\/span><\/p>\n<figure style=\"width: 680px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/KBbdx9P_l7f9jAcfaod6YvthXKMdkgMLz8JeIWEhze5S0nIfVFtrNRtJqZ4yTLgbt3f3AoN6LD_TM7qR3Tyk8AkhHl2DWkAOZbMNIAWPEyVtARJ0rJ2R_0mz_dDNUbpJj4SbVX5E\" alt=\"Screengrab of mining pool ranking shared by Changpeng Zhao\" width=\"680\" height=\"594\"><figcaption class=\"wp-caption-text\">Screengrab of mining pool ranking shared by Changpeng Zhao. <i><span style=\"font-weight: 400\">(Source: <\/span><\/i><a href=\"https:\/\/twitter.com\/cz_binance\/status\/54317824\" rel=\"nofollow\"><i><span style=\"font-weight: 400\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400\">).\u00a0\u00a0<\/span><\/i><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Binance Pool has become the 11th largest Bitcoin mining pool in the world, according to data from BTC.com. The exchange\u2019s CEO Changpeng Zhao shared the news earlier today, using older data that showed Binance Pool ranked 8th with 4.23% of the total hashrate.\u00a0<\/p>\n","protected":false},"author":531,"featured_media":426339,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[10768,428,11427,1119,1144,78790,2990,76835],"class_list":["post-426337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-binance","tag-bitcoin","tag-bnb","tag-btc","tag-btcusd","tag-btcusdt","tag-mining","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Binance\u2019s Bitcoin Mining Pool is Now The 11th Largest in The World<\/title>\n<meta name=\"description\" content=\"Binance Pool has become the 11th largest Bitcoin mining pool in the world, according to data from BTC.com. 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