Syscoin Hashrate and Mining Pools

By drlove | Sysnetsite | 30 Aug 2020


One of the fundamental metrics for evaluating a POW (proof-of-work) blockchain project is looking at its hashrate. Network security is directly related to hashrate (computing power) and the higher it is, the more secure a network is when new blocks are being mined. The value of any blockchain project should obviously be related on its security - which is often ignored by those simply focused on following the latest marketing campaigns and market price.  A high hashrate also makes 51% attacks too costly and unattractive - a fact that Ethereum Classic painfully experienced THREE times within the last weeks! 

It may become as a surprise to many that little known Syscoin is close to the top when it comes to hashrate! Obviously, hashrates are not static, so the numbers in the following graphics is a snapshot taken at one particular point in time. As Syscoin is merge-mined with BTC. some of the largest BTC mining pools mine Syscoin! Well-known mining pools include F2pool, estimated to mine 17% of all Bitcoin blocks and ViaBTC  which holds a market share of 9% according to buybitcoinworldwide.com

 

f587c481554345357124de2216b201da87d6407765c6e1fa967a7d5ba6533583.png



Given this exceptionally high hashrate it is obvsiouly pretty hopeless to mine Syscoin on your own, but some mining pools - but not all, do share the Syscoin they merge-mine with Bitcoin. This includes VIaBTC and Mining-Dutch.nl. You won't be able to build a fat wallet anytime soon by joining those mining pools: for each BTC mined, you also get five Syscoin, or in the case of BCH (also the same SHA-256 algorithm) mining pool, you additionally get one Syscoin . This is certainly not a lot a current market prices, but you may be glad you paid attention to it in a few years ahead, and there is certainly nothing to lose in case you are looking into cloud mining contracts of BTC or BCH.

For a complete and up-to-date link collection of the Syscoin Platform, please make sure to bookmark https://syscoin.network/syslinks!
and to follow @sysnetsite on Twitter for the latest news and updates! 

 

863520a00ad5b82b9dc3acbd058608d990653cc991609ff30d6800a93aad577a.png

 

However, the first stop to learn about the project is to visit the project's website at https://syscoin.org and to join the main Discord chat! 

 

How do you rate this article?


1

0


Sysnetsite
Sysnetsite

Notes on the Syscoin Platform and selected other topics.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.