Big news in the Crypto World: Antpool and f2Pool, two of the top Bitcoin (BTC) mining pools, are jumping on board with an exciting new project called Fractal Bitcoin. This fresh approach to mining promises to shake things up and could boost the earnings for miners.
What’s Fractal Bitcoin All About?
Fractal Bitcoin is a new project aiming to take Bitcoin’s capabilities to the next level. It introduces a new type of token, like BRC-20, Runes, and Ordinals, and offers a cool feature called Cadence Mining. This means that miners can now earn both Bitcoin and Fractal Bitcoin rewards by using their mining power for both at the same time.
The main network for Fractal Bitcoin was launched on September 9. On day one, 50% of the total supply of 210 million tokens were released, with the rest to be mined over time.
How Does It Work?
Fractal Bitcoin is built on a second-layer network (layer-2), acting as a sidechain to Bitcoin. This setup allows it to process transactions about 20 times faster than Bitcoin’s main chain – every 30 seconds. Plus, there’ll soon be a blockchain bridge and exchange services to support Fractal Bitcoin.
The project is developed by the team behind UniSat, a well-known crypto wallet for BRC-20 and Ordinals tokens. They’ve received strategic investment from Binance and are linked with Bitcoin Satoshi Vision and Bitcoin Cash.
A Brief History of Mining and What’s Next
The idea of joint mining isn’t brand new. For instance, Dogecoin (DOGE) has been using Litecoin’s mining power since 2014, thanks to Charlie Lee’s concept of combined mining. This approach has helped both cryptocurrencies benefit from each other’s mining efforts.
Mining is the process of verifying and adding transactions to a blockchain. Miners are rewarded with new coins for their work. Mining pools help by combining the power of multiple miners to make the process more efficient.
What’s the Future for Bitcoin?
Bitcoin has traditionally been seen as “digital gold” for long-term investment. But 2024 is bringing new innovations that could expand Bitcoin’s use. Fractal Bitcoin is a prime example of this trend, showing how Bitcoin’s ecosystem is evolving.
This year, other exciting projects are also attracting attention. For instance, Babylon is pioneering Bitcoin staking, and there are new initiatives like Anduro and Alys that are exploring ways to tokenize assets and interact with other networks. Investors and miners alike are watching these developments closely, as they could lead to new opportunities and breakthroughs in the Crypto World.
Conclusion
Fractal Bitcoin is offering a fresh approach to mining that could open up new avenues for earning and innovation in the crypto space. With its blend of speed, efficiency, and dual-token rewards, it’s definitely a project to keep an eye on. As the Bitcoin ecosystem continues to evolve with new technologies and ideas, Fractal Bitcoin is a promising example of how traditional concepts can be reinvented for the future.
If you want to learn more interesting facts about crypto then check out our blog! You might like our articles “Exploring Best Ways to Earn Free Crypto” and “Smart cities of the future: how can crypto help?”.
