Ethermine has come up with a new service for its members. In fact, in the world of crypto, novelty is the key to holding members and growing. For those who do not know, Ethermine is the largest mining pool for Ether. Since its inception, it has grown considerably and now it sits at the top of everything.
Recently, the largest Ether mining pool came up with a brand new service for its members. This new service is a new staking pool. It offers its members a chance to earn 4.43% interest annually on top of their ETH deposits. In addition, it also enables its users to collectively stake their ETH.
What is more interesting is that the members need only 0.1 ETH to enter. If you wish to learn more about the new service of Ethermine, then this article is the right stop for you. Keep reading this article for a detailed understanding of this new service.
The New Staking Pool
We all know that the much anticipated Ethereum is going to take place on the 15th of September. In such a scenario, when the largest Ether mining pool comes up with a new staking pool for its members, this becomes really significant. However, the miners of the US will be unable to use this service.
This new service is offered through Bitfly. It allows the users to stake their Ether collectively and earn interest on their deposits. In fact, Ethermine demands only a deposit of 0.1 ETH from the members, to gain access to this new staking pool. At the same time, one must remember the fees will be greater for smaller deposits. At present, the annual ETH interest rate for the stalkers stands at 4.43%.
In fact, stalking pools like this, are growing in popularity. This is because, these pools offer lower barriers of entry than solo staking and competitive interest rates. In fact, at present Ethermine functions as a multi-currency mining pool. It allows its members to mine BEAM, ERGO, Zcash, ETC, and RVN, alongside Ether.
Therefore, the launching of a new stalking pool is a great step forward for the company. As of the 31st of August, Ethermine had 222,657 active miners, with a hash rate of 261.1 TH/s.
Since the merger is nearing, the miners will be able to carry on mining till the merger hits the deck. After that PoS validators will replace the ETH miners. This in turn might cut down the network consumption of ETH by around 99%. Therefore, it seems that Ethermine too might have to change its way of functioning.