In addition to cosmos, there are more than 90 PoS public chains that can be dug, but the value of many of them is not widely recognized. If the player invests money to pledge or do a node business for a 40% return rate, what should I do if the price drops by 80% in one year? Not worth the candle.
In the traditional mining industry, PoW mining has an absolute right to speak. From the history of mining and the maturity of the industry, PoS is still a baby in the face of PoW. However, with the popular public chain such as Cosmos and Polkadot adopting the PoS mechanism, the Casper's online process in the Ethereum PoS era is getting closer, and the imagination of PoS has been greatly increased.
Over the past month, a number of mining pools, wallets, exchanges, and node vendors have announced that they have joined the Cosmos mining army. There are many Coinbase, imToken, and Polychain funds in the world. Billion fund players.
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Seeing that PoS mining has become a climate, the PoW large mining pool, which has been traditionally digging for mining, has expressed no feeling. PoTC's largest mining pool, BTC.com, said that if there is a suitable opportunity, it does not exclude the addition of PoS. The coin of the third largest mining pool is bluntly saying “Now not considered”.
At the same time, there are also Starfire Mine Pool, Fish Pond Subproject Bitfish, DPoS Large Mine Pool Firecoin Mine Pool announced to enter the PoS. How do all parties calculate, what is the concern of the traditional mining pool, who will belong to the future PoS large mining pool? This article will take you down one by one.
Fish pond, Spark strategic turn
The traditional mining pools in the PoS mining army represent the Bitfish and Spark pools of the PoS project. The two mines are the second and third largest in the Ethereum, and they are ranked third and fourteenth in the fourth largest PoS public chain project, Cosmos.
Coincidentally, the two teams first marched in the march because of the opportunity of Ethereum.
Bitfish, built by the fish pond co-founder Wang Chun. Wang Chun entered the mine in 2011 and built a fish pond (F2Pool) with the mermaid in 2013. He is very low-key on weekdays, so that the industry's node vendors have a mysterious tone when they mention Bitfish. In the description of Mr. Wetez, Bitfish is working in Thailand, hiring employees from all over the world, and the configuration is quite international.
The Odaily Planet Daily contacted Wang Chunshi, others were in Guangzhou, busy working as a new mining pool with a different fish pond. “Just like Huobi Korean after Huobi Global”, Wang Chun described it.
The reason why Wang Chun said that he was involved in PoS mining was quite accidental.
At the end of 2017, the fish pond got the domain name Bitfish, so I slowly explored what to do. In March and April of 2018, the Ethereum mixed PoW/PoS consensus mechanism agreement “Casper FFG” was launched. The Ethereum community vigorously promoted Ethereum or opened PoS mining. Therefore, Wang Chun team is ready to build an infrastructure for the world's second largest public chain – PoS mine pool.
Unexpectedly, three months later, Ethereum announced the abandonment of the Casper FFG program and replaced it with the independent chain Casper, which pursues complete PoS. However, the realization of this program is still far away.
As a result, the Bitfish mine that had just started was lost. Fortunately, in addition to the eternal Ethereum Casper, the EOS and Tezos of the PoS public chain have been on the line. As a result, Bitfish began campaigning for the EOS supernode.
"Bitfish's support rate on EOS is now 23, and at its best, it can rank in the top 21 and become a profitable block node." Wang Chun told Odaily Planet Daily.
Currently, 4 of the Bitfish 50-person team are running full-time PoS nodes, and most of the energy is placed on the new pool. It can also be said that Bitfish's mentality of cutting into PoS mining is a strategic investment, not a core business.
Surprisingly, the connection between the Spark Pool and the PoS mining is as tactics as the Bitfish. According to Qiu Xiaodong, a member of the Spark Group, the Spark Pool began preparations for PoS mining in early 2017, and was later delayed by the Ethereum PoS. The server and manpower that had nowhere to be placed were turned to the new PoS chain.
In June last year, the Spark Pool began running the Cosmos test network. On April 18th, Xinghuo Mine Pool announced the removal of ETC and MRC (Menrocoin), “put more energy into PoS mining,” Qiu Xiaodong said.
PoW main mining pool holds a wait-and-see attitude
In addition to the two mines that have been diverted to PoS mining, the current attitude of the main PoW mines tends to wait and see, and is not even interested in joining the PoS mining army.
PoW's largest mining pool, BTC.com, told the Odaily Planet Daily that "(PoS mining) will in principle see opportunities and not exclude."
The attitude of Poolin, which has recently risen to the second, is more clear. "We should not (join PoS)." Coin founder Zhu Xi said.
Rawpool, the 11th-ranked mine, also said it would "do not do it in the short term."
“The reason is very simple. As a mining pool, it is following the market demand. Now most miners are watching the PoS. Some LPs and VCs I know are not optimistic about PoS. Now the mining industry is increasingly oriented towards the enterprise level. Development, if this part of the enterprise-level people is not optimistic, I feel that there is no need to put too much energy on this, at least not necessary at this stage." Rawpool mine CMO Huang Meng said.
The CEO of BTC.com Mine Pool solemnly laments that the resources owned by the traditional mining pool do not match the resources required by the PoS.
“We have large-scale users at the B end, but PoS needs capital and users. In this respect, exchanges and investors have a great advantage in PoS mining, but there is no advantage for mines like us. So now we will Choose some projects that you can participate in."
The consideration of the two practitioners, to a certain extent, represents the reason why traditional mining ponds do not easily tap PoS mining.
And the node vendors whose half feet have stepped into PoS mining have also summarized a reason.
As a result, the market value of the PoS public chain is not large enough and is not as “sexy” to potential participants.
“The PoS mining plate is not that big, the hard top is there,” said Cao Fei, CEO of the Fire Coin Mine.
From the data of Staking Rewards, the total value of the PoS-type tokens in the pledge state is $6 billion, which is equivalent to the total market value of the fourth-ranked BCH on CoinMarketCap. And what is the power of BCH in the PoW world?
According to the statistics of Mining Pool Stats, the computing power of the top ten PoW currency is 54.27 EH/s, and the computing power of BCH ranks third, accounting for 4.9% of the total of the top ten currency. Compared to the big world of PoW computing power, the influence of PoS is still very small.
Intercepted from Mining Pool Stats, 2011.4.25 16:00
Moreover, among these $6 billion PoS tokens, the large EOS (43%) is dominated by 21 super nodes, and the chances of the latter are 寥寥 (21 ranking changes are not too large).
Cao Fei believes that the second reason that traditional mining pools are not involved in PoS mining is that PoS mining is in the early stages of development, and large players are not necessarily suitable for entry.
An unnamed industry insider also holds this view. "For example, Cosmos, which is just on the line, has a circulation of only 230 million, and the pledge rate has been nearly 50%. If the big money is concerned, the most is to absorb the remaining coins and pledge them. If they are pledge, the annual bonus will be increased. More, too much porridge will not make too much money."
“Beyond cosmos, there are more than 90 PoS public chains that can be dug, but the value of many of them is not widely recognized. If players invest money to pledge or do node business for 40% return, one year down The price of the currency has dropped by 80%. What to do? It is worth noting. This is like digging bitcoin to invest in developed countries with reliable returns. Digging a lot of PoS public chains is to invest in developing countries, and the return rate is high and the risks are high.” Zhang Mr. frankly.
Where will the future big PoS mines be?
Although many PoW mines have thrown away PoS's early bird tickets, there are also many players who want to eat crabs in the fish ponds and sparks.
In Wang Chun's view, the advantage of PoW mining pool cutting into PoS mining is to ensure the security of the custody funds, which is an important factor that the client cares about. The mainstream player wallet of PoS mining, the exchange is also telling the story of safety + traffic. The third type of player is the capital side of funds and institutional users.
In order to facilitate readers to view the representatives of various parties, Odaily Planet Daily will organize the main PoS equity pools in China as follows.
Who will become the big mining pool of PoS, the industry is generally optimistic about exchanges and wallets, especially the more just needed exchanges. Wei Hao, co-founder of Singapore node vendor Stake with us, even bluntly said, "PoS pool will belong to the exchange."
The reason given by Weihao is that it is generally convenient to choose the holders of the currency. It is very possible to buy coins and sell coins without the exchange, so it is very possible to directly pledge to the brand's good exchanges.
Based on this assumption, Weihao even planned a plan to cooperate with the exchange. “For an exchange that supports decentralization, it can access multiple node vendors. The user chooses who wants to see his own choices. The exchanges and the nodes with business have a good reputation. For the exchanges that want to do their own work, they have the power. Do it yourself, such as the fire coin pool, without the manpower and energy to run the maintenance node (exchange), can be outsourced to the professional node operation team." Weihao said.
Mr. Zhang also said, “In the past, trading in mines and contracting exchanges brought a lot of traffic to the exchange. Will the future support for POS mining also bring the exchanges?”
The exchange naturally discovered this potential blue ocean. At the end of February, Coinbase participated in the $4.5 million seed round financing of third-party node operator Staked.us. One month later, Coinbase announced the provision of Staking services to institutional clients. On April 26th, the Fire Coin Mine also announced the opening of Cosmos and IRISnet PoS mining functions.
Cao Fei once told the Odaily Planet Daily that “although PoS has its ceiling, compared to the PoW consensus mining, the threshold for joining the PoS mining and forming the industrial chain is lower, the development speed will be faster, and there will be more in the future. Many projects are adopted. The rise of PoS may be in the near future."
It is worth noting that the fire coin pool was the second largest super node on the EOS before the official announcement of the PoS mining.
“We are the first mine pool to do DPoS, mainly in combination with its own characteristics, close to the holders of the currency. The user will pledge the currency to us (also known as the lock warehouse), we help the user to vote for or provide the lock warehouse that mines (ie, to the user Huobi Pool Token, HPT). Cao Fei said.
In addition to Coinbase and Firecoin, the OK mine pool, which is still in the rookie stage, is also interested in entering. The OK mine pool was launched in November last year and now supports 8 PoW currencies. Its product manager Jia Chaoyang revealed to the Odaily Planet Daily that after the OK exchange was launched on Atom (Cosmos), there was a PoS mining plan.
“As more blockchains use PoS as the underlying consensus, users will gradually realize that the currency they hold should have equity gains. At this point, exchanges that offer PoS mining and users can receive rewards It will be better than an exchange without this service. There is an example in the Tezos (a PoS public chain) ecosystem. The exchange Hitbtc holds the user's currency but never gives the user a reward, so the highest transaction volume from XTZ (Tezos) The exchange has been falling all the way." Mr. Zhang believes.
"The exchange is like this. Wallets and funds are also used. When you take the customer's currency, you need to pay for the time value of the funds. The business of the PoS node business is formed."
Author: Huang Xue Jiao
Source: Planet Daily
(Reporter Aloe also contributed to this article)