18th November, 2019, Singapore – Digital assets trading platform BiKi.com is pleased to announce the BiKi Mining Pool has officially launched, adding staking and wealth management operations to its platform. A hot trend amongst exchanges, 2019 has seen Proof of Stake (PoS) mining pools rolled out on exchanges such as Coinbase, Binance, amongst others.
The BiKi Mining Pool mainly includes a number of pan-asset management operations such as PoS Staking and wealth management for mainstream, platform and popular currencies, thereby responding to a diverse range of consumer financial needs. For the first phase, the mainstream currencies such as BTC, ETH, EOS, USDT and the BIKI platform currency have been included. Popular project VDS has also been selected. When compared to other exchanges, BiKi’s annualized returns of 20% from its mining pool is actually unprecedented, with the next highest at only 12.7%. The launch of the BiKi Mining Pool will be another step in BiKi’s transition from a single growth model to a diversified growth model.
The essence of traditional PoS mining is to obtain financial incentives or income through asset pledging to PoS projects. However, traditional PoS mining has its pain points: Firstly, there are certain thresholds for participating in PoS mining; secondly, there is a lock-in period before users can be released from the pledge; lastly, the operation itself could be complicated as the mechanisms are unique to the various projects. Hence when users have multiple PoS certificates, managing them all could prove to be challenging.
BiKi is choosing to enter the market at this time for good reason. As competition amongst PoS mining pools is still shaping up, opportunities in this area are still up for grabs. However, even more importantly, is the fact that new tech solutions on the scene means that BiKi can now implement solutions to counter traditional PoS mining pain points.
Compared to traditional PoS mining, BiKi’s staking…