Updated: November 2019
Poolin is a multi-currency mining pool service launched in 2017. Poolin operates under the legal entity Blockin. As of November 2019, Poolin holds the largest share of hash rate among Bitcoin mining pools. Poolin offers mining pool services in the following cryptocurrency networks – Bitcoin, Litecoin, Decred, Ethereum, Zcash, Bitcoin Cash, Dash, Monero, Ravencoin, Doge, NMC, and Vcash. Poolin uses a Full-Pay Per Share (FPPS) reward scheme where miners connected to the pool get paid proportionally based on the hash rate they contribute to the pool. Miners also receive a proportional share of transaction fees in this reward model.
Poolin was founded by Kevin Pan (CEO), Chris Zhu (COO), and Tianzhao Li. All were formerly at BTC.com. Kevin Pan also founded BTC.com and founded TangPool before this. Former BTC.com VP Alejandro De La Torre joined as Poolin VP in August 2019. Poolin is headquartered in Beijing and also has offices in Chengdu, Shenzhen, and Berlin.
Poolin’s
mobile app is extremely popular among Chinese consumers. The app has a
versatile functionality and has previously appeared on a Chinese state-owned
television channel. While Poolin is well-known among the Chinese mining market,
it has been focussing more of its efforts on the overseas market in the second
half of 2019. Poolin opened a Berlin office and launched a European tour
coordinating mining meetups in several locations in Europe.
Poolin has
regularly coordinated meetups in China, significantly helping its brand image
with the Chinese market. At the New Era Mining Summit in September, Kevin Pan
announced that Poolin is developing a new mining protocol called the Bitcoin
Universal Mining Protocol. While there has been no update since on the progress
of this protocol, Poolin has implemented several other technology solutions for
their mining pool customers. One such example is the ability to automatically
transition between mining Bitcoin and Bitcoin Cash based on which is the most
profitable at any given time.
Poolin is currently tied in a lawsuit with Bitmain (owners of BTC.com). The founders are accused of breaching a non-compete agreement by leaving BTC.com to start another mining pool. It is claimed by Poolin founders that the non-compete is valid due to the founders not receiving compensation payments which were due to them. The case is ongoing.
Learn more:
blockin.com
twitter.com/officialpoolin
