Highlights:
- Users can earn Fractal Bitcoin rewards when mining with Binance Pool’s merged mining, which boosts mining opportunities.
- The requirements of merged mining include a verified Binance account and an external wallet for Fractal Bitcoin rewards.
- Based on Bitcoin’s sidechain, Fractal Bitcoin is a layer 2 scale sidechain, enhancing its scalability and maintaining Bitcoin’s security.
Binance Pool has launched a merged mine for Fractal Bitcoin (FB), enabling users to mine Bitcoin while simultaneously earning FB tokens. Starting November 18, 2024, this new feature offers miners an opportunity to diversify their cryptocurrency earnings within the Binance ecosystem.
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Amazing news, Fractal Fam! 🎊 @Binance Pool is now live with FB merged mining — earn FB while mining BTC!
This is exactly what the Fractal community has been working towards: Making it easy to secure both Bitcoin and Fractal. 💪
Welcome to all new miners joining our community!…
— Fractal Bitcoin (@fractal_bitcoin) November 18, 2024
Fractal Bitcoin is a layer 2 side chain initialized with the Bitcoin core protocol. It acts as a scaling solution that allows for extensive blockchain expansion by adding layers on top of Bitcoin’s main network while preserving blockchain security.
Despite this, FB is not yet listed on Binance’s trading platform. Including an external Fractal Bitcoin wallet into their Binance Pool configuration will help miners start collecting these tokens. This configuration lets BTC miners receive FB payouts directly into their designated wallet addresses.
How Merged Mining Works on Binance Pool?
Users of this merged mining process must confirm their Binance accounts and create a Binance Pool account, especially for Bitcoin mining. Then miners must connect their external Fractal Bitcoin wallet to ensure they get FB payouts. The Binance platform provides a step-by-step guide that assists users in connecting their mining equipment and configuring their accounts for the best performance.
Once miners are set up, they can track their mining activity and earnings in real-time on Binance Pool’s dashboard under the ‘Workers’ and ‘Earnings’ sections. Fractal Bitcoin mining features a payout system modeled as Pay-Per-Last-N-Shares (PPLNS), requiring a minimum threshold of 0.1 FB for each payout. Any earnings below this minimum will accumulate in the user’s account balance until they meet the threshold. This ensures all mined rewards are accessible over time.
Eligibility for VIP Status and Performance Tracking
Binance Pool also offers a VIP program for those with high computing power, in which users can get more benefits in return for daily mining output. Compatibility with VIP levels is calculated depending on the user’s hash rate — from Level 1 (from 20 Ph/s) to Level 9 (from 4,000 Ph/s). The Binance Pool tiered system incentivizes larger-scale miners and gives them access to exclusive Binance Pool ecosystem benefits.
It helps the miners maintain a stable mining environment as they can monitor their performance in hashrate. Binance has issued guidelines for safe and compliant mining. They have warned users against modifying their program code or using unauthorized third-party software. Binance reserves the right to disqualify any user who violates these terms to ensure fair and secure operations.
Fractal Bitcoin: A Layer 2 Scaling Solution
Fractal Bitcoin launched in early September 2024. Its innovative scaling layer closely aligns with Bitcoin’s original principles. The Fractal mainnet includes Bitcoin’s genesis block message, highlighting its commitment to the Bitcoin ethos. Fractal offers other features including zero-knowledge (ZK) roll-ups by including an older Bitcoin opcode, OP_CAT. As such, this increases utility while following Bitcoin’s established safety standards.
🚀 The Fractal Mainnet is LIVE! 🚀
We’re thrilled to announce that Fractal’s first block has been mined, marking the beginning of a new era for scaling Bitcoin natively. 🌐 Fractal’s genesis block carries the same message as Bitcoin's: "The Times 03/Jan/2009 Chancellor on brink… pic.twitter.com/YtjGG47Z7a
— Fractal Bitcoin (@fractal_bitcoin) September 9, 2024
While Binance noted that there are no plans to list FB on its exchange at this moment, Binance Pool’s merged mining for Fractal Bitcoin offers fresh incentives. Currently, the emphasis is on supporting mining incentives and expanding the range of services offered by Binance Pool. Consequently, this will help Binance’s role to become the leader in blockchain technology.
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