Binance Pool Adds Dogecoin and Bellscoin to Merged Mining Rewards
Binance Pool has added Dogecoin and Bellscoin to the list of rewards for Litecoin miners using merged mining. This means that Litecoin miners can now earn rewards in three cryptocurrencies: Litecoin, Dogecoin, and Bellscoin.
What is Merged Mining?
Merged mining is a process where a miner uses the same equipment to mine two different cryptocurrencies simultaneously. This can boost the miner’s earnings. Merged mining is only possible when the cryptocurrencies use the same consensus protocol and hash function, such as Scrypt or SHA-256.
Bellscoin
Bellscoin (BEL) is a cryptocurrency created by Billy Markus, the creator of Dogecoin. Markus initially launched Bellscoin in 2013 but abandoned the project to focus on Dogecoin. He revived Bellscoin last year after leaving the Dogecoin team.
Binance has not yet listed Bellscoin on its exchange. It has cautioned investors that the launch of Bellscoin mining on Binance Pool does not guarantee a listing on Binance.com.
How Does Bellscoin Merged Mining Work?
* Miners can mine Litecoin as the “parent” chain and earn rewards in Bellscoin as the “child” blockchain.
* The payout model used is PPLNS (Pay Per Last N Shares), with a minimum payout of 1 Bellscoin.
* Earnings are based on the actual output of the mining pool and are not affected by Litecoin or Dogecoin earnings.
- Learn more about Bellscoin: Bellscoin Website
- Learn more about Binance Pool: Binance Pool Website
**Disclaimer:** This information is for informational purposes only and is not intended as investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
