OKX Exchange announces discontinuation of mining pool services | CPT PPP Coverage
Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE
200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |
View more Headlines & Breaking News here, as covered by cryptopolytech.com
OKX Exchange announces discontinuation of mining pool services appeared on coinjournal.net by Charles Thuo.
- OKX Exchange discontinues Mining Pool services, citing business adjustments.
- New-user registrations are halted immediately; existing users are allowed until Feb 25.
- Complete cessation of mining pool-related services scheduled for Feb 26.
In a recent announcement, OKX, a major cryptocurrency exchange, has disclosed plans to cease its Mining Pool and related services. This decision, attributed to business adjustments, is set to impact users starting January 26, 2024.
The discontinuation schedule, outlined by OKX, indicates a phased approach with new-user registrations ceasing immediately and existing users having until February 25, 2024, to utilize the service before a complete halt on February 26, 2024.
OKX business adjustments
While revealing its intention to discontinue the mining pool services, OKX cited business adjustments as the driving force behind the decision.
Effective immediately, new-user registrations for mining services are no longer being accepted. Existing users, however, have been granted a brief window until February 25, 2024, to continue utilizing these services. Come February 26, 2024, all mining pool-related services provided by OKX will be discontinued, marking the end of an era for its mining operations.
Mining pools play a pivotal role in the cryptocurrency ecosystem by allowing miners to combine their computational power to solve blocks more efficiently. These pools enable individual miners to collaborate, thereby increasing the chances of successfully mining a block and receiving rewards. By pooling resources, miners can achieve more consistent and stable mining income compared to solo mining. Additionally, mining pools contribute to the overall security and decentralization of blockchain networks by distributing computational power across multiple participants.
While OKX’s decision to discontinue its mining pool services may disrupt the operations of some users, it underscores the importance of adaptability and strategic adjustments in the dynamic world of digital assets.
FEATURED ‘News of the Day’, as reported by public domain newswires.
View ALL Headlines & Breaking News here.
Source Information (if available)
This article originally appeared on coinjournal.net by Charles Thuo – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.
We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.
CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.
First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!