The world's first and oldest Bitcoin mining pool has mined nearly 1.3 million BTC since inception

All things person their humble beginnings; successful 2010, the archetypal Bitcoin (BTC) mining task was created successful Prague, Czechia, and was simply called Bitcoin.cz. Soon afterward, laminitis Mark "Slush" Palatinus decided to determination connected to different ventures, specified arsenic creating the world's archetypal cryptocurrency hard wallet, Trezor. As a result, Braiins, a institution doing embedded Linux improvement and research, took implicit the mining excavation and renamed it accordingly.

Fast guardant to today, Braiins (Slush Pool) has grown to go 1 of the biggest Bitcoin mining pools. There are present implicit 15,000 users successful the space, with its full hash complaint accounting for 5% to 8% of that of the wide Bitcoin network. The institution derives 100% of its income via BTC and charges a 2% committee from its mining firmware. In an exclusive interrogation with Cointelegraph, Kristian Csepcsar, main selling serviceman astatine Braiins, explained wherefore crypto enthusiasts are inactive choosing the world's oldest mining excavation aft each these years, contempt truthful galore competitors available.

One of the archetypal aspects discussed was wherefore firmware is truthful captious successful the process, to which Csepcsar gave the illustration of grid balancing successful Texas. He explained, "You crook connected the mining instrumentality erstwhile there's a batch of energy successful the grid, but you mightiness person to crook them disconnected successful milliseconds erstwhile request is precocious from households."

"Now ideate a large workplace of 60,000 machines; it's precise hard to modulate them without the assistance of firmware, which solves the occupation easily."

But it's not conscionable the technological facet that's alluring caller miners to the Braiins mining pool. It's besides astir the ethos of the company. "Other mining pools privation to enactment arsenic galore forks of Bitcoin arsenic imaginable due to the fact that it's conscionable a gross watercourse and is bully for business," said Csepcsar. "But we are not astir that; during the Bitcoin Cash (BCH) fork successful 2017, we decided to enactment existent to our cardinal imaginativeness and not grow our mining excavation to BCH due to the fact that it was conscionable a fad."

Kristian Csepcsar astatine Braiins headquarters | Source: Kristian Csepcsar

And existent to his words, Braiins contiguous does not excavation immoderate different integer currencies different than BTC. Contrary to fashionable belief, Braiins isn't sitting connected a immense heap of integer wealth arsenic you'd expect. Csepcsar explains:

"Nobody expected Bitcoin to win that quickly. So we were selling a batch much initially [when the terms was precise low] to money operations. In addition, determination was a hack of the unreality work aboriginal connected that resulted successful 3,000 BTC stolen. So like, we're not sitting connected Satoshi level wealth."

When asked astir however the steadfast stays beardown cryptocurrency carnivore markets, erstwhile the terms of integer currencies tin often plunge 70% to 80% successful a precise abbreviated play of time, Csepcsar responded:

"The bully happening is that we started early. All the co-founders were already acold capable successful their careers to person wealth from their erstwhile occupation successful large tech companies. We're Bitcoiners, and we don't judge successful numbers going up forever. There are ever going to beryllium crashes. And truthful we hole for that."

In addition, Braiins is fiercely independent, having ne'er accepted wealth from task capitalists oregon outer investors. Some crypto enthusiasts would reason determination is simply a request for centralized institutions, specified arsenic information regulators, to measurement successful and modulate the volatility of integer currencies, truthful investors and businesses alike could program for dilatory and dependable (albeit controlled) growth. But not Csepcsar, arsenic helium tells Cointelegraph:

"Imagine if we traded Bitcoin the aforesaid arsenic the NASDAQ, 8 hours a day, Monday to Friday alternatively of 24/7. Bitcoin is increasing accelerated similar an exponential technology, and we privation it to stay that way. Restrictions marque everything slower and little efficient."