Binance Pool Partners with BitRiver

Binance Pool, an inclusive cryptocurrency mining platform, today announced its partnership with BitRiver, a provider for mining in the Commonwealth of Independent States (CIS). BitRiver has added a node of Binance Pool to its full-service cryptocurrency mining datacenter in the city of Bratsk, Russia, according to the announcement.

The collaboration is aimed at creating a comprehensive infrastructure for the entire crypto and mining industry in Russia and CIS. Binance Pool’s node will enable BitRiver’s customers to have a more reliable and higher quality connection between their mining devices at BitRiver’s data center and Binance Pool’s platform.

“Binance Pool offers a highly competitive fee structure to institutional-scale miners, who are the customers of our data center. By having Binance Pool’s node in our data center, our customers from across the globe can now enjoy a more reliable and higher quality connection from Binance Pool,” said Igor Runets, CEO at BitRiver. “This would not only reduce network latency and potential downtimes but also lower the rejection rate of blocks, directly translating into better gains for Binance Pool users from our data center.”

“Bitriver is one of the largest data centers in Russia and CIS and we highly appreciate that the Сompany tested and evaluated our range of services for cryptocurrency miners. Binance and BitRiver’s collaboration allows strengthening the level of services and expanding access to our customers, ” Gleb Kostaev, Binance’s director in Russia and CIS, noted.

Binance, a global Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term, cryptocurrency infrastructure provider, announced the launch of Binance Pool last April. Binance Pool provides more opportunities and financial tools for miners and the mining industry. It is integrated into the Binance ecosystem, allowing users access to its suite of derivatives products including Binance Futures, Spot and Margin trading, Binance Savings, Binance Staking, and OTC services.

BitRiver

Founded by Igor Runets in 2017 and headquartered in Moscow, BitRiver LLC provides Hosting Hosting Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Since most forex infrastructure is located at a couple of locations globally, it is wise for the broker to co-locate its infrastructure. The industry’s hotspots are London’s LD4 and LD5, New York NY4 and NY5, Tokyo’s TY3 and Hong Kong’s HK1.Hosting services can be handled internally directly with the datacenter or by using one of the available hosting solutions providers servicing the industry. The world’s most advanced data centers offer specialized products that support evolving equipment standards and technology requirements. This is essential for brokers or exchanges, many of which require a blend of physical security and power usage with turnkey relocation services and support globally.In addition to overall speed, such connections are also very helpful in minimizing security threats. Many companies even outside the finance industry prefer to rely on these types of advances hosting services.The advent of cloud hosting has also led to efficiency improvements, especially for execution and operations. This technology also gives banks a greater opportunity to drive out complexity. Hosting through the cloud also helps develop and launch new and bundled products and services, either on a stand-alone basis or in partnership. Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Since most forex infrastructure is located at a couple of locations globally, it is wise for the broker to co-locate its infrastructure. The industry’s hotspots are London’s LD4 and LD5, New York NY4 and NY5, Tokyo’s TY3 and Hong Kong’s HK1.Hosting services can be handled internally directly with the datacenter or by using one of the available hosting solutions providers servicing the industry. The world’s most advanced data centers offer specialized products that support evolving equipment standards and technology requirements. This is essential for brokers or exchanges, many of which require a blend of physical security and power usage with turnkey relocation services and support globally.In addition to overall speed, such connections are also very helpful in minimizing security threats. Many companies even outside the finance industry prefer to rely on these types of advances hosting services.The advent of cloud hosting has also led to efficiency improvements, especially for execution and operations. This technology also gives banks a greater opportunity to drive out complexity. Hosting through the cloud also helps develop and launch new and bundled products and services, either on a stand-alone basis or in partnership. Read this Term services and turnkey solutions for large-scale cryptocurrency mining operations to institutional investors around the world. The firm employs over 50 full-time staff in three offices across Russia and full-time sales representatives in China, Japan, UAE, and the USA. BitRiver currently utilizes only surplus hydroelectric power to operate the largest data center that offers co-location services for cryptocurrency mining in Russia and the CIS region.