TL;DR: ViaBTC Group recently announced the further teaming of its influential mining pool division and popular cryptocurrency exchange CoinEX. The two are combining for a “strategic upgrade, which includes a new organizational structure, product innovations and service improvements.”
ViaBTC & Popular Exchange CoinEx Team Up
Hong Kong-based mining pool ViaBTC and exchange CoinEx have been active of late, and especially with the peer-to-peer electronic cash community. Founder Haipo Yang is a well-known supporter of Bitcoin Cash (BCH), the most popular version of P2P crypto at the moment, and BCH is something Yang has been involving himself with more publicly.
For example, he was a signatory of the controversial Infrastructure Funding Plan for Bitcoin Cash (IFP), along with its author Jiang Zhuoer of mining pool BTC.TOP and Jihan Wu of Bitmain, earlier this year. The IFP hoped to at least spark sustainable funding for protocol development on BCH, but ultimately failed to gain much in the way of community support. He’s resurfaced since to float another sustainable funding concept, what he calls the Bitcoin Cash Foundation.
Yang’s comments, the most detailed in English of their kind, came during a lengthy livestream hosted by BCH reference implementation team, Bitcoin ABC, and seemed to be seconded by Zhuoer. And though the IFP and hypothetical Bitcoin Cash Foundation are unrelated to the present ViaBTC Group announcement, combined they signal a flurry of activity aimed at positioning Yang’s business passions for what most analysts believe to be a coming bull market.
“As part of the change,” ViaBTC continued, “the Group has established three dedicated business units (BU): the financial services BU, consisting of ViaBTC mining pool and CoinEx exchange; the infrastructure services BU, including ViaWallet and CoinEx Chain Explorer; and the ecological development BU, focusing on the research and development of public chain technology and the construction of the ecology.” Those will lead to an embedded mining wallet (users store, deposit, withdraw revenue, transfer assets to CoinEx at any time without charge), revenue distributions on an hourly basis and a “resource sharing platform,” daily or monthly investor-oriented income analysis reports, and even an eventual SAAS mining pool service.
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DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.