Cryptocurrency exchange Binance today announced an Ethereum Proof-of-Work (ETHW) mining service for its users. Binance further announced Thursday that those who take part in the ETHW pool will not be charged a fee until October 29.
Mining pools are formed when groups of crypto miners want to share resources to allow other miners to work with them and collectively have a better chance of processing a transaction. Binance gives its users the chance to join pools with a service called Binance Pool.
#Binance launches the Ethereum Proof-of-Work $ETHW Mining Pool!
Mine $ETHW with #Binance Pool and enjoy zero fees on all your earnings
Read more https://t.co/gwe0eKb1Pt pic.twitter.com/J6jFOpljzG
— Binance (@binance) September 29, 2022
ETHW surged at the news: the cryptocurrency at the time of writing was trading for $12.21, a 12% increase over the prior 24 hours. Earlier today it was as high as $12.72 per token, according to CoinGecko.
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