Getting Started: To start mining, users must first log in to their verified Binance account and register for a Binance Pool account. After registration, miners can begin mining Bitcoin from November 18, 2024. Users need to add an external wallet address for Fractal Bitcoin (FB) to their Binance Pool account and can track their current hashrate and earnings via the Pool dashboard.

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The mining process uses the PPLNS payout model, with a minimum payout threshold of 0.1 FB. However, users need to ensure that they have properly configured an FB wallet address, as no rewards will be accrued without it.

Key Notes:

• Fractal Bitcoin (FB) is not yet available for trading on Binance.com, and the introduction of FB mining does not guarantee a listing.
• If users’ FB earnings fall below the minimum payout of 0.1 FB, the earnings will remain in their balance.
• For users with a sufficient hashrate, the opportunity to apply for VIP status is available via email.

This new feature is part of Binance’s ongoing efforts to innovate in the cryptocurrency mining space, providing users with more opportunities to earn while also adding a new dimension to traditional Bitcoin mining.

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The mainnet debut comes after a sequence of testing starting in July 2024 on a testnet. Claiming to be the only Bitcoin scaling solution utilizing the core code itself, Fractal Bitcoin focusing on Bitcoin-native constructions instead of Ethereum Virtual Machine (EVM) compatibility helps it to stand out from other Bitcoin sidechains and claimed Layer 2 solutions. Moreover, this method combines the OP_CAT opcode to increase the range of use for Bitcoin.

According to the project, the network allows a 20-fold increase in capacity per layer by use of recursive layering and claims to attain block confirmation speeds of under 30 seconds. Fractal can naturally support Bitcoin systems, including BRC-20, Runes, Ordinal, and more. On the mainnet, PizzaSwap will open as a distributed exchange.

To further network security, it also includes a new mining structure known as “Cadence Mining,” which mixes merged mining with Bitcoin with permissionless mining. Leading the project as main contributors are blockchain investment and development firm Block Space Force and Bitcoin-based wallet software Unisat.

With the mainnet, the initiative has also launched its native cryptocurrency with the symbol FB, with a total quantity of 210 million tokens.

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The post Fractal Bitcoin: A New Layer for Bitcoin Scalability appeared first on Coin Engineer.