A year after removing Bitcoin SV from its exchange in April 2019 and the mining pool operated by leading crypto exchange Binance now produces more blocks than anyone else.
According to crypto statistics and services platform Coin Dance, Binance Pool is the largest miner of Bitcoin Satoshi’s Vision (BSV) blocks as of June 16. Binance Pool is responsible for 26.39% of all BSV blocks mined, with Huobi’s mining arm ranking second with 13.19%.
Source: Coin Dance
BSV ‘didn’t meet standards’
Binance delisted and ceased trading of all trading pairs for BSV in April 2019. The crypto exchange explained that it regularly ensured digital assets listed on its platform meet a “high level of standard” and the decision to remove BSV “best protects all of [its] users”.
However the delisting came in the wake of Binance CEO Changpeng Zhao expressing outrage at Satoshi claimant Craig Wright for issuing a $5000 bounty for doxxing Hodlnaut — the Twitter user behind the Lightning Torch initiative.
In response, Zhao tweeted: “Craig Wright is not Satoshi. Anymore of this sh!t, we delist!”
A few days later, Binance made the announcement it would no longer offer trading on BSV.
BSV to relist? Maybe not
Some members of Crypto Twitter have speculated that mining BSV may be a prelude to relisting the token on the exchange:
> delists bsv
> starts mining bsv
> relists bsv https://t.co/gVZGiZmmM3
— 3 ✪ (@nondualrandy) June 10, 2020
Another Twitter user, AzhellTom, claimed to have spoken directly to CZ — who explained that “other people [are] using their pool to mine BSV.” However, this still means Binance is profiting from pool fees around 2.5% from BSV mining.
The price of BSV is $175.42 at the time of writing, down 7.59% this week.
Joseph Spezzano received a Masters Degree in computer science from The University of Massachusetts. Joseph has been working as a full-time blockchain programmer for the past 5 years. In his spare time, Joseph enjoys writing for CryptocurrencyInvestments.com and traveling.