What is the use of mining pools (how long does it take to mine in a mining pool)?

What is the use of mining pools? Mining pools are one of the ecological applications of decentralized finance (DeFi). Mining a coin is equivalent to establishing a new currency trading platform on the blockchain, and users can obtain liquidity by depositing a certain digital asset.

In the traditional Internet world, the prices of cryptocurrencies such as Bitcoin fluctuate greatly, and the price of Ethereum often experiences significant decline and market value shrinkage. Now, with the development of the Bitcoin market and the increasing popularity of the DeFi concept, many people have started to pay attention to this field and try to participate in it. The difficulty and returns of mining vary from project to project: for example, games like Axie Infinity reward players through mining, which makes the funds more secure and valuable, and also provides investment opportunities for investors. In addition, there are many mining activities that can be conducted, including speculation on various currencies, such as DeFi projects on Ethereum, and so on.

How long does it take to mine in a mining pool

Official website of the mining pool: https://www.huobipool.com/farm?openId=oY2Z4H5Lm6J3kA7z9Eh

Currently, the top ten mining pools in terms of network computing power have successively launched their own mining services in the past week. The official website of the mining pool stated, “If users want to participate, they have to wait until the next mining requirement is met before they can start using our products.” According to previous reports, Huobi will stop supporting all currencies, newly added currency pairs, and liquidity mining services on August 14, 2020 at 16:00 (UTC+8).