What is DirectPool?

DirectPool, a new Bitcoin mining pool with a 1% pool fee and a goal to give back to the Bitcoin community, has been launched.

According to their press release,

“Directpool.net is a modified version of Eloipool Engine which is capable of handling computing power from GPUs to the largest of ASIC equipment as well as any size mining farm. The pool is running on private dedicated equipment and moderated by talented admins to make it safe, secure, and highly stable.”

It goes on to say that the founders of DirectPool brought together a skilled team in order to make this Bitcoin pool that will be able to redistribute hashing power and will match larger pools’ capabilities. According to the press release, the pool is “merge mine ready for Namecoin.” This means that miners will be rewarded with Namecoin while mining for Bitcoin.

DirectPool “features a PPLNS payment system and variable difficulty for better worker load.” The mining pool’s team will maintain the security of each miner’s information and bitcoins. In fact, DirectPool has a fully Secure Sockets Layer (SSL) connection in order to ensure that personal information remains encrypted. In addition, DDOS mitigation is implemented for reliability. This will aim to limit DDOS attack on the server.

DirectPool’s Gives Back?

DirectPool’s goal is not only to provide a reliable Bitcoin pool but it is also to give back to the Bitcoin community. The founders will be funding Bitcoin related projects through donations made by their miners on DirectPool. In addition, DirectPool is working with the Bitcoin Business Alliance (BBA) in order to figure out the best way to implement donations for good causes. Specific donation projects will be listed at a later time.

The lead developer Donald, also known as x3maniac in the Bitcoin community said,

“Directpool’s focus is to serve the bitcoin mining community, since we are all miners to begin with. I joined this project to ensure that the bitcoin mining community has an awesome pool that is extremely reliable and secure. Thanks to our web development team, the website looks neat and fresh. I like how my stats are displayed and I can easily access the most used features of the pool in the Quick Stats menu.”

Why DirectPool?

A little while ago, a Bitcoin mining pool called GHash.IO had almost reached 51% network hashing power and this raised concerns from Bitcoin users. One pool dominating over the rest meant that the

“Pool can potentially control double-spend transactions, effect confirmations and prevent miners from mining valid blocks.”

Bitcoin’s elusive founder Satoshi Nakamoto was against the notion of centralizing an authority to Bitcoin. Having a mining pool with over 50% hashing power means that pool is the equivalent of an authority figure.

With a temporary solution, GHash.IO responded to the concerns by raising pool fees and limiting new members. At the end, the best choice was to shift to other pools in order to maintain Bitcoin’s decentralized nature.

This is what DirectPool is striving to achieve. It is the “next generation” mining pool that will maintain a balance in the distribution of bitcoin network’s hashrate, and at the same time, maybe even more importantly, DirectPool will be giving Back to the Bitcoin community via donation projects. This new pool seems like a pretty legit deal.

And so to those interested in keeping Bitcoin network decentralized, here is the pool’s website: www.directpool.net

Happy mining!

– Sid M.

Disclaimer: CoinReport fully supports the decentralization of Bitcoin and ‘giving back’ projects.

Image via Directpool.net