1Hash.

1Hash was a Bitcoin mining poolMining poolA group of miners who share the work of finding blocks and split the rewards, so each gets paid steadily instead of rarely. built by Hangzhou Kuangchi Technology (杭州矿池科技有限公司), a company in a university science park in Hangzhou, China. The pool celebrated its launch in late February 2016 and found its first block, 401,094, on 4 March 2016. It was busiest in spring 2017: in April that year it found about one block in twenty. Its blocks rarely carried its name, so block explorers recognise them by the address their rewards were paid to.

1Hash paid its miners by pay per share, or PPS: a set amount for each piece of work they sent, whether or not the pool found a block. It added up each day’s earnings and paid them once a day to an address each miner chose. So each 1Hash block’s first transaction paid the whole reward to the pool’s own address, and the pool paid its miners separately. These are payments to the pool’s miners, separate from the transactions confirmed inside the block. 110 of its blocks held no transactions at all apart from that reward.

In May 2017 1Hash was among the companies that signed the New York Agreement, a plan to switch on SegWitSegWitSegregated Witness: a 2017 upgrade that moved signatures into a separate part of each payment, making room for more payments., an upgrade to Bitcoin, and then double the limit on the size of blocks; from June its blocks carried the agreement’s tag, “NYA”. On 4 December 2017 1Hash said it would stop running the pool indefinitely, for the needs of its business, and asked its miners to move to other pools. Its last block, 498,050, was found on 7 December 2017.