F2Pool Launches NFT Series to Celebrate 10th Anniversary

    05 May 2023. Written by f2pool

    f2pool celebrates its 10th anniversary by launching our Bitcoin Ordinals NFT series, honoring a decade of PoW and mining industry milestones.

    As f2pool marks its 10th anniversary, we’re thrilled to introduce our Bitcoin Ordinals NFT series—10² Islands—a tribute to the journey we’ve shared with the mining community!

    Over the past decade, f2pool and the mining industry have grown together, overcoming challenges and achieving incredible milestones. To honor this shared history, we’ve created a unique NFT series that highlights 10 key events and inspiring stories that have shaped the web3 world as we know it.

    These special NFTs will be gifted to our dedicated crypto-mining community through engaging interactions and mining events!

    A Decade of Growth: 10 Years of Iteration

    As 2023 marks the 10th anniversary of f2pool, one of the leading Bitcoin and crypto mining pools, we aim to make this celebration extra special. In addition, this year also commemorates a decade since Bitcoin evolved into an industry with the launch of the first professional ASIC machine in 2013.

    To celebrate the past 10 years of Bitcoin, crypto mining, and the evolving Proof-of-Work landscape, we’ve crafted a collection of 10 unique NFT series, each symbolizing a milestone or influential story from each year between 2013 and 2022. Our special island-themed NFTs total 100, with 10 primary series corresponding to the 10 significant stories, and 10 different variations within each series.

    Here are the milestones we’ve chosen for each year:

    The Arrival of the First ASIC

    ASICs revolutionized mining in 2013, fueling BTC adoption & starting the crypto “Gold Rush”. 2013 was also the birth year of f2pool, leading the mining scene in Asia.

    Dogecoin’s Rise

    Dogecoin, a fun meme-based crypto, gained popularity, generating huge trading volume & united a community to fund the Jamaican bobsled team in 2014.

    ETH Genesis Block

    Ethereum’s 2015 debut introduced decentralized applications & smart contracts, GPU mining surged, and it became the second-largest cryptocurrency.

    Bitcoin Hashrate Surpasses 1 EH/s

    In 2016, Bitcoin hashrate surpassed 1 EH/s, signifying growth in computing power & network security, with large-scale mining operations expanding.

    SegWit Activation

    In 2017, Bitcoin & Litecoin communities activated SegWit, an impactful protocol upgrade that enabled advanced protocols like Lightning Network & Taproot.

    The Emergence of Lightning Network

    2018 marked the Lightning Network launch, enabling instant, low-cost transactions, and fostering community engagement through initiatives like Lightning Torch.

    Bitcoin Hashrate Soars to 100 EH/s

    In 2019, Bitcoin’s hashrate reached 100 EH/s despite a downturn, sparking sustainability discussions and driving the industry toward eco-friendly mining practices.

    Bitcoin 3rd Halving

    2020’s third Bitcoin halving reduced block rewards, catalyzing a bull run and showcasing Bitcoin’s unique monetary policy. f2pool mined the last pre-halving block and incorporated a message mirroring the one embedded in the genesis block at Bitcoin’s inception.

    Bitcoin Becomes Legal Tender

    El Salvador’s adoption of Bitcoin as a legal tender in 2021 showcased its global impact and brought financial inclusion to millions lacking traditional banking access.

    The ETH Merge

    2022’s Ethereum PoW to PoS transition altered the mining landscape, promising a more secure, stable & energy-efficient system while sparking new mining opportunities. A bright future lies ahead.

    You may also view our NFT Gallery page to read stories in more detail.

    Inscribe to Bitcoin

    Bitcoin Ordinal NFTs have emerged as new innovations with the potential for widespread adoption. Capturing people’s attention, the inscription process is gaining popularity as it continues to grow. Unlike some previous NFT concepts, these NFTs are exclusively stored on the Bitcoin blockchain.

    The process for creating NFTs with Ordinals, known as inscription, is quite unique. It involves combining a satoshi with the files, resulting in a unique satoshi, the smallest unit of Bitcoin, linked to each NFT.

    Each satoshi has its sequence, making every one distinct. To commemorate this special day, we’ve reserved the newly mined satoshis from the first block we mined on May 5th, 2023, for NFT inscriptions.

    After 100 block confirmations, these fresh satoshis are eligible for transactions and ready to be inscribed with our NFTs! We will then begin the process of transferring all 100 of our 10² Islands to the blockchain!

    NFT Allocations

    Following our inscriptions, we will be rewarding our community with 100 rare NFTs. Our 10² Islands NFTs will be allocated to the following participant groups:

    Twitter Interactions (5 NFTs)

    On our anniversary, we will share the news on Twitter. Follow @f2pool_official on Twitter, retweet, and comment with a memorable crypto story or old photos. We will select the five best comments and reward each with an NFT. We will announce the results before the end of May.

    Birthday Block Miners (~20 NFTs)

    On May 5, 2023 (00:00 to 23:59 UTC), miners who find BTC blocks produced by f2pool will be eligible to receive an NFT. We estimate approximately 20 NFTs will be allocated for this category.

    Random Miners in the Next 30 Days (30 NFTs)

    For 30 days after our birthday, we will choose a BTC miner per day from those mining blocks at f2pool and reward them with an NFT. A total of 30 NFTs will be allocated for this category.

    Top Hashrate Gainers (20 NFTs)

    From May 5, 2023 to June 5, 2023, the top 20 BTC hashrate gainers at f2pool will each receive an NFT.

    f2pool Vault (~25 NFTs)

    The remaining ~25 NFTs will be reserved in f2pool’s wallet as the NFT vault for rewarding business partners and marketing events.

    We kindly remind participants that winners who find blocks produced by f2pool will be rewarded for the actual block mined. These winners will not be eligible to participate in the other parts of the allocation. Additionally, winners for the other parts of the allocation will not be eligible to repeatedly win the NFTs.

    A Journey Together

    As we have been highlighting key events and inspiring stories that have shaped web3, we are looking forward to a bright future that is mined together. Block by block.

    The crypto community has embarked on a remarkable journey, navigating the vast ocean of blockchain, and building unique islands powered by miners, developers, and enthusiasts. These islands are interconnected in extraordinary ways, laying the groundwork for today’s Web3 ecosystem. As we navigate the vast ocean of possibilities, these islands stand as beacons of hope, illuminating the path toward a future where decentralization and community form the very essence of our collective journey.

    Dear miners, builders, and all Web3 citizens, we extend our happiness and gratitude for your support——for f2pool, the whole Proof-of-Work world, and crypto today! Thank you for being part of this remarkable journey, and we look forward to exploring a brighter future together!

    About f2pool

    f2pool is a geographically distributed mining pool that has been helping miners around the world secure Bitcoin and other PoW networks since 2013.

    Written by f2pool