December for the 2Miners mining pool: end of the year and its results
Today is the time to celebrate the New Year. Before that, however, it is worth taking stock of December. For the cryptocurrency industry as a whole we have already done that, but now it’s time to talk about the 2Miners mining pool.
Cryptocurrency nodes update
The pool team has updated the software of the nodes to make cryptocurrency mining more efficient.
For example, the new Ergo Protocol Reference Client 5.0.4 release has received quite a few optimizations in the code – relevant details of the update are described on Github.
Zcash v5.3.2 and previous version v5.3.1 have fixed some minor issues and improved memory usage. Information about the update can be found on this page.
Finally, a new release of Cortex 1.10.36 has been named after footballer Lionel Messi. Read the details here.
Cortex 1.10.36 release named after Lionel Messi
Mining in 2022 – summary
The past year has been a very tough one for cryptocurrencies in general and mining in particular. First we experienced the collapse of the Terra ecosystem in spring, then crypto fund Three Arrows Capital and the Celsius trading platform dropped into oblivion. The cherry on the cake was the bankruptcy of cryptocurrency exchange FTX, which eventually led to a notable collapse of the digital asset niche.
Challenges for cryptocurrency miners in 2022
Equally important in the context of mining was Etherium’s September transition to the Proof-of-Stake consensus algorithm instead of Proof-of-Work, making it now impossible to mine ETH using video cards. This is the main and most painful event for miners in 2022 – there is no doubt about that. It is estimated that about 95 percent of all video cards were mining ETH, so the cessation of Etherium mining has freed up a huge amount of processing power. The latter was redirected to other coins, resulting in a significant drop in the profitability of mining. Yes, EthereumPoW was born instead of ETH, but that didn’t help much.
Anyway, the community of miners is strong enough – and even today there are more than 50 thousands of people in 2Miners pool. In 2022 the 2Miners team removed not only ETH, but also Expanse (EXP), Metaverse (ETP) and MimbleWimbleCoin (MWC). As a result, seventeen coins are now available on the pool, and the developers are working on adding new projects. At the moment the focus of the team is the cryptocurrency Kaspa (KAS).
2Miners mining pool home page
The Bitcoin rewards system has proven to be extremely attractive and convenient for the pool’s miners, with this year also extending to Ravencoin, Ergo, Ethereum Classic and Zcash. The BTC payouts for Horizen are also almost ready. In general, 2Miners team would like to implement this feature for all supported coins, but it is far from always possible to find a reliable cryptocurrency exchange with the right trading pairs, good volumes and API support.
The bottom line is that it doesn’t matter if you believe in a bullrun coming soon or not. Cryptocurrency mining will continue to exist and the 2Miners team will continue to guarantee the best conditions for mining coins.
We wish you more success in 2023. And more mega cash as well!
Join our community of miners on Telegram. We’ll talk about other important topics there as well.
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