November for 2Miners: update of ZEC and ERGO nodes

December 1, 2022 by cryptobreak

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It’s winter, and to get it off to a real start, we need to take stock of November. Today we look back at what it was like for the 2Miners mining pool. In a nutshell, the cryptocurrency bear market is seriously affecting the profitability of mining, but cryptocurrency mining continues.

Cryptocurrency nodes update

Representatives from the 2Miners team have updated the cryptocurrency nodes. This is to ensure better mining efficiency.

Specifically, the Zcash (ZEC) 5.3.0 update includes performance improvements and reduces memory usage during scanning and other memory and efficiency-related optimizations of the Zcash node.

Zcash (ZEC) 5.3.0 update

The Ergo node has been updated to Protocol Reference Client 5.0.3. A full list of improvements is available via a link on GitHub.

Changing mining yields

November 2022 will be remembered for the collapse of cryptocurrency exchange FTX. The problems began with a publication on news site CoinDesk on the second of November, which raised the issue of the financial security of FTX and Alameda Research, the trading company founded by Sam Bankman-Fried. In the end, it became clear that most of Alameda’s assets were in FTT, the native token of cryptocurrency exchange FTX.

The collapse of FTX led to a collapse in the value of the coins, which are mined using video cards and ASIC miners. This, in turn, resulted in a slump in mining profitability and even the disconnection of some miners from the network, given the low and sometimes negative yields. Even the Bitcoin network’s hash rate fell by more than 10 percent in November.

Bitcoin network hashrate graph over the past year

At the end of the month, the market stabilised slightly and the rates of many coins rose slightly. Accordingly, the profitability of mining has also increased. The most profitable cryptocurrencies for certain equipment will always be suggested by 2CryptoCalc calculator. It is very easy to use: all you have to do is to specify the model of video cards and their number at your disposal. An advanced option is to specify hash rate for a particular algorithm.

2CryptoCalc calculator interface

BTG delisting from Binance

On October 24, 2022, the cryptocurrency exchange Binance delisted BTG. Unfortunately, this news was missed by many miners who still haven’t reacted to what is happening. So if you have been mining BTG to a Binance cryptocurrency exchange address, change it in your settings.