Support for TEX addresses on the 2Miners mining pool

As the cryptocurrency industry grows, so do the demands for transaction transparency and compliance. The previous day, ZCash TEX addresses were created online in response to increased regulatory activity. For example, the Binance exchange and other trading platforms have started demanding that transactions be conducted from transparent addresses, which is what prompted the launch of TEX addresses that are fully compliant with these types of transfers.

Zcash mining pool data on the 2Miners pool

ZCash TEX addresses are designed to receive transfers exclusively from transparent addresses, not from protected or so-called Shielded addresses. Accordingly, a user of a protected address must first send coins to a transparent address and then transfer them to a new TEX address. In general, the introduction of TEX addresses as part of the ZIP 320 offer allows to meet the requirements of exchanges without creating problems for the privacy of users. At the same time, the emergence and popularisation of TEX addresses has been driven by growing regulatory pressure for greater transparency in transactions. This is especially true for popular crypto exchanges like Binance, which are forced to threaten to delist projects that do not meet such requirements.

Do TEX addresses on the Zcash network reduce user privacy? If users prioritise privacy and are already using secure accounts, they will be little affected by the innovation. The ZCash wallet structure of the 2Miners mining pool minimises privacy risks and prevents snooping through metadata. However, such addresses somehow help node operators to compare data during various transactions and make certain conclusions.

Developers of anonymous cryptocurrencies

Is Zcash regulatory compliant thanks to TEX addresses? While TEX addresses meet current regulatory requirements without a major blow to privacy, they represent just the start of potential regulatory changes that could have a greater impact on user privacy. It’s possible that, amidst what’s happening in the future, ZCash will rely more on decentralised exchanges and wallets, which will be supported by 2Miners’ ZCash wallet.

Node Updates

Zcash (ZEC) Update v5.10.0.

The latest Zcash update introduces support for Network Upgrade 6 (NU6) in the testnet when a planned upgrade is scheduled and required soon in the mainnet. This release also improves the handling of RPC methods and improves platform support by excluding legacy operating systems like Debian 10 that no longer meet 2Miners security standards. Fixes for recent vulnerabilities disclosed by the Bitcoin Core security team have also been implemented to improve node security.

Horizen (ZEN) v5.0.4 update

This update increases block height to support legacy versions, thereby providing a smoother transition for users to newer and more secure versions of node software. It is critical for all node holders in the mainnet to upgrade before the appropriate block height to continue to ensure the security and integrity of the network.

Ergo Version 5.0.22.

The Ergo update expands query functionality for blockchain transactions, and eliminates duplicates in transaction results. All of this improves the reliability and accuracy of data retrieval within the network.

Ergo cryptocurrency miner

Pyrin’s failed update

The Pyrin network planned a major update to version 0.14.2.3 to improve performance by increasing the block creation rate from 1 to 10 units per second. In this way, the update was supposed to improve the throughput and scalability of the blockchain, allowing more transactions to be processed and reducing latency for Pyrin users.

However, the update did not go according to plan. Although all mining pools updated to the latest version, the network experienced serious stability issues. The sharp increase in block creation speed led to several chain splits and loss of consensus between nodes. This created multiple disagreements over the valid blockchain, which generally fragmented the network and caused serious problems for users and miners.

Cryptocurrency miner

The developers of Pyrin decided to bring back some created blocks to stabilise what was happening in the blockchain. They rolled back to the previous version of the node software (0.14.5), under which each block is created once per second. As a result, the operational stability of Pyrin has been restored.

At the moment, the network is stable and mining continues. Overall, miners should keep an eye out for new updates that will incorporate lessons learnt from the situation.

Reduced rewards in the Karlsen and KASPA networks

New reward in Karlsen (KLS)

The block reward on the Karlsen network has been reduced from KLS 41.60 to KLS 40.45. This is in line with the cryptocurrency issuance schedule and the peculiarities of the Karlsencoin tokenomics.

Reduced reward in KASPA (KAS)

The reward in the Kaspa network has been reduced from 97.99 KAS to 92.49 KAS, which is also in line with the coin’s issuance schedule. Representatives from the 2Miners team recommend making changes to your own operating strategies.

Cryptocurrency miner in a market crash

All the above changes are already taken into account in the 2CryptoCalc calculator.

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