This is the digital age, an era of everything electronic. The advent of the internet has revolutionized the entire online community. It has not only brought about a radical change in the thinking process but also changed the way a business or other transactions are conducted.
Money or any other form of currency is the basis of any transaction. This money has become digital in the literal sense now. And when it comes to banking with digital money or confirming transactions, there are miners who are united in the mining pools that offer dedicated service to the millions of people using cryptocurrency. Through the medium of this article, we shall review one such mining pool called 2miners and gain more insight.
In order to understand the efficiency and effectiveness of 2miners we first need to understand mining pools and how they function. So let us try to grasp this knowledge in brief. This knowledge will help you realize why 2Miners is preferred over other mining pools.
Who Are Miners?
Ideally, a bank or a third party maintains public accounts, balances the ledgers of its customers and provides the service of transferring money. But in case of crypto’s, there are no third parties to manage the ledgers. The miners themselves maintain the database of all the negotiations that take place on the cryptocurrency network. So any person who has downloaded a copy of all the transactions occurring and who is able to make some calculations in this crypto network can become a miner.
What Do Miners Do?
The miners run an algorithm that verifies all the transactions on the cryptocurrency network. In short, they tend to share or go Dutch on their hash power. For their efforts, the miners get fixed rewards in the form of cryptocurrency and this further generates new currency.
What Are Mining Pools?
As is clear from above a mining pool consists of multiple miners who pool their resources for efficient mining of cryptocurrency. The computational power of cryptocurrency is directly proportional to its mining difficulty. Therefore, the more difficulty in mining the more complex will be its computation. As such it becomes a very expensive task for a solo miner. In order to reign in the higher energy costs and the need for specialized equipment, the miners form collectives or pools.
Single mining pools mine for just one cryptocurrency while multipools allow a miner to continuously switch between the cryptocurrencies. This switching or changing is dependent on the profitability of the coin at any given time. The most profitable currency can be identified by taking into account the complexity of mining the coin, block generation time, exchange rate amongst the coins and the hashrate. Multipools are most useful when the user is unsure of which coin is good to mine at any given point in time.
2Miners – An Intro
2Miners is a cryptocurrency mining pool specifically for Dagger Hashimoto and Equihash coins.
It has two basic plans. Pool fee is 1% and the solo comes with a fee of 1.5%. Although their fee is not the lowest in the market, their pools are extremely reliable.
As Mikhail Korolev, CEO 2Miners said, “Our pool fee is not the lowest on the market – 1% (and 1.5% for SOLO). However, we really have high-quality pools. Do not trust the pools which tell you about 0% pool fees! They will find a way to cheat on you.”
2Miners Pool Features
The pool features of 2Miners include:
Regular payouts made at every 2 hours.
Rewarding the complete block and including the transaction fees as well.
Fair reward systems in both PPLNS and SOLO.
Slack support chat and Telegram support chat.
Telegram bot providing rig monitoring and that too free of charge for any amount of rigs.
A dedicated Nicehash port that is fully compatible with Nicehash stratum.
1% pool fee and 1.5% solo fee.
Pools in 2Miners
The various options available in 2Miners pool wise are D-Hashimoto PPLNS (Ethereum, Ethereum Classic, Expanse, Musicoin, Pirl, Metaverse ETP and Ellaism), D-Hashimoto Solo (Ethereum, Ethereum Classic, Expanse, Musicoin, Pirl, Whalecoin, Metaverse ETP, DubaiCoin and Ellaism), Equihash PPLNS (Zcash, Zclassic, Zencash, Bitcoin Gold and Hush) and Equihash Solo (Zcash, Zclassic, Zencash, Bitcoin Gold and Hush).
2Miners Pool Advantages
The reasons behind the ever increasing popularity of 2Miners lie in its easy to use mining portal. Apart from that, it provides various other advantages to its users. These include:
Dedicated servers in Europe, US and Asia that also act as a data center.
DDOS protection to mitigate the risk of losing revenues, customers, and trustworthiness.
Rig monitoring bot that sends the user statistics and other notifications when a worker goes offline.
Notification bots for all each pool in every new block.
Recommended by Nicehash.
Detailed statistics supplemented with multiple graphs for every miner. This includes round share in %, reward if pool finds a block right now, current as well as average hash rate, offline workers, 1 hour / 12 hours / 24 hours / 7 days / 1-month rewards etc..
Solo pools for really big miners.
Why is 2Miners Better
2Miners provides its users a relatively stable income because you can use it on a regular basis. It also helps lower the mining costs by collaborating efforts which offers an opportunity to generate higher revenue. But the list does not end here. The reward structure in 2Miners is favorable to its users because it’s not just a random system, it’s a structured system. Finally, it functions smoothly and does not suffer from frequent interruptions.
Explaining Cryptocurrency now feels like trying to explain the web in 1994. Cryptocurrency is here to stay. And it is surely but steadily going to change the digital world as we know today. Before deciding to engage with any mining pool it is really important to know what it exactly does. A deep knowledge of its functioning will help you make a wise decision. The safest might not always be the best and the same stands true for the cheapest. So far 2Miners delivers outstandingly on all points that count.