Tuesday, 31 January 2023
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December 2022 Work Progress Report: Year-end Results.

December Work Progress Report

Cryptocurrency Node Updates

The new node software was installed to keep all the mining pools up-to-date.

Ergo Protocol Reference Client 5.0.4 has multiple code optimizations. The release details are available on GitHub.

Zcash v5.3.2 and previously v5.3.1 solved some minor issues and improved memory usage. The release details are available on GitHub.

Cortex 1.10.36 release called by the name of Lionel Messi. The release details are available on GitHub.

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Mining in 2022. Year-end Results

This was a tough year for the cryptocurrency industry and particularly crypto miners.

First, TerraUSD/LUNA, Three Arrows Capital, Celsius, and FTX collapses in 2022 led to a tremendous crypto market drop.

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Second, but no less important, the Ethereum coin switched to POS from POW. The end of the ETH mining era was the most painful event ever for the graphics card mining community. Approximately 95% of all GPU miners were mining ETH. The end of Ethereum mining resulted in a huge hashing power release. All other GPU-mined coins and algorithms immediately gained many miners and as a result, the profitability fell respectively. The newly emerged coins such as EthereumPoW didn’t help that much.

Hopefully, the mining community is strong enough and we still have more than 50K miners online. This year we removed not only ETH, which is not mined anymore, but also Expanse (EXP), Metaverse (ETP), and MimbleWimbleCoin (MWC). We have 17 coins available in 2Miners now and our developers work hard to bring you the new ones. Currently, we are working on Kaspa (KAS).

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Bitcoin payout was a great success last year as BTC payments are very convenient for the major part of the miners. This year we spread the BTC payments feature to other coins. You can now get paid in Bitcoin if you mine Ravencoin, Ergo, Ethereum Classic, and Zcash. The BTC payments for Horizen are almost ready as well. We would love to make this feature available for all the coins we have but sometimes it is just impossible to find a trustworthy crypto-exchange with the required trading pairs and trading volumes, and reliable API as well.

No matter if you trust in the upcoming crypto bull run or not, cryptocurrency mining stays and we always do our best to provide you with the best mining experience possible.

We wish you all the best in 2023!

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