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PixelPlex developed a profitable, efficient, and fault-tolerant multicoin mining pool to meet a client’s needs. The solution constitutes a comprehensive service for coin mining and includes a set of web and desktop apps for managing mining processes.
Project goals
We carefully analyzed the crypto mining market and identified the pain points:
- Mining profit often does not exceed the cost of consumed electricity
- Difficulties associated with software setup lead to platform owners losing potential users
- The imperfection of monitoring systems results in equipment overheating which stops the mining process
- Since mining is a kind of competition, the race can be “lost” if there is a delay in sending shares. This might happen if a lot of equipment is located in hard-to-reach places with poor Internet connectivity
Based on the results of our analysis, we set the following goals:
- Create a reliable, profitable, and configurable mining pool with auto-switching coin/algorithm technology
- Ensure easy application launch for users with all levels of mining experience
- Provide a high level of fault tolerance
- Develop a robust monitoring system, disaster recovery plan, resilience to heavy loads, and a scaling plan
Work done
- High-performance auto-switching mining pool with GPU & ASICs support
- Built-in mined coins arbitrage
- Proxy mining functionality, making it possible to send shares to a larger external pool if solo mining cannot be carried out
- R&D activities to introduce merged mining functionality and form a virtual computation cluster from resources primarily used for mining
- Configuration of fees, owner wallets, and all other admin functions from configuration files
- A miner’s personal account where they can view all their workers and statistics and manage payment settings
Solution
In addition to this, our mining application is:
High-performance
288PH/s hashrate, up to 2000 miners connected from various geographic locations
Highly profitable
Up to 5% extra profit due to merged mining, auto-switching, and arbitrage with crypto exchanges
Easy to set up
The installation process takes no more than 5 minutes
Failure-resistant
Uninterrupted operation thanks to smart load balancing and well-thought-out disaster recovery plan
The main purpose of the mining pool is to distribute the task of finding the hash of the block among the pool’s participants by summing up their computing power. The pool then calculates the contribution of each miner and distributes coins according to their contribution.
Details
Mining pool for users of any level
We combined the necessary tools for all target groups in one product – professionals and mining beginners can work as one.
Beginners can start “smart” mining in just one click with max profit settings, whereas professional miners receive a wide range of instruments for mid- and top-size mining farms.
None of the users needs to constantly monitor cryptocurrency movements and reconfigure mining equipment, since ProPool does this automatically.
Rewarding system for miners
There are three reward types implemented in our mining pool: Proportional, PPS, and PPLNS. For each coin, a reward scheme plus payout intervals and limits and pool fees are selected by the pool. Pool fees are paid to individual wallets.
Initially, the pool aggregates everything at one address. From there, ProPool distributes rewards to miners’ wallets and to the fee-paying pool owners specified in the list of wallets.
Autoconversion to BTC and withdrawal
All mined coins are automatically exchanged for Bitcoins or a stablecoin (USDT/USDC) at the best rates among several cryptocurrency exchanges thanks to the built-in arbitrage module. Conversion starts as soon as your coin balance is confirmed by the coin’s network.
Users can withdraw mined coins from their account page to their wallets. Withdrawal is available for balances that are confirmed by the coin’s network and have passed the coin conversion.
Automated crypto trading on ProPool
This feature is implemented through PixelPlex’s crypto arbitrage solution.
The solution allows the user to capitalize on cryptocurrency price discrepancies on the largest exchanges.
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Research & Development
In order to offer miners more opportunities to make bigger profits, and to help the client increase the attractiveness of the application, our team also carried out R&D.
Based on its results, we formed a virtual computation cluster from the resources primarily used for mining, analyzed the possibility of implementing merged mining functionality, and introduced rendering and machine learning activities.
Merged mining
ProPool supports the classic LTC/DOGE merged mining approach, which means both cryptocoins can be mined simultaneously without affecting in any way the overall efficiency of the mining pool.
The process goes as follows:
- An LTC pool is set up on the side of ProPool
- The pool communicates with Doge daemon, receiving aux info via getauxblock
- Miners mine LTC, but extra data is added to the information they produce. Getdata returns info considered valid for LTC mining, that can also be used in merged mining
- When the shares arrive, the pool sends the shares with complexity matching that of the LTC network separately from those which match the DOGE network.
Rendering & ML activities
ProPool provides miners with the opportunity to increase their profits by participating in rendering and machine learning activities. The miner doesn’t need to do anything other than launch ProPool to receive their income.
It’s worth noting that ProPool only switches the miner’s equipment to the most profitable activity and does not require any manual configuration.
Computing resources can also be combined into a high computation virtual cluster, depending on the task and required computing power.
120 times higher profit
Miners can earn by joining rendering activities (other than mining itself)
80-100 times higher profit
Miners can earn by joining ML activities (other than mining itself)
How it works
- 1
The miner connects their GPU to ProPool
- 2
A computation power renting request is received through a separate service that aims to deliver a virtual cluster for machine learning or rendering activities using the ProPool miners' resources
- 3
The miner’s GPU automatically switches to various operations depending on the incoming task. It could be the actual mining process, training a neural network using a model, or high-end rendering
- 4
When the renting period ends, the equipment switches back to mining
Machine learning models that miners help to test include:
- MobileNet
- ResNet50
- VGG16
- DenseNet169
- InceptionResNetV2
Monetization mechanisms for the client
- Profit from transaction fees. The platform owner decides what percentage of the miner's transaction cost they will receive
- Once a crypto arbitrage operation has been completed, an additional fee of 15% is charged based on the difference between the official and maximum coin rates
- Extra profit from merged mining
- Formation and sublease of computing power through a temporarily created virtual cluster
Technical solutions
Technology stack
A service that helps us track errors and monitor our mining application’s performance
A log analytics tool for collecting, searching, analyzing, and visualizing application data
A software application that we use for event monitoring and alerting
An observability and data visualization platform for tracking and analyzing metrics and logs
Infrastructure
TimescaleDB and Kafka in the AWS cloud
Databases
By using these, we can avoid the extra costs of creating and maintaining databases on PixelPlex servers.
These databases support replication and quick disaster recovery.
Kubernetes
Backend
This is the gold standard for mining pools as it provides scalability, transparency, deep control of components, and smart updates.
AWS S3 & CloudFront
Frontend
These provide reduced server load and highly reliable content delivery to the user.
Architecture
Launching ProPool
How to launch ProPool for GPU miners
- 1
Download an application: Nvidia miner or AMD miner
- 2
Register and/or log in to the ProPool account through the miner
- 3
Run benchmark to analyze hardware power
- 4
Depending in the parameters and power of the hardware, the app chooses specific algotithms
- 5
Adjust coin settings and start mining
How to launch ProPool for ASIC miners
- 1
Register and/or log in to the ProPool account through the miner
- 2
Go to the ASIC admin panel
- 3
Find your ASICs IP on the local network and paste its address into the browser
- 4
Go to Miner General Configuration settings, paste stratum+tcp://dash.propool.io:3333 into Pool URL, and enter your username
- 5
Adjust coin settings and start mining
In addition, the miner can independently select and enable/disable algorithms. Our mining pool supports the following algorithms:
- SHA256
- Scrypt
- Scrypt-Jane
- Scrypt-N
- Quark
- X11
- X13
- NIST5
- Keccak
- Skein
- Groestl
Project features
- Automatic switching of mining devices to the most profitable coins
- Remote management of mining devices and configuration of the mining process
- Manual or automatic adjustment and selection of mining strategy
- Merged mining for several coins/protocols
- Two-factor authentication when logging in to account
- Built-in arbitration module to minimize losses from the high volatility of some mined coins
- Setting up automatic payouts in the selected currency
- Switching to rendering/machine learning as orders for these lines of activity appear
- Built-in statistical module, as well as extended statistical packages
- Overheating control and device temperature monitoring
- Ticketing service implemented with Zendesk
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