Best wallets for Ethereum & Ethereum Classic

Ethereum & Ethereum Classic wallets

Eric from Cruxpool Team

Eric

Cruxpool’s selection of Ethereum and Ethereum Classic wallets

It is very difficult to find a wallet that is perfectly convenient for us. Especially since the offer has become extremely large. That’s why we, at Cruxpool, have conducted our research and selected the best wallets for you.

What is a crypto wallet ?

But, back to basics, what is a wallet ? This is essential in cryptocurrency, because if you want to stock, transfer and receive coins. You must have a wallet. In the case of mining, the wallet will receive and store the payment from the mining pool. It’s like your bank account for cryptocurrency.

When you open a wallet. You will receive a wallet address. This is the equivalent of your bank account number. It uses the same process as a normal bank except that you do not enter your name or any other personal details. This wallet address will allow you to be identified when you receive or send cryptocurrency.

There are two types of wallets. There are physical wallets and dematerialized wallets. As their names suggest, one is physical taht you can hold in your hand while the other is dematerialized and is available on a computer, a smartphone, etc. There are also wallets that you can store, make or receive a transaction in only one currency, while others can contain several cryptocurrencies.

Our selection of dematerialized wallets

A dematerialized wallet offers an all-digital solution. This means that you access your account through a website, a web browser extension, a software on your computer, or an application on your smartphone. These solutions are the most common, but may be more often subject to security issues if you’re not careful enough.

My Ether Wallet

My Ether Wallet is a free and open-source online wallet. Created in 2015, by Kosala Hemachandra, MEW allows you to open an Ethereum wallet in which you can send, receive and of course stock your Ether during your mining. It is also possible to buy Ethereum directly from the site.

My Ether Wallet also exists as a mobile application, called MEWconnect. It is available on Google Play and App Store. The new version of the My Ether Wallet website (version 5) offers a redesigned, modern and intuitive interface. It is very pleasant to use or create a wallet. The same observation can be made for the MEWconnect application.

My Ether Wallet

The application serves as an account window, but also as a way to connect to the full version of your wallet on your web browser. Authentication is done through a QR Code scan. This makes your smartphone your new private key.

My Ether Wallet is also compatible with physical wallets, such as Ledger or Trezor.

PROS

  • Intuitive interface
  • Mobile application
  • MEWconnect identification
  • Hardware identification

CONS

  • No Ethereum Classic
  • No multi-coins
Cruxpool Robot

“My Ether Wallet is an interesting option thanks to their MEWconnect application and the redesign of their website.”

MyCrypto

MyCrypto is also a free and open-source online wallet. Created in 2015 by Taylor Monahan, MyCrypto lets you open an an Ethereum wallet but also an Ethereum Classic wallet where you can transfer, receive and of course stock your Ether and Ether Classic. MyCrypto also exists in software version, available on macOS, Windows and Linux. MyCrypto does not offer a mobile application.

The wallet offers a simple and intuitive interface. Creating an account is easy. You can authentify yourself with a keystore file, a mnemonic phrase, or with physical wallets, such as Ledger or Trezor.

MyCrypto

PROS

  • Intuitive interface
  • Hardware identification
  • Ethereum and Ethereum Classic

CONS

  • No mobile application
  • No other coins
Cruxpool Robot

“My Crypto is clearly a must-have in the ethereum wallet genre. Simple, effective and efficient.”

EXODUS

Exodus is a free wallet software. Available on macOS, Windows and Linux, it was created in 2015 by JP Richardson and Daniel Castagnoli. Exodus enables you to open a wallet that can store different cryptocurrencies in which you can send, receive and of course store your Ether and Ether Classic.

Exodus

Exodus

Exodus also exists as a mobile application, called Exodus. Available on Google Play and App Store. The software, as well as the application, certainly offer the best user experience in terms of interface. As soon as you launch the software or application, choose the coins you are interested in and an address will be created automatically.

On the negative side, your account is only available on the platform where you created it. You will not be able to connect your account to the software and the application.

Exodus is also compatible with the physical wallet, Trezor One & Model T.

PROS

  • Very intuitive interface
  • Mobile application
  • Hardware Identification
  • Multi-coins

CONS

  • Account available on a single platform
Cruxpool Robot

“Exodus is a powerful wallet with a very pleasant interface. It is multi-coin, which makes it a very interesting option for cryptocurrencies collectors”.

Jaxx Liberty

Jaxx Liberty is a free wallet. It is available as a Google Chrome extension, as a software version for macOS, Windows and Linux, but also as a mobile application, on Google Play Store. Created in 2016, by Decentral, a Canadian company managed by Anthony Di Ioro, Jaxx allows you to open a wallet that can store different cryptocurrencies including ETH – and ETC. You will be able to send, receive and of course store your cryptocurrencies.

Jaxx has a little bit more chaotic interface, but it is still readable and understandable. The software and application offer a news section that will allow you to have a press review of the world of cryptocurrency. Unlike Exodus, you can connect to different supports with the same account.

An important fact : Jaxx Liberty is not compatible with mining payout.

Jaxx Liberty Wallet

Jaxx Liberty

PROS

  • Accessible on many supports
  • Multi-coins

CONS

  • Not compatible with mining
  • Chaotic Interface
  • Hardware Authentication
Cruxpool Robot

“Jaxx is an interesting option because of its availability on many supports. However, if you are a miner, you must find another solution.”

Atomic Wallet

Atomic Wallet is a free wallet software, available on macOS, Windows, Linux, Debian and Fedora. It is also available as a mobile application in Google Play Store and App Store. Created by Konstantin Gladych, Atomic Wallet allows you to open a wallet that can store different crypto-currencies. You can make transactions and of course stock your Ether and Ether Classic. It is also possible to buy Ethereum and Ethereum Classic directly on the site.

Atomic Wallet offers an intuitive interface. Creating an account is easy, since you choose your coins, then an address will be generated. Like Jaxx, you can connect to multiple supports with the same account.

Atomic Wallet

PROS

  • Intuitive interface
  • Mobile application
  • Multi-coins

CONS

  • Hardware Identification
Cruxpool Robot

“The multi-coin and mobile application are the reasons why Atomic Wallet is an interesting wallet.”

Our selection of physical wallets

A physical wallet is a small object that keeps your information and accounts offline. This means that you can access to your account through your physical wallet. These solutions are the best in terms of security, but they are not free.

Ledger Nano X

The Ledger Nano X is the leading product of the French company Ledger. It is now the most advanced solution. It has an extended storage capacity, up to 100 applications. The addition of Bluetooth means that the Ledger Nano X can be mobile, thanks to the Ledger Live application. All this with maximum security.

If you want a high quality product that is mobile and can contain a large number of coins, the Ledger Nano X may be made for you. It costs 119 €.

Ledger Nano X

PROS

  • Extended storage
  • Bluetooth
  • Security

CONS

  • Price

Ledger Nano S

The Ledger Nano S is the predecessor of the Ledger Nano X. This version, sold in over a million copies, has been and still is a reference in the world of physical wallets. It has a slightly smaller storage capacity, since it can only contain 18 applications. Unlike its successor, the Ledger Nano S does not have a Bluetooth connectivity, but it is an equivalent secure solution.

If you want a device that contains a reduced number of coins and you do transactions at home, this device may be made for you. Its basic price is 99 € but with the arrival of the Ledger Nano X, it is now 59 €.

Ledger Nano S

PROS

  • Price
  • Safety

CONS

  • Reduced storage
  • No Bluetooth

Trezor Model T

The Trezor Model T is Trezor’s leading model. Featuring a touch screen, and an intuitive interface. The Trezor Model T supports a number of coins, including the Ethereum, ETH and the Ethereum Classic, ETC. However, it does not have Bluetooth connectivity, and it is required to plug it into your computer to make transactions.

If you want a high quality product with a touch screen, the Trezor Model T is eventually made for you. The price is 180 euros. If you want an accessible Trezor brand product, turn to the Trezor Model One.

Trezor Model T

PROS

  • Touch screen
  • Security

CONS

  • Price
  • No Bluetooth

Trezor One

The Trezor One is the predecessor of the Trezor Model T. It supports a number of coins, including the Ethereum, ETH and the Ethereum Classic, ETC. However, it does not have Bluetooth connectivity, and it is required to plug it into your computer to make transactions.

If you want a Trezor device with an accessible price. The Trezor One is made for you. It costs now 59 €.

Trezor One

PROS

  • Price
  • Security

CONS

  • No Bluetooth

After this article, you have enough information to choose the wallet that will suit you best. I hope you liked the article, don’t forget to share it.

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How to mine Ethereum

Quick Start Guide

Eric from Cruxpool Team

ERIC

Here's our definitive guide to mining Ethereum and Ethereum Classic on Cruxpool !

How to mine Ethereum?

Welcome to Cruxpool, an Ethereum mining pool. Our mission is to provide you with the most efficient tools to mine on the Ethereum blockchain. This quick start guide will show you where you should begin your mining experience with Cruxpool.

Blockchain, Mining & Ethereum?

If you’re here, you probably know what the blockchain is all about. But just in case, you can watch these videos to get a general idea of how it works. What you need to understand is that Cruxpool is supporting the blockchain by gathering computing power that will validate the transactions happening on the blockchain, In order to encapsulate them into blocks.

This is where you play your part, by putting in common with other miners your hashrate i.e. your computing power.

Why Should You Choose Cruxpool?

PPS is pay-per-share system. In this configuration you are not depending on the luck of finding a block to get your reward in crypyocurrencies. This means you get a more stable and predictive income. Read more here.

A very low payout threshold means that you do not have to mine multiple blocks in order to get your payment. This participates to a better stability of your revenue!

Track all the data you need, in order to be informed on your mining activity, get a comprehensive view of your estimated and expected revenues, but also to check the performance of your hardware.

Our team is dedicated to your satisfaction and remains available for any questions. If you need support, we’ll be there for you!

STEP 1

Why and how to mine Ethereum?

When you mine a block, you become part of the blockchain process of verification of transaction, and you have a role in the creation of the new blocks. When a block is found there will be a retribution for your efforts. 

This reward consists in fraction of cryptocurrencies; that depends on many factors but once the job is done those cryptos will go to your wallet, and you can exchange them right away, let them take some value for future trading purposes, buy the cool stuff you want etc. You can then create a form semi-passive income!

What do I need to start mining?

A mining rig, which is  a combination of graphic cards that are optimized for crypto-mining.

A wallet, which will be used to store your cryptocurrencies. This is where we’ll send the rewards from mining with Cruxpool.

A mining software, in order to tell your mining rig what they have to do, and where they should connect.

Cruxpool, a mining pool that will be sending to your rig the jobs required by the blockchain. The pool will then send the rewards from mining.

If you don't have a rig, you first need to buy or build one!

Lucky for you, we have solutions for both cases. We have a partnership with JustMining a company that builds and sells mining rigs directly to you. We suggest you take a look at it, you’ll probably find something suitable for your budget! 

Learn how to build your own rig from scratch

In case you are more at ease with computers, you can buy on your own the components and start building the rig with your very own hands! Here’s a quick video that sums up all steps to building your own Ethereum or Ethereum Classic mining rig.

STEP 2

Your first connection to the pool

A. With Windows

Windows cannot recognize more than 4 graphic cards connected to a computer. In case you have more than 4 graphic cards in your computer, you need to have them recognized. For this purpose, go to the BIOS of your computer and look for the setting that will increase the number of graphics cards detected by your system

1. Install drivers for your graphic cards

Do not mix AMD + Nvidia graphic cards on the same rig!

2. Increase virtual memory of the card

Click on Advanced System Settings, then on Performance Settings. A new window will open and click on Advanced. Click on Change, uncheck the Automatically manage paging file size for all drives and then tick Custom size. You will have two unlocked fields. On the initial size field, put 16,000 and on the maximum size field, put 30,000

3. Disable Windows Sleeping Mode

4. Disable Windows Update

To disable updates, type Services in the search bar or Cortana of your Windows. Once you get to this page, look for Windows Update in the list of services. When you have it, right-click and select Properties, and then set on «disabled» on the Startup type.

5. Choose and install mining software

The mining software will allow you to configure your RIG. You can choose between several software programs such as Claymore for example. 

Once its downloaded, unzip the file and start.bat then right click and Edit, a text file should open. Enter the server address and your wallet address

If you prefer, we have created a command line generator that will automatically fill up the line to enter. It’s available on our website

B. With Linux

Download Ubuntu 16.04.

Then, put the ISO on a bootable USB. After preparing the installation support, install Ubuntu on the hard disk of your RIG.

Follow the instructions, and as soon as the installation is finished, the session will automatically open with Ubuntu. Remember to remove the bootable USB

1. Disable Lock Mode and Sleep Mode

LOCK : To change these values, go to Ubuntu settings, then to Brightness & Lock tab. Then, disable Lock and uncheck “Require my password when waking from suspend.”


SLEEP: To change these values, go to Ubuntu settings and then to Power tab. Then, set “Don’t suspend” to Suspend when inactive for”.

2. install and set graphic cards drivers

SOLUTION 1: LINUX + NVIDIA ONLY

Install SSH and package updates

Open Terminal with Ctrl + Alt + T

Enter following command:

Install Nvidia Drivers

Enter following command:

Then, press Ctrl + Alt + F1, it gives you a black screen interface asking you to log in. Then type these command lines:

Replace the «XXX» with the Nvidia driver update number

Then insert this line

SOLUTION 2: LINUX + AMD ONLY

Install AMD drivers

To install the AMD drivers, download the AMD GPU-PRO driver for Linux 16.04 Then enter following command

In case the last command does not launch, you must give permissions for it to run. To do this, insert this command line :

This may take time as drivers are downloading and installing. When the installation is complete, insert this command line :

Then install the ROCm component. To do this, insert this command line :

Last, insert this command line :

3. Install Claymore on Linux (AMD or Nvidia)

In order to mine Ethereum, you need a mining software. Download Claymore. We advise you to rename the downloaded archive, in our case we have renamed it claymore. Then insert these command lines :

Then, go to the installation directory and create a startup script with the following command lines:

A new window will appear and you will set up Claymore. In this window, choose your Cruxpool server according to your location :

Europe: eu.cruxpool.com

North America: us.cruxpool.com

Asia: asia.cruxpool.com

Then, put your wallet address in place of YOUR_WALLET. As for the other features to add to the software, check them out on our dedicated page. Once you have set up Claymore, press Ctrl + X to save and confirm with (Y)es.

Then, give the file permission to execute, using this command line :

Finally, launch mining operation using this command line :

STEP 3

Monitor data with our dashboard

In order to offer the best mining experience posssible to our miners, we have implemented a monitoring dashboard.

Your dashboard is the place where you can monitor and control everything. On the main page, you’ll be able to see your global hashrate, the number of active and inactive workers (=rigs). You can also check your real time balance and the last time you got rewarded. As you can see on the image below, we also added a chart that allows you to follow your hashrate over the last 24h.

When you click on the Statistics button, you’ll get access to a more detailed view of the main dashboard. This will allow you to control and monitor stat in one glance. 

The Hashrate box displays data on the computing power generated by your rig

The shares box, shows the number of share that you submitted to the pool. If you don’t know what a share is, check our article dedicated to the shares

The workers box is about rigs that are active or inactive. This will help you control is there is a disconnected rig that needs fixes or reboot for instance.

Eventually, the balance box is a summary of all payments and income you have with our mining pool

Scrolling down on the same page, you have access to the detailed view of ou active rigs. This will help you monitoring the performance of each worker more easily.

And by clicking on the rig name or on the search icon you can get the isolated view of each rig and control how much they perform and how much income they produce!

By clicking on Earnings, you will be able to check all data concerning profitability and revenue you get from your rigs.

Here you can see you current Balance, Expected earnings, Total paid amount since you started using Cruxpool, but also the individual list of all payments done

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Trading tips for beginners

Trading Tips
For Beginners

Julien from Cruxpool Team

Julien

A few trading tips for our miners

Hey miners! As Ethereum price is a critical point for you, we decided to give some tools so that you can assess the evolution of the Ethereum price.

Basically crypto-currency are mainly influenced by technical analysis, which is a job on its own. Since the end of the 19th century, generations of traders tried to master these skills with different result. So, you won’t become a professional trader by reading this article but we can provide some information and advice that will help you avoid some trap

Let's start with the basics

First trading tips, keep in mind that the price of all crypto are closely related to Bitcoin price. An in-depth analysis of the evolution of Bitcoin price will give you some clue to anticipate the future of all the crypto market. Remember that like any market there are ups and downs, and this means that you should always be aware of the timeframe you’re analyzing (this could go from 10 years to 10 minutes).

On the other side, when it’s not about a specific period of time, analyzing specific assets can be a winning strategy. Sometimes it could happen that, for a short period of time, some crypto could be in a bearish trend (price goes down) while a specific crypto will outperform the general trend and enter in a bullish trend (price goes up)

In a nutshell, I advise you to first define a global trend and zero in to a specific period of time or assets.

 The trend was negative (to say the least) during most of 2018 but seems to turn positive since December. This is something you should pay attention to.

Printscreen of trading dashboard interface
picture of bullish and bearish market phases

Indicators you should know.

Trading tips #2 include specific tools but since there are endless useful indicators to master, you will have to choose a few depending on your strategy and mindset. Here are two indicators that I consider very handful and important to master.

First, the MACD:

Trading tips #2 include specific tools but since there are endless useful indicators to master, you will have to choose a few depending on your strategy and mindset. Here are two indicators that I consider very handful and important to master.

Moving Average Convergence Divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. […] Moving Average Convergence Divergence indicators can be interpreted in several ways, but the more common methods are crossovers, divergences, and rapid rises/falls.”

Basically, it will help you determine signals to decide when to buy or sell your cryptos based on analysis of moving average. There’s a full article on Investopedia we recommend that you read if you want to know more about MACD.

Second, the RSI

The RSI –relative strength index – is a “momentum indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset. The RSI is displayed as an oscillator (a line graph that moves between two extremes) and can have a reading from 0 to 100.”

This indicator will assess the soundness of a trend and allow you to determine overbought (above 70) or oversold (below 30) territory. It can also tell you when a trend will change or if a trend is sustainable.

With those two tools coupled with point and figure analysis, you’ll be able to identify patterns in graphics, allow you to act cleverly. All of this should prevent you from buying high and selling low, a very common mistake that every trader tries to avoid but that I see often.

chart explaining RSI indicator

A few comments on buying and selling for our miners.

My trading tip #3 is about your behaviour when it comes to cryptocurrencies. As you don’t buy crypto but produce them, you will mainly try to short the asset. Except if you’re a holder (HODLR) of course, which by the way, another thing I encourage you to be because crypto is the future!

By shorting, I mean sell the asset when indicators signal a corrective trend is on the way. A simple and clear strategy would be to stop there. However, if you want to play, you can use technical analysis to buy the asset on the bottom of a corrective trend to sell it higher. Keep in mind that it’s almost impossible to buy the asset at an all-time low and sell it at an all-time high (either on a short or long period of time).

Let’s give it a shot with a global analysis of Bitcoin price, as Bitcoin is the main asset in the crypto field.

As all of you know, we have experienced a strong corrective trend since December 2017 that seemed to have ended in December 2018. On the 15th of December, we reached a bottom at 3118 $. Since then, the trend turns positive and several resistances have been broken.

April was a very good month! The positive trend accelerated, Bitcoin jumped from 4100 $ to a five-month-high at 5627 $ on the 23th of April, the highest level since Nov 18. We are actually at a crossroads and we’re currently experiencing a so-called golden crossover, a bull cross of the 50 day and 200 day moving averages for the first time since October 2015. The crossover represents a long-term bearish-to-bullish trend change. But the crypto market is what it is, so I advise to stay careful.  

chart explaining golden corssover
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Discover our mining command generator

Discover our mining command generator

Eric from Cruxpool Team

Eric

If there’s one thing we’ve learned recently through discussions with our first customers, it’s that they want a mining pool that allows you to set up things nice and easy.

What does this mean?

At the time of this article, crypto mining literature is not dense and properly organized. You will find many articles here and there, but it’s sometimes quite difficult for newcomers to start mining cryptocurrencies. They need to go through a jungle of technical processes and manipulations in order to start their activity. What we aim to do with Cruxpool is facilitating mass adoption, and make it simpler for anybody to mine.

How to connect to a mining pool?

If you want to connect to a mining pool, you will need to go through your computer and enter a command like this inside your scripts: EthDcrMiner64.exe -epool eu.cruxpool.com:5555 -ewal xxxx -eworker xxxx -epsw x -mode 1 -etht 100 -gser 2

This will indicate to your rig at what pool it should connect, and to which wallet the coins should be transferred. If you don’t know how scripts work and how to handle this whole part, I suggest that you start by reading these resources:

How to write scripts:

Linux http://linuxcommand.org/lc3_writing_shell_scripts.php

Windows:  https://www.tutorialspoint.com/batch_script/

How to connect to a pool:

Claymore > https://www.cruxpool.com/help/how-to-mine-with-claymore/

Ethminer > with Ethminerhttps://www.cruxpool.com/help/how-to-mine-with-ethminer/

Phoenix miner> https://www.cruxpool.com/help/how-to-mine-with-phoenix-miner/

What’s the Command Generator?

This tool allows you to generate a basic command line to connect your server to Cruxpool through the main mining software. Although we have a basic configuration tutorial, we thought that this could confuse the novice miner. This command generator will create the command line for you, simply copy and paste the command line on your bash (Linux) or batch (Windows) file or directly on the terminal.

mining command generator from Cruxpool

If you want to know more about this feature and how to connect to our mining pool, please do not hesitate and leave us a comment in the section below. Or you can join our Discord here

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UPDATE! We are now compatible with NiceHash!

NiceHash Compatibilty

Eric from Cruxpool Team

Eric

UPDATE! We are now compatible with NiceHash

Attention to all Miners!

The question of decentralization is closely related to crypto currency and blockchain as it is one of the main goal of those technologies. However, at different periods of time during the last decade, this vision has been challenged by several actors such as mining hardware provider, mining pools or other entities.

NiceHash cloud mining logo

Very good news to share today since we are now fully compatible with NiceHash!

What, you don’t know what NiceHash is? Ok time for a quite tour of their services.

NiceHash is simply the largest open marketplace that is specialized in crypto mining. On this platform are connect all the people who wish to sell or rent hashing power.

For example, if you don’t have a rig for GPU mining, and you don’t feel like investing in it, you may start with renting the power of other miners. On the other side, if you have some rigs available that aren’t enough to mine by yourself, you can find a second life to your machines (hint: even a regular computer with a decent GPU can be rented)

Biggest upside to this system, is that you don’t need any technical skills, you simply log in, make your order, enter the pool’s logs and there you go.

Below, a chart that represents the whole process, you can find the original graph here

GIF NiceHash

Also, we made a quick start guide to help you configure your NiceHash compatibility with Cruxpool!

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PPS+ Vs PPLNS? Explaining the differences

PPS+ Vs PPLNS

Eric from Cruxpool Team

Eric

PPS+ Vs PPLNS Explaining how it works

We often proudly advertise our PPS+ system, and I know it’s hard to explain briefly what it’s all about so I thought I could write these lines to help you better understand all the shenanigans behind the concept of “shares”

Pay-Per-Share system

When we talk about the mining process, most people imagine that the computers are solving incredibly hard equations in order to mine a block. Truth is, a big part of it looks like a gambling game at the casino. Imagine that miners are like people around a very large table, rolling dice every second in order to find the correct combination of numbers. They need to win the game (eg. Finding the block) 

If you’ve read other articles and guides over the web, you may now have a substantial understanding of how the blockchain works and that’s a very important first step (and if not, I invite you to read this).

There are multiple mathematical implications that I will not dwell on for readability purposes, but basically, in order to add a block to the chain, miners have to find a solution to a problem submitted by the blockchain. Mining pools send the jobs (i.e. the problem to solve). Miners that will accept the task and “start rolling the dice”. Determined by their hashrate, which is the number of solutions miners are able to test per second, they will try to submit a potential solution.

This solution might be a block, because it is the correct answer to the problem, or it might not be, and then it’s what we call a share. It has the format that the answer requires, but it’s not what the blockchain will accept to form a block and integrate the transactions with it.

What is exactly a share?

When we talk about the mining process, most people imagine that the computers are solving incredibly hard equations in order to mine a block. Truth is, a big part of it looks like a gambling game at the casino. Imagine that miners are like people around a very large table, rolling dice every second in order to find the correct combination of numbers. They need to win the game (eg. Finding the block) 

If you’ve read other articles and guides over the web, you may now have a substantial understanding of how the blockchain works and that’s a very important first step (and if not, I invite you to read this).

There are multiple mathematical implications that I will not dwell on for readability purposes, but basically, in order to add a block to the chain, miners have to find a solution to a problem submitted by the blockchain. Mining pools send the jobs (i.e. the problem to solve). Miners that will accept the task and “start rolling the dice”. Determined by their hashrate, which is the number of solutions miners are able to test per second, they will try to submit a potential solution.

This solution might be a block, because it is the correct answer to the problem, or it might not be, and then it’s what we call a share. It has the format that the answer requires, but it’s not what the blockchain will accept to form a block and integrate the transactions with it.

- So, you’re telling me that share are invalid solutions, and that they’re useless?

Not so fast! You may think it’s pointless for all these rigs to generate heat day and night to produce solutions that will have no value at all! It is true that, unlike blocks, it will not generate any form of coin retribution to simply submitting share. Yet their value is in the validation that every miners were part of the solving process. The fact that the pool is able to see the shares that are submitted means that we know who’s been working hard to find the block. This is one of the core ideas of the Proof-of-Work system (PoW). In a world where only valid solutions that are block would be submitted, we could not verify who’s been participating to the “general effort”.

What is the PPS+ System?

Now that you perfectly understand the notion of share, it’s time for us to take a look at the payment system that we use on Cruxpool: The PPS+.

If you don’t know what PPS stands for, it means “Pay-Per-Share” . We basically pay you for every share that you submit. Now you know that a share might not be the solution that will mine the block,  your payment may rely on the luck of finding a block. (For instance in payment systems, such as PPLNS).

If we use again the metaphor of rolling dice, imagine that all miners are playing at the same time in order to get the right number that will get us to the block. Miners that are regrouped inside a pool are playing together. Doing so, they increase the chance of finding the right solution because they have more attempts at finding the right combination.

- I just don't quite get it ...

For instance, take a pool with 10 miners and another pool with 1000 miners. Let’s say for the sake of understanding that each miner can “roll the dice” once every second.

Within 15 seconds, Pool A would have rolled the dice 10*15=150 times.

Pool B would have rolled the dice 1000*15= 15000 times.

Pool A could be lucky and find the solution before the others but Pool B has statistically more attempts, ergo more chances, of finding the right number, finding the block and get the reward.

Since the block time is, in an Ethereum environment, about 15 seconds the pool with 1000 miners will have much more opportunities to roll the dice compared to the first one.

- Does this mean in a PPLNS I will never get paid?

Well it’s more complex than that. PPLNS system is somewhat a lottery system. You and your fellow miners submit your shares to the pool, and once a block is found, you’ll earn a reward up to the percentage of shares you did submit to find it.  It is not a “bad system” per se, it’s just that it made to reward loyal miners that stay together and in the same pool to execute the work rather than people who would switch every time from a pool to another one. Downside is that when it takes time to find a block (because every pool competes against each other in this game), it may have an impact on your revenue share by this lack of luck, so to speak.

Let’s go back to the PPS+ System:  Here’s a little drawing of how it works:

A set of graphics to show PPS system in ethereum blockchain

In a PPS system, you simply get paid for every share you submit, it's that simple!

What is the PPS+ System?

If you’ve read the article so far (first congrats, you’re a tough one), you understand that relying on luck could be a bit more frustrating for miners when a block can’t be found.

We have decided that we didn’t want our miners to be impacted by any form of luck. And that’s because we consider that once they submit a share, they should be rewarded for being part of the pool. A principle we have at heart is the idea of building a real community of miners, and help them getting some form of complementary income that will not depend on whether we find a block or not

Cruxpool simply took luck out of the equation.

The upside of this system is that you get a more stable payment scheme.

If you want to know more about our mining pool, please do not hesitate to go to our main website page, or join our discord and please feel free to ask any questions you want.

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Crypto mining: Start with the why?

Crypto mining: Starting with the why

Eric from Cruxpool Team

Eric

I see a lot of articles and guides here and there on the web about what cryptocurrencies to mine at what time, depending on the market cap, hashrate network and profitability. But there’s always one question that seems to be left out by everybody: Why are we even mining? Why should we all be part of the mining environment? And more importantly: Why should YOU start to mine right now? (and by preference, with Cruxpool right?)

The financial upsides of cryptocurrencies:

Making money is attainable for anybody with a decent graphic card

When you mine a block, you become part of the blockchain process of verification of transaction, and you have a role in the creation of the new blocks. Of course, you do not this out of pure sympathy and kindness, there will be a retribution for your efforts (well, mostly for your computer’s effort so to speak) and you will be granted a fraction of the reward from finding a block (in a classic PPLNS system, which is different from a PPS system like Cruxpool where you get rewarded more often)

This reward consists in fraction of cryptocurrencies; that depends on many factors will talk about in a later article. But once the job is done those cryptos will go to your wallet, and you can exchange them right away, let them take some value for future trading purposes, buy the cool stuff you want etc. It is worth something and depending the country you live in, it might also worth a LOT!

Cruxbot with mine and wagons

Buy, sell, and change money anywhere on this planet

The notion of boundary and frontier becomes blurred thanks to the use of cryptocurrencies. Sure, you can accumulate loads and loads of crypto on multiple wallets here and there. But then what? What’s the point if you are not really well-versed in the world of trading (Psst! Here’s a quick guide to help you get comfortable with trading basics), well why don’t you simply use these cryptos?

Imagine a world in which you can buy in bitcoin everything from your latte macchiato in NYC, while you buy a brand-new camera on a German website, book an all-inclusive stay in Japan over the summer. And all of this without the change and transaction fees we know.

Create a passive income with crypto mining

You’ve been reading Tim Ferriss’ 4-hour workweek and you dream of creating passive income scheme in order to help you find the money you need to travel the world or support your family?  Well good news!  Crypto mining is actually a good fit for your plan. 

In exchange of a starting investment (whether it’s a rig, an asic or via cloud mining on NiceHash for example) you get a ROI quite rapidly without having to do anything, since your computer is doing all the complex work. You simply need to monitor a bit for the performance, and expected profits: which would be less time-consuming than managing your standard dropshipping business!

A deeper and more social perspective for cryptocurrencies:

Mining crypto is about being part of the blockchain’s construction

NOTE: If you don’t know how the blockchain works, I encourage you to take a look at this video from the Centre for International Governance Innovation 

You see, I picture the blockchain as the next great revolution after the internet break in the 90’s, because it has the power to transform the way we interact with each other, make transactions, access and verify information, and this without having to place our trust with a third party we know nothing about.

Miners are at the center of this system, because they become a part of the decentralization, of the verification process and of course they are the one who share their hash power in order to create new blocks that will be added to the chain. The blockchain is tied to the mining activity. Could this mean that “the more the merrier” can be applied to this principle?

One thing is for sure, the more miners we are, the more secure the blockchain will become. This could decrease the chances for 51% attacks.

Crypto mining is a mean of supporting the idea of decentralization

Mining Cryptocurrencies is all about being part of a system that aims at more decentralization.

I might seem to be some sort of unattainable utopic ideal that we could live in a world where banks and uber-structures would not have control over our finances – especially when you live in a country where the state money is stable and strong – yet ask someone living in developing countries where their money is devaluated, consequence to a major crisis of uncontrolled inflation. They would tell you that when they need to buy something like a coffee they would be glad to have cryptocurrencies.

I am not preaching for anarchism right here but we all know that money depends on the nation and central banks, and that it is their mean to support their credibility but that also forces upon us their sovereignty. Nonetheless cryptocurrencies could be a valuable mean of reappropriation of purchasing, and stop being impacted by unwanted inflation. Of course, cryptocurrencies are not in a state of maturity at the present moment, and some major issues prevent this technology to be adopted by the greater number, for instance the question of environment should be raised in order to gain scalability without having a huge negative footprint over Earth, but crypto currencies have, without a doubt, a game-changing potential.

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Introducing Cruxpool : Our Ethereum Mining pool is live

Introducing Cruxpool

Eric from Cruxpool Team

Eric

Our Ethereum Mining pool is live. 

Today is a red-letter day, for Cruxpool is now live. Well actually we’re in our Beta phase but in any case, mining ETH is now possible and we encourage you, future miners, to give us as much feedback as possible so as we could get even better as fast as possible.
Robot and computer with cruxpool mining pool homepage

So, what is Cruxpool all about?

We are an Ethereum mining pool (at least for now we are focused on ETH but multi-coins will eventually be part of our services), which means we maintain a platform that will help miners to fuse their hashrate altogether, and mine some blocks in the Ethereum blockchain.

You may wonder why on earth would we think of creating a mining pool, when there are already people out there that are proposing the same services? Well simply because we believe that we can provide better solutions and deploy more efforts than these pools we are competing with.

We are miners first and foremost, we were there when bitcoin started, we were there when Ethereum appeared, and we have a well-established mining experience.

 After years of mining, we came to think that in order to help cryptocurrencies to go mainstream, mining pools must do at least two things:

1/Help new miners to discover crypto mining and the blockchain environment, through tutorials, how-to guides, pro tips etc. So as to get them to be more confident in their experience, and instead of keeping knowledge for ourselves, share what we know to increase the number of people using Bitcoin, Ether and other coins

2/Provide a professional, convenient and up-to-date environment that will help intermediate and expert miners to make the most of their mining rigs. This is how, for example, we came out with the idea of real-time statistics. We want our miners to be able to monitor everything about their performance.

What features does Cruxpool have compared to other ETH mining pools?

If you’re mining Ethereum somewhere else, you may ask yourself why should you try our mining pool.

First we are based on a PPS+ System, which means that you will get paid for every share your GPU rig provides. Compared to a PPLNS system in which you get the reward when a block is found, we assure a more stable revenue for you by not putting the luck factor on your shoulders. Learn more about our PPS+ system here

Second, we will have at heart to give you the best support possible when needed, via our support platforms such as our discord (not a member yet: click here), our team will be there for you.We aim at being real close to our partners in their journey into the blockchain technology. This support will also translate into loads of tutorials and how-to guides, to help our miners optimizing their experience.

This is the beginning of an adventure that we believe will be successful, so why don’t you join us and start mining right now?

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