Etherchain launches Ethereum open source mining pool

Not long ago, Ethereum, one of the most anticipated projects in virtual currency, was released. Ethereum is a milestone in the history of Bitcoin and digital currency because the project has raised more than $10 million before any project development code has been released. A year later, Ethereum finally came out and unveiled its mystery to the public, but the development of Ethereum is not completely completed and is still in progress.

Ethereum - A Work in Progress

After Ethereum was released, there was still a lot of work to do. Initially, the Ethereum client had no graphical user interface. Ethereum enthusiasts used Windows, Apple, or Linux operating systems to run Ethereum, but they still had to do a lot of compiling work and sometimes install additional software that could only be used once.

What is even more annoying to enthusiasts is that Ethereum is not perfect and bugs appear from time to time. Not long ago, the private keys of Ethereum users were compromised, but the Ethereum team carried out timely repairs and issued a repair notice a few days later. Fortunately, Ethereum users' coins did not suffer major losses. But for any high-profile project, no negative news is the best.

As expected, Ethereum tokens are traded on many exchanges. However, these exchanges have their own trading rules. For example, some exchanges will allow certain user groups to trade first before other users can trade. At the beginning, there may be some coin tossing and the price may be unstable, but it will gradually stabilize.

After the launch of Ethereum, things were relatively quiet for a while as developers were investing a lot of time and energy into further completing their user software and improving some previously announced projects. One of these projects was the Ethereum open source mining pool.

Etherchain - Release of Ethereum open source mining pool

It is important to note that the product released by Etherchain is not a full-fledged mining pool in the traditional sense. Currently, it can only perform work distribution and shared verification, and does not provide reward calculation and reward payment at the time of release. So Etherchain, like Ethereum, still has a lot of work to do, but Etherchain allows users to experiment with their project.

That is to say, it is very possible to integrate Etherchain with existing mining pool software. However, users who want to experiment with Etherchain should be aware that the project can only support 600 people at 30% single core utilization and 70MB of memory, so there are still some limitations.

Early Etherchain trials have yielded positive results, and this open source mining pool works well on both Geth and Eth clients. This mining pool is a suitable starting point for users who are just entering the Ethereum ecosystem and just starting to mine, because it is not suitable to make it too complicated at the beginning.

Ubuntu 14.04 users can find a complete installation guide on the Etherchain GitHub page. The entire installation process is very simple, and users can also create this open source mining pool in less than an hour using the Linux system. As more people become familiar with the Etherchain project, more improvements and pull requests for the Etherchain open source mining pool project will be released in the next few weeks or months.