November 2024 Work Progress Report: BTC Payouts for ZEN, ZEC and CKB Updates
December 2, 2024
In November 2024, we are excited to announce important updates across several mining protocols, new Bitcoin payout options for Horizen (ZEN), and key network upgrades. The month also saw significant changes in block rewards for multiple cryptocurrencies. Here’s a detailed recap of all the updates for the month.
Bitcoin Payouts Now Available for Horizen (ZEN)
We are thrilled to introduce Bitcoin payouts for Horizen (ZEN) miners, adding to the list of cryptocurrencies on 2Miners that support this feature. Miners can now receive their earnings in Bitcoin by simply setting their BTC wallet address in the mining software. All types of BTC wallet addresses are supported, and the pool automatically detects the BTC address for smooth payouts.
Horizen (ZEN) is a privacy-focused cryptocurrency that offers a scalable blockchain platform supporting decentralized applications. With its robust infrastructure and focus on privacy and scalability, Horizen has become a significant player in the blockchain space, making this new payout feature a valuable addition for miners.
The latest update for Nervos CKB (v0.119.0) was released on October 25, 2024, introducing a new preview chain to test the upcoming hardfork. This ensures that developers and users can validate changes before they are deployed on the mainnet, enhancing the security and reliability of the network.
Bug Fixes: Addressed atomic ordering issues in multi-threading, improved script performance, and resolved transaction conflicts.
Improvements: Enhanced query performance for rich-indexer and optimized block filter operations.
Zcash
Zcash version 6.0.0 was released in preparation for Network Upgrade 6 (NU6), set to activate on November 23, 2024. This upgrade introduces a new decentralized funding model and a lockbox for future grants. Key updates include adjustments to block rewards and enhanced testnet support for miners and developers.
ZIP Updates: Implementation of ZIP 207, ZIP 214, and other consensus rules for decentralized development funding.
Recommendations for Miners: Update to version 6.0.0 or later to ensure compatibility with the NU6 upgrade.
Block Reward Reductions
November also brought block reward reductions for several cryptocurrencies in line with their respective tokenomics. Here’s a summary:
Karlsen (KLS): Reduced from 38.24 KLS to 36.15 KLS.
Zcash (ZEC): Reduced from 2.50 ZEC to 1.25 ZEC.
Kaspa (KAS): Reduced from 82.40 KAS to 77.78 KAS.
To assist miners in estimating their earnings, the 2CryptoCalc mining calculator has been updated to reflect these changes. Make sure to use it to plan your mining strategy effectively.
As always, we remain committed to supporting your mining activities. Stay updated through our X (Twitter) and Telegram miner community. Happy mining!
The 2Miners pool co-founder, businessman, miner. In 2017 started mining cryptocurrencies and built many rigs on his own. As a result, he gained lots of practical knowledge and became interested in sharing it with others.
In his articles on 2Miners, he shares useful tips that he tried and tested himself. For example, Darek gives advice on how to buy hardware components for the basic mining rig and how to connect them to each other correctly. He also explained lots of complicated terms in simple words, such as shares, mining luck, block types, and cryptocurrency wallets. After the pool was launched, he published a series of articles ‘Crypto Mythbusters’ where he explained how to protect the network against 51% attack, talked about cryptocurrency mining difficulty and difficulties of launching your own node.
October 2024 Work Progress Report: CKB and ZEPH Updates, Pyrin Problems
November 1, 2024
In October 2024, significant updates were implemented in the CKB and Zephyr protocols, enhancing their networks in preparation for future developments. Additionally, we faced unexpected challenges with the Pyrin project, leading to critical decisions about its future on our platform.
Nervos CKB Update
The latest release from Nervos CKB, version 0.119.0, was introduced on October 25, 2024. This update is pivotal as it rolls out a new preview chain, which provides a test environment for the upcoming hard fork on the Nervos network. Here are the key highlights:
New Chain for Preview: Allows developers and users to engage with the hard fork changes ahead of official deployment, enhancing transparency and readiness.
Testnet Activation: The hard fork has been activated on the testnet, requiring nodes to update to this latest version to participate and test the changes effectively.
Compatibility: Ensures compatibility across different network stages, including developments scheduled for future epochs.
Notable improvements and bug fixes in this release address multi-threading issues, script optimizations, and transaction conflict resolutions, contributing to the overall robustness of the network.
Zephyr Protocol v2.0.0 – ZSD Yield Release
Zephyr’s major update to version 2.0.0, known as the ZSD Yield Release, was rolled out to support the new ZSD Yield Mechanism. Here are the significant changes and enhancements:
ZSD Yield Mechanism: Users can now stake ZSD and receive Zephyr Yield Shares (ZYS), a new asset that represents a stake in the ZSD Yield Reserve.
Block Reward Restructuring: To support the new yield system, block rewards have been reallocated, significantly altering the distribution to favor reserve accumulation while removing the governance reward.
This update marks a substantial shift in Zephyr’s approach to value storage and distribution, aiming to enhance stability and growth within the ecosystem.
Pyrin Network Uncertainty
October brought unforeseen challenges with the Pyrin project. The developers have abruptly left the project and shut down all associated online platforms, casting significant doubt on the future of the Pyrin network. As a result:
The official Pyrin website and social media channels have been deactivated, eliminating direct sources of information and updates.
Mining continues, however, the stability and viability of PYI are now in question, and no new deposits are being accepted on exchanges.
Bitcoin payouts for PYI mining have been halted, reflecting the uncertainty surrounding the project’s continuation.
We advise miners to proceed with caution and consider mining other cryptocurrencies. Use 2CryptoCalc.com to assess the profitability of available options.
As always, we are here to support your mining endeavors and will keep you updated through our X (Twitter) and Telegram miner community on any developments. Your success in mining is important to us, and we’re committed to navigating these challenges together.
The 2Miners pool co-founder, businessman, miner. In 2017 started mining cryptocurrencies and built many rigs on his own. As a result, he gained lots of practical knowledge and became interested in sharing it with others.
In his articles on 2Miners, he shares useful tips that he tried and tested himself. For example, Darek gives advice on how to buy hardware components for the basic mining rig and how to connect them to each other correctly. He also explained lots of complicated terms in simple words, such as shares, mining luck, block types, and cryptocurrency wallets. After the pool was launched, he published a series of articles ‘Crypto Mythbusters’ where he explained how to protect the network against 51% attack, talked about cryptocurrency mining difficulty and difficulties of launching your own node.
September 2024 Work Progress Report: FIRO Delisting, Kaspa, Pyrin, Karlsen Updates
October 1, 2024
In September 2024, we undertook several important updates and changes across various cryptocurrencies we support. Notably, FIRO was delisted following a major change in their mining reward structure, and we implemented updates for Kaspa, Pyrin, and Karlsen that impacted miners on our platform.
FIRO Delisting
As of September 13, 2024, at 10:00 UTC, FIRO was officially delisted from our mining pool. This decision followed the FIRO project’s announcement to significantly reduce mining rewards by five times at block 958655, which occurred around September 16, 2024. The new reward distribution heavily favored Masternodes and markedly decreased miners’ shares, which did not align with our values of supporting the miner community. Consequently, we discontinued support for FIRO.
Kaspa Stable Mainnet Release & WASM SDK v0.15.1
Last month, Kaspa released a stable mainnet update focusing on enhancing mempool functionalities critical for adapting to fee market conditions. Significant features introduced included:
Replace-By-Fee (RBF) to allow transaction replacement in the mempool.
A fee estimation API based on real-time mempool states for more accurate fee predictions.
An updated mempool eviction policy that prioritizes transactions based on fee rate.
Additional improvements included major enhancements in the block template transaction selection algorithm and header processing performance. These upgrades made mining on Kaspa more efficient under various network conditions. Upgrading to this version was recommended to ensure stability and optimal network support.
Pyrin Network Hard Fork
Pyrin underwent a scheduled hard fork at block 27,037,930, introducing a new mining algorithm, PyrinHashV2. This change required miners to update their mining software to continue mining PYI effectively. Details on the countdown to the hard fork were available in the Pyrin Explorer.
Karlsen Update and Hard Fork
Karlsen also underwent a hard fork with the introduction of a new mining algorithm, KarlsenHashV2, aimed at enhancing network security and efficiency. Following the update, several issues were addressed, including a critical bug fix for transaction rejections that affected pool operators. The latest version included several important fixes improving transaction handling and wallet functionalities, making it crucial for miners to update their software to the latest version to avoid potential issues.
Updated Mining Software
We updated our Quick Start Archive (password — 2miners) to include the latest mining software versions to support the new algorithms and enhancements introduced in Pyrin and Karlsen:
Gminer 3.44
lolMiner 1.90
Rigel 1.19.0
T-Rex 0.26.8
TeamRedMiner 0.10.21
XMRig 6.22.0
The updated mining software was essential for maintaining compatibility with the new algorithms and ensuring optimal mining performance. Downloads are always available from our GitHub repository.
As always, we supported your mining journey every step of the way. Stay tuned to our X and join our Telegram miner community for the latest updates and support.
The 2Miners pool co-founder, businessman, miner. In 2017 started mining cryptocurrencies and built many rigs on his own. As a result, he gained lots of practical knowledge and became interested in sharing it with others.
In his articles on 2Miners, he shares useful tips that he tried and tested himself. For example, Darek gives advice on how to buy hardware components for the basic mining rig and how to connect them to each other correctly. He also explained lots of complicated terms in simple words, such as shares, mining luck, block types, and cryptocurrency wallets. After the pool was launched, he published a series of articles ‘Crypto Mythbusters’ where he explained how to protect the network against 51% attack, talked about cryptocurrency mining difficulty and difficulties of launching your own node.
August 2024 Work Progress Report: ZEC New Address Type, Node Updates
September 2, 2024
This August, our updates focus on a significant shift in Zcash address protocols and essential node updates across our supported cryptocurrencies to enhance network efficiency and security. Below are the details on these developments.
We Now Support Payout to TEX Addresses
As the cryptocurrency landscape evolves, so do the requirements for transaction transparency and regulatory compliance. Recent developments have led to the introduction of ZCash TEX addresses, particularly in response to increased regulatory scrutiny. Binance and other exchanges have started requiring transactions from transparent addresses, prompting the adoption of TEX addresses that comply exclusively with these types of transactions.
ZCash TEX addresses are designed to only accept funds from Transparent Addresses, not from Shielded Addresses. This means users must first transfer funds from Shielded to Transparent Addresses before sending to a TEX address. The introduction of TEX addresses (defined in ZIP 320) aims to meet exchange requirements without completely sacrificing user privacy. The push for TEX addresses comes from increasing regulatory pressures that demand more transparency in transactions, especially from platforms like Binance that threaten to delist cryptocurrencies that do not comply.
Do ZCash TEX addresses decrease privacy? For users prioritizing privacy and already using Shielded Balances, the impact is minimal. The design of our ZCash Wallet aims to minimize privacy loss and prevent tracking through metadata, although these addresses do increase the potential for node operators to correlate transaction data.
Is ZCash still regulatory compliant with TEX addresses? While TEX addresses meet current regulatory demands without significantly compromising privacy, they represent only the beginning of potential regulatory changes that could further affect privacy. The future of ZCash may need to lean more towards decentralized exchanges and wallets, which our ZCash Wallet will continue to support.
Node Updates
Zcash (ZEC) v5.10.0
The latest Zcash update introduces support for Network Upgrade 6 (NU6) on Testnet, with a planned upgrade needed soon for Mainnet. This release also improves RPC method handling and enhances platform support by dropping outdated operating systems like Debian 10, which no longer meets our security standards. Security patches from recent vulnerabilities disclosed by the Bitcoin Core security team have also been implemented to enhance node safety.
Horizen (ZEN) v5.0.4
This update extends the deprecation height of previous versions, ensuring a smoother transition for users to newer, more secure versions of the node software. It’s critical for all nodes running on Mainnet to update before the set deprecation block height to maintain network integrity and security.
Ergo 5.0.22
Ergo’s update enhances query functionalities for blockchain transactions and fixes duplicates in transaction results, improving the reliability and accuracy of data retrieval within the network.
Pyrin Unsuccessful Update
The Pyrin network aimed to undergo a significant update with version 0.14.2.3, which was designed to enhance network performance by increasing the block speed from 1 block per second to 10 blocks per second. This ambitious update was intended to improve network throughput and scalability, supporting a higher volume of transactions and reducing latency for Pyrin users.
Unfortunately, the update did not proceed as planned. Despite all mining pools updating to the new version, the network faced severe stability issues. The rapid increase in block speed led to multiple chain splits, indicating a lack of consensus among the nodes. This resulted in repeated disagreements on the valid chain, which fragmented the network and caused significant disruptions for users and miners alike.
The Pyrin development team responded by reverting some of the newly created blocks to stabilize the blockchain. They rolled back to the previous stable version of the node software (version 0.14.5), which maintains the block speed at 1 block per second. This action was necessary to restore the operational stability to the Pyrin network.
Currently, the network is operating fine and the mining is going on. Miners should remain alert for announcements regarding new updates that will incorporate lessons learned from this experience.
Karlsen and KASPA Reward Reduction
Karlsen (KLS) Reward Reduction
Following the Karlsencoin Tokenomics, the block reward for Karlsen has been reduced from 41.60 KLS to 40.45 KLS as part of our emission schedule.
KASPA (KAS) Reward Reduction
In line with the KASPA EMISSION SCHEDULE, the block reward has decreased from 97.99 KAS to 92.49 KAS. We urge miners to update their strategies accordingly.
All changes are now reflected in our 2CryptoCalc for accurate mining profitability calculations.
Stay connected with us through X and join our Telegram miner community for the latest updates and support. Your success in mining is important to us, and we’re here to support you every step of the way.
The 2Miners pool co-founder, businessman, miner. In 2017 started mining cryptocurrencies and built many rigs on his own. As a result, he gained lots of practical knowledge and became interested in sharing it with others.
In his articles on 2Miners, he shares useful tips that he tried and tested himself. For example, Darek gives advice on how to buy hardware components for the basic mining rig and how to connect them to each other correctly. He also explained lots of complicated terms in simple words, such as shares, mining luck, block types, and cryptocurrency wallets. After the pool was launched, he published a series of articles ‘Crypto Mythbusters’ where he explained how to protect the network against 51% attack, talked about cryptocurrency mining difficulty and difficulties of launching your own node.
July 2024 Work Progress Report: Kaspa and Bitcoin Cash Updates
August 1, 2024
This July, 2Miners has implemented key updates to our Kaspa and Bitcoin Cash nodes and adjusted the payout values due to significant price changes. Here’s a detailed rundown of all the developments.
Kaspa Minimum Payout Value Update
The recent impressive growth in Kaspa’s market price, which has increased five times over the past year, has forced us to reduce the minimum payout values in our KASPA pool. This change aims to facilitate more frequent and accessible payouts for our miners, aligning with Kaspa’s increased liquidity and market activity.
For KASPA (KAS) payouts: 50 KAS
For Bitcoin (BTC) payouts: 50 KAS equivalent
For Toncoin (TON) payouts: 100 KAS equivalent
Bitcoin Cash Node Update
We’ve updated our Bitcoin Cash Node to version 27.1.0, which includes several enhancements aimed at improving performance and security. This update removes the BIP70 payment protocol from the node wallet, aligning with our commitment to full node security requirements. Users needing BIP70 can continue using other popular BCH wallets like Electron-Cash and Bitcoin.com.
This release also includes performance improvements and minor modifications to some configuration and command line arguments, ensuring our network remains robust and efficient.
Block Reward Reductions
Pyrin (PYI) Reward Reduction
In line with the PYRIN EMISSION SCHEDULE, the block reward for Pyrin has been reduced from 13.21 PYI to 12.47 PYI. This adjustment reflects the ongoing tokenomics strategy to ensure the long-term viability of the Pyrin network.
Karlsen (KLS) Reward Reduction
Following the Karlsen coin Tokenomics and EMISSION SCHEDULE, the block reward for Karlsen has decreased from 42.78 KLS to 41.60 KLS. These changes are crucial for maintaining economic balance within the network.
KASPA (KAS) Reward Reduction
The KASPA EMISSION SCHEDULE mandated a reduction in the block reward from 103.82 KAS to 97.99 KAS. This update is part of scheduled adjustments to control inflation and encourage healthy network growth.
All reward changes have been updated in our mining calculator at 2CryptoCalc to assist miners in recalibrating their mining strategies accordingly.
Stay connected with us through X and join our Telegram miner community for the latest updates and support.
Your success in mining is important to us, and we’re here to support you every step of the way.
The 2Miners pool co-founder, businessman, miner. In 2017 started mining cryptocurrencies and built many rigs on his own. As a result, he gained lots of practical knowledge and became interested in sharing it with others.
In his articles on 2Miners, he shares useful tips that he tried and tested himself. For example, Darek gives advice on how to buy hardware components for the basic mining rig and how to connect them to each other correctly. He also explained lots of complicated terms in simple words, such as shares, mining luck, block types, and cryptocurrency wallets. After the pool was launched, he published a series of articles ‘Crypto Mythbusters’ where he explained how to protect the network against 51% attack, talked about cryptocurrency mining difficulty and difficulties of launching your own node.
June 2024 Work Progress Report: Node Updates, Monero Delisting
July 1, 2024
This June, 2Miners has continued to innovate and improve our services. We’ve updated several of our cryptocurrency nodes to enhance performance and security, and have made a significant change to our mining pool offerings. Here’s a detailed rundown of all the developments.
Node Updates
Regular updates to our nodes are essential to maintain security, improve efficiency, and incorporate the latest improvements from each cryptocurrency’s development team. These updates help ensure that our mining operations run smoothly and that our miners enjoy the best possible performance and reliability.
Zcash ZEC 5.9.1
This version of Zcash introduces significant security and usability enhancements. The addition of the z_converttex RPC method allows users to convert transparent p2pkh addresses to the ZIP 320 (TEX) format, streamlining transactions and enhancing privacy. Additionally, this update improves network security protocols by automatically disconnecting from peers that send malformed version messages and rejecting duplicate verack messages. These changes are part of ongoing efforts to enhance the robustness of the Zcash network against potential network-level attacks.
FIRO v0.14.13.3
The latest Firo release marks a critical step forward in wallet technology and transaction handling. With enhanced support for light wallets, this update facilitates better mobile interactions by allowing light wallet servers to effectively query the node for Spark state. This means that transactions are recognized more quickly, and balances are more accurately reported, improving the overall user experience. Additionally, the increase in the maximum transaction relay size from 100 kB to 250 kB is a response to community needs for higher transaction throughput, particularly for UTXO consolidation and Spark minting operations.
KAS Rusty Kaspa v0.14.1
The transition to Rusty Kaspa represents a major evolution in the Kaspa network’s infrastructure, aiming for improved performance and scalability. This release marks the first stable version of the Rust-based node, significantly enhancing transaction processing speed and network stability. The shift from Go to Rust also means that node maintainers will benefit from reduced disk usage due to efficient pruning of headers and transactions, faster sync times thanks to optimized data processing, and a more robust RPC software stack for enhanced interaction with the network.
Zephyr v1.2.0
Zephyr’s latest update introduces tools designed to streamline development workflows, such as the new west grep command. This feature allows developers to use git grep, ripgrep, or standard grep to search through their repositories in the west workspace, enhancing code management and bug tracking capabilities. Additionally, the update improves the manifest file format by including a description field, increasing the utility and readability of project metadata.
Monero Delisting
As of June 10th, we have officially delisted Monero (XMR) from the 2Miners pool.
For miners interested in leveraging their CPUs for profitable mining, we recommend transitioning to Zephyr (ZEPH), which utilizes the same RandomX algorithm as Monero.
We encourage miners to visit 2CryptoCalc for the latest calculations and to adjust their setups accordingly. It has been successfully updated and it represents the current mining profitability for your hardware.
KASPA (KAS) Reward Reduction
The block reward for KASPA has been reduced from 110.00 KAS to 103.82 KAS in accordance with the emission schedule.
Karlsen (KLS) Reward Reduction
Following the Karlsen coin emission schedule, the block reward for Karlsen has decreased from 44 KLS to 42.78 KLS.
Pyrin (PYI) Reward Reduction
The reward reduction for Pyrin has brought the block reward down from 14 PYI to 13.21 PYI.
The 2Miners pool co-founder, businessman, miner. In 2017 started mining cryptocurrencies and built many rigs on his own. As a result, he gained lots of practical knowledge and became interested in sharing it with others.
In his articles on 2Miners, he shares useful tips that he tried and tested himself. For example, Darek gives advice on how to buy hardware components for the basic mining rig and how to connect them to each other correctly. He also explained lots of complicated terms in simple words, such as shares, mining luck, block types, and cryptocurrency wallets. After the pool was launched, he published a series of articles ‘Crypto Mythbusters’ where he explained how to protect the network against 51% attack, talked about cryptocurrency mining difficulty and difficulties of launching your own node.
May 2024 Work Progress Report: Ton Payouts, New Coin – Zephyr
June 1, 2024
This month we continued to innovate and expand our services to meet and exceed the expectations of our community. We introduced the new TON payout option for many coins and implemented the new cryptocurrency – ZEPH.
New Payment Options
We’re thrilled to announce the addition of Bitcoin payment support for EthereumPOW (ETHW) and Neurai (XNA). Miners can now receive their rewards in Bitcoin by simply entering their Bitcoin wallet address. This simplifies the process and enhances flexibility in how you receive your mining rewards.
We are pleased to announce the introduction of Toncoin (TON) payouts at 2Miners. This new payment option is available for various cryptocurrencies including Ergo (ERG), Clore.ai (CLORE), Ravencoin (RVN), Ethereum Classic (ETC), Kaspa (KAS), EthereumPOW (ETHW), and Neurai (XNA). Miners can now easily receive their rewards in TON by providing a TON wallet address, simplifying the payout process and offering more flexibility in how rewards are received.
Toncoin (TON) is the native cryptocurrency of The Open Network (TON), a dynamic and evolving blockchain platform that continues to thrive with a rich ecosystem of applications, even after the original development team transitioned the project. Opting for TON payouts allows miners to engage directly with this vibrant network, potentially enhancing the value of their mining efforts as the TON ecosystem grows.
Significant changes have occurred with block rewards for several cryptocurrencies this month:
Ethereum Classic (ETC): The block reward has been reduced from 2.56 ETC to 2.048 ETC.
Pyrin (PYI): The block reward has decreased from 17 PYI to 14 PYI.
KASPA (KAS): The block reward has decreased from 116.54 KAS to 110.00 KAS.
Karlsen (KLS): The block reward has decreased from 50 KLS to 44 KLS.
We have updated our mining calculator at 2CryptoCalc.com to reflect these changes. Miners should note these new rewards and adjust their mining strategies accordingly.
As always, we are committed to keeping our technology at the forefront of blockchain advancements. Follow us on X (Twitter) and join our Telegram miner community for the latest updates and support.
Your success in mining is important to us, and we’re here to support you every step of the way.
The 2Miners pool co-founder, businessman, miner. In 2017 started mining cryptocurrencies and built many rigs on his own. As a result, he gained lots of practical knowledge and became interested in sharing it with others.
In his articles on 2Miners, he shares useful tips that he tried and tested himself. For example, Darek gives advice on how to buy hardware components for the basic mining rig and how to connect them to each other correctly. He also explained lots of complicated terms in simple words, such as shares, mining luck, block types, and cryptocurrency wallets. After the pool was launched, he published a series of articles ‘Crypto Mythbusters’ where he explained how to protect the network against 51% attack, talked about cryptocurrency mining difficulty and difficulties of launching your own node.
Three Best Wallets for Toncoin (TON) and How to Earn TON on 2Miners Pool
May 22, 2024
In April 2024, the popular cryptocurrency Cardano ADA dropped out of the top ten largest projects by market capitalization. It was replaced by Toncoin (TON), the native asset of the PoS network The Open Network, or simply TON. This project supports smart contracts and has the ambitious goal of uniting popular blockchains to create a next-generation global network. Today, we will get acquainted with TON itself and wallets for Toncoin.
What is the TON Cryptocurrency
TON (Telegram Open Network) is a blockchain developed by the creators of Telegram that supports smart contracts. The network is highly scalable, with corresponding speed and low fees, making it an attractive choice in the current environment of less efficient chains. Just a month ago, the average cost of a single Bitcoin transaction reached a historical high of $127.
Initially, TON was developed directly by the Telegram messenger team, who also conducted token sale rounds for the project in early 2018. Eventually, the Securities and Exchange Commission (SEC) intervened, calling the project's token sales transactions with unregistered securities.
At that time, the token was planned to be named Gram, and US citizens participated in the deals. This displeased the SEC, which opposed the pre-sales of tokens amounting to $1.7 billion. As a result, the Telegram team stepped back from the project, paid a fine of $18.5 million, and returned the raised investments. The development of TON on a decentralized basis was then taken over by the community.
The creators of Telegram Open Network emphasize the poor connection between modern blockchains such as Bitcoin, Ethereum, and BNB Chain. Although these networks offer good security and user privacy, their speed often leaves much to be desired.
Therefore, the open-source community is working on creating a next-generation network in the form of TON, which was developed as a blockchain for blockchains. This means that Telegram Open Network can scale to increasingly attract new users, conduct transactions, and unite various individual blockchains.
Through TON, a smart contract in one network will be able to exchange data with applications in other blockchains, as well as access files and websites. Project representatives call this approach the unification of the blockchain world with the internet.
Here is a corresponding video describing the features of The Open Network. In general, the project ecosystem consists of the TON blockchain, its virtual machine, payment platform, TON DNS, storage, and TON sites.
At the core of this is the native cryptocurrency Toncoin (TON). As noted on the project’s website, Toncoin will become the future of the currency world and is used for conducting operations in The Open Network, interacting with games and NFTs based on this blockchain, and other platforms, a full list of which is available here.
The Exchange Rate of TON Cryptocurrency
Today, 3.474 billion TON are in circulation, while the maximum supply of the cryptocurrency is 5.106 billion coins. The annual inflation rate is 0.6 percent, which is relatively low compared to other popular cryptocurrencies.
The TON exchange rate is $6.65, and the cryptocurrency’s market capitalization is $22.9 billion. This places Toncoin in the tenth position in the overall cryptocurrency market capitalization ranking.
Over the past year, the price of Toncoin has increased by 251 percent. This is better than the respective results of Bitcoin and Ethereum, at 162 and 103 percent, but less than Solana’s 801 percent jump for the year.
The argument for further growth of the cryptocurrency is that the current market growth phase will be the first full-fledged bull run for Toncoin, and investors usually respond positively to new serious projects.
Moreover, The Open Network represents a first-level blockchain at the core of an entire ecosystem of working applications, making it a specific project that has already found application in the real world.
Where to Buy Toncoin (TON)
Toncoin (TON) is available on popular platforms such as OKX, Bybit, Gate.io, and KuCoin. Here is the corresponding ranking of platforms based on trading results over the past 24 hours.
The cryptocurrency is not traded on leading market platforms like Binance. Therefore, the listing factor remains for a positive reaction to Toncoin in the future.
Best Wallets for Toncoin (TON)
There are many wallets available for interacting with Toncoin, each with its own features. Some are centralized and focused on convenience and ease of use, while others provide full control over the cryptocurrency.
A complete list of options is available on this page. We have selected and tested three applications designed for different categories of users: a basic option, a more advanced wallet, and a solution for long-term storage of digital assets.
Basic Option — TON Wallet in Telegram
Toncoin can be used directly in the Telegram messenger. To do this, simply search for @wallet and activate the wallet using the “Start” button. The wallet interface will open directly in the application.
The wallet allows you to send and receive coins, exchange tokens, and even conduct operations on P2P platforms, buying and selling crypto for fiat.
The basic Wallet in Telegram is a centralized solution. This is indicated by the fact that this wallet does not show the seed phrase for managing crypto assets with another program. Essentially, it is an exchange that allows you to conduct operations upon request and provides access to coins for the relevant profile in the messenger.
For additional convenience, access to the wallet can be secured with a password and Face ID. In case of a forgotten password, it can be recovered via email.
You can send cryptocurrency to both a Telegram user and any external wallet within the blockchain. It is important to note that the recipient of the transfer in the messenger does not need to activate the wallet for this. They can do this and gain access to the coins later at any time. We discovered an archived transaction from December 2023 only in May.
The cost of withdrawing Toncoin to an external wallet is quite high and amounted to 0.05 TON or 32 cents. It takes several minutes to confirm the transaction.
Overall, the situation is similar to what happens on any centralized exchange.
Tonkeeper is a non-custodial wallet, meaning the user controls what happens with the coins. This is indicated by the option to import an address when the program is first launched.
To start using Tonkeeper, simply create a password that will be used to confirm transactions. You can import a seed phrase later, which will also require the password.
The application allows you to stake TON either as a full validator with 10,000 Toncoin or as a small investor with just one coin. In practice, you need at least 2.2 TON in your balance to stake.
The last tab in Tonkeeper contains available applications. For example, there is Tokenstore for purchasing game cards with TON and TonMobile, which allows you to buy an eSIM with the same digital asset.
For convenience, transactions can be confirmed using Face ID. The interface is generally clear and clean, and the interaction logic is similar to other modern wallets like Phantom, where the right tab is also intended for Web3 applications.
The Most Secure Option — MyTonWallet with Ledger hardware wallet
For reliable long-term storage of coins, familiar hardware wallets exist. In the case of Ledger devices, they feature a separate security chip that is isolated from the internet and signs each transaction offline.
This means it cannot be influenced by the internet. Since Ledger hardware wallets’ screens are also not connected to the internet, users will see the real amounts and addresses of the wallets where crypto will be sent before transactions are made. If a smartphone or PC is affected by a virus and tries to stealthily replace the recipient’s address, the hardware wallet will still show the real data. The user can then notice the substitution and prevent the loss of funds.
TON can also be stored using Ledger devices. This is done without native cryptocurrency support, so it is not possible to create a corresponding wallet in Ledger Live. Instead, we use a combination of the TON application on the hardware wallet and the MyTonWallet program.
For variety, we used MyTonWallet as a browser extension for Chrome. However, this is not the only option for interacting with hardware wallets and TON. For example, the previous wallet, Tonkeeper, also supports Ledger devices both as an application and as a separate web program.
Connecting a Ledger device can be done when MyTonWallet is first launched. The corresponding button is located at the bottom right.
The wallet allows receiving and sending coins, as well as staking TON in large amounts.
The program also allows interacting with various Web3 applications but does not support NFTs when using a hardware wallet.
As we have noted, hardware wallets are a reliable option for storing coins, as they require physical confirmation of each transaction using buttons. However, this does not mean that owners of such devices cannot fall victim to hackers.
First of all, the danger lies in social engineering, where users are tricked into performing an action — for example, approving interaction with a malicious contract or even just sending crypto to the address specified by a fraudster — or disclosing confidential information.
Additionally, money can be lost if the application with which the user previously interacted and to which permissions were granted is compromised.
Therefore, experts recommend storing large reserves of crypto on hardware wallets as full cold storage. This means that such wallets are used exclusively for sending and receiving coins, but not for interacting with smart contracts. Thus, the compromise of the latter will not affect the security of coins on the hardware wallet, essentially making the latter invulnerable.
For those who wish to use blockchain applications, it is better to create a separate hot wallet and keep small amounts on it. In case this address is hacked, it will not affect the safety of the main crypto reserves.
Here is the Ledger Nano X hardware wallet with the TON application running.
And here the device asks to confirm the transaction for sending all TON from the address.
If you have large reserves of coins and want to hold them long-term, it is definitely worth considering purchasing a hardware wallet. Additionally, it is advisable to use it as cold storage, meaning not approving interaction with any smart contracts.
Multicurrency Wallets
Many multicurrency wallets support TON coin nowadays. We highly recommend you the non-custodial options when only you have the access to the private keys. Always remember the gold rule of crypto “not your keys, not your coins”. You can use the Atomic Wallet which is available on both desktop and mobile, making it a versatile solution, allowing you to have your TON Wallet with you anywhere you are.
All you need to do to start using Atomic Wallet is to create a wallet. You will be given your 12-word phrase which you can use to restore or import your funds into any other wallet. Then you set up a password that you can use to access your wallet and to confirm transactions.
How to Mine TON in 2024
Anyone with a graphics card can earn Toncoin (TON). This is facilitated by a new system of automatic conversion of rewards to TON on the 2Miners pool.
The logic is as follows: you set up mining of cryptocurrencies Ergo (ERG), Clore.ai (CLORE), Ravencoin (RVN), Ethereum Classic (ETC), Kaspa (KAS), EthereumPOW (ETHW), or Neurai (XNA), specifying a TON network address in the reward address field. The accumulated reward is then automatically converted to Toncoin and sent to the specified wallet.
Let’s say you have an Nvidia graphics card and want to accumulate TON in anticipation of further growth in the coin market. To do this, choose one of the listed coins — for example, Ravencoin — and go to the corresponding help page of the 2Miners pool.
For Nvidia graphics cards, it is recommended to use Gminer or T-Rex miners, which are available in this archive with the password “2miners”.
Download the application and check the basic settings of the bat file. For Gminer, they look like this.
Thus, to receive TON, simply specify the corresponding format address, such as UQDBrSEOIq5X78ghOTQIn6QzjXYrcqPvxpqavMIYC6j_rqBl, in place of the wallet address.
After starting mining, all that remains is to wait for the payouts. Additionally, you can check the 2CryptoCalc calculator page, which will help you choose more profitable coins from the list for your equipment.
Join our mining community on Telegram. There we discuss cryptocurrency mining, not staking and other topics.
Miner since 2017, the 2Miners pool co-founder. Became interested in cryptocurrencies at the dawn of the latest bull run and bought his first graphics cards. After having built and set up a few mining rigs, he realized that existing mining pools didn’t satisfy him – that’s how the idea of creating the 2Miners pool was born.
John published a series of articles about the basics of cryptocurrency mining. He gave valuable tips on how to buy ASICs and GPUs from abroad and then shared their mining performance. On the website, you can find early articles about cryptocurrency mining, blockchain in general and mining pool operation principles. The readers gave positive feedback on John’s practical guides, such as building an Ethereum mining rig and Nvidia 1080ti overclocking.
How to Mine Zephyr ZEPH: Settings and Profitability of Mining a Privacy-Focused Cryptocurrency
May 16, 2024
In February, the cryptocurrency exchange Binance delisted the Monero XMR cryptocurrency. The news was not pleasant, but given the trading platform’s issues with the U.S. Department of Justice and the prison sentence for Changpeng Zhao, this was expected. Fortunately, there are plenty of new projects focused on privacy, and some of them use technologies from Monero. One of these projects is Zephyr (ZEPH).
What is Zephyr ZEPH Cryptocurrency
As noted on the official website, Zephyr is an overcollateralized stablecoin project that is also untraceable. According to the developers, it is the first confidential stablecoin system with appropriate reserves to guarantee the stability of the corresponding token’s rate.
The project's foundation is a combination of the Djed stablecoin protocol from developers Emurgo, IOHK, and Ergo Foundation, and privacy features from the Monero network. These include hiding the recipient's address and transaction amount. As noted by the developers, this makes the evolution towards true "digital cash" much more tangible.
The aforementioned Djed stablecoin protocol uses three tokens — base coins, stablecoins, and reserve coins. Here is their detailed description:
Zephyr (ZEPH) — the cryptocurrency at the core of the Zephyr protocol, functioning as the base coin and reserve asset of the decentralized protocol based on Djed;
Zephyr Stable Dollar (ZSD) — an overcollateralized confidential stablecoin of the Zephyr protocol. Its rate is pegged to the dollar, while the stability of its value is ensured by ZEPH reserves;
Zephyr Reserve Share (ZRS) — a share in the protocol’s reserves, representing a stake in the financial health and future success of the entire project.
Reserve providers contribute their ZEPH to the project’s reserves and receive ZRS in return, reflecting the corresponding share in the overall capital. The emission of the ZSD stablecoin occurs when users contribute an equivalent amount of ZEPH to the reserves while maintaining a minimum reserve ratio, usually at 400 percent.
In practice, this ratio often exceeds 700 percent. This means that the stablecoin should maintain its stability and dollar peg even under conditions of extreme market volatility and trader sales.
Here are the statistics for ZEPH coins in reserves and ZSD and ZRS tokens in circulation.
Zephyr ZEPH Exchange Rate
Today, ZEPH is valued at $7.24, with a project market capitalization of $28 million.
The peak value of the asset at $52.31 was reached on November 23, 2023. Accordingly, compared to that mark, the current rate is 86 percent behind.
However, again, the project is relatively new and has not yet gone through a full bull run. Therefore, making assumptions about the further behavior of ZEPH is simply too early.
Where to Buy Zephyr ZEPH Cryptocurrency
Zephyr ZEPH is traded on several popular cryptocurrency exchanges. These are our familiar MEXC, XT-com, CoinEx, Xeggex, TradeOgre, and Nonkyc. Here is the distribution of platforms by trading volume.
Note that some trading platforms have not only low volumes but also poor market depth. The latter indicates the size of the deal that will change the base asset's price by 2 percent in either direction.
For example, buying ZEPH for 11 USDT on the XT-com platform will increase the coin's rate on the exchange by 2 percent, while a similar decrease on Nonkyc will occur after selling cryptocurrency for $23. Considering this, it is better to conduct transactions with your coins — whether it is buying crypto as a long-term investment or selling mining rewards — on platforms with strong liquidity. In this case, it is the MEXC exchange, which will allow you to conduct transactions on better terms and without sharp rate changes.
The project’s website shows various indicators of its health. As can be seen, over the past three months, the number of ZEPH in reserves has been regularly increasing.
This means that the stability of the ZSD stablecoin is also improving.
The Best Wallets for Zephyr Cryptocurrency
The Zephyr developers suggest using the web wallet at this link. To set it up, you need to create a wallet name, enter a password, and save the wallet file.
Then, write down the seed phrase and confirm it in full. After completing these steps, the wallet interface will open — it is simple and easy to use.
You can also use the official wallet at this link on Github.
Traditionally, for accumulating ZEPH and receiving mining rewards, cryptocurrency exchanges are suitable. However, on lesser-known platforms, it is better not to store large amounts for additional security.
Profitability of ZEPH Cryptocurrency Mining
The Zephyr network uses the RandomX mining algorithm, which is also used in Monero. Moreover, the Zephyr hashrate is quite comparable to that of Monero. This means that although ZEPH is a relatively unknown cryptocurrency, it is mined on par with XMR, which remains one of the pioneers in the digital asset industry.
You can mine ZEPH using processors and graphics cards, and you can track the situation with blocks and transactions on the blockchain explorer.
ZEPH is in the second half of the profitability of cryptocurrencies presented in the 2CryptoCalc calculator. For example, here is the situation with eight Nvidia GeForce RTX 4070 graphics cards.
This is logical since Zephyr is primarily intended for CPU mining. So to calculate the current profitability, enter your hashrate on this page.
Do not forget that the 2CryptoCalc calculator does not take into account electricity costs, the rates for which are different for everyone. Therefore, when calculating profitability, this must be considered.
Setting Up Zephyr ZEPH Mining
To mine Zephyr ZEPH on CPUs and GPUs, you should use the XMRig miner. It is available for download in this archive, and the password to run it — 2miners — with no spaces, capital letters, or periods.
Here are the settings for mining ZEPH.
xmrig.exe --coin=ZEPH -o zeph.2miners.com:2222 -u YOUR_WALLET_ADDRESS.RIG_ID -p x
pause
If you have any questions, answers are available on this help page.
Solo Mining Zephyr ZEPH
Mining Zephyr ZEPH solo is suitable for experienced miners whose equipment allows them to mine at least 2-3 blocks per day.
How to check this? Go to this page of the 2CryptoCalc calculator, enter your hashrate, and click the green “Can I mine SOLO” button.
The specified hashrate is enough to mine 28 blocks a day, meaning this equipment is suitable for solo mining.
Setting Up Zephyr ZEPH Mining on Miningrigrentals and Nicehash
The 2Miners pool co-founder, businessman, miner. In 2017 started mining cryptocurrencies and built many rigs on his own. As a result, he gained lots of practical knowledge and became interested in sharing it with others.
In his articles on 2Miners, he shares useful tips that he tried and tested himself. For example, Darek gives advice on how to buy hardware components for the basic mining rig and how to connect them to each other correctly. He also explained lots of complicated terms in simple words, such as shares, mining luck, block types, and cryptocurrency wallets. After the pool was launched, he published a series of articles ‘Crypto Mythbusters’ where he explained how to protect the network against 51% attack, talked about cryptocurrency mining difficulty and difficulties of launching your own node.
