While I am an active Cryptocurrency Miner, I need to keep up to date with the ever changing world of Mining. I am writing this article because something has changed in the Multi-algo mining spectrum.
ZERGPOOL
There are many sites now allowing the users to mine different algorithms. The one main site we researched was Zergpool.com. When it comes to mining most of the sites we have used pay either every 4 hours or every day. In some cases, depending on the coin, it paid every other day. This was not the case with Zergpool. Zergpool showed exchanging the coins at a very slow rate. This pool also seemed to shut down our miners. Miners went off line for an extended period of time and was not productive.
With the many sites available, we needed to research who owned it. The registrar showed a city of Scottsdale,AZ but the information listed was shady. Zergpool uses Godaddy for its hosting domain. I will leave the link to this information in the reference section.
MINING POOL MINING UNKNOWN BLOCKS
Another problem we are having is understanding mining. Peer to peer mining is just that. A block being solved is only verified by the actual protocol not a third person, however, we have discovered a mining site that is using a third party for verification of coins. This is against the protocol and why a certain third party needs to be investigated.
If you look at the mining site it already tells you it is violating the peer to peer mining protocol. Instead of having the block verified by the actual block chain network, it is verified by a COINBASE transaction.
Looking deeper into a coin you will also see a red warning that Reads: “Warning: (from bitcoind) Warning: Unknown block versions being mined! It's possible unknown rules are in effect”
In conclusion please research the site before you use it for mining. There are those players involved that are determined for them to make the most profits instead of the miner who is actually doing the work and verifying transactions.
References:
Zergpool Web Domain Info
https://www.whois.com/whois/zergpool.com
Mining pool not using block chain but using coinbase
http://sha256.p2p-spb.xyz:6339/static/
Proof The protocol is not being followed
http://sha256.p2p-spb.xyz:6339/static/classic/
