They are our clients, our friends, good contacts or just people we met in the crypto-community. They have new vision, they are running great projects, they are developing new services or they just want to share their story. Havas Blockchain is interviewing key people of the blockchain ecosystem.
We are today with Julien Gourlet, Founder ILIIUM, a company who launched a mining Ethereum pool, Cruxpool:
What is Cruxpool?
Cruxpool is an Ethereum mining pool made by the company ILIIUM. Mining is the process of creating blocks on a blockchain using the « proof of work » system. Proof of work requires computer power in order to encrypt and create the blocks by solving complex computational problems. Ether is the third most valuable cryptocurrency in the world behind Bitcoin and Ripple and uses the Proof of work system to reach consensus regarding which block should be integrated in the chain.
Because of the industrialisation of mining, miners has to gather together in pools in order to get around some uncertainty regarding the creation of blocks and ensure stable revenue. In other word, a pool is inescapable for a miners because it’s extremely difficult to get a block alone (depending of your hashrate); finding blocks provides revenue to miners.
Ethereum blockchain lean on a bunch of decentralized node sustained by servers operated by miners. Mining represents the backbone of the network without which most of the most well known blockchain would not exist. As for now, none of the « new » protocole put forward by teams such as EOS, TRON, IOTA has achieved the efficiency of the proof of work system.
We have created Cruxpool to help miners navigate through complex information and bugs and find useful tools allowing them to easily mine Ethereum.
What was sources of inspiration for the project?
Most of the main pool on the ethereum network were created at the beginning of Ether and did not change or offer significant change. They’re not trying to help miners but just absorb their hashrate in order to make money. We believe that there is room for innovation here and there are plenty of features that could help miners. That’s why we created Cruxpool, to help miners, gather their feedback and build the best pool for them.
We designed Cruxpool to accommodate all the miners and provide them with unique and useful features, some of them not found on the web. We try to offer as much information as miners need on their server so that they don’t have to use many different tools to monitor their servers.
For instance, we provide real time statistics, 0.01 ETH minimum payout threshold, computer hardware details and statistics, complete tutorials, 0% fees for new users and professional support. We have set up a Discord for our community in order to be reachable 24/7 and help our users overcome every issue they will face. Professional miners will also be accommodated with specific tools, contracts and guarantees such as dedicated port and servers, personal support, specific contract…
As miner, it was hard to find the information needed to mine with GPU and we quickly realize that these information was scattered all over the web on multiple website quite hard to find. So we decided to gather useful information on one website to help find solution in minimum
time and hassle. We have written complete tutorials about mining that can be found in the help section of our pool.
Finally, we have a very dense roadmap! We plan to introduce ETC in February, have new language and provide miners with more tools in order to monitor their rigs such as wide range details about workers.
How will evolve cryptocurrency mining ?
There is a lot of evolution planned around blockchain to achieve scalability and switch from the « proof of work » process such as « proof of stake » (plan for the Ethereum blockchain), masternode and lightning network. However, mining is still key for the most well known blockchain and it will remain as this at least for the forthcoming future.
Indeed, most of those new protocol are just proposition that need to be tested or are implemented on small blockchain which is not sufficient to ensure efficiency. Still, those evolution are credible and will emerge as strong contender but mining will remain part of the blockchain ecosystem. In addition, a lot of work is currently done to minimize the ecological impact of mining such as using the heat generated to heat buildings, using free cooling installation and renewable energy.