Development of a turnkey mining pool

Quality development. Ready-made infrastructure. Quick launch.

- 01

What is a mining pool and how software development takes place

A blockchain mining pool is a group of miners who pool their computing resources to solve complex mathematical equations and validate new blocks in the blockchain.

The mining process involves the use of specialized computers to solve complex cryptographic algorithms that require significant computing power. When a miner successfully solves the equation, he or she is rewarded with a certain amount of cryptocurrency, such as Bitcoin or Ethereum.

Mining pools allow individual miners to pool their resources and work together to solve equations faster, increasing the chances of receiving a reward per block. Rewards are then distributed among pool members based on their contribution to the work.

Mining pools can help reduce the volatility and uncertainty of mining rewards because participants receive more stable payments over time. However, joining a mining pool usually involves paying a fee to cover the costs of running the pool and distributing the rewards. So if you decide to set up your own mining pool, we can help you with everything from technical consulting to legal and technical support.

- 02

Technical features, modules to create your own mining pool

Load balancing

The mining pool uses load balancing techniques to distribute the computational load evenly across multiple servers, ensuring high availability and reliability.

Complexity adjustment

The mining pool adjusts the level of complexity of a computational task based on the pool's overall computational power, ensuring that the task remains complex but not too difficult.

Pool fees

The mining pool charges a small fee for the use of its services, which covers the cost of maintaining the pool and ensures the profitability of the pool operator.

API access

The mining pool provides its users with access to an API that allows them to track miners' activity and earnings in real time.

Security Measures

The mining pool uses security measures such as two-factor authentication and SSL encryption to protect miners' personal and financial information.

Mining Pool Software

The mining pool uses specialized software that manages the pool's operations, including user registration, block verification, and reward distribution.

Block Verification

The mining pool verifies every block found by miners to ensure that it meets the necessary criteria for inclusion in the blockchain.

Reward Distribution

The mining pool distributes rewards to miners based on their contribution to the pool's processing power, with payments usually made on a regular schedule.

Monitoring and Reporting

The mining pool provides real-time monitoring and reporting of the pool's activity, including statistics on the pool's hash rate, blocks found, and distribution of earnings.

- 03

How to make money with your own mining pool

Running your own mining pool can be a profitable business venture, but it requires significant investment in hardware, software and infrastructure, as well as technical knowledge of blockchain and mining.

To make money from your own mining pool, you can charge miners a fee for using your pool. This fee can be a fixed percentage of the remuneration received by the miners, or a flat fee per transaction. The fee must be set at a competitive level to attract miners to your pool.

To attract miners to your pool, you need to provide a reliable and efficient mining service with low latency and high availability. This requires a reliable server infrastructure with multiple nodes and redundancy, as well as a fast and reliable internet connection.

You will also need to monitor the performance of your pool, adjust fees and rewards as needed, and maintain a high level of security to prevent hacking and fraud.

All in all, setting up a profitable mining pool requires a significant investment of time, money, and experience, but can be a profitable business for those who are willing to put in the effort.

- 04

What functions does the mining pool perform?

Transaction collection

The mining pool collects transaction data from the network and sends it to the miners for verification and inclusion in the block.

Work allocation between miners

The mining pool assigns work to each miner in the pool, specifying the computational problem to solve and the target difficulty level.

Solution Sharing

A mining pool allows miners to exchange solutions with each other, which helps increase the pool's overall computing power and improve the chances of finding a block.

Block solution verification

The mining pool checks the solutions submitted by the miners to make sure they are correct and meet the required level of complexity.

Reward Calculation

The mining pool calculates the reward received by each miner based on the number of shares submitted and the amount of computing power provided.

Reward Distribution

The mining pool distributes rewards to miners based on their share of computing power contributed to the pool.

Monitoring and Reporting

The mining pool monitors each miner's performance and reports the pool's overall performance to the network.

Maintenance

The Mining Pool performs regular maintenance tasks, such as software and hardware upgrades, to ensure the smooth operation of the pool.
- 05

How to develop a mining pool

Creating your own mining pool requires several technical and operational steps. Below is a complete step-by-step list of the steps to create your own mining pool:

1

Blockchain selection

This decision will affect the hardware and software requirements for your mining pool.
2

Writing hardware requirements

We define the hardware requirements for your mining pool, including servers, network equipment, and mining equipment.
3

Mining Pool Software Selection

Select or develop custom software for your mining pool to manage its operation, including user registration, block validation, and reward distribution.
4

Stratum protocol implementation

Implement Stratum protocol for communication between the mining pool server and the mining equipment.
5

Load balancing

Implement load balancing techniques to distribute computational load evenly across multiple servers to ensure high availability and reliability.
6

Complexity adjustment

Implementing a mechanism to adjust the level of complexity of a computational task based on the total computational power of the pool to ensure that the task remains complex but not overly difficult.
7

Implement a payment system

Implement a payment system that distributes remuneration to miners based on the number of shares they contribute to the pool to incentivize miners to stay active and engaged.
8

Development of pool fee mechanisms

Implementing a fee structure to cover the cost of managing the pool and ensure the profitability of the pool operator.
9

API development

Need to develop and provide access to the pool API for mining so that users can track their activity and income in real time.
10

Security design and implementation

Security measures such as two-factor authentication and SSL encryption are usually implemented or developed to protect miners' personal and financial information.
11

User registration and authentication

A registration and authentication system must be provided to track mining activity and user earnings.
12

Block Verification System

Develop and implement mechanisms to verify every block found by miners to ensure that it meets the necessary criteria for inclusion in the blockchain.
13

Reward Distribution System

Implement a system to distribute rewards to miners based on their contribution to the pool's processing power, with payments typically occurring on a regular schedule.
14

Stratum extensions

Support stratum extensions that allow for additional features such as variable complexity and job matching.
15

Implementing monitoring and reporting systems

Provides real-time monitoring and reporting on pool activity, including statistics on pool hash rate, blocks found, and distribution of earnings.
16

Hardware compatibility

Support for a wide range of mining hardware, including ASICs, GPUs and CPUs.
17

Pool configurator development

Allows the pool operator to customize various parameters, such as pool commission, minimum payout threshold, and pool complexity.
18

Launching the mining pool

After completing all the above steps, you can launch the mining pool and start accepting users.
19

Promoting the Mining Pool

Promote the mining pool to attract new users and increase the pool's processing power.
- 06

Full support of your business

We carry out a full development cycle of a utility token with subsequent marketing and legal support.

Support and improvements

  • Improvement of the required functionality, UX / UI development
  • Support 24/7, according to SLA
  • Maintenance of servers and equipment
  • Information security assurance
  • Cold storage of tokens and cryptocurrencies

Legal assistance

  • Assistance in obtaining licenses
  • Assistance in opening accounts
  • Setting up bank cards and payment systems
  • Assistance in choosing a jurisdiction for the business
  • Organizing customer support service

Marketing and liquidity

  • Providing liquidity from top exchanges
  • Development and implementation of a user acquisition strategy
  • Drawing up a business plan to attract investment
  • Crypto business consulting
- 07

Our cases

A hybrid solution increased sales by 37% for a customer from Spain

Increased revenue by 28% by integrating a decentralised SaaS solution

Unique architecture for maximum payment service security

- 08

Why Choose Us?

Deployment of a complete infrastructure for a project
Possibility to test the product before purchase
Minimal implementation time with the high level of quality
Guarantees that your product will meet the expectations of your organization's members
Easy and convenient scalability of the project in the future
Guarantees of a secure transaction and follow-up support
Free consultation
- 09

Contacts