Profitability is what matters !

Whalesburg
Sep 7, 2018 · 4 min read

Dear Whalesburg community,

Recently Whalesburg has been popping up in more and more forums and articles, its reputation growing as the best new project among mining solutions. But is it true? Is Whalesburg really the most profitable mining pool in the world? How could that be possible?

The ​​Lowest Uncle Rate

​​As you may have read in one of our previous posts, we’ve significantly improved node performance in our pool. This has resulted in a massive uncle rate drop down to 6,25 % when mining Ethereum and 0-2% when mining Ethereum Classic. For comparison, one of our competitors, a top 3 mining pool, currently has an uncle rate of about 35% on ETH and 7% on ETC.

​​For those who aren’t familiar, the concept of “uncle blocks” arises from one of the characteristics of the Ethash algorithm. When two pools find the block at approximately the same time, the pool that was a bit behind is considered an “uncle” and receives around 60% of the usual block reward. ​​This happens especially when a pool experiences time lags. Lags of 1–3 seconds are pretty normal and sometimes even large pools suffer from 15–20 second lags.

​​These time lags, in combination with the small amount of time between blocks in the Ethereum network, result in an “uncle rate” of about 35% for some large pools; meaning 35% of the blocks won by those pools are in fact uncle blocks. For some reason, this situation is often neglected by miners, but it shouldn’t be. Let’s look at the numbers to illustrate just how big of an affect uncle blocks have on miners’ profitability.

For simplicity, let’s round up the Ethereum network block reward to 3 ETH and assume that an uncle block reward is 2 ETH. Now let’s consider a pool that has, like our competitor, a 35% uncle block rate, meaning 35 out of the 100 latest blocks are uncle blocks:

In this case miners in the “top 3” pool will only get and share:

65х3+35х2=195+70=265 ETH.

Meanwhile Whalesburg miners will get and share:

93,75х3+6,25х2=281,3+12,5=293,8 ETH.

This means our pool is 10,8% more profitable even now while it is still at MVP stage after just two months of development beyond the token sale! ​​Thus Whalesburg is in fact the most profitable pool in the world among Ethash mining pools. All data are from the Ethereum blockchain so you can easily verify yourself.

​​Sales Plan and Strategy

​​As you may have noticed, last week our pool hashrate dramatically increased to 120 GH/s.
​​Based on our sales plan we were going to start attracting new miners from next month but current miners’ interest was higher than our expectations. ​​This is the direct result of hiring three sales managers and starting sales development.

​​Also, we have worked out a partnership program for early supporters who have demonstrated a great deal of commitment and helped us to promote the product. ​​To show our gratitude we are ready to propose the following special conditions: a lifetime percentage of the income of miners referred by our earliest supporters. Please refer to our Telegram chat for more details.

​​At the moment we are attracting partners and getting super helpful feedback in order to improve our interface and user experience. Our next step is to attract more miners across Europe, the USA and Russia. We are planning to get the most out of these areas by the end of this year. In the beginning of 2019 we are planning expansion to Asia, with an initial focus on China, Korea, Japan. In mid-2019 we will also consider other regions based on our priorities and the evolving landscape.

Achievements So Far

This year we worked hard. To summarise all our release notes, the most important features are:

​​We mine an algorithm, not a coin. When you connect to Whalesburg you can forget about having to find the most profitable coin by constantly calculating profits in a shifting environment. The Whalesburg pool is doing it for you. Automatically.

​​Algo-wide PPLNS is a UNIQUE Whalesburg feature. This is what we meant by «profit-switching mining pool based on game theory». Miners mine different coins, but take their reward as a team using our unique PPLNS method.

We have the ​​lowest possible uncle rate. This a feature that is sure to take the mining world by storm. We bet this will be a key parameter used to compare pools in the near future. For now. incomprehensibly, only a few people care about it. This means we have a huge advantage.

​​System architecture has been reworked. We have a new mining pool engine that includes an improved Stratum protocol to support multi-algo and multi-coin switcher on the server-side.

We built our own code from the ground up. The Whalesburg mining pool is a 100% proprietary solution. We use GoLang but the team reworked it from scratch to achieve maximum reliability.

​Constantly evolving user-friendly ​UI/UX. Talking to miners on a regular basis helps us to build the perfect interface where our clients can get the real-time data they need. Our goal is to make mining splendid and this is how we achieve it.

​​Last but not least: profitability! A year ago we were telling everyone that we would help them achieve higher profitability. Well here it is: just connect to our pool and enjoy. …Then call a friend and enjoy together :)

Stat with us and help us to improve further!

We appreciate your support!

Join #whalesburg: https://whalesburg.com

Telegram: https://t.me/whalesburg

Medium: https://medium.com/@whalesburg

Reddit: https://www.reddit.com/r/Whalesburg

Twitter: https://twitter.com/whalesburg

Whalesburg

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Whalesburg is a profit-switching mining pool! https://whalesburg.com

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