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Mining still is—and will likely continue to be—a major part of the cryptocurrency ecosystem. To maintain its relevance, however, it requires constant improvements in efficiency.
Cryptocurrency mining is designed to get harder. As such, it demands constant innovation from those determined to keep up with the curve. Even as the levels of difficulty are rising to the point where casual miners are effectively excluded from participation, a new solution has appeared that promises to make things easier for the common man.
easyMINE believes it has come up with the first Intelligent Mine Management Platform, designed to streamline every aspect of a mining operation and boost its profitability.
The easyMINE project is based on the assumption that the kind of efficiency required for effective mining can nowadays only be achieved with digital precision. The project team is convinced that their optimization technology will offer miners better performance, greater convenience, and higher profits.
Putting Faith Smart Technology
Wherever precise digital work is subject to imperfect human supervision, there is always space for loss of efficiency. In cases such as cryptocurrency mining, where profit margins are already quite narrow, this is far from ideal.
There is also the issue of time and energy expended on personally managing a mine. The task is complex and difficult, requiring a lot of attention.
easyMINE aims to solve these problems with its intelligent management solution, dubbed the “Autonomous Cryptocurrency Mining Controller” (ACMC). The technology is said to automate the workings of a cryptocurrency mine in a smart, dynamically adaptive way. The team’s machine learning expert Andrzej Buller explains:
“Our system will be capable of ‘learning’ from prior ‘experience,’ drawing informed conclusions from accumulated data and applying them to new situations.”
Three Levels of Intelligent Management
It is through the ACMC that easyMINE believes it can help in making mining profitable again—not only by reducing downtime, but also by having the system learn and implement long-term strategies.
Firstly, the ACMC does aid in minimizing the amount of downtime, as it acts to prevent crashes, freezes, and shutdowns—all of which, of course, directly impact profitability.
Secondly, and more significantly, the ACMC will actively seek to improve the overall efficiency of the mining process by modifying various operating parameters and evaluating the resultant patterns of behavior.
Essentially, the ACMC is able to learn from its own mistakes as it takes risks to try and make improvements. Even if its choices turn out to be wrong, it can revert and move on to another strategy.
This goes hand in hand with the third level of the ACMC technology, which relates to its ability to implement long-term strategies to increase the productivity of the mine.
easyMine claims that their system can select optimal settings based on general performance recommendations, so as to achieve balance between, for instance, energy saving and risk taking.
All in all, the team believes that easyMINE’s ability to self-analyze and self-regulate should help users see big improvements in their mining capabilities.
Ready to Roll
While full release is planned for 2018, the system is already functional and ready for the first stage of public beta tests.
“We’ll be starting sign-ups in just a couple of weeks,” says co-founder and CEO Łukasz Żeligowski. “We estimate that by the end of October easyMINE OS will be running on at least one thousand mining rigs.”
To help fund further development the team is holding a crowdsale, which has recently entered its third and final stage. To date, the project has raised approximately one million dollars.