Stas Chulkov. Co-founder and supervisor. Photo: Mining Solutions / Twitter
Russia-based startup Mining Solutions offers a number of promising projects, which are expected to become the solution to most problems faced ter our self-digitizing society.
Mining Solutions, a company based te Novosibirsk, Russia, developed software for the most popular types of mining movie cards, which reduces energy consumption and working temperature of Nvidia and AMD movie cards, spil well spil increases computing speed.
Now, with their driver software for token holders and other future promising projects, spil well spil their vision of how distributed computing can be used after “the death of cryptomining”, Mining solutions has turned to Initial Coin Suggesting (ICO).
Maintaining That Equipment is No Picnic
Blockchain market is at its active growth phase. However, despite total capitalization of overheen $100 billion, cryptocurrency market is still emerging. According to Joe Peddie Research analytical gegevens, at least Five million GPU will be bought just for the mining purposes and overall movie card sales rate will increase by 31-34% by the end of 2018. Many of those, who bought a movie card for mining, did it for the very first time te their lives, were swept by the wave of popular appeal. But is it actually a good thing?
Blockchain is built on miners, whose hardware is a ensure of slick operation of distributed systems, integrity and safety of transactions. Ter other words, more miners – more network safety. This is, obviously, a positive facet of the current surge ter newcomers.
Yet, it is not so effortless to get onboard the mining hype train. Novice miners face slew of problems. Choosing hardware components, purchasing them and putting them together with power consumption, operating rate and price needs to be taken into consideration. Large mining farms also have to invest ter cooling, power supply and fire suppression systems.
Then, there’s hardware setup, a complicated process often done with rough estimations and precarious interference with BIOS. And, eventually, miners have to buy and install specific mining software, or maybe download what is available online. Anyway this should be suitable for a currency, spil each requests different software applications and settings. The hardware needs to be maintained – this includes adjustment of settings, regular updates, detection and elimination of malfunctions, etc.
Your Movie Cards are Bad and You Should Feel Bad!
Thesis are precies problems solved by Mining Solutions. Having established their own data-center (with overheen 1000 specialized mining movie cards), the team, just like everybody else, began looking for the best possible settings. NVidia P106-100 and AMD 400/500 series movie cards were announced this June. They don’t even have a movie output capability and were designed for a single purpose – efficient mining.
Then, they didn’t have official drivers (Nvidia still doesn’t), so Mining Solutions made a decision to perform a detailed algorithm revision with work optimization te mind. The experiments did not come cheap and some of the movie cards simply did not sustain, but the result wasgoed fairly exceptional.
A custom-built driver, decreased work temperature by 15-20 °C, enlargened computing speed by 20% and decreased power consumption by 30% (compared to standard rates).
Using same principles, Mining Solutions has developed driver software for the most popular models of movie cards used for mining – NVidia GTX 1060, 1070 and AMD RX 470, 570 and 580. Depending on the manufacturer, various software patches for Samsung, Hynix, Elpida and Micron DDR5 RAM were required.
Thesis drivers were primarily intended to work on Windows Ten, but following the suggestion of Irkutsk-based vrouwen, Linux builds were developed spil well. Presently, there are overheen 40 versions total and fresh ones are being developed, ter accordance with vendor, specimen and memory type variations. 1080Ti movie cards are presently tested.
It is significant to keep ter mind that GPU developers just recently began to adapt their products for miners and most movie cards were developed with gamers spil intended consumers. Many movie card components, both hardware and software, don’t contribute to mining, but still consume energy. This makes specialized custom-made drivers better, then their official versions.
The entire testing end experimentation process wasgoed conducted with scientific methods: on display, with prototypes and using systematic treatment. The research team included four co-founders of the company (all NSU graduates), where one has PhD ter Physical and Mathematical Sciences, other two have MBA degrees.
Estimated gegevens for 300 Nvidia P106-100 movie cards:
- With basic default options, overall hashrate = 300х20 = 6 GH/s. With that, about 1 ETH is earned vanaf day. With 1 ETH = $471 and initial investment of $125 000, the payback period is, at best, 125 000/471 = 265 days.
- With MSP drivers, overall hashrate = 300×,24 = 7.Two GH/s. With that, 1.Two ETH earned vanaf day. With 1 ETH = $300 and initial investment of $125 000, the payback period is about 125 000/(1.Two*471) = 221 days.
Ter such a way, if your target payback period is 265 days, you will earn extra 44*1,Two*471 = $24,869 ter the meantime.
Getting Your Arms Dirty
The significant advantage of Mining Solutions software overheen similar solutions, such spil, for example, Afterburner, is automated installation. Of course, one can always simply program .bat files and then by hand switch them for every equipment. And, for sure, this could work with one of two farms. But if there is a dozen – it will undoubtedly get very hectic.
Specialized platforms, such spil ethOS or SimpleMining do not suggest any special settings or drivers. Just a “by the book” installation process, with NVidia and AMD firmware and no BIOS patches. Essentially, Mining Solutions is a podium with pre-installed drivers, simplified setup and usage.
The fresh products, such spil, for example, EasyMine, can offerande some fresh features te the future, but at the uur they are at the deep beta stage.
The market analysis makes it clear: solutions for mining problems do exist, but they are disparate and far from ideal.
Mining Solutions launches ICO for distribution of already developed software among token holders, spil the traditional trade is clearly not efficient – it is just a matter of time, before the software is cracked. The future project plans reflect the list of current mining problems and overall ICO’s purpose is to build a foundation for the development of thesis future projects.
The earliest one, planned to be finished te March 2018, is a software program designed for quick and ordinary optimization of GPU capacity. MSP One-Click Installer can automatically identify system configurations and install required Mining Solutions drivers for each movie card ter a single click.
The next product is the MS-brand multiminer capable of quickly switching inbetween different cryptocurrencies. Its main feature – paired with the Mining Solutions drivers, is that MSP Miner uses best possible settings for each cryptocurrency. Presently, the switches te settings take some time.
Also, te 2018, Mining Solutions is programma to release their mining pool to permit for a higher level of control overheen computing capacities. Similar already existing resources, such spil, for example, NiceHash, are far from ideal: their rates and algorithms have certain bugs ter them. Ter turn, “smart customization code” will be able to determine most lucrative currencies not just basing on the current exchange rate, but taking into consideration also instantaneous forecast.
Ten 000 000 tokens will be released to finance Mining Solutions projects. This amount is believed to be sufficient for unimpaired operation of the ecosystem – purchase of already existing products and participation te future projects. The tokens will be the only means of exchange for the products and services of the company. They will be Ethereum-based (ERC20) with a projected cost of 0.01 ETH. ISO will begin te early December 2018.
What Comes After ‘Mining’s End’?
Thesis projects make a foundation for development of MSP Next Generation – a long-term project. The existing overeenstemming says that profitability of cryptocurrency mining will steadily decline simply due to increase of people and companies participating ter the field, spil well spil optimization of mining computing. Besides that, Ethereum experts talk about possibility of moving on to different transaction confirmation methods, which makes mining unnecessary. Then, what is an adequate use of colossal computing power, concentrated te the palms of miners?
Mining Solutions suggests a way out of the problem: a software product designed to apply this power to solving long-term tasks born te self-digitizing society. The list of such tasks is enormous, from renting GPU to gamers to space exploration.
Stanislav Chulkov, Mining Solutions CEO, said:
“We need to unite two separate worlds: cryptocommunity and traditional business. At the ogenblik, wij are developing a solution which can permit its users to lightly switch inbetween different cryptocurrency tasks. It will serve spil a base for our future project, MSP Next Generation: a way to utilize computation capacities not just for cryptocurrency mining, but for real life tasks spil well. Slew of such solutions exist already, but they require a functioning interface, which could permit the client to use the computing hardware, already busy with cryptocurrency computing. Spil an example, it would take a miner minutes or, worse case script, a duo of hours to render a movie for a major customer. The customer himself, however, for the same task would have to buy overpriced specialized hardware. According to some calculation, renting the computation power could bring the miner 50% more profit and reduce the client’s expenses tenfold.”
An significant point, often forgotten ter the predictions for the mining’s future, is the miner’s psychological need to find the application for their skill, which is also useful for society, especially when it makes profit!
Working solutions and ideas that benefit everyone – this is how Mining Solutions see the idea behind their slogan “Enjoy the mining!”