End of x16rv2 mining

News updates about the Prohashing pool
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Steve Sokolowski
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Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

End of x16rv2 mining

Post by Steve Sokolowski » Tue May 05, 2020 8:57 am

We're sorry to announce that Prohashing will be discontinuing x16rv2 mining on May 6. Ravencoin, the anchor coin for this algorithm, has a hard fork on that date to a new algorithm, and there are no other x16rv2 coins that are traded at exchanges that have private APIs and accept US customers large enough to justify continued mining with the algorithm.

We are still evaluating the difficulty of implementing Ravencoin's new algorithm, and will post more information when we have made a decision as to whether Ravencoin will continue to be offered for mining.

There are three factors we are considering: first, there is a Python package available for the "kawpow" algorithm, and we need to test whether there are changes to the block templates. Second, configuration and math is usually the most difficult part of a new algorithm - but if we can be one of the first pools to offer the algorithm, we may be able to set a precedent of simplicity that the miner's "d=" difficulty should be the same as the block difficulty, making the math easy. Third, there may be no exchanges that offer Ravencoin for some time, because many exchanges enter "locked wallet" mode around the time of forks, so can't offer the coin until at least one exchange unlocks its wallet.

Ravencoin will continue to be offered as a payout coin regardless of the decision on mining, but as stated above, it is possible the coin will be unavailable for some time if all exchanges lock their wallets.
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