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Cryptocurrency mining can be a very lucrative business. However, the days of turning idle processor cycles into an easy profit are long gone.
As the difficulty of mining tasks keeps increasing, hardware complexity follows suit. Over the last decade mining rigs have evolved to become highly specialized and expensive machines, operating in pools—all in order to maintain efficiency. When human factors are involved, however, there is always room for error.
easyMINE claims to be the first Intelligent Mine Management Platform, designed specifically to take human fallibility out of the process in order to ensure maximum efficiency and profitability.
A proprietary, three-tiered technology called the Autonomous Cryptocurrency Mining Controller (ACMC) is said to be able to prevent crashing and other issues that lead to downtime, but also dynamically introduce performance improvements and enact long-term strategies.
Digitalizing the mining process
Of course, since the coins in question are digital, the mining involved is far removed from dusty holes in the ground and back breaking labour. It is all digital mining already. However, the past few years have seen the sophistication of the mining process increase by several orders of magnitude.
To remain profitable, mining now requires levels of precision and responsiveness that a human supervisor cannot always provide. This is why easyMINE team has envisioned a mine management platform that altogether removes the human element form the equation. The result, they believe, will save not only time and effort, but also energy.
The easyMINE platform is not just an automation framework—as explained by Dr. Andrzej Buller, the team’s machine learning expert:
“What we have in mind reaches far beyond simple automation. Our system will be capable of ‘learning’ from prior ‘experience,’ drawing informed conclusions from accumulated data and applying them to new situations.”
Intelligent Mine Management
Indeed, if Buller is to be believed, easyMINE may all but revolutionize the mining process. This is thanks to three layers of optimization technology found at the heart of the platform.
The first layer is intended to prevent freezing and crashing, eliminating downtime which leads to decreased efficiency—and therefore lower profits. However, it is the second and third levels that seem to have the ability to truly streamline the mining process.
Layer two sees the ACMC actively seek to improve the overall efficiency of the mining process. by modifying various operating parameters and evaluating the resultant patterns of behavior.
Thirdly, the ACMC is also in charge of implementing long-term operating strategies. This involves selecting optimal configuration settings based on general performance recommendations provided by a human operator.
Interestingly, easyMINE also claims that the underlying technology can share work experience between different rigs within and across mines. Any time the algorithms identify a potential area for improvement, the optimizations can be applied to all compatible machines under easyMINE’s control.
The Future Is Here
The vision of a self-managing, near-autonomous cryptocurrency mine may seem like science fiction, but the easyMINE system is already up and running on several dozen rigs. The next step in their process is the launch of a public beta, which is scheduled to begin in a few weeks.
Meanwhile, the easyMINE ICO is still ongoing, with two out of three price tiers already sold out and nearly one million USD raised.
Last modified (UTC): September 13, 2019 8:46 AM