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The largest Monero mining pool shuts down

The largest Monero mining pool shuts down

The largest XMR hash rate mining pool announced its shutdown in favor of a decentralized peer-to-peer counterpart. 

As reported on the official project website, on August 12, the MineXMR mining pool will cease to provide services. Until that time, miners should switch to another pool. It is not known what exactly the cause of the shutdown was.

The website offers p2pool, a decentralized peer-to-peer pool, as a transition option. The key difference between MineXMR and p2pool is the commission cost. While MineXMR charges 1.1% for every payment of at least 0.004 XMR, p2pool charges no commission at all, and the minimum payout is 0.003 XMR.

MineXMR is considered one of the largest mining pools in the Monero ecosystem. In February the size of the pool reached such a size that the project accounted for more than 40% of the Monero network's hash rate. At the same time, users began to worry that the MineXMR pool could conduct a 51% attack if it reached the required size. However, there was no attack from the pool. It remains unclear whether the centralization of power was the reason for closing the project.

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