The 2Miners mining pool is always at the peak of innovation. In addition, the pool team is constantly looking for options to increase the profitability of their miners and improve their user experience.
Another proof of this commitment was the collaboration with Archer DAO, an innovative platform and development team that provides additional income for miners, also known as MEV profit.
Additional income for miners has become an increasingly relevant topic lately – especially against the backdrop of the imminent introduction of the so-called EIP-1559 into the Ethereum network this summer.
Changing the gas pricing model will eliminate the share of expensive transactions in cryptocurrency blocks. In this regard, each mining pool is looking for opportunities to compensate for the decrease in miners’ profitability – and 2Miners is no exception.
Archer DAO website
How is additional MEV income secured? In fact, this is an automated process that allows you to create additional income by arbitrating certain transactions.
Recall that arbitrage trading in cryptocurrency is the execution of transactions with the same asset on different exchanges. The purpose of this is to make money on the difference in value, if any.
This is mainly due to the use of p2p platforms, which eliminates the need to use centralized exchanges. Special software analyzes transactions in blocks in order to get the opportunity to be inside the token exchange chain and receive additional income from the difference between their rates. For this technique to work, the intercepting transaction must be executed at an early stage of block formation. Thus, it will be possible to intervene in the exchange process and gain an advantage.
The operation requires the participation of two parties. The first of these is a miner or mining pool with a sufficiently large hash rate that would allow the implementation of a transaction. The second component is a complex algorithm that looks for opportunities to conduct such exchanges and prepares such transactions for mining pools.
Naturally, the 2Miners pool development team has been following this technique for a long time and is familiar with several options for implementing MEV for miners. The most popular solution at the moment is probably FlashBots. However, most popular does not necessarily mean most profitable or advanced. And for this reason, the 2Miners team carefully researched the niche and found the perfect MEV partner for cooperation.
It was the Archer DAO team, which, over several months of observation, seriously impressed the 2Miners representatives with the efficiency of their algorithm and the capabilities of the developers. Since the cooperation has already begun, representatives of the mining pool have already implemented some MEV transactions in their blocks to increase the profitability of their miners.
As in the case of other innovative technologies, it is necessary to cope with certain little things that would increase the efficiency of MEV mining and help it meet other standards of the 2Miners pool in terms of transparency, efficiency and openness. However, 2Miners representatives emphasize that by the time EIP-1559 is introduced to the Ethereum network, they will do everything possible to increase the profitability of each miner using MEV transactions. At the same time, the miners themselves do not have to do anything for this.
In the near future, representatives of the mining pool will share the intermediate results of introducing innovation into its work. If you have not yet mined cryptocurrency on 2Miners, we recommend that you do it now. The mining pool has more than 51 thousand miners, including both large companies and individual mining lovers with several video cards in hand. They value the pool for its advanced farm monitoring capabilities, transparency, Telegram support, and more.
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