Crypto Startup CoinFly Levels Up Mining Operations for Newbies and Experts » The Merkle News
Cyprus-based COSD LLC company has established new technological paradigms for the crypto mining market with the introduction of its CoinFly ecosystem. The system offers robust functionalities for the optimization of mining operations.
New paradigms have surfaced in the crypto mining sector thanks to CoinFly, a robust mining system that provides miners an added advantage. The system, designed to cater to both newcomers and experts, offers sophisticated tools to enable an intuitive interface for mining rigs and automated responses to real-time performance. Additionally, this project creates the ideal environment for miners to run a profitable business and get the best from their mining equipment, especially now that major blockchains are halving their block rewards.
Bitcoin Warrior said that CoinFly “is a firm that is focusing on providing miners with excellent deals more than ever”
According to the information made available by the development team, CoinFly is an all-in-one ecosystem for miners. This notion stems from the fact that the platform comprises a hardware configuration layer compatible with ASIC, GPU, and CPU hardware, a real-time monitoring and management portal, an artificial intelligence automation system, and data integration infrastructure. All these layers give miners unprecedented oversight across their operations right from the setup stage to performance and output analysis stages.
“The platform delivers the power and flexibility to configure, drive, automate, integrate and manage mining processes across functions, systems, machines and pools. It is giving you the ultimate control to optimize your mining performance and expand its reach,” the team said.
Interestingly, the startup opted to create a unique operating system to further improve the flexibility and effectiveness of its crypto mining solution. Dubbed COS (Crypto Operating System), the operating system comes with a smart Linux agent, which means that it can seamlessly function with rigs and ASICs for improved efficiency. Once miners install COS as the main operating system of their mining rigs, they can select the configuration settings, depending on their level of experience. The software platform offers both manual and automatic system optimization settings.
As such, miners can either rely on COS to intuitively configure the best settings for their mining hardware or manually finetune the rigs to their preferred settings. Irrespective of users’ decisions, CoinFly promises to provide telemetry indications required to attain optimal system efficiency.
Another important detail that makes the CoinFly project interesting is the availability of auto-switching features ideal for profit-centric miners. CoinFly offers intuitive responses to real-time metrics from mining pools and equipment. Therefore, the CoinFly system can rightly decide to switch between pools by considering the performance of mining rigs and identifying the most profitable coin to mine at each point in time. Interestingly, the CoinFly ecosystem also consists of a native mining pool service, a crypto exchange, and is currently increasing its selection of external pools
CoinFly’s the most stable, safe, and profitable PPS Ethereum native pool is currently available to miners to test and use for free with no registration and minimum payment amount – 0.05 ETH. The mining pool adopts the PPS payment method and does not deduct any pool commission. Nodes are in Microsoft Azure and protection against DDoS attacks to ensure stable and uninterrupted workflow.
Besides, it comes with an advanced management system to boost the integrity of the system. As at press time, the pool only supports ETH mining. However, the team revealed that they are working on extending the pool’s list of supported coins and algorithms. Right now users have an opportunity to mine for free of charge with 0% fee, with low payout limits and no registration. IHODL analysis states that CoinFly provides “a high performing and flexible mining pool that values miners’ security and ensures that all its participants are rewarded fairly.”
Furthermore, CoinFly adopts a web-based interface. According to the team, opting for a web-based interface boosts the accessibility of the system. Hence, users can log in from any internet-enabled device to monitor the performance of their rigs and remotely adjust or halt all mining processes. The possibility of having access to the mining system from any location is great news for individuals who would rather opt for crypto mining as a secondary source of income.
While acknowledging the influx of mining malware and other related threats, CoinFly has partnered with security experts to establish an institutional-grade security infrastructure for its ecosystem. From its native wallet to its identity authentication system, CoinFly has incorporated standard security features to provide users with all the protection they need. To this end, the platform does not store users’ access keys.
Regarding Coinspeaker, “CoinFly eliminates fears of users about the centralization”.
Coinfly Excels in Performance Monitoring And Reporting
The mining software platform constantly engages with users through flexible notification tools to keep them updated on the statuses of their accounts. Therefore, users are always kept in the loop whenever the system notices an attempt to access assets or sensitive information. Apart from providing users with security surveillance tools, CoinFly’s notification system also delivers intelligent reporting. Miners can take advantage of the software’s advanced reporting tool to analyze their operations. To make this as comprehensive as possible, the monitoring component of the software supports bi-directional communication with all connected mining hardware. As such, it is always fetching telemetry indications and communicating it to miners.
It is important to note that CoinFly has dedicated a lot of resources to the pooling, processing, and reporting of telemetry indications. The team believes that comprehensive reporting empowers miners with all the information they need to turn their mining operations around. Thus, unlike a majority of mining software platforms, CoinFly delivers an accurate and uncomplicated representation of miners’ performances. With this, it becomes easier to identify processes that need optimization and know when to overclock mining hardware.
As expected, CoinFly has incorporated this transparent reporting model into its pool-integration program. The platform is aware of the shady operations of some mining pools. Consequently, it has chosen to only select pools with transparent business principles for their payout schemes. Likewise, the platform’s accounting section is fully customizable and supports the International Finance Reporting Standard (IFRS) format. With this functionality, miners can export data to external programs for further analysis. Ultimately, the core objective of the CoinFly ecosystem is to provide simple setup, management, and optimization functionalities to the global mining community.
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