TL;DR (1) We started a closed (by invitation only) beta testing on mainnet, and calling more miners to join (2) Our donation campaign is over. Existing funds will be enough to launch our operational pool on Ethereum soon.

Its been a month since our last update, many interesting things have happened since then. We first give a brief update of what we have accomplished during the last month.

The most exciting news that we want to share is that SmartPool has been deployed and tested on Ethereum Classic for several days. Our pool has been running smoothly without any glitch since the deployment, has mined over 30 blocks to date. We thank Aurel Iance and a few other miners who have helped us consistently in the test. We chose to start initial beta testing on Ethereum Classic is because the hashrate is much smaller there, and we can see over simulate ten times higher relative hash power with the same cost in comparison to Ethereum. We plan to switch to Ethereum mainnet in a matter of days.

We have stopped the donation campaign. In total we have received 1648 ETH, in which roughly 1630 ETH was donated back in February when ETH was priced at around 10 USD each. The total number of SmartPool tokens that we issued to the donors is 224,101, and we pre-minted 600K tokens. To express our gratitude, we have decided to distribute some of the pre-minted tokens to existing token holders. Specifically, there are 764820 of SPT issued to the date June 8th, 2017. The SmartPool team keeps only 50% of the total number of the tokens after the distribution (which happened in this transaction). Please keep in mind that the tokens do not have any financial implication at the moment. They merely represent the contributions that donors have contributed to SmartPool in our donation campaign. Once we launch SmartPool publicly in the Ethereum mainnet, which is likely to happen in the next month, we will consider a proper mechanism to reward token holders.

Call for help from miners

We are looking for miners to join our private test on the Ethereum mainnet. Please let us know if you have a spare PC/ laptop which is in the same network with your mining rigs. We will assist you on the setup, but you can take a quick look at the instructions here. It will not take you more than 100 Ethereum blocks to finish the setup to join SmartPool. We promise!

SmartPool offers pay per share payment scheme! You are getting paid regardless to pool’s luck or size. So you do not loss anything by joining our testing. There is no minimal hash rate required to join SmartPool private test. However, 10 GHs would enable a daily payment, while other will have to wait a bit longer to be paid to avoid high fees.

What is more awesome: we will not charge any fees in our private test. The fees you may have to pay for the transactions fee should be around 0.01 ETH, thanks to the recent 4 GWei gas price in the Ethereum network. Hence, we are the most attractive pay-per-share mining pool currently operates over Ethereum.

Please join and help us reinforce the decentralization of Ethereum! Ping us on twitter or gitter, or drop us a line to admin@smartpool.io if you are ready.

Acknowledgement

We would like to thank the SmartPool donors for their generous donations. We thanks Aurel Iance and Viet Vu and other miners for helping us testing SmartPool on Ethereum Classic.