The MoneroOcean mining pool is most commonly known as a Monero mining pool with an algorithm/profit switcher. The problem that currently exists is that some of their server-side code is not available unless the pool operator that wants to use the code pays a 20 XMR fee. Without paying this fee, mining pools can only support Monero with MoneroOcean's code-base. This limits mining pool competition since there are very few that are willing to pay such a large fee to offer an algorithm/profit switcher on their pool.
The goal of this CCS proposal is to buy this code from MoneroOcean and release it on GitHub under the MIT Expat licence. MoneroOcean has given permission to do this both on GitHub and through Email. MoneroOcean has also said that if this code is open sourced by the community, it will be open sourced on their GitHub repository as well.
In the event that MoneroOcean does not open source this code on their own repository for any reason, the 20 XMR fee also provides us with all updates to the source code in the future which ensures that this code will remain open and free for everyone to use.
The code that they put behind this 20 XMR fee is broken in to two parts:
This is the code which determines the profitability of alternative cryptocurrencies (i.e. anything that isn't Monero) and sends jobs to miners based on their hash-rates of each algorithm. The profitability of each coin and algorithm is determined by the hash-rate the mining program reports it can do.
If you don't care how this profitability is determined, you can skip this paragraph. MoneroOcean determines the profitability of each coin and algorithm based off of the benchmark results of the software that is being used. This is done in various ways but that is out of scope for this brief explanation. The pool takes the hash-rates the miner reports that it can do and multiplies it by each coin's current hash profit to determine which coin is currently most profitable.
This is the code which converts all alternative cryptocurrencies (i.e. anything that isn't Monero) that are mined into Monero. It checks the current exchange rate through various exchanges, determines which one has the best rate, and uses that exchange to payout miners in Monero.
How Will This Benefit The Community?
MoneroOcean's source code for these two modules will be publicly available to everyone in the community which will allow any existing or future mining pools to use this code for free. This means that there will be more pools in the future supporting algorithm/profit switching with all payouts being in Monero. The goal of this is to make smaller pools more appealing to further decentralize the network and prevent gate-keeping of such features in ways that disproportionately impact smaller mining pool operators.
Who Are You?
I am Adorable Tanuki, a Monero community member that supports free software as defined by the FSF. My goal is to open-source as much as possible to the Monero community in an attempt to prevent gate-keeping of information or software in any form.
If you would like to contact me for any reason, please join one of the following channels on Matrix:
These channels are not yet bridged to IRC so I will be unable to see questions asked in those IRC channels. I kindly ask that you use matrix (sign-up on https://app.element.io) for the time being. I will do my best to respond to any and all questions that the community may have regarding this proposal and look forward to hearing feedback.
I am requesting 20 XMR to purchase MoneroOcean’s server-side code which consists of an algorithm/profit switcher. This code will be released on GitHub under the MIT Expat licence by MoneroOcean and myself. MoneroOcean has given permission to do so through GitHub and email as described above.