MinerClaim - XMG Coin Magi Mining

minerclaim.net is closing on 22 November 2024
posted 10/01/2024 20:32:13

Hello dear XMG community.

We have to inform you that we will be shutting down our services.

Please transfer all remaining XMG Coins from your accounts by November 22, 2024.
After this date, it will no longer be possible to restore the services in this form, as we will also completely shut down the underlying infrastructure and the code will no longer run on modern operating systems without tricks.

We would like to thank you for your trust in our services. We have worked hard to provide a reputable and stable platform for Coin Magi Mining, which at the same time was only ever a hobby project and never profitable.

(Stratum servers are already stopped and site registrations are disabled now.)

For more details on why we came to this decision:

Recurring Coin Magi chainsplits have caused us to invest countless hours in repairing the database. We lost coins on these, which we had to recover from fees and donations.
The “php-mpos” software that we use for this platform is not designed for the large number of concurrent users that we had when we were active. For example, the database grows with every transaction and is designed in such a way that it is technically impossible to clean it up. Among other things, this meant that the execution of payout orders took longer and longer, which prompted us to keep increasing our hardware resources. If our pool had suddenly become active again, we simply would not have been able to keep the site online, so we would have had to start with a completely new database, among other things.
A large part of the software used is no longer maintained by the original developers, meaning that more and more security gaps are emerging. It is simply not possible for us to close these security vulnerabilities by ourselves.
Lack of profitability and costs incurred for server operation
And of course the lack of interest in the Coin Magi cryptocurrency and the lack of motivation to drive its further development. I know that there are people who have done a considerable amount of reverse engineering to find out the origin of Coin Magi so that the project can continue. Should it come to that one day, I'm sure there will be new pools to go to.

For those who would like to know how we were able to operate this pool despite the poorly written mining software, we used the following tools in the background:

HAProxy (among other things to distribute the traffic to several internal Stratum servers so that they rarely failed during attacks), Graylog for log anomaly detection, Cloudflare next to our firewall(s) (thanks to OVH) to intercept DDOS attacks, Docker to isolate poorly programmed software, strictly separated Coin Magi Daemon for public RPC queries and coins as well as cold wallets, mariaDB with Replica setup, Grafana, influxdb and telegraf for monitoring. kvm and openstack for virtualization. We had parts of it twice, for the staging & testing operation. (Yup we have ensured scalability and had big plans years ago, hehe) The challenge was not to build the setup, but to constantly maintain the entire software stuff without stratum downtimes.

Thanks for your trust. Wish you all the best. Stay healthy.

- Dan