Cudo Mining Software Lets Users Mine According to Profitability

At a time when various cryptocurrency miners have to leave the industry because of the year-long bear market, a new mining software called Cudo Miner is is changing the game with highly efficient software to optimise hashrate and profitability.

What makes Cudo unique is the fact their products are designed for advanced command line users as well as novice GUI miners alike. The software can be installed on your laptop to make use of spare power, whilst also being used by miners with large GPU rigs.

Cudo Miner is the first mining software that allows users to apply per-algorithm optimisations and GPU overclocking from the same application. Usually, miners would have to use command line scripts to optimise their performance based on the cryptoasset they're mining plus something like MSI afterburner - GPU software - to overclock their GPUs memory, core count, power etc.

According to Cudo Miner’s website, miners using the software will always mine the cryptocurrency most profitable for them, by monitoring the relative mining difficulty and market price in real-time choosing between 9 cryptocurrencies with 5 different mining algorithms.

Cudo Miner continuously scans the coin value and difficulty, automatically switching your mining efforts to provide the highest profitability at any given time.

The recently released built-in GPU overclocking feature allows users to tweak their GPU clock and memory from the software and choose the optimal configuration for your hardware.

This means that the software is continuously mining the most profitable coin without losing performance as your GPUs will be set to the optimal configurations

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Mining While Performing Other Tasks

Interestingly, Cudo Miner allows users to control their GPU and CPU to mine cryptocurrencies concurrently, while also allowing them to control just how much of their GPU/CPU resources they use to mine, so they can keep on doing other tasks if they don’t have a dedicated mining rig.

Helping give miners even more control, if the software is installed on a laptop it allows them to automatically suspend mining if the machine isn’t plugged to a power outlet, or schedule when to mine to take advantage of times in which the laptop isn’t being used.

Miners who use the platform can notably choose to be paid out in either Bitcoin or Ethereum so they won’t have to deal with dust after mining various altcoins if the algorithm sees it’ll be profitable to keep on switching:

Cudo Miner was born out of frustration and desire to simplify and make crypto mining more profitable for all. We collaborate closely with our community to help evolve the software and to ensure it is the most competitive crypto mining software available.

While the software is free to download, the team behind it takes a 5% commission off of miners’ earnings to cover operational and development costs. While a 5% fee is above that of most mining pools, Cudo believes its advanced software and hassle-free setup will more than make up for the higher fee in what it returns. In fact Cudo says they have the most efficient software on the market.

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Future Plans

Cudo Miner’s Beta launch was made ten weeks ago and since then it has already garnered over 10,000 users. Its founders, Matt Hawkins and Duncan Cook, have revealed in the future they plan on making it even easier for miners to configure their machines.

Before launching Cudo Miner, the team had numerous projects. These include a disaster warning app for the American Red Cross, and what was once one of the fastest growing UK datacenter and internet services companies before being sold.

In next year’s roadmap, Cudo Ventures told CryptoGlobe, Cudo Miner is set to enable a distributing computing feature, which will allow users to rent their computing power to clients, essentially allowing them to rent a “supercomputer.” This feature is set to launch in the first quarter of 2019. Unlike other distributed computing projects such as Golem and iExec Cudo are attracting a large user base offering mining services first.

The team also plans on going mobile, allowing users to earn and monitor their performance while on the go. Users who sign up via CryptoGlobe’s referral link will received a 10,000 satoshi bonus.

Maker's MKR Token Has Risen 37% This Month, Outperforming the Crypto Market

  • MakerDAO loan payment system has performed well during extended crypto bear market.
  • This, according to market analyst, Sebastian Sinclair, who pointed out that MKR tokens are up 37% in value so far this month.

Ethereum-based token maker (MKR) has recently started outperforming the larger cryptoasset market - as MKR has recorded a 37% price rise so far this month.

Currently, MKR tokens are trading $534 after rising 3.4% in the last 24-hour period, and the market capitalization of the maker platform stands at $529.3 million - making it the 17 largest in the cryptocurrency space. On February 14, each MKR token was priced at 4.6 ETH, which is notably the token’s highest valuation since October 8, 2018.

At press time, MKR’s value against ETH has corrected back to approximately 4.16 ETH, presumably after some traders sold some of their holdings in order to take profits.

As explained on its official website, MakerDAO is a smart contract platform built on the Ethereum blockchain . The value of DAI, MakerDAO’s native stablecoin, is backed by ETH and it is also “soft-pegged” at a 1:1 ratio with the USD. DAI’s peg has been created via a system of collateralized debt positions (CDP). Functioning as a loan payment system, MakerDAO uses ETH as collateral, which is required for the governance of DAI in Maker’s ecosystem.

2% Of All ETH In Circulation Locked In MakerDAO Loans

So far this month, MKR’s value has appreciated considerably - when compared to its performance in previous months. According to Sebastian Sinclair, a market analyst and IT journalist, MKR’s recent price movements are a sign that the current bear market is “beginning to falter.”

Maker tokens are issued or burned according to DAI’s price movements - in order to maintain its peg. As Sinclair pointed out, the MakerDAO ecosystem has managed to perform relatively well during the prolonged crypto bear market - as 2% of all ETH in circulation is currently locked into MakerDAO loans.

At press time, over 1.97 million ETH have been locked up in Maker’s primary contract - which accounts for approximately 1.87% of over 104.86 million ETH in circulation. This figure is substantially higher than the 1% of ETH locked by Maker in November 2018. As Sinclair has observed, DAI is “overcollateralized” by over 200% (on average). This means that for every DAI that is issued, there is about $2-3 in ETH locked in CDPs. Because of this, when ETH’s value depreciates, more of that digital asset needs to be locked in Maker’s contracts - in order for DAI to remain collateralized.

MakerDAO Offers "Independent" And Competitive Interest Rates

Moreover, MKR tokens are used to cover transaction costs on the Maker platform and they provide investors with voting rights within MakerDAO’s “continuous approval voting system.”

Recently, MakerDAO’s management increased the platform’s stability fee from 0.5% to 1% - so that fluctuations in DAI’s price are reduced. This should (theoretically) help DAI maintain, or keep its peg close to the USD.

Commenting on the usefulness of MakerDAO, with its ability to offer “competitive” interest rates that are independent of the US Federal Reserve’s rates, Tanner Hoban, a former equity researcher and currently involved with ConsenSys, noted (via Twitter):