Again we want to talk about the project of cloud mining HashFlare. We have repeatedly written about this project and have been working with it since 2015.
In 2015, the first acquaintance with the HashFlare project took place. At that time in the arsenal of the project there was only one algorithm SHA-256 and in development was the algorithm Scrypt, which was successfully launched at the beginning of 2016.
The undoubted advantage of this project was that the contracts for these algorithms were unlimited. So they gave a guarantee of 100% payback, the question was only time. From personal experience I can say that I acquired power when the Bitcoin exchange rate was in the region of 290 $. At that time, I thought hard, since it was a novelty for me and for a long time considered. At that time, the payback of my investments was about 7 months.
To my great pleasure, the Bitcoin course literally through 3 months rose to 600 $ (!) And I repaid my invested funds for three and a half months, which of course inspired me and encouraged me to invest in this project.
Of course, after halving production in July 2016, the SHA-256 algorithm began to generate less profit, but the Bitcoin exchange rate was not in place, which more than compensated for the losses. I will not go into the figures, I will only say that the algorithms SHA-256 and Scrypt periodically competed in profitability depending on the courses and complexity.
In 2016, the project added the algorithms Ethereum, Dash and ZCash. These contracts were urgent and worked only a year. At start, many were perplexed, because with this course and profitability these algorithms bordered on the issue of payback. But as practice showed in HashFlare made the right bet and the one who purchased these algorithms was in a decent plus.
HashFlare does not pay
Time does not stand still, everything changes, and the situation in the cryptomir is changing more quickly doubly. By the end of 2017, users were increasingly expressing discontent. The complexity grew, production declined. Plus, many faced the problem of obtaining referral awards. Why is it that it was in HashFlare that the "cookie cookie" especially interfered with the process of charging referral fees? Referral remuneration simply did not come. After appeals to technical support, it turned out that the person being registered was not a referral, or because of the cookies, the money left the system.
This fact caused a lot of negativity. And although the company made clear recommendations that when registering referrals and replenishing accounts it is necessary to clean cookies and browsers history, this did not improve the situation, because the history of referrals is anonymous and to understand who registered under you and when it replenishes the balance it is simply impossible.
Also, a big dissatisfaction was caused by a change in the timing of the contracts for the algorithms SHA-256 and Scrypt. Since August 2017, they have become urgent for a period of one year. This fact led to the fact that the dependence of the payback of contracts became more pronounced depending on the complexity of extraction and the rate of crypto-currencies, which, with an unfavorable outcome, threatened that the invested funds could simply not pay off.
But the company quickly orientated, changed the contract price and optimized electricity costs, which left the payback of contracts and income in a comfortable range. And given that since August the rate has only grown, we can conclude that the calculation of specialists again proved their competence in their knowledge of the market and the foresight of the situation.
Difficulties with withdrawal of funds
Recently, many people have noticed the difficulties with the withdrawal of funds. Commission on the output is increased. The site periodically conducts technical work. Of course, some inexperienced investors are in a hurry to write these problems to the HashFlare account, although if you understand it is quite understandable that these are the complexities of today's situation in the Bitcoin and HashFlare network as a part of the system, it can not stay away.
What to expect from Hashflare in 2018 year
Today, the audience of HashFlare is growing at a significant pace, which creates a big load on the service. Today on the site about 1.5 million users are registered.
In this regard, the development team does not stand still. Work on HashFlare is conducted in two directions. First, the structure of the project is translated into AWS. Secondly, the core of the site is divided into separate microservices, which is designed to make the project more productive and stable.
For ordinary users, this means that the system will become more stable and flexible. AWS, is a cloud-based hosting solution. This solution will allow you to deal much better, with high loads and DDoS-attacks. Today it is noticeable that the team does not always manage to withstand the load on the servers. Translation into AWS will solve this problem.
Today we are working hard to write a system version of 2.0. If the current version is written in PHP, then HashFlare 2.0 will be written in Java. In the new version, in addition to the frontend and the backend, the emphasis is on the service for the API.
The plans to maximally open the project for third-party developers, thereby allowing the creation of a huge number of products around HashFlare. For example, mobile applications, bots for Telegram. The new HashFlare will be improved both from inside and outside. The question of design is only a small part of the improvement and what will be visible to users. The version of 2.0 will simplify and optimize the work with the personal cabinet.
The transition to the updated version of HashFlare 2.0 will occur during 2018 year, but in the spring the development team plans to present the first improvements and changes.
Author: Yevgeny Yakubenko, Analyst Freedman Club Crypto News
Risk warning and disclaimer. Freedman Club is not responsible for any content or product on this page. This article can not be considered as an investment advice. Please consider these risks when assessing investments related to crypto-currencies.
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