Leading Ethereum (ETH) mining pool introduces private transactions
- D믭 Ethermine Private RPC Endpoint, this feature help traders bypass public mempools.
- Ethermine has already introduced this feature in Metamask, a renowned ETH wallet.
- According to Ethermine, this feature only privatizes transactions, not prioritize them.
Ethermine, a top-tier mining pool for coins such as Ethereum (ETH/USD), Ethereum Classic (ETC/USD), Ravencoin (RVN/USD), ZCash (ZEC/USD), and Beam (BEAM), has rolled out a feature that makes transactions private.
The project, which touts itself as the most reliable mining pool for the above coins, disclosed this news through a tweet earlier today. Reportedly, the feature is titled Ethermine Private RPC Endpoint.
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According to Ethermine, the functionality seeks to help users keep their trades on decentralized exchanges (DEXes) from the public mempool. Explaining how to activate this feature, Ethermine noted that users should launch Metamask, select their current network (for instance, the Ethereum mainnet), click custom RPC, and add Ethermine RPC.
Per Ethermine, completing these steps will let users bypass the public mempool and send transactions to its mining nodes privately. This feature will let sophisticated traders improve the privacy and security of their strategies and activity.
Addressing some concerns that users might have, Ethermine said transactions will remain private until it mines an Ethereum block.
In the event of uncle blocks, two Ethereum blocks that are mined and submitted to the ledger at roughly the same time, the transactions in the Ethermine block will leak to the public mempool. However, the risk of a block becoming an uncle is 5%, according to Ethermine.
Ethermine RPC endpoint transactions do not have priority over others
Ethermine also guaranteed users that it does not leak or act on information as the endpoint relays it to Ethereum blocks. The company added that it adheres to Flashbots Fair Market Principles.
Responding to whether transactions completed through the Ethermine RPC endpoint have priority over other transactions, Ethermine said,
No, we treat transactions submitted via this endpoint similar to transactions received via the public mempool.
The mining pool added that it had opened a Discord channel to let users of this service ask relevant questions.
This news comes as Ethermine continues holding the crown of the largest mining pool by blocks produced. According to data from Etherscan, the mining pool accounts for 22.04% of all mined ETH followed by SparkPool and F2Pool, which generate 16.44% and 10.94%, respectively, of Ethereum blocks.
With SparkPool and F2Pool having to shut down operations in China following the recent crackdown, Ethermine will continue reigning supreme for a while.