Now A new era has begun for the Conflux (CFX). A new era has begun for the Conflux (CFX) mainnet now that the Tethys network is up and open mining has begun. Want to help safeguard the network by contributing to Conflux and earning incentives in exchange? Mining in Conflux is now supported. Cooperative mining, anyone?
This article will provide you with not just an overview of the Conflux ecosystem and how it works, but also a step-by-step approach for getting started mining Conflux.
What is Conflux Mining?
Conflux is a unique consensus mechanism that powers a highly scalable cryptocurrency and smart contract system, making it the next generation of blockchain technology.
Because Conflux’s unique DAG structure, a TreeGraph, enables miners to integrate and process transactions in all concurrent blocks, rather than competing for the longest chain, it significantly improves speed.
Smart contracts written in Ethereum can be readily ported to Conflux since the Conflux network uses an account-based architecture like Ethereum’s and supports a customized version of Solidity and the EVM for its smart contracts.
There will be no retail sales of this endeavor. With a genesis supply of 5 billion CFX, its availability will be phased in. Tethys’ FC token will be exchangeable for CFX at a 1:1 ratio once the platform becomes live. Mining is another option for obtaining CFX.
More than 5,000 miners operating over 4,800 nodes participated in the 14 mining testing events that Conflux coordinated throughout the main nets’ second phase.
What mining equipment do I need to get started with Conflux?
The Conflux mining algorithm is dubbed Octopus. Conflux mining can be done with GPUs since Octopus is a memory-hard algorithm that resists ASICs.
At this time, Conflux mining software is mostly compatible with NVIDIA GPUs. As in the week after the Phase III main net launch, a GPU with more than 4GB of RAM will be needed. This need will increase annually by 1–1.5 GB, linearly.
Where can I look to see if I have any incentives waiting for me?
In order to determine how much money your mining equipment is making, it must first be operational. We will also explain how f2pool’s fees and rewards function.
Verify the block’s reward in real-time on the blockchain.
If you want to learn more about the distributed system your hash rate is supporting, you may do so by visiting the Conflux block explorer Confluxscan. Information on the blockchain, such as f2pool payouts, may be accessed by entering your wallet and transaction details.
Find out how much money you’re making.
To a large extent, your hash rate will determine how many coins you can mine. You may estimate your daily earnings by multiplying your Mhash/second hash rate by the going exchange rate for the cryptocurrency you’re trying to mine (e.g. USD or EUR). If you’d want to convert hash rate from another unit to Mhash/s, this handy tool is at your disposal.
The online f2pool calculator
Profitability estimates for today’s most common mining rigs are a breeze with our handy calculator tool.
Make sure you get paid by checking f2pool.
In order to keep track of your device’s real-time reward, f2pool provides a real-time record of the data you’ve mined and sent to the pool.
Peruse Your Files
You will continue to get payments from f2pool so long as you are successfully reporting your hash rate
Conflux mining payment data are available in real-time on the f2pool website if you are logged in. You can check your rewards quickly and easily using the f2pool app.