One-button QuarkChain Mining Setup Release: QuarkChain’s PoSW Mining Return Is About 5 Times Higher Than That of ETH

QuarkChain
Aug 30, 2019 · 5 min read

The miners and community members of QuarkChain have been active of late since the launch of the new PoSW mining model. As we know that token holders want to grow interests while the miners want to lower the mining cost, this new model precisely helps both token holders and miners to attain their objectives. Once the miners meet the requirement of staking, the benefits of mining on QuarkChain (converting to market price) exceed mining returns from Ethereum under the same level of hash power. The benefit can be 5 times higher than the one on Ethereum. In order to enable more people to join the mining and staking, we have prepared three fabulous tools and one favorable news enabling both miners and holders to gain outsized mining returns.

Tool 1: Real-time Return Calculator

To help miners to quantify the QuarkChain mining return at anytime, we produced an official calculator to compute the mining return. By monitoring the hash power of different shards, the calculator can compute the mining return on different shards as well as the number of QKC needed to stake.

Calculator Address http://calc.quarkchain.io/

When one opens the webpage, the status of different shards is the first thing that pops up. The data in the last four columns are the most important. They are the minimum amount of staking tokens to start the shard hash power discount, the maximum effective amount of staking tokens, the difficulty level after staking tokens, and the expected return compared to Ethereum. Currently, shard 0 is using PoW, and all the others are using PoSW.

This calculator is easy to use. Firstly choose the shard you want to mine and fill in your own hash power, click the “Calculate” button and the mining return and the amount of QKC required to stake will be calculated. (Disclaimer: The amount of QKC required was calculated according to the exchange price between QKC and ETH when this article was written. The price stated may differ from the current price.)

The picture above shows that on shard 5, the mining benefit of PoSW will be 4.625 times higher than the one on Ethereum with a hash power of 100MH/S and with a staked QKC amount of 3,840,000. (Disclaimer: The screenshot shows the hash power when this article was written. Because of the dynamic changes of the network’s hash power, the mining benefits may also change.) Using shard 0 under PoW consensus without staking will also bring a mining benefit 1.13 times higher than the one on Ethereum.

Tool 2: One Button QuarkChain Ethminer

To facilitate miners joining our PoSW mining communities, we have prepared our One-button Mining Tutorial: https://github.com/QuarkChain/ethminer/releases/tag/one_button_ethminer1.0. Just fill in the shard ID and your mining address (20 bytes). You can mine the QuarkChain mainnet without maintaining a full cluster.

Notes:

1. The mining address here is 20 bytes, you can use your ETH address directly or your mainnet wallet address by removing the last 8 bytes.

2. The one-button QuarkChain Mining Setup only supports the shards using ETHash algorithm. The similar one-button setup for CPU to mine QKCash will be released soon.

Tool 3: Miners and QKC Holders Matching

QuarkChain’s mining mechanism strongly motivates the participation and cooperation between miners and QKC holders. You can enjoy the PoSW mining return as long as there are enough tokens in the mining address.

Security: Holders only need to provide the miners with the address where QKC is stored. No other information is needed for disclosure.

Efficiency: Miners and holders only need to reach an agreement for splitting the gains then they can enjoy the periodic return.

QuarkChain has established a matching group for miners and QKC holders:

1. I’m a miner and I have the hash power.

Join our PoSW mining community at Telegram: https://t.me/QuarkChain_PoSW_Mining.

Indicate that you are a miner and provide information regarding your hash power. Please read the pinned message carefully after you join the PoSW Mining Community group.

2. I’m a QKC holder without hash power.

Suggested minimum requirement: 500,000 QKC.

Join our PoSW mining community at Telegram: https://t.me/QuarkChain_PoSW_Mining.

Indicate that you are a holder and provide the amount of QKC you have. Please read the pinned message carefully after you join the PoSW Mining Community group.

QKC holders need to swap their ERC20 QKC to mainnet QKC in advance, and provide their holding address to the miners later. To ensure security, the holders do not need to reveal any private information. For holders who have large amounts of QKC, QuarkChain can help the holders to build mining nodes directly.

Significant News: Root Chain Mining Will Open Soon

Based on QuarkChain’s development progress, the root chain mining will open soon! By that time, the root chain mining return will be 2 times higher than that of the sum of all shards. Please follow our official channel for the latest updates!

About QuarkChain

QuarkChain is the first public chain to have implemented state sharding. Thanks to its great design of sharding function, QuarkChian has realized a high TPS. At the same time, it makes customization available for four factors: consensus, token economy, virtual machines, and ledger model. QuarkChain has become a flexible, scalable and user-friendly blockchain underlying architecture with high security, decentralization, and high efficiency.

Thanks to its state sharding technology, compatible with multiple consensuses, the PoSW originally proposed by QuarkChain can support the mining algorithm on Ethereum and the miners from Ethereum. More importantly, for mining on QuarkChain shards under the PoSW, as long as you meet the staking condition, the benefits of mining on QuarkChain, converting to the market price, exceed mining returns from Ethereum under the same level of hash power. Such benefits can be 5 times higher than the one on Ethereum!

Thank you for supporting Quarkchain, if you have any questions, please contact us through official channels.

Website:https://www.quarkchain.io
Telegram:https://t.me/quarkchainio
Twitter:https://twitter.com/Quark_Chain
Medium:https://medium.com/quarkchain-official
Reddit:https://www.reddit.com/r/quarkchainio/
Facebook:https://www.facebook.com/quarkchainofficial/
Discord:https://discord.me/quarkchain

QuarkChain Official

QuarkChain provides a secure, decentralized and scalable…

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