Important! Things You Need to Know about TOP Mining
TOP Mainnet Overview
According to TOP’s economic model, the initial maximum issuance of TOP token is 20 billion, of which the total mining rewards are 7.6 billion. The ratio of annual issuance is 8% of the total ratio of reserved rewards. As the ratio of reserved rewards decreases year by year, the ratio of issuance also decreases year by year.
For example, if the remaining mining rewards reserved in the first year account for 38% of the total, the issuance ratio in the first year is 38%*8%=3.04%, and the number of issued TOP is 20 billion*3.04%=608 million; The ratio of the remainings reserved in the second year to the total amount is 38%-3.04%=34.96%, then the issuance ratio in the second year is 34.96%*8%=2.7968%, and the number of TOP issued in the second year is 20 billion *2.7968% = 559 million. By analogy, the issuance of TOP will decrease year by year until it reaches 2%. So at the first year, you will get the most rewards.
About Mining Reward
There are three types of miners on the TOP mainnet: edge, validator and advance miner. You can apply to become a validator and advance miner at https://www.topstaking.io/.
Different types of miners in the TOP mainnet have different returns. 2% of the total rewards, which are all performed by edge miners; the rewards that can be obtained for audit work account for 30% of the total rewards (including voting), and are performed by advance miners; the rewards for verification work are 60% of the total rewards, and are served by validator miner and advance miner.
Calculated by $TOP=$0.0032, we have estimated the mining ROI.
*Factors affecting the return of advance miners:
1. Node deposit (the initial default is 1 million, miners can add deposit when he get the mining rewards)
2. Votes (the more votes, the higher the stake, the higher the return)
3. Reputation score (Do not exit the network maliciously, the longer the node is online, the higher the reputation score)
How to Mine?
The consensus mechanism of the TOP mainnet is PoS, that is, staking is mining. There are two specific ways to participate:
1. To become a miner, you need to operate on the computer. More specific process, please refer to the below.
2. Become a voter. Vote to advance miners to get mining dividends.
Miner Tutorial
Become a TOP miner from https://www.topstaking.io/
Miner Documents: http://developers.topnetwork.org/
New to mainnet, please refer to ‘Get Started On TOP Network’.
Advanced opearation, please refer to:
http://developers.topnetwork.org/Tools/TOPIO/CliUsage/Overview/
Previous Mining Tutorial
1. How to choose a reliable cloud server:
https://medium.com/top-network/how-to-choose-a-reliable-cloud-server-for-top-mining-54f34f6d837e
2. Become a Miner on TOP Staking website:
3. Check mining rewards from TOPScan:
How to Vote
Voting is the easiest way to mine in the TOP mainnet.
1. No tickets yet?
Method 1: Go to https://www.topstaking.io/, select ‘voter’, click on ‘Start Staking’, and obtain the corresponding number of votes by depositing TOP. The longer the stake period, the more votes will be obtained.
Method 2: Download HiWallet from www.hiwallet.org, and select ‘TOP Staking’ to participate.
2. I already have votes, how do I vote?
At present, there are already 200+ advance miner in the mainnet. How to choose the right miner to vote to maximize your return, the followings are some tips:
A. It is best to choose a miner that you are familiar with. The miner can adjust the dividend ratio once in 14 days. If you don’t notice, it will affect your vote return. You also need to pay attention to your daily income.
B. Not all miners with a high dividend ratio have the highest voting return. First, calculate the percentage of votes you voted in this miner, look at the miner’s stake value, reputation score, mining revenue, etc., and calculate how much you can get in its mining rewards. Comprehensive evaluation is needed.
C. The miners of the Telos foundation are relatively stable and will not adjust the dividend ratio. The initial idea is to give most of the mining proceeds to voters, so it can be considered.
D. Voters can cancel their vote at any time and vote for other miners, but the mapping is not completed at present, so the voting cost is relatively high, please operate when the handling fee is low.
All in all, mining is the best investment right now. What we enjoy is the return. When the price drops, we have more TOP, which can neutralize the risk. When prices rise, we can also bring a wave of comprehensive increases in wealth!
The TOP mainnet has been upgraded, the core code has been open source, and there will be more exciting actions in the future, which will inevitably provide better value support for TOP! Become a miner and enjoy the mining profits!
