eCash(XEC) mining strategies, mining pool mining machines, algorithms

Algorithm Introduction

eCash, also known as XEC, uses the Avalanche Consensus algorithm, an algorithm that combines both the Proof-of-Stake (PoS) and Proof-of-Work (PoW) systems. It is a newer consensus model that enables scalable and efficient decentralized systems in a probabilistic manner. Avalanche Consensus also allows for high throughput and quick finality. eCash aims to provide fast, secure, and low-fee digital money.

Mining Pool Introduction

XECeCash miners can join mining pools, which are groups of miners who share their computing power and split the rewards according to their contribution².

There are currently three mining pools that support XECeCash mining, and they have different features and fees. Some of the factors that you may want to consider when choosing a mining pool are:

- The location of the pool server, which affects the latency and stability of your connection.

- The payment scheme of the pool, which determines how the rewards are distributed among the miners. Some common schemes are proportional (PROP), pay-per-last-N-shares (PPLNS), and pay-per-share (PPS).

- The minimum payout of the pool, which is the lowest amount of coins that you can withdraw from the pool.

- The pool fee, which is the percentage of your earnings that the pool operator charges for maintaining the pool.

Here are some examples of XECeCash mining pools and their details:

- [XECeCash.com]: This pool is the official pool of XECeCash, and it uses the PPLNS scheme, which means that the rewards are based on the last N shares submitted by each miner, where N is a variable number. The minimum payout is 0.01 XEC, and the pool fee is 1%.

- [ZHash.pro]: This pool is a multi-currency pool that supports XECeCash and other Equihash-based coins, such as Zcash, Horizen, Hush, and Bitcoin Gold. It uses the PROP scheme, which means that the rewards are divided proportionally to the shares submitted by each miner. The minimum payout is 0.001 XEC, and the pool fee is 2%.

- [Mining-Dutch.nl]: This pool is a multi-currency pool that supports XECeCash and other cryptocurrencies, such as Bitcoin, Litecoin, Ethereum, and Monero. It uses the PROP scheme as well, and the minimum payout is not specified. The pool fee is 2%.

Mining machine introduction

eCash (XEC) mining, like many other cryptocurrencies, involves the use of computer resources to validate transactions and secure the network. The optimal type of machine for eCash mining would depend on several factors.

The commonly used hardware in

cryptocurrency

mining is usually ASICs (Application Specific Integrated Circuit) or GPUs (Graphics Processing Units).

- ASIC machines are specifically designed for cryptocurrency mining purposes, moulding them the most efficient mining hardware. However, these can be quite expensive, and not all cryptocurrencies can be mined using ASICs.

- GPUs, while not as efficient as ASICs, are more versatile, supporting the mining of various cryptocurrencies. They tend to be more affordable compared to ASICs.

When considering mining eCash, it's important to take into account the cost of the mining machine, the power consumption, and the current market value of eCash to determine whether mining would be profitable for you.

Mining Tips

eCash mining revolves around validating transactions on the blockchain and adding them to the ledger. Here are some tips for eCash mining:

- Understand the Protocol: eCash uses a proof-of-work protocol, which means miners require computational power to solve complex mathematical puzzles and add new blocks to the blockchain.

- Optimal Hardware: ASIC (Application Specific Integrated Circuit) miners are often the most efficient hardware for mining proof-of-work cryptocurrencies like eCash. ASIC miners are specifically designed for mining and provide the most efficient output.

- Join a Mining Pool: Due to the increased difficulty level of mining, solo mining can be a challenging endeavor. Joining a mining pool, where miners combine their computational resources to solve blocks more quickly and share the rewards, can be a more viable option.

- Energy Efficient Setup: Mining requires significant computational power which can lead to high electricity costs. It's important to keep energy efficiency in mind when setting up your mining hardware.

- Use Up-to-Date Mining Software: It's crucial to use the latest and efficient mining software compatible with your hardware. Updated software often contains improvements that ensure greater mining efficiency.

- Wallet Security: Once you mine eCash coins, you need a secure wallet to store them. It's recommended to use a reliable wallet and backup your private key.

Please remember, before starting your mining operations, ensure the profitability by taking into account all costs, including setup cost, energy cost, and potential returns depending on the current value of eCash. Also, the mining reward system and the market conditions could change quickly, hence, staying updated about these conditions is necessary to remain profitable.

Mining FAQ

Why do I need to set multiple ports？

We recommend that users set multiple ports to ensure stable and sustainable mining. Should one of them be inactive, the miner will switch to the next one automatically.

If my miner is disconnected, how to fix it？

The status will become active after the miner keep running for around 10 to 20 minutes.

If the worker keeps producing invalid shares, please check your settings on the dashboard.

If the issue remains unresolved after checking, feel free to send us a ticket.

Using a mining service providerUsing a mining service provider

Using a service provider has the advantage that it will handle technical setup for you, typically in exchange for a fee.

Running your own mining setupRunning your own mining setup

Rather than relying on a service provider, a miner can take on the responsibility of handling their own technical setup. The advantage is that you retain privacy, and full control of the operation by not relying on a third party.