BitcoinNova(BTN) mining strategies, mining pool mining machines, algorithms

Algorithm Introduction

BitcoinNova (BTN) operates on the CryptoNight-Lite algorithm, which is a variant of the CryptoNight algorithm originally developed by the creators of Monero (XMR).

The CryptoNight-Lite algorithm is designed to be suitable for CPU and GPU mining and is resistant to ASIC mining. This promotes a more decentralized mining ecosystem by ensuring that a wider range of individuals can partake in the mining process rather than it being dominated by individuals or companies with high-end specialized hardware.

However, it's crucial to keep in mind that technological advancements and changes to the protocol can happen over time. For the most recent and detailed information, you should always refer to the project's official documentation or credible news sources.

Mining Pool Introduction

BitcoinNova is a decentralized

cryptocurrency

that uses the CryptoNight-Lite algorithm for mining. Its key features are privacy, decentralization, and open source.

A BitcoinNova mining pool is a group of miners who combine their computational resources via a network to enhance their chances of obtaining BTN. Together, they collaboratively solve complex mathematical problems. When a new block is found and added to the BitcoinNova blockchain, the reward is divided among the mining pool participants based on their contributed computational power.

BitcoinNova mining pools differ in payment methods, fees, stability, user interface, and security measures, among other things. As a miner, it's important to thoroughly research each pool to find the one that best fits your needs and resources.

Please bear in mind that participating in any mining activity comes with substantial costs and potential risks, such as high power consumption, the need for specialized hardware, and exposure to the volatility of cryptocurrencies. Therefore, before beginning to mine BitcoinNova or joining a BitcoinNova mining pool, it is critical to understand these risks and make an informed decision.

Mining machine introduction

BitcoinNova mining involves leveraging computational power to process transactions and secure the BitcoinNova blockchain network. Here's some information regarding BitcoinNova mining hardware:

- BitcoinNova utilizes the Cryptonight Lite algorithm, designed to be resistant to ASICs (Application-Specific Integrated Circuits) and efficient for CPU (Central Processing Unit) mining.

- CPU Miners: Due to the Cryptonight Lite algorithm, CPUs are likely to be the most effective hardware choice for BitcoinNova mining. Higher-performance CPUs are suggested for more efficient mining.

- GPU Miners: You can also mine BitcoinNova using GPUs (Graphics Processing Units), although the effectiveness may be dependent on the specific GPU and overall setup you have.

- ASIC Miners: ASICs are typically not ideal for mining BitcoinNova due to the ASIC-resistant nature of the Cryptonight Lite algorithm.

Before you start mining BitcoinNova, consider the cost of the mining hardware, power consumption, and the current market value of BitcoinNova. Remember to take into account the mining difficulty and block rewards when calculating potential profitability. Lastly, ensure your chosen hardware is compatible with BitcoinNova's mining requirements.

Mining Tips

Choose Mining Server BTN( Europe\USA\China)

Step 1 - Register

Register or login to get your account address.

Step 2 - Create a Wallet (BTN)

Currently, there is no wallet with native BTN support. You could generate a wallet address on a

crypto exchange

, for example XeggeX. We recommend to use an Ethereum wallet that supports custom RPC, for example Metamask. Add a custom network using this tutorial and BTN network details.

Network Name: BTN-mainnet

New RPC URL: https://rpc.bitnet.money

Chain ID: 210

Currency Symbol: BTN

Block Explorer URL (Optional): https://btnscan.com

After that enter your BTN 0x address on Wallets page for payouts.

Step 3 - Download mining software

Quick start: Download ready to go package of the GPU Miners Software (zip password: k1pool).

For Nvidia GPUs we recommend T-Rex or GMiner.

For AMD GPUs we recommend lolMiner or GMiner.

You can get download links at Mining Software page.

Step 4 - Edit the bat file

Quick setup: Generate ready-to-go .bat file on Dashboard.

If you have downloaded miners.zip in previous step - replace Kr_WALLET with account address you got on Step 1.

If you want, you can change RIG_NAME in the bat file. Specify the name of the rig as you want it to be shown in miner's statistics page. This field is optional.

Length of RIG_NAME - 32 characters maximum. Use English letters, numbers and symbols “-” and “_”.

Config for T-Rex:

t-rex -a ethash -o stratum+tcp://eu.btn.k1pool.com:3282 -u Kr_WALLET -p x --worker RIG_NAME

Config for Gminer:

miner --algo ethash --server eu.btn.k1pool.com:3282 --user Kr_WALLET --worker RIG_NAME

Config for lolMiner:

lolMiner --algo ETHASH --pool eu.btn.k1pool.com:3282 --user Kr_WALLET.RIG_NAME

Hash Power Rental Services

Our pool works with Hash Power rental service Miningrigrentals.com.

Settings for Miningrigrentals.com:

Name:

Type:

Pool Host:

Workername (-u):

Password (-p): K1Pool BTNDagger-Hashimoto (Ethash)eu.btn.k1pool.com:3282Kr_WALLETx

Mining FAQ

What hardware do I need to mine BitcoinNova？

BitcoinNova uses a proof-of-work algorithm known as CryptoNight, which is ASIC-resistant, therefore, it can be mined using a CPU or GPU.

Should I join a mining pool or mine independently？

Mining in a pool can provide more regular returns as your mining power is combined with that of other miners. Independent mining could potentially yield higher rewards if you solve a block, but they will be less frequent and unpredictable.

What mining software should I use？

Several mining applications are compatible with the CryptoNight algorithm used by BitcoinNova. These include XMR-Stak, XMRig, and Claymore's CryptoNote CPU miner.

How do electricity costs affect BitcoinNova mining profitability？

The cost of electricity is a significant factor in mining profitability. The more power-efficient your hardware, the less your ongoing costs, and the higher your profits.

How is mining income calculated？

Mining income is primarily determined by the current price of BitcoinNova, the block reward, your hash rate (compared to the total network hash rate), and your hardware and electricity costs.

How can I store the BitcoinNova I mine？

You can store your mined BitcoinNova in any wallet that supports BTN.