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How to mine toncoin on GPUs?

Author: LB 2021-12-12 1905

Toncoin is a very promising project with a lots of options for cryptocurrency miners as it initially supports PoW verification and the network gradually transforms into a PoS based infrastructure. The project has been initiated developers from Telegram and VK and it has a already received massive support from the Russian cryptocurrency community. Before proceeding to more detailed reports on the network itself, let's see how much miners are earning when mining toncoin!


For the sake of simplicity I'm not going to bore the reader with technical details. If you want to read more on how the toncoin network works, check out the project's official site at https://ton.org/.


The data I'm going to share in this short article is taken from a Russian cryptocurrency miner's Youtube video (https://www.youtube.com/watch?v=n7smAoKsnuE&t=99s). Serega Soleniy has assembled a mining rig with 6 Geforce RTX 3090 cards and started mining toncoin on these high performance GPUs under HiveOS. In one day he was able to mine 24 toncoins on six cards. The market price fluctuates around $2.5 at press time, so 24 coins would give $60 profit for 24 hours. This value is comparable to the profit of ethereum mining, so some say many Russian miners will switch their mining rigs over to the toncoin network. According to the video one Geforce RTX 3090 produces 3.298 GH/s, so 6 cards will give you 19.79 GH/s and currently this hashrate produces 24 coins per day in average.


How to mine toncoin?


The first step, as always is creating a new wallet. For that head over to https://ton.org/wallets and choose your favourite operating system. The most convenient one will be the web wallet. Don't forget to write down your seed phrases!


Now you have to copy your new toncoin wallet address and paste it into your HiveOS under Flight Sheet > Wallet Page. Here you have to choose toncoin and paste the wallet address into the corresponding box.


The second step is to find the Whales pool bot on Telegram (https://t.me/WhalesPoolBot) and you have to register your miner in the chat room. You will not be able to connect to the toncoin mining pool otherwise. In order to register your miner you have to paste your toncoin wallet address (the same one you specified in HiveOS). This configuration should work with danila-miner-2.1.4 in HiveOS. This miner can be downloaded from the following link: https://tonwhales.com/docs/miners/danila and you can obtain more information on how to set up the miner from different operating systems on this site.


The network uses a single SHA-256 hash function for verification (block generation). This implies two important things. First of all that ASIC miners in the bitcoin network cannot be turned into toncoin miners as they calculate double SHA-256 hashes. However this also means that while profitability stays on a high level there will be motivation to develop ASIC miners and consumer CPUs (and possibly GPUs) will gradually be eliminated from the network as only ASIC miners will be able to produce positive profits in the toncoin network.


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