Mining Cryptocurrency Explained
How does a antminer mining works? Mining is the process of creating individual blocks added to the blockchain by solving complex mathematical problems. The mining process is to verify the cryptocurrency transactions and show proof of work, this will add information to block on the blockchain. This act a ledger in mining transactions. Cryptocurrency mining here we going to look today is on Proof-of-work. Since the blockchain is decentralized, mining is uniquely different from central bank money printing and fiat creation.
How to setup an antminer mining machine?
Bitmain first created the Antminer in 2013, a product which has helped many companies to dominate the new hyper-competitive mining industry. Presently, Bitmain Antminers are responsible for around 70% of all Bitcoin mining. Antminers are simply Bitcoin mining hardware. They are considered to be the most powerful mining hardware in the world. There are Antminers for different cryptocurrencies, such as Bitcoin, Litecoin, ZEC, and Etherium. For mining Litecoin, Bitmain offers the Antminer L3++, the most powerful Litecoin miner and Bitmain Antminer L3’s successor. It has 580MH/s hashrate and a power consumption of 876W±10%. When running the L3++, a miner can make $178 a month mining Scrypt coin. Follow the below directions to setup your L3+ to mine LTC with Litecoinpool Mining Pool.
1) Installation of antminer
First step is to connect a PSU (Power Supply Unit) to your antminer. Plug in all the power cables from your power supply to the power headers found at the top side of the miner. One cable for the controller and the rest for the hash boards. Next connect a Ethernet cable to your miner and the other end to a router or switch device. Then turn on your PSU and the miner will power up.
2) Configuration of Network Settings
First you need open a web browser and enter the miner’s IP address. A dialog box will pop up which requires you to enter the login credentials; both username and password are “root”. Click the “Network” tab and choose “Static” from the Protocol dropdown list. Key in the IP address, subnet mask, SWG, DNS, then click “Save&Apply”.
3) Mining Pool Setup
You may join a mining pool because you’re more likely to be rewarded for your work. However, choosing a mining pool can be challenging. We need to know the cryptocurrency or maybe its algorithm to choose suitable mining pool. In this case we got choose litecoinpool. These are things we should look up before choosing mining pool:
- You may need to buy specialized, expensive equipment to compete in a mining pool.
- It’s important for mining pools to be fair in work assignments and transparent in their operations.
- Payout and fee schemes are essential because they can eat into your profits.
- The combined mining pool hashrate is more important than its size, but the size of the pool also helps you gauge its trustworthiness.
Configure your miners. Connect your miners to the server(s) closest to you (most miners allow you to specify more than one URL for failover):
- (US East Coast)
- (US West Coast)
If connecting from East Asia, the US West Coast address should be preferred. If you are behind a firewall, you can also access Stratum on port 8080.Mind that some software (notably some versions of the web interface of Antminers) requires you to omit the protocol prefix (stratum+tcp://) when entering URLs. The default worker credentials are:
123 If you want, you can create additional workers on your account page, with names and passwords of your choice. Both the username and the password are case-sensitive. Never use your account password for any of your workers.
4) Monitoring revenue and miner performance on Mining Pool
Once you’ve started hashing type in your wallet address at the top of the search bar and save the settings. For the miner performance, we need to check the temperature, hash rate and ASIC status.
5) Operation and Maintenance guide
1. Hashrate Check
- Check the hashrate of the miner every two hours. When discovering miner with abnormal hashrate, it shall be solved in time, and those cannot be processed on the site shall be removed to repair or return to the factory.
2. Temperature Check
- Measure the temperature at the air inlet of the miner every day, and try to control it at 10 to 25 degrees Celsius. If the temperature near the air inlet of the miner exceeds 30 degrees Celsius, it will easily cause high-temperature protection and 0 hashrate, and the temperature needs to be lowered in time.
- It is possible to check whether there is warm air backflow at the position of the miner, and it needs to pay attention to the fact that the small fan of some third-party power supply and the fan of the miner are opposite to each other, causing temperature superposition; at that time, the power supply direction needs to be repositioned.
- If the hardware of the miner with high-temperature protection and 0 hashrate is not damaged, the hashrate can be restored after lowering the ambient temperature and turning on the miner. The mining farm needs to formulate a plan to lower the ambient temperature as soon as possible, such as installing air-condition, installing water curtain, installing a negative pressure fan, and making hot and cold isolation (materials such as plates are used to block the warm air from flowing back to the cold air area of the air inlet).
3. Visual Check
- Check whether the air inlet of the miner is blocked by any garbage or paper scrap every day, and clean it up in time to avoid affecting the air volume and causing high- temperature protection and 0 hashrate.
- Check whether the indicator light of the miner is normal every day, and the red light indicates abnormality that shall be processed. Check whether the two fans of the miner are running. If the fan blades are found to be damaged or not running, they shall be replaced in time; you can also check whether the fan is faulty from the backstage Kernel log. When replacing the fan, be careful not to install it reversely, otherwise, the air will not be discharged from the miner.
- Check whether the network cable is damaged and cannot be used, and whether the power cable is abnormally overheated. It is not recommended to use 1/2 power cables, which are easily overloaded. It is recommended to purchase power cables of 10A or above at 220V, and the length is within 1.5m.