Although the profit margin of mining has declined to about 12% annually in recent years, it remains the circle with the most abundant funds in the cryptocurrency world.
CKB adopts a PoW (Proof of Work) scheme, meaning everyone can mine by setting up mining machines and algorithms!
This article introduces the five core points of CKB mining.
CKB Mining Algorithm and Consensus Mechanism
CKB adopts a PoW scheme, and its consensus protocol is NC-Max, an upgraded version of Satoshi Nakamoto's consensus. NC-Max not only retains the advantages of NC but also enhances performance limits and the ability to resist selfish mining attacks. The mining algorithm of CKB, Eaglesong, is independently developed by the Nervos team and is characterized by efficiency and security.
2. Mining Difficulty and Adjustment Targets
The mining difficulty of CKB is adjusted every Epoch (about 4 hours) to ensure network stability and the rationality of block times.
The current block time adjustment range is 8s to 48s, with a target block rate of 2.5%.
Currently, the mining difficulty of CKB has reached 2.29 EH, marking further improvements in network security and stability.
3. Mining Reward Mechanism
The block rewards for CKB miners include basic (issuance) rewards, secondary (issuance) rewards, submission rewards, and proposal rewards.
Basic rewards come from CKB's primary issuance, with a total of 33.6 billion CKB, approximately halving every four years, similar to Bitcoin's issuance mechanism.
Secondary rewards come from CKB's secondary issuance mechanism, which is related to the on-chain state occupancy rate.
Submission rewards and proposal rewards come from the transaction transfer fees on the CKB chain, which is a product of the two-step transaction confirmation scheme adopted by NC-Max to eliminate block propagation delay bottlenecks.
4. The Current Status of CKB Mining and Mining Machine Selection
CKB mining began on May 18, 2019, experiencing a transformation from CPU mining to GPU mining, and then to FPGA and ASIC mining machines.
Currently, mining CKB requires purchasing ASIC professional mining machines developed by third-party manufacturers.
Due to the rapid update of ASIC mining machines, it is recommended that miners check third-party CKB mining pool pages to see which mining machines can mine CKB for the latest information on mining machines and mining yield.
5. Mining Pools Supporting CKB
Due to a small amount of computing power being unable to win block rewards in CKB mining competition, mining pools have emerged.
Mining pools allow miners with CKB computing power to join together, collaborate to produce blocks, and finally distribute rewards according to certain rules.
Currently, several mining pools support CKB mining, and miners can choose suitable pools based on their needs and preferences.
Final Words
Mining is an important part of the Nervos network, providing rich profit opportunities for miners and making significant contributions to the security and stability of the network.
