Arweave Minimalist Mining Tutorial

Original title: "Arweave Minimalist Mining Tutorial"
Original source: Lao Lu's blockchain notes

Note: The project is still in the testing phase, and the team said that mining may not be possible due to insufficient storage space.

In addition to Filecoin, decentralized storage projects can also include Storj, Sia, and Arweave. The first two are old coins that have also been popular, while Arweave will have more opportunities. Arweave completed US$8.3 million in financing in March. Investors include a16z, USV, and Coinbase. Therefore, while paying attention to Filecoin, other storage projects such as Arweave will also be deployed.

• Persistent and verifiable storage

• Filecoin-like mining

• Coinbase

Mining Configuration

4 Core/8G RAM/ 512G-1024G

Without further ado, how do we dig?

1. Download the Arweave plugin wallet and get the Arweave address.

2. Deploy Arweave mining server with one click through Ankr

The default configuration is fine. Although the official website says that it should not be less than 8G RAM, 4G is currently sufficient for synchronization. The regional default is fine.

The Name is whatever you want, and the Arweave Wallet Address can be the address generated by the plugin wallet.

The payment method supports USDT/ANKR/credit card. Using USDT (pre-charge) makes it easier to calculate the cost. Ankr currently has no discounts, and credit cards have handling fees. 89/month is not expensive.

After setting the mining address and payment method, click Deploy Node to start the deployment. The first node is free for the first 24 hours.

After about an hour of waiting, the node will change from being deployed to being synchronized. The synchronization process is very slow and can take more than ten days.

After half a day, 1% was reached. It turns out that 8G RAM is not necessary, but of course Storage needs to be expanded.

Advantages

1. One-click deployment of mining server

2. Pay as you go

3. More economical than AWS

Revenue

Unknown, need to wait for the synchronization block to be completed, start mining and then calculate the daily income. The way to get more chips in the short term is definitely not mining. Mining may be one of the lowest-cost ways to obtain chips, and participation is important.

Related Information

• On November 6, 2019, the blockchain storage protocol Arweave completed a $5 million financing, led by a16z

• On March 6, 2020, the blockchain storage protocol Arweave completed a $8.3 million financing, with investors including a16z, USV, Multicoin Capital and Coinbase

• On May 31, 2020, nft42 launched the decentralized NFT minting platform InfiNFT Alpha version, using Arweave and IPFS to store files

• According to Viewblock data statistics, as of May 31, 2020, Arweave has 490 nodes, 15,746 addresses, and Data Stored is approximately 648.43 GB.

Related links

Arweave official website: www.arweave.org
Plug-in wallet: https://chrome.google.com/webstore/detail/iplppiggblloelhoglpmkmbinggcaaoc

Block explorer: www.viewblock.io/arweave
General mining tutorial: www.arweave.org/mine/start
Ankr One-Click Node: www.ankr.com/product
Coingecko: www.coingecko.com/en/coins/arweave

Original source: https://mp.weixin.qq.com

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