The Pegnet currency is the proof of stable income based on work, shared by the small editor, but different from other stable currencies, it is the largest legal tender with more than 30 synthetic assets and 14. Pegnet solves the problem that you need a counterparty because you are in your own wallet and do not deal with anyone else. So, what is the mining of Pegnet coins? How to dig Pegnet coins? The following content will answer for you.

1、 What is Pegnet coin mining?

When it comes to the working mode of Pegnet mining, it is very different from Bitcoin or Ethereum mining in many aspects. However, it does follow the same 10 minute block time structure as Bitcoin, but its power consumption is much lower. Pegnet uses LXR proof of work. This hash algorithm is a central processing unit (CPU) mining, because its main memory binding is 2 GB memory, which is the minimum requirement. In fact, it is said that this algorithm only consumes 10% of the CPU normally consumed when idle, which makes it environmentally friendly. This means more access to ordinary people and truly decentralized currencies.

2、 How to mine Pegnet coins?

Since this coin requires some powerful power, it is recommended to use the ore pool for mining. If you use an operating system other than Windows, you can join Pegnet Discard for help.

Step 1: Download and install the Factom wallet

First, you need to download the Factom Enterprise wallet for Windows, Mac, or Linux. Make sure to download correctly according to the operating system. Then "double click" the downloaded file to install the wallet. At this time, a Windows defense warning may pop up. Select Continue and "Select Still Run". The following steps are required after downloading the wallet:

1. On the next screen, "Select the address book tab on the left" to create a new wallet.

2. Enter the address book menu in the lower right corner of the wallet "Select New Address Button".

3. Give your wallet a proper nickname for easy identification later.

4. From here, refresh the wallet through the "Double click Address Book" option in the tab menu.

After completion, you will have a new wallet address to receive mining rewards similar to the following wallet address. complex

Make your wallet address for the next steps.

Step 2: Download and install Pegnet Miner

1. To set up Pegnet Miner, you first need to "create a folder on the home screen of your computer and name it Pegnet".

2. Read the Getting Started Guide to the Mine Pool of your choice and "Download Pegnet Miner". Make sure to download it correctly for your operating system. After downloading, "Move files to Pegnet desktop folder" was created in the previous step. Next, right-click the file and rename it "orax cli", then press ENTER to save.

3. Use the Windows search bar at the bottom left of the screen to enter Run or cmd. Select the command prompt option from the pop-up menu, right-click it and run as administrator. Then open a terminal window.

4. Next, you need to change the directory in the command terminal to the folder where the miners are located. This can be done in many ways, but the easiest way is to go back to the folder where the miner is located, right-click the folder named Pegnet at the top of the folder, and then click Copy Address.

5. Fill in your email and password, and make sure to save your password and correct email so that you can log in to the mine later.

Note: When asked to enter a payment address, copy and paste the wallet address you created in the previous step, and then

Right click in the window to paste the address.

6. Next, you need to register your miners in the mine pool (only once). To do this, type "orax-cli.exe register" in the terminal window and press ENTER. Then fill in your email and password, and make sure to save your password and correct email so that you can log in to the mine later.

Note: When you are asked to enter a payment address, after you copy and paste the wallet address created in the previous step, you need to right-click in the window to paste the address.

7. After registration, you can start the mining process by copying and pasting the command "orax-cli.exe mine", and then press ENTER. Please note that the first time you run the mining machine, it takes about 5-30 minutes to run the benchmark and configuration. By default, the miner uses all available cores, but this can be adjusted by adding the - n flag at the end of the mining command. The example command of the 2 core is: orax cli exe mine-n 2

After the benchmark test and configuration of the mining machine is completed, log in to the mining pool using the email and password used when registering the mining machine; To add other computers/mining machines to your pool, just repeat the registration process. Note that this does not create a new account when the terminal prompts, but selects e as the existing account. Therefore, it is recommended to use the same email and password as before.

summary

The above contents respectively introduced the operation principle of mining Pegnet coins and the method of mining Pegnet coins. In addition, the working principle of Pegnet mining is to use the miners on the network as a prediction machine and report the prices of these 30 main synthetic assets every 10 minutes. So the network basically gets the average price of these synthetic assets from miners every ten minutes. In addition, the Pegnet Pow Agreement requires miners to first submit asset prices through calculation.