Cheng Wang, a data scientist based in Switzerland, launched Alephium (ALPH) in the year 2021. It is a decentralized blockchain platform that aims to provide scalability for thousands of transactions and secure solutions for decentralized applications (dApps).
Alephium uses the fundamental concepts of Proof of Work and UTXO. The platform is built on a combination of DAG data structures and a comprehensive sharding algorithm called BlockFlow. Here is a brief guide on how to mine Alephium in just few easy steps.
Is Alephium (ALPH) Mining Profitable?
The profitability of mining ALPH depends on several factors, such as the current price of ALPH, the difficulty rate of the network, the cost of electricity, and mining hardware. Before starting to mine ALPH, you should calculate the cost and rewards ratio; the price should be lower than the rewards received. You can evaluate your future revenue by using online profitability calculators.
How to Mine Alephium (ALPH): Our Top 5 Recommendations
Choose a Wallet
The first step is to select an appropriate wallet for storing your ALPH coins. The wallet should be secure, reputable, and easy to use. Some popular wallets that are compatible with ALPH are-
- Official Alephium wallet ( Download from ALPH website)
- Atomic Wallet
- Trezor
- Ledger Nano S
Select A Mining Software
Mining software is required to operate the mining process. It enables you to manage and monitor the parameters of mining ALPH. For ALPH mining, you can connect with the software on the Alephium website. You can choose between Alephium Miner, TREX, and Chia Miner software, which is supported by Windows, iOS, and Linux.
Get All The Required Mining Hardware
Since Alephium does not wholly use the Proof-of-Work consensus mechanism, you can use a CPU or GPU to mine ALPH. Alephium is one of the few coins that can be mined with a CPU and GPU and provide profit. There are some minimum specification requirements for the CPU or GPU, which are
- CPU: Intel Core i5 or higher, or AMD Ryzen 5 or higher (Higher Recommended)
- GPU: NVIDIA GeForce GTX 1060 or higher, AMD Radeon RX 580, Nvidia RTX 3070, and Nvidia RTX 2060 Super. or higher
- RAM: 8 GB or higher
- Storage: 100 GB or higher
Configure the Hardware and Software
To configure the mining operations settings, ensure the hardware and software are compatible. Install the software, find the .bat file in it, and open it in a text editor. Enter the username, password, and URL of your mining pool. For each piece of software and hardware, the command line template usually comes with the software; if not, you can find it through GitHub.
Join A Mining Pool
To increase your reward earnings, it is essential to join a mining pool. In a mining pool, miners pool their resources to receive faster returns and promptly distribute rewards. Some popular ALPH mining pools are Herominers, WoolyPooly and Alephium Pool.
Also read: Check Alephium (ALPH) Prices Live
Popular video guides on Mining Alephium (ALPH)
How Does ALPH Mining Work?
The consensus algorithm Alephium (ALPH) requires miners to validate transactions and add new blocks to the blockchain. Miners are randomly selected to validate transactions based on an underlying system, and the first miner to solve a mathematical problem and validate a transaction is rewarded with ALPH coins. Due to a combination of DAG data structure and a comprehensive sharding algorithm called BlockFlow, the process becomes energy efficient compared to other cryptocurrencies, which use Proof-of-Work consensus.
How Long Does It Take to Mine One ALPH?
The time taken to mine one ALPH depends on several factors: the hashrate of your mining setup, the difficulty level of the network, the bandwidth, and the hash rate of the network. The current hash rate of the network is 65.2938 TH/s.
How Difficult Is It to Mine Alephium (ALPH)?
The difficulty of mining ALPH depends on various factors, like the difficulty rate of the network and the computational power provided to the network. The current difficulty rate of the ALPH network is 4.1788P. The network difficulty level is adjusted regularly when more miners join the network nodes.
What All Do You Need to Mine Alephium (ALPH)?
1. Hardware:
You can mine ALPH with a CPU and GPU, but only a few models will provide you with acceptable profitability. This is because of the constant development of mining processes, which increases the difficulty rate. The minimum hardware requirement for ALPH mining is:
- CPU: Intel Core i5 or higher, or AMD Ryzen 5 or higher (Higher Recommended)
- GPU: NVIDIA GeForce GTX 1060 or higher, AMD Radeon RX 580, Nvidia RTX 3070, and Nvidia RTX 2060 Super. or higher
- RAM: 8 GB or higher
- Storage: 100 GB or higher
2. Software:
Choose mining software that meets the minimum requirement of the mining operation and is easy to configure. Alephium provides mining software on its website; you can use it to mine ALPH mainly. Other options include
- TREX
- Chia Miner
- BZMINER
- LOLMiner
(Supported on Windows, IOS, and Linux)
Top Wallets to Store Your Alephium (ALPH)
If you want to store ALPH coins securely without complications, you can go with Alephium’s official wallet. Some other top wallets to store your coins include:
- Atomic Wallet
- Trezor
- Ledger Nano S
Most frequently asked questions on Alephium (ALPH) Mining
When was Alephium founded?
Alephium (ALPH) project first released its whitepaper in 2019, and after the Testnet launch in 2020, the main net was launched in 2021. Cheng Wang, a data scientist based in Switzerland, founded the project. Alephium is said to be the first operational sharded L1 blockchain.
How long does it take to mine 1 ALPH?
The time depends on your hardware’s computational powers and the network’s hash rate. It would take 389 hours to mine 1 ALPH with the Nvidia RTX 3070 or 543 hours to mine 1 ALPH with the Nvidia RTX 2060 Super.
Is Alephium worth mining?
Alephium is a relatively new coin, and the dynamics of this coin are yet to spread in the crypto space. The current volume of ALPH is low; when the volume increases, the profitability will also increase. It is worth mining if the cost and rewards are low.
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