Skip to content

Mining Overview

MarconiAdmin edited this page Jun 14, 2019 · 9 revisions

How To Mine

The easiest way to mine marcos is to run Marconi Miner. This is a fork of XMR-Stak which we've tweaked to work with Marconi Protocol. The miner supports CPUs as well as AMD and NVIDIA GPUs, and works on Linux and Windows. Mac OS is coming soon. Just point the miner at Marconi’s zero-fee mining pool and you’re done!

To protect the network while it grows there will be only two ways to mine initially:

  1. Join the Official Marconi Pool which charges 0% fees
  2. Host your own Mining Pool

The rationale is explained in greater detail in a previous blog post.

Miner Setup

Miner Platform Setup Guide
GPU Ubuntu 16.04 Setup Guide
GPU Ubuntu 18.04 Setup Guide
GPU CentOS 7 Setup Guide
GPU Windows 7 & 10 Setup Guide
CPU Ubuntu 16.04 Setup Guide
CPU Ubuntu 18.04 Setup Guide
CPU CentOS 7 Setup Guide
CPU Windows 7 & 10 Setup Guide

Mining Pool Details

  • Pays out multiple times every day based on proportional shares contributed

Hashing Algorithm

Proofs of work on Marconi’s global chain make use of the standard CryptoNight variant 4 hash function, sometimes also referred to as CryptoNightR. We use CryptoNight for its strong ASIC resistance and to put CPUs and GPUs on more equal footing. However, while the hash function hasn't been changed, there's one related thing which has: the blob of bytes that gets passed as input to the hash function. We construct this blob slightly differently than, for example, the way Monero constructs the hash blob. This change was for compatibility with the block header format of Marconi's global chain, which is much closer to Ethereum than to Monero. Hash rates are not affected. But it means that existing mining software is not immediately compatible with Marconi, even if the software supports CryptoNight hashing. However, if you have any existing mining hardware which works well for CryptoNight-based currencies--whether CPUs or GPUs--then this same hardware will be just as efficient when mining marcos. You can put your rig to work via the Marconi Miner software.

Block Rewards

For roughly the first three months after the main net launch mining rewards are 1 marco / block. This is to give the community plenty of time to configure and test their mining setup, and to keep things fair by eliminating any early-mover advantage. The block rewards will then increase substantially before reducing based upon the schedule below until it reaches a steady state of 3 marcos / block.

Starting Block Number Rewards / Block Estimated Time Period *
1 1 2019 - Q2
262,800 2 2019 - Q3
525,600 2 2019 - Q4
788,400 5 2020 - Q1
1,051,200 5 2020 - Q2
1,314,000 10 2020 - Q3
1,576,800 10 2020 - Q4
1,839,600 5 2021
2,890,800 5 2022
3,942,000 3 2023
  • This is the expected quarter when the starting block is mined which may trigger the block rewards to change

We are currently exploring an IEO towards the end of the summer. As part of these discussions we are finalizing token economics and have adjusted the mining rewards schedule based on feedback from exchanges and the community to have a more gradual ramp up and ramp down.

There were 225M marcos in the genesis block set aside for investors, team, community building, token sale, etc. Almost all of those tokens will unlock gradually over time and the total may even be reduced further by burning tokens (e.g. tokens not fully sold in a token sale). More details will be released shortly.

Specifications

  • Algorithm: CryptoNightR
  • Block Time: 30s
  • Block Reward: Adjusts over time
You can’t perform that action at this time.