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Solo Mining
Bitmark has been crafted to distribute rewards fairly giving solo miners a chance at fairly mining their own blocks. This commitment has been renewed with the 8mPoW fork, democratizing mining.
You can predict how often you will generate a block on average with the following calculation
Each algo produces about 90 blocks per day, for a combined total of 720 blocks per day.
(90/network-hashrate) * your-hashrate = number-of-blocks-per-day
As an example, if the network-hashrate is 1,270 MH/s, and your-hashrate is 6MH/s we can calculate
(90/1270) * 6 = 0.4252 blocks per day (so one block every 2 or 3 days)
Since you cannot mine a partial block, you should produce about 2 or 3 blocks per week, on average.
Finding blocks is a random occurrence, if you mine for 7 days you should find the average blocks found per day is close to the average you have calculated, but since it is random you may mine 1 on one day, none another and 2 on another.
Remember the network hashrate changes often, account for this in your estimations.
In order to solo mine you need to configure your Bitmark client to run as a server with it's RPC port open. You may wish to run bitmarkd over the command line, or simply leave bitmark-qt open.
Edit your bitmark.conf file to specify the following options
rpcuser=<your_username>
rpcpassword=<a_very_long_and_secret_password_here>
rpcallowip=192.168.1.*
daemon=1
server=1
miningalgo=<pow_algo_id>
Proof of Number
Work <pow_algo_id>
Algorithm
————————————————————————————————————
SCrypt 0
SHA256d 1
Yescrypt 2
Argon2d 3
X17 4
Lyra2REv2 5
EquiHash 6
CryptoNight 7
Then run bitmarkd or bitmark-qt.
-
server, tells your bitmark client to listen for rpc requests -
daemon, tells it to run in the background -
rpcallowip, specifies which ip addresses are allowed to connect to the rpc interface -
rpcuserandrpcpasswordspecify the authentication details your mining software must use
Launch your preferred scrypt mining software and point it at
http://127.0.0.1:9266/
Where 127.0.0.1 is the ip address of the computer you configured bitmark on in step 1.
9266 is the default RPC Port of bitmark, this can be changed if you wish.
Remember to pass in your username and password. Refer to your mining software instructions for details on how to do this.
Found blocks you can either call ./bitmard listtransactions or check your transactions if using bitmark-qt to see a full list of your transactions, including blocks found by the mining process.
Maturity Bitmark is configured with a reward maturity of 721 Blocks, roughly 1 day. The reasons behind this decision and others can be found by following the link.
- The full list of bitmark configuration variables can be found by calling
bitmarkd --help, or selecting "Command-line options" under the "Help" menu in bitmark-qt. - A relatively up to date list of scrypt mining software can be found on the litecoin wiki