Conflux
ConfluxCFX
$ 0.06716Latest price
-3.59 %Change 24H
$ 377.29 MMarket cap
CFX 419.30 MVolume 24H

Conflux mining

Algorithm

Octopus

Difficulty

4083651856306

Block time

0.4976s

Hash rate

8206695852704

If you are looking to mine Conflux, keep in mind that before you do so, invest some time into researching if your setup will actually generate you any profit. Confluxs price can fluctuate and the amount of miners also plays a great deal in your chances of making a profit. At the current price of CFX, consider how much worth it setting up a mining rig would be. Hardware that would be most powerful for mining would be ASICs which are unfortunately nowadays extremely pricey. If mining with a computer, a GPU won’t generate a large turnout but it might be something for the start when mining Conflux. Mining profitability charts can show you how much USD you can make for 1 Mh/s of hash rate. These charts also have the electricity expenses covered. Mining difficulty increases by the number of miners and every time the demand for a larger hash rate increases. Your hash rate is basically how much computing power you are providing for mining new blocks. This takes what is called "block time". The block time of Conflux is 0.4976 seconds so that's how long it takes the network to find a solution to the block hash. Confluxs algorithm is called Octopus. In our FAQ section you can find more info on the Octopus algorithm.

How to mine Conflux

What is an ASIC miner? ASIC mining rigs are machines made of a motherboard, ASIC chip and a cooling system. They're designed specifically to mine a certain cryptocurrency and they do it well. This hardwares purpose is to solve as many cryptographic puzzles at a time. The primary investment into one of these could get paid for in a few months, but there is still a large problem with noise, heat and power demand of these machines besides, they do break down and as the machine runs 24/7, they do wear out.

What is a hashrate. A hash rate is basically a scale of how many guesses for the puzzle your mining setup can make in a given amount of time. The rate is in hashes per second (h/s) and can be decadically moved up (KH/s, MH/s,...).

Conflux uses the Octopus algorithm for encrypting cryptocurrency transactions. These “puzzles” are then decrypted by miners who turn these computations into “hash” according to their mining hardware.

Ethash is used for encrypting Ethereum and Ethereum Classic. Ethash was built to be ASIC-resistant through memory-hardness (by requiring large memory, standart ASICs couldn’t decrypt the puzzles). Unfortunately for graphics miners, in early 2018 the first ASIC miners for Ethash were introduced on the market and Ethereum eventually lost its decentralization similarly like Bitcoin.

SHA256 (or Secure Hash Algorithm) was originally designed by the NSA back in 2002. Later the algorithm found use within the Bitcoin cryptocurrency and is what runs all Bitcoin based coins. SHA256 is a hash of 256 bits and is what miners decrypt using their mining setups which eventually validates blocks, for what miners are rewarded.

The Scrypt algorithm similarly to Ethash was designed to be ASIC-resistant, but unfortunately ASIC miners for Scrypt have entered the market and cryptocurrencies like Litecoin expect the same fate as Bitcoin or Ethereum.

Cryptocurrencies like bitcoin are already ASICs mined so nowadays mining these with a GPU is useless. If you consider that one of the best GPUs on the market go for around $400 and will give you only about 1 GH/s of power and an Antminer U2 which you’re able to get for around $20 on ebay will provide 2 GH/s, the difference is huge. Always calculate if your desired cryptocurrency is still worth mining on your type of setup.

GPUs are far better at handling parallel processing than CPUs. These computations are basically simple math problems at which GPUs are far better at solving. A CPU is nowadays only usable for mining coins which haven’t been destroyed by ASICs miners. Try calculating your turnout using online calculators like WhatToMine.

The DAG Epoch is what the Ethereum mining difficulty is called. In time, as the currency grows and the amount of miners increases, the mining difficulty grows. As the difficulty increases, also the memory requirements do. Mining with smaller GPUs has become impossible due to this feature which prevents ASICs mining.

Certain mining programs allow mining two cryptocurrencies like Ethereum and Pascal, Decred, etc. simultaneously. This allows you to maintain efficiency while mining both coins. When mining for example Eth+sia, mining both has almost no impact on the Ethereum hashrate. You’re basically getting two coins at once for the same power you provide.

FAQ

The Conflux block is mined every 0.4976. But this block is then divided between all miners. How long does it take to mine 1 block of Conflux for yourself depends on your hash rate, which is basically how powerful your mining setup is. For mining Conflux you will get the best results with using 0.
It is difficult to say how much does it cost to mine 1 block of Conflux because it depends on the price of your electricity. But in general, if you want to be profitable, you have to invest in specialized mining setups called ASIC. They are created for mining cryptocurrencies, and because of that, they have perfect parameters for this job together with high efficiency.
Although it is entirely possible to mine Conflux on your computer, you should consider investing in the ASIC mining setup if you are serious about cryptocurrency mining. Actually, the best way how to mine Conflux is the 0. Anyway, if you really want to go with the computer way, try to join some miner pool.
In the beginning, you can try mining Conflux at home with your computer. Once you get more experienced in mining, you can invest in 0. That is the best way how to mine Conflux. But make sure to check mining profitability charts, so you are not just burning money.
Mining Conflux on Android is straightforward. All you need to do is install an application called MinerGate. After you have installed it from Google Play Store, create an account, and you are ready to mine Conflux on your Android.
Unfortunately, it's not possible to mine Conflux on iPhone. Apple restricts it because mining caused damage to hardware. All the applications that were mining Conflux drained battery generated excessive heat, or put unnecessary strain on device resources, what is the reason it's now forbidden.
If you want to be a serious Conflux miner, the first step you should do is join a miner pool. They will help you with your setup and guide you in the beginnings. Then it would be best if you bought, of course, some 0 to get as much value as possible.
It's complicated to say how profitable is Conflux mining because it varies person from person. It depends on many variables like the cost of electricity, cost of a mining setup, taxes, etc. The best way you can do is to check the Conflux profitability charts. They will tell you how profitable is Conflux mining in your location.
A Conflux miner is just a computer. The main criterium you should look for is efficiency compared to electricity cost. Anyway, it's usually better to buy specialized, professional miners called ASIC. Or you can use 0, which is the best way how to mine Conflux.
The best way to start with Conflux is to start from the beginning - that means mining. This way, you get your hands dirty and get some super relevant experience with this cryptocurrency. For mining Conflux, we recommend 0 as the best way how to mine.

What is Conflux?

Conflux
Coin rating:
Total rating: 256 Avg. rating: 3.45