Conflux (CFX) mainnet has entered a new phase: Tethys network is up and running, and its open mining just started. Looking to contribute to Conflux and receive rewards for helping secure the network? We now support Conflux mining. Let’s mine together!
In this comprehensive mining guide, you’ll gain not only an understanding of the Conflux ecosystem and how it works, but also a detailed and actionable process for starting your Conflux mining journey!
What is Conflux mining?
Conflux is a next-generation blockchain system with a novel consensus protocol powering a highly scalable cryptocurrency and smart contract system.
Conflux provides significant performance improvements by processing parallel blocks with a special DAG structure called a TreeGraph that allows miners to incorporate and process transactions in all concurrent blocks instead of having to compete for the longest chain.
The Conflux network operates on an account-based model similar to Ethereum and supports a modified version of Solidity and the EVM for its smart contracts so Ethereum smart contracts can be easily migrated to Conflux.
There are no public sales of this project. Its genesis supply is 5 billion CFX, which will be unlocked gradually. After Tethys is live, holders can convert its FC token 1:1 to CFX. The other way to get CFX is by mining.
During phase II of its mainnet, Conflux organized a total of 14 mining testing activities, with 5,000+ miners running 4,800+ nodes participating.
|Total supply||5 billion CFX genesis supply + mining rewards|
|Block time||0.5 seconds|
|Current block rewards||7 CFX|
|f2pool mining community||Reddit channel|
|f2pool server address||stratum+tcp://cfx.f2pool.com:6800|
For further protocol specifications, check the official technical documentation.
The economics of mining
Conflux miners will receive block rewards for contributing mining shares. The block reward is set at 7 CFX and will remain constant for the first four years, after which it will decrease at a quarterly rate of 0.958, halving every four years until the base reward reaches 1.75 CFX per block in 2032.
Conflux’s mining is more efficient: all mined blocks are used to secure the network. No discarded blocks means less wasted energy. Thus, on Conflux, there will be no orphan blocks or uncle blocks. Reducing operating costs is crucial for long-term miner sustainability and network security.
Another notable feature of Conflux mining is that blocks are generated much faster than in traditional blockchains such as Bitcoin and Ethereum. This means miners have more chances to mine a block in a given period of time. There are two blocks generated every second, or about 172,800 blocks every 24 hours, with a daily production of 1,209,600 CFX.
On the Conflux network, miners receive block rewards for all blocks generated, with some penalties that penalize selfish mining and incentivize cooperation among miners to follow the consensus protocol.
Please note: Like Ethereum, the total supply will continue to grow with time.
What hardware do I need to mine Conflux?
The mining algorithm Conflux uses is called Octopus. Octopus is an ASIC-resistant memory-hard algorithm, which means you can use GPUs to participate in Conflux mining.
Current Conflux mining software mainly supports NVIDIA GPUs. Please note that GPU with memory more than 4GB will be required one week after mainnet Phase III launches. This requirement will grow linearly at a rate of 1 to 1.5GB every year.
How do I set up the software and create an account?
Step 1: Create a wallet address
Creating a wallet address is always the first step when diving into a new blockchain network. You’ll need a wallet address to check and receive payouts to mine Conflux with f2pool.
You can choose to run a full node wallet or use another wallet solution. We recommend the official web browser wallet or Cobo Wallet. You can also choose an exchange wallet address like MoonDEX or MXC. Note: You should always do your own due diligence when choosing a wallet provider or exchange.
Step 2: Create an f2pool account
You’ll need to create an f2pool account before mining Conflux. If you don’t have one yet, please click here to register.
Set a username. This will be required for configuration. You are free to create multiple subaccounts to monitor your workers/miners.
Now add your Conflux wallet address created in Step 1 and add enter it in the payout settings. You can set a payout threshold and check hashrate changes and your rewards once you start contributing shares.
You can add or change your payout address in your Payout Settings. f2pool distributes mining revenues on a daily basis to every user who reaches the payout threshold, which is 10 CFX.
Step 3: Get your software environment ready
Once you have the required hardware, an f2pool username, and a Conflux address ready, it’s time to set up your software environment.
The current Conflux mining software requires a Windows or Linux system.
Step 4: Configuration
After you have downloaded your chosen mining software, uncompress it, find the
start.cmd file, right click on it, and click
Copy the text
Replace the file’s existing commands with the commands from the chart below that correspond to your chosen mining software.
|Bminer||bminer -uri conflux://
|NBMiner||nbminer -a octopus -o stratum+tcp://cfx.f2pool.com:6800 -u
Enter your username
username to the f2pool username you generated in Step 2. Set
worker_name to your device name, e.g.
If you’re using multiple rigs, setting informative worker names can help you identify the right devices when your hashrate decreases or a machine goes offline.
Run the file
Save your changes, close the editor, and double click on the
start file. You will now connect to the pool and start mining!
How do I check my rewards?
Now that you’ve started mining, you can calculate the revenue your devices are generating. We’ll also give you an overview of how fees and payouts work with f2pool.
Check the block reward on-chain
Visit the Conflux block explorer Confluxscan to get a better understanding of the decentralized world you’re powering with your hashrate. Input your wallet and transaction details to find on-chain information, such as payouts from f2pool.
Calculate what you can earn
Measure your revenue
The number of coins you can earn is primarily based on how much hashrate you have. You can measure estimated daily revenues using your Mhash/second to calculate the number of coins you can mine and multiplying this number by the current exchange rate for your target currency (e.g. USD or EUR). You can use this hashrate conversion tool if you prefer other units than Mhash/s.
f2pool calculator tool
You can use our calculator tool to easily estimate your potential revenue from popular mining machines.
Verify your payouts from f2pool
Once your device has started mining and submitting data to the pool, you can access real-time reward records from f2pool.
View your records
As long as you’re submitting your hashrate successfully, you will receive payouts from f2pool.
To view your real-time Conflux mining payout records, visit the f2pool website and sign in and view the records.
f2pool app is also convenient for you to view the rewards.
f2pool calculates rewards using PPS (Pay Per Share) and charges 3% from your rewards as commission. When the coins in your account reach the minimum threshold of 10 CFX, you will receive a payout within 24 hours.
Start mining today!
Now that you have all the info you need, it’s time to start securing the network!
To stay updated with the latest Proof of Work news and developments, follow us on Twitter!