In this article, we want to tell you about the miner you need for obtaining Dash, what settings are required, and how to use it effectively.
But first, what is Dash? Dash is a versatile cryptocurrency with a focus on transaction speed and privacy (confirmed within seconds). What is required to mine it successfully? This cryptocurrency differs from Bitcoin in its algorithm; while Bitcoin uses the SHA-256 algorithm, Dash uses X11.
A Bit About ASIC
Networks like Zcash, Monero, and Ethereum are mined using GPUs or graphic processing units. However, coins like Bitcoin or Dash conduct this process using specialized computers called ASIC. These devices are powerful and have a single purpose – mining cryptocurrencies.
Now, a question arises: what's the benefit of such an expensive venture when it's easier to purchase coins? Nevertheless, if done consistently, such a computer can significantly increase your profits over time. This is also a kind of business that requires an initial investment.
However, their lifespan is much shorter than GPU platforms. This is because in networks where they are applied, the computational difficulty constantly increases, and the reward percentage for work decreases.
This decrease in profitability can be offset by the rising value of coins, and this is how Dash operates. Consequently, at certain times, your income level will noticeably increase. However, it's important to understand that the coin's price can also decrease.
Important! Difficulty increase = fewer coins obtained = reduced profit.
A miner is needed to obtain Dash, specifically the Bitmain Antminer D3 ASIC. What do you need to install and operate it?
Setting up Bitmain Antminer D3 ASIC – Step-by-Step Guide
Take the existing D3, cable, and power supply out of the box.
Connect all connectors, after which it should automatically turn on.
Next, find and download the utility (it's free) called Advanced IP Scanner. Install and run it.
Now, proceed with the following steps:
use this utility for scanning;
antminer Look for «Antminer» and note the IP address;
if successful, move on; if not, stop the scan and disable the Windows firewall, then try scanning again;
use the obtained address and access it from any browser;
apply «root» for both the username and password;
if you faced issues with the Windows firewall and had to disable it, turn it back on.
Mining Bitcoin on the Nicehash exchange with the participation of Antminer D3
In fact, it is the D3 that allows you to mine bitcoins. How does it work? You need to perform calculations based on the X11 algorithm, and the results of these calculations are auctioned off by Nicehash for money, which the person buying it pays to you in BTC.
To do this, you need to configure the servers on the Mining Configuration page of your Antminer.
Please note! You can use any Bitcoin address, even with a different name. The main thing is to separate them with a dot. Choose a server that is comfortable for you based on your location, whether it's the USA, Japan, or the EU.
After this step, in the bottom right corner, you should see the «Save & Apply» button. Thanks to this button, you can start mining.
Summing up
As you can see, there is definitely potential. If approached wisely, you can earn real profits. Of course, you need to be prepared for everything! Identify possible risks to anticipate them. Having a specialized computer will undoubtedly increase your chances. So, if you invest money in this startup, you will have the opportunity to work in this field. Study articles with recommendations carefully. They will help you avoid potential mistakes or difficulties.
