🖥️How to Mine BTC on SOL

Mining Bitcoin (BTC) on the Solana (SOL) platform involves a unique process that leverages Non-Fungible Tokens (NFTs) as mining computers.

This section will guide you through the steps to participate in mining BTC on SOL, highlighting the key aspects of the reward system and the mining process.

⛏️ Get your mining computer here.

1. Acquiring a Mining Computer NFT

Where to Obtain: To start mining, you first need to acquire a mining computer in the form of an NFT. These NFTs can be obtained from the website mine.sol-btc.xyz.
Role of NFTs: Each NFT represents a virtual mining computer with a specific hash power capacity. Owning one of these NFTs grants you the ability to participate in the mining process on the SOL network.

2. Understanding the Block Reward

Initial Reward: The mining process begins with an initial block reward of 50 BTC. This reward is given to miners as an incentive for their computational contributions to the network.
Halving Schedule: The block reward is subject to a halving event every 42,000 blocks. This means that the reward for mining a block is reduced by half after every 42,000 blocks are mined, making the remaining BTC more scarce and potentially more valuable over time.

3. Reward Distribution

The mining pool that solves the block first, gets the reward: Pools with higher hashpower have a higher chance to solve a block. Solving a block gets herder as more miners make the mining difficulty increase.
Average Block time is about 5 minutes.

4. Mining Process and Block Time

Block Solving Frequency: In this system, a new block is solved approximately every 5 minutes. This is a faster rate compared to the original Bitcoin protocol, where a block is solved every 10 minutes.
Implications of Faster Block Time: The quicker block time allows for more rapid transaction processing and potentially leads to a more dynamic and responsive mining experience.

Mining BTC on SOL involves acquiring a mining computer NFT, participating in the mining process, and earning rewards that are distributed based on the hash power contributed. The system is designed to be fair and efficient, with a faster block time and a halving schedule that ensures the scarcity and potential value appreciation of BTC. This unique approach to mining on the Solana blockchain offers an exciting opportunity for those interested in cryptocurrency mining and blockchain technology.

Last updated 11 months ago

⛏️ Get your mining computer here.

1. Acquiring a Mining Computer NFT

Where to Obtain: To start mining, you first need to acquire a mining computer in the form of an NFT. These NFTs can be obtained from the website mine.sol-btc.xyz.

Role of NFTs: Each NFT represents a virtual mining computer with a specific hash power capacity. Owning one of these NFTs grants you the ability to participate in the mining process on the SOL network.

2. Understanding the Block Reward

Initial Reward: The mining process begins with an initial block reward of 50 BTC. This reward is given to miners as an incentive for their computational contributions to the network.

Halving Schedule: The block reward is subject to a halving event every 42,000 blocks. This means that the reward for mining a block is reduced by half after every 42,000 blocks are mined, making the remaining BTC more scarce and potentially more valuable over time.

3. Reward Distribution

The mining pool that solves the block first, gets the reward: Pools with higher hashpower have a higher chance to solve a block. Solving a block gets herder as more miners make the mining difficulty increase.

Average Block time is about 5 minutes.

4. Mining Process and Block Time

Block Solving Frequency: In this system, a new block is solved approximately every 5 minutes. This is a faster rate compared to the original Bitcoin protocol, where a block is solved every 10 minutes.

Implications of Faster Block Time: The quicker block time allows for more rapid transaction processing and potentially leads to a more dynamic and responsive mining experience.