Webchain is a new type of cryptonight coin, that aims to be anti ASIC and allow for smart contracts with ERC20 and EC223 standards along with D-apps. It also is a cryptonight coin, so it has all of the privacy features that Monero has like ringCT, stealth addresses etc. It uses a modified version of the Cryptonight V7 algorithm.
One thing to note about this coin is the block time is 10 seconds. I will explain some settings you might have to change from normal 1-4 minute cryptonight variants to get the most mining for webchain.
Now that we know the details about Webchain, let’s get to mining some WEB!
Some General Mining Tips
So before we start this tutorial, I have two tips for making the most out of your mining experience. First make sure you have the latest drivers for your GPU’s. Secondly, most mining software will get flagged as a virus from virus scanners. Because of this, if your mining on your normal everyday use or gaming computer that has an antivirus installed, you will want to exclude the mining software from the antivirus. What I like to do, is I make one folder and then put all of my mining software in sub folders. I then exclude the top level folder from the antivirus and that excludes all the mining software.
Webchain Mining Optimizations
One thing I noticed when mining this coin, was I got a lot of new job request without having any shares accepted messages. This is probably due to the fact that the blocks are 10 seconds apart meaning my computer kept switching to work on the new block and not submitting anything in that time.
Usually the retarget time on pools are about 30 seconds unless manually changed which is fine for other 1+ minute coins. I would suggest to get the most out of mining webchain that you mine with static difficulty if your pool supports it (the one in the tutorial does not) or you choose the lowest difficulty port to mine on.
This will allow you to send shares faster, depending on how much hashing power you have. One thing to note about this though is that you dont want it too fast to where it sends so many request that you use too much of your available bandwidth on your connection, since normally mining computers dont generate much bandwidth compared to downloading files etc.
Everyone’s bandwidth and hashing power is different, so I suggest spending a little time on the settings until you get a good ratio. In my case I would have tried to get the ratio to about one request every 3 seconds since this would mimick in my setup what usually happens when I mine a 1 or 2 minute cryptonight coin.
Mining Pools
The first thing we need is a mining pool. You can solo mine, but the payouts could take months depending on how powerful your mining rig is, and the mining pools usually charge a very small fee (1% or less). Using a pool will allow you to receive consistent payouts, multiple times per day.
For this tutorial we will use https://webcn.loudmining.com/#/ . I have chosen this pool because they have a low fee (0.5%) and lots of features for the mining software. Webchain is mostly a CPU mineable coin, since it has a modified algorithm and none of the more mainstream mining software have implemented the changes yet to add the special algorithm. This pool offers mining software for AMD, and Nvidia that has the changes applied.
They also have a wide variety of ports to choose from
Now that we have a pool, lets start mining!
CPU Mining
Download the official CPU miner from https://github.com/webchain-network/webchain-miner/releases. This is a xmrig fork, so it behaves like xmrig. You can download it for Windows, Linux and Android. Unzip the folder and then run this command from a terminal or command prompt
webchain-miner -o mining_pool:port -u wallet_public_key -p x -worker-id Worker --donate-level=1 --cpu-priority=0
Replace “mining_pool” with webcn.loudmining.com
Replace “port” with a port. I would use 2222 if your CPU is a quad core or more, otherwise use 1111
Replace “wallet_public_key” with your wallet address
“Worker” is optional. Use this if you have multiple mining computers. For example I could do officecomputer for one computer and then gamingcomputer for another computer. This way you can keep track of them on the pools dashboard.
You can also change the donation level and change the CPU priority, incase you still need to use the computer while it is mining.
You should then see this screen
GPU Mining – Nvidia
For GPU we will be using the software from the mining pool. These are just modified versions of xmrig-amd and xmrig-Nvidia.
You can download them from https://webcn.loudmining.com/#/downloads
Once downloaded, it is really simple to use.
xmrig includes a unique website where you can auto generate a config file for you at https://config.xmrig.com/
At the end you will probably want to configure it and test it to get the best settings.
You will also want to change the pool and put your public address in the address spot. You might also want to change the donation level.
Double click the batch file to run the miner, and you should see something like this
GPU Mining – AMD
For GPU we will be using the software from the mining pool. These are just modified versions of xmrig-amd and xmrig-Nvidia.
You can download them from https://webcn.loudmining.com/#/downloads
Once downloaded, it is really simple to use.
xmrig includes a unique website where you can auto generate a config file for you at https://config.xmrig.com/
At the end you will probably want to configure it and test it to get the best settings.
You will also want to change the pool and put your public address in the address spot. You might also want to change the donation level.
Double click the batch file to run the miner, and you should see something like this
If there are problems, you can try a few things.
You may not have enough virtual memory. You may need 16GB of virtual memory (for Vega GPU’s you need more like 16GB per GPU) to change this go to Control Panel -> System and Security -> System and the click Advanced system settings on the left. From there, click settings under the advanced tab. Next click change, and then on the third screen, uncheck automatically manage, choose custom size, and type in the size (in MB) for both text boxes. Then press the set button, and then the ok button.
General Troubleshooting
One thing to monitor for is stale or rejected shares. If you see a lot of stale shares, you may want to try a server that is closer to you. If you see a lot of rejected shares, try to lower the intensity of the miner if available.
How much WEB will I earn per day?
To figure this out, you would go to https://www.coincalculators.io/coin.aspx?crypto=webchain-mining-calculator and use their calculator. The calculator does provide a rough estimate, so you may get paid a higher or lower amount than what the calculator actually says.
Most of the values are already correctly entered, and you only need to edit a few values.
Hash rate: Enter your total speed for all of your mining computers. This would be the “total speed” value in your mining software. Make sure to add up all of the computers your using for Webchain mining.
Power: Enter the total amount of power (in watts) that your mining rig is using. Some mining software will measure this for you. You can also measure total power consumption for your computer using special software, or a kilowatt meter. I prefer using a kilowatt meter, because I find it to be the most accurate. Make sure to add up all of the computers your using for Webchain mining.
Cost: Enter the cost per kilowatt hour that you pay to your electricity company. I was able to find this info in my monthly bill, as well as on their website.
Pool fee: Enter the pool fee + the miner software dev fee. For our example you would enter 0.5 + 1 = 1.5
Hardware cost: Enter in the total cost of all of your hardware.
Using my AMD Vega system for an example, I will show you how to read the data. In the above image there is really 3 things that I look for.
#1 Look at the Difficulty 24h and the Difficulty 7 days. We want these to be around the same, which they are. This tells us that the calculations we will look at in the second image below, will be accurate for days to come, as long as the price is not volatile.
#2 Look at the EX. volume 24h and the Market Cap. Generally, the bigger these are, the less volatile the price will be. We want the price to not be volatile so our calculations will be accurate for days to come. In this example, the market cap is small, so the price could change a little day to day.
#3 Look at the Create 1 BTC in and the Break even in. It is always interesting to see how long it will take your mining rig to create 1 BTC. The break even in, will show you a rough estimate of how long it would take to pay off your mining rig, by mining this particular coin. This is great to use before you build your mining rig, to see how long it will take until you will see profits.
In this image, we can quickly see how many coins and USD value we will make in certain time frames. You want to look at the Profit column, since this is the value after paying for your electricity usage. I usually just focus on the daily payout in USD. By just focusing on this number, you can run the calculator for a few different coins, and quickly see which coin is most profitable for your mining rig setup. Keep in mind you also want to weigh the daily payout with the market cap. A low market cap coin may be really profitable one day, and then could have half the payout tomorrow.
That’s it. You should now be mining Webchain! Make sure to type in your public key into the mining pool’s dashboard, to keep track of your statistics.
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