What is Siacoin?
Niacin is the cryptocurrency of Sia, a blockchain-based storage solution that provides decentralized cloud storage. Data is kept and encrypted on the Sia network and dispersed across its decentralized network. Anyone can use the Sia platform to access and store secure storage, as well as have their file proofs, transactions, and contracts authenticated by the Sia public ledger.
Sia is a decentralized cloud storage platform that competes with Google Drive, Dropbox, and Amazon Cloud. However, there are many differences between Sia and these storage alternatives. What distinguishes Sia from the competition is that it ensures that data is stored on a decentralized blockchain.
How to mine SIA with Asics?
Siacoin is mined using the Blake2b mining algorithm, and you may do so with a GPU or an ASIC. However, to reap a profit, you’ll need an ASIC miner that’s identical to Antminer A3. As a result, double-check that your power supply can provide the electricity your ASIC miner requires. You must also join Sia mining pools to increase your chances of receiving a block reward. When pool members combine their hashing power, they have a better chance of solving the riddle and getting block rewards.
After you’ve earned a block reward, you’ll need a place to store your SC. Download and install Sia-UI on your computer to create a Siacoin wallet. You should also invest in a high-speed and secure internet connection. For successful mining, your internet connection should be available 24 hours per day, seven days a week.
To keep your mining equipment running efficiently, provide adequate ventilation to allow it to cool down. Fans may also be used for additional cooling. Finally, because the operation of your rig generates a lot of noise, you should position it in an isolated place or a soundproof room.
Siacoin Asic Mining Setup Process
To get started, follow the steps below to establish your new computer.
- Step 1
Connect the miner’s hashing and control boards to the power supply and switch. Next, connect the power cable to the power supply unit and a working outlet.
- Step 2
Connect the router’s LAN cable to the ASIC miner. The control board’s Ethernet port is where the miner’s Ethernet connection is found.
- Step 3
Join a Siacoin mining pool of your choosing. When deciding, evaluate the mining pool fees, the reward system, and the server locations. To join Sia mining pools, go to https://www.easyminer.com/register/.
- Step 4
Look for the IP address of the ASIC miner in your internet router’s admin interface. Furthermore, you may get the IP Reporter program from the ASIC miner’s website. To obtain the IP address using this software, choose “Run” then “Start.” Then press the “IP Report” button on your ASIC miner’s control board to view it on your screen.
- Step 5
Enter the IP address into your browser and press “Enter.” A sign-in dialog box will appear, asking you to type in the default username and password as stated in the miner’s handbook. When you’re done, click “Sign In.”
- Step 6
Click the “Miner Configuration” menu, then “General Settings.” The Siacoin mining pools information should be entered next where the URL is the pool’s address, your Siacoin wallet address is the worker, and “123” if you are using an Antminer. If you don’t want to use a password, that’s OK. Similarly, fill in the other pools’ details in each area to ensure that your rig continues to operate even if one pool goes down.
- Step 7
Restart the miner after saving the modifications. After the restart is completed, go to the status screen to check on your miner’s activity. If you can see the hash rate on your miner, it is operating.