The following is my personal interpretation so do your own research and participate/invest when you decide so. Or not.
Our mission is to empower people through ownership of their digital selves and blockchain is the most promising technology for accomplishing this mission. Blockchain-based applications can add value to people’s lives in an infinite variety of ways but building such applications is far too difficult, time-consuming, and expensive.
About the platform ...
When it launches the Koinos mainnet will be a fast and fee-less blockchain that enables developers to create an unlimited number of free accounts for their users. With these features, Koinos won’t just lower the barriers to entry, it will obliterate them and open up blockchain applications to an order of magnitude more users.
Yes, there will be a mining mechanism in place in order to distribute the assets, called KOIN. CPU POW mining with their client software.
And the following is actually a record on how I installed and enabled the miner on my Windows machine. It was a smooth procedure.
You can find the official instructions here.
You can also watch videos to learn about everything important.
Announcing KOIN Mining & Koinos Whitepaper
Koinos Miner Installation and Configuration
Now, let's go through the setup together.
After you download the miner client and run the installation you are greeted with the following warning.
Remember, this is on Windows.
Don't fret. Push forward.
By default, the installation goes into ...
Seconds later ...
Setting up miner's private key
Verify the phrase
Funding address was generated
This address is for funding your transactions. The mining score is kept on the Ethereum blockchain and you mined tokens are actually ERC-20 tokens. There are transaction fees involved with your mining reports and they are covered from this address - hence funding.
The other address that you need is called the receiving address, This is where your mined KOINs will be stored.
I generated mine with my Ledger Nano S. You can do it with Metamask or any other ETH wallet.
Now, let's start the miner ...
It's a countdown.
After canceling the mining I received the following message
Quite right, since I didn't send any funds to the funding address yet.
OK, I transferred around 42 € that were sitting in my Bitwala wallet. That should be enough for initial mining, shouldn't it?
Several minutes later ...
Good, the miner is funded and we are set.
This was easy :) I do hope it was done correctly too.
Ps: I went through this exercise yesterday in the evening. Now, a day later, the miner is happily doing its countdown and waiting for the show to start.
Better and better
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