A community-driven DAG+POW project, XDAG’s leading network is based on Directed Acyclic Graph (DAG) infrastructure.
XDAG is a decentralized, efficient, secure, and equitable network developed and maintained by blockchain enthusiasts worldwide. It has an approximate maximum supply of 1.446294144 billion without private placement, initial coin offering (ICO), or project sponsor. The transaction model of XDAG is similar to Bitcoin’s UTXO, and much of the development is identical to that of Bitcoin. Here is a brief analysis on how to mine XDAG in just five different methods!
How profitable is XDAG mining?
As the mining difficulty and network hash rate change, the problem of mining XDAG also changes. It can be challenging to determine a specific difficulty level. The unique mining algorithm and low network hash rate of XDAG make it challenging to mine and therefore special mining hardware and mining pools are recommended for the same.
How to Mine XDAG: Our Top 5 Recommendations
Choose a Wallet
You can choose a wallet to mine XDAG. For this, you need to visit the official website of DAG and download the required wallet. The website offers you two types of wallets, i.e.,
1. Old Wallet: Any address created before the 0.6.0 mainnet on MAC OS, LINUX, or WINDOWS can be accessed using the same.
2. New Wallet: These addresses created after the 0.6.0 mainnet can be accessed using this wallet. It is compatible with WINDOWS, MAC OS, LINUX, IOS, and Android.
Select the Mining Pool
Currently, there are the following mining pools:-
1. Worldwide pool:
The pool charges 2% fees and can be mined in eight different modes:
- Solo- with pool address pool.xdag.org:13655
- Equal – with pool address pool.xdag.org:13656
- Solo2 – with pool address pool.xdag.org:14655
- Equal2 – with pool address pool.xdag.org:14656
- Santrum Equal – with pool address stratum.xdag.org:23656
- Santrum solo – with pool address stratum.xdag.org:23655
- Santrum Solo2 – with pool address stratum.xdag.org:24655
- Santrum Equal 2 – with pool address stratum.xdag.org:24656
2. Doctor Wang:
This pool charges a fee of 3% from the miners and offers two different mining modes.
- Solo – with pool address xdagmine.com:13654
- Sanctum Solo – with pool address xdagmine.com:3232
Get All the Required Mining Hardware
GPU mining is optimized for the XDAG mining algorithm, DAGger. It is, therefore, necessary to have a powerful graphics card to mine XDAG efficiently. AMD Radeon RX 580, Nvidia GeForce GTX 1080 Ti, and AMD Radeon RX Vega 64 are some GPUs recommended for XDAG mining.
It’s also essential to have a computer with enough RAM and storage space, in addition to a powerful GPU. Over time, the XDAG blockchain will grow, so you will need enough storage space to store it all.
Getting the Mining Software
You can download the preferred software from the official website of XDAG. If you want to mine through a CPU, you can download the XDAG RANDOMX CPU MINER. This software is compatible with WINDOWS, MAC OS, and LINUX. Alternatively, you can join the proxy server to mine XDAG as well. The XMRig2XDAG is a translator between the XDAG mining protocol and the XMR stratum protocol.
Configure the Hardware and Software
The following steps will guide you through configuring your hardware and software for XDAG mining:
- You should choose a GPU compatible with XDAG mining, such as Nvidia GeForce GTX 1070, Nvidia GeForce GTX 1080 Ti, AMD Radeon RX 580, or AMD Radeon RX Vega 64.
- The latest GPU drivers can be downloaded from the manufacturer’s website.
- XDAG Miner, GMiner, and T-Rex Miner are the three mining software options available for XDAG mining.
- Once installed, set up your mining software to connect to your mining pool and the XDAG network. To begin mining, enter your wallet address and other relevant information.
- The GPU can be overclocked to improve mining performance and increase your mining rig’s power consumption and heat. Be careful when overclocking and monitor your system’s stability and temperature.
- Make sure your mining operations are running smoothly and efficiently by monitoring them. Regularly check your hash rate, power consumption, and temperature.
Popular video guides on Mining XDAG
How Does XDAG Mining Work?
XDAG uses the Directed Acyclic Graph (DAG) algorithm for its consensus mechanism. Compared to traditional blockchain-based cryptocurrencies, DAG transactions are faster and incur lower fees.
On the XDAG network, nodes are responsible for verifying and validating transactions. It’s a crucial part of keeping the network secure and reliable. Each transaction in XDAG is represented as a node in a graph instead of a single blockchain. A web-like structure is created as more transactions are added by referencing previous transactions in the DAG.
An algorithm called Proof-of-Work (PoW) ensures security and prevents double-spending. To add new transactions to the DAG and receive XDAG rewards, miners solve complex mathematical problems.
How Long Does It Take to Mine One XDAG?
There is an 11.16 MH/s network hash rate for Dagger by XDAG.
How Difficult Is It to Mine XDAG?
XDAG mining difficulty is determined by the current mining difficulty and network hash rate. Several factors can change, making deciding on a specific difficulty level challenging. Due to its unique mining algorithm and low network hash rate, XDAG is generally considered more difficult to mine than other cryptocurrencies. Joining a mining pool and using specialized hardware are recommended to increase your chances of successfully mining XDAG.
What All Do You Need to Mine XDAG?
The following are the requirements for mining XDAG:
1. To perform the complex calculations required for mining, you will need a computer with a dedicated graphics card (GPU) or an application-specific integrated circuit (ASIC).
2. XMRig or Claymore’s Dual Ethereum Miner are examples of mining software compatible with XDAG.
3. For storing your mined coins, you will need a wallet that supports XDAG. Several options are available, such as the XDAG Wallet, MyEtherWallet, and Ledger Nano S.
4. You will need a stable and fast internet connection to receive work assignments and submit solutions.
5. Calculate your potential profits after factoring in the cost of electricity. Mining requires a lot of energy.
6. Registering for a mining pool account requires following the pool’s instructions for setting up your mining rig.
Top Wallets to Store Your XDAG
Some of the famous wallets to store XDAG are:
- XDAG Wallet
Already Holding XDAG?
Calculate your Profits
Calculate your tax liability
Most frequently asked questions on XDAG Mining
How does XDAG work?
XDAG uses a DAG (Directed Acyclic Graph) structure to create a decentralized blockchain. Other nodes in the network validate transactions, and each transaction forms a new block. This allows for faster transaction speeds and increased scalability compared to traditional blockchain structures. The network is designed to be ASIC-resistant, prioritizing CPU and GPU mining, making it more accessible to a broader range of users. XDAG has some privacy features to protect user identities and transaction details.
How is XDAG different from other cryptocurrencies?
XDAG is different from other cryptocurrencies in several ways. One main feature that sets XDAG apart from other cryptocurrencies is its use of a DAG structure and ASIC-resistant mining. This structure allows for faster transaction speeds and increased scalability, making it an efficient blockchain solution. Overall, XDAG is a promising cryptocurrency that offers unique features and benefits. Its innovative approach to mining and privacy makes it an attractive investment option for those looking to diversify their portfolio.
How can I buy XDAG?
You can buy XDAG on crypto exchanges that supports it. XDAG is available on various cryptocurrency exchanges, such as Azbit, CoinEX, and STEX. To accept XDAG, users can use Bitcoin (BTC), Ethereum (ETH), or Tether (USDT) on these exchanges. It is highly recommended to conduct extensive research and compare prices across multiple businesses before purchasing to ensure the best value for your investment.