How to Mine Beam? - KoinX (2024)

February 3, 2023
,10:51 am

3 min Read

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A step-by-step guide to mine Beam

BeamHashII, a modified EquihashR proof-of-work algorithm, powers the beam. When one block is made per minute for this coin, it requires roughly 1 MB and contains about 1000 transactions. Because the network is encrypted, this is mined over the SSL connection. Beam uses the Mimblewimble protocol to maintain complete anonymity, which makes it stand out from other cryptocurrencies.

Is Beam Mining Profitable?

Mining Beam requires a mining hardware hashrate of 200.00 H/s, energy bills, and pool/maintenance fees. While mining Beam is exactly the most lucrative right now (based on Beam mining hardware hashrate and other statistics), the blockchain is continually expanding, and the Beam difficulty increases and decreases over time depending on the network hashrate. We recommend evaluating your mining profitability regularly.

How to Mine Beam: Our Top 5 Recommendations

Make a Beam (BEAM) wallet address.

A wallet address is required before you begin mining. There are several ways to obtain a BEAM wallet. We propose that you try safe and secure solutions like Binance, HotBit, Gate.io, and TradeOgre.

Get the Mining Software.

You can mine Beam in a variety of miner apps. We have detailed instructions on how to organize them below. Some of the mining software you can consider are lolMiner, Gminer, miniZ, Bminer.

Modify the bat file.

You will need to edit your bat file according to your system and the graphics card(s) you use. We recommend checking out Hero Miners’ guide for a detailed guide on your bat file.

How Does Beam Mining Work?

Beam, like most other cryptocurrencies, is dependent on miners to add transactions to the blockchain. While all nodes in the Beam network validate the legitimacy of transactions, the network relies on miners to do the heavy job.

It employs Proof-of-Work consensus, and the blockchain is, of course, maintained by miners. Beam employs a modified version of the Equihash (150,5) proof-of-work mining algorithm dubbed BeamHashIII to protect the network. Hashrates are measured in Sol/s. In order to mine this cryptocurrency, you will need a graphics card with at least 4GB VRAM and an ASIC-resistant graphics card.

How Long Does It Take to Mine One Beam?

In the current difficulty level of mining 1 Beam, including the mining hash rate of 200 H/s and a block reward of 40 BEAM, it will take 2.7 days to mine one Beam, using 650.00 watts of electricity at $0.10 per kWh with a block reward of 40 BEAM.

What All Do You Need to Mine Beam?

Hardware

Nvidia and AMD cards with at least 4 GB of RAM will function, while a GTX 1060 with 3 GB will also mine Beam for the time being.

Software

Download the official Beam wallet and use the GUI miner. GMiner may be used to mine Nvidia GPUs. The miner does charge a 2% development fee. The miner works with both Windows and Linux. It is quite simple to use once downloaded.

Wallet

Developers have created an easy-to-use and official Beam wallet, which can be found on the Beam website. The wallet is available on a variety of platforms, including macOS, Windows, Linux, iOS, and Android, and setting up an account is straightforward. Start the wallet and select “Create a nwallet.”et.

Top Wallets to Store Your Beam

The top wallets to store BEAM coins are Beam Forum and Blockchain Explorer.

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Most frequently asked questions on Beam Mining

How many Beam can you mine in a day?

Based on the mining hardware inputs provided, 0.37111030 Beam may be mined each day with a Beam mining hashrate of 200.00 H/s, a block reward of 40 BEAM, and a Beam difficulty of 58,751,844.00.