In the development of today's world there have been many ways to enable internet users to earn income through several methods, today I would like to take this time to inform you about telegram coins that will pay well within the year 2024-2025..
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The TON blockchain uses a Proof-of-Stake consensus and mining is not required to generate new blocks.However, at the moment, Toncoin tokens are distributed through smart contracts that use the Proof of Work (PoW) consensus.
How TON mining works
So why does TON have Proof-of-Work ? The initial release of 5 billion TON tokens located in the testnet2 network was transferred to special Proof-of-Work Giver smart contracts after Telegram left the project.
This was done to ensure that the network remains decentralized and in the future there will be no questions from regulators such as the SEC.
Mining is used to get TON coins from smart contracts. PoW Giver has a limited balance that gradually dries up, users will get all the available tokens.
Unlike other blockchains, mining in TON is a solution to a synthetic problem in exchange for 100 TONcoins for each solution.
Mining has nothing to do with the Proof-of-Stake consensus, PoS ensures the operation of the network from the very beginning, including the work of the giver contracts.
In order not to miss the moment when the funds on the givers run out and PoW stops, stay tuned to the TON News channel.
The Open Network’s hashrate as of October 29, 2021
Principles
In simple terms, there is a computational puzzle in the PoW Giver contract at any given time. For resolving it you can get a fixed amount of TON coins.
Then a new challenge is generated. The only way to resolve the challenge is to do the math work with a miner, which requires significant computing resources.
If the computation is too fast, the PoW Giver contract complicates the challenge, so it will take more energy to solve.
If the computation is too slow, then the challenge is simplified.
Thus, the PoW Giver contract maintains a stable number of coins issued per day.
Remark: the complexity parameter (complexity) is inversely proportional to the complexity of the solution, that is, high complexity for simple tasks, low for complex ones.
Therefore, it is more correct to talk about the complication of the challenge, and not “complexity”, since this conflicts with the technical part in the terminology.
The more users participate in the process, the more complex the computation becomes.
You must not only find a solution, but also do it faster than other participants.
How is this implemented?
Users run special software that goes through the numbers and sends proposed solutions to PoW Giver contracts. The higher the performance of the miner’s computer on which this software is installed, the higher the probability of receiving coins.
The more miners there are in the network, the higher the computational complexity of mining and the more computing power is required to mine Toncoins.
How to mine TONcoins
Anyone can mine PoW Givers and receive TON coins for it, but before a miner finds a Proof of Work (PoW) and receives a reward, he needs to iterate over a large number of hashes.
After the SEC prohibited Telegram from selling coins, it was decided to distribute the coins already issued in testnet2 under 20 giver contracts.
Enthusiasts began to perform challenges on the CPU, while the majority stopped to follow the development of TON. When information about mining spread, the “big” givers have already been emptied and miners started to work on the small ones.
Meanwhile, the community was actively working on TON.
As soon as the results of this great work began to appear, information about the givers spread even more. There were so many participants that the use of CPUs has become unprofitable and most of the miners switched to GPUs.
We give instructions for mining both on CPU and GPU below, which method to choose – the decision is yours.
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