zkTube | The Advanced High Yield Mining Pioneer with Low Energy Consumption & Environmental Protection – World Crypto Times

zkTube | The Advanced High Yield Mining Pioneer with Low Energy Consumption & Environmental Protection

zkTube | The Advanced High Yield Mining Pioneer with Low Energy Consumption & Environmental Protection

Press Release
January 12, 2022 by worldcryptotimes
2704
okk

About zkTube

The scalability of the Ethereum network has been a point of contention in the cryptocurrency ecosystem for years, with the main issues centering on high costs and network congestion during peak demand. Against this backdrop, zkTube uses one of the most vocal solutions, Zero Knowledge Rollup, or zk-Rollup technology, to address the scalability of the existing blockchain. zkTube aims to bring Visa-level throughput of thousands of transactions per second for Ethereum network, while keeping assets as secure as Layer 1 accounts and maintaining a high level of censorship resistance.

Advantages of Zero-Knowledge Proof Mining

ZK, or Zero-Knowledge proof is to perform complex calculations and proof generation under the chain, while the chain performs proof verification and stores part of the data to ensure data availability. Mining with zero-knowledge proof technology can effectively reduce energy consumption compared to working with other blockchain networks. Due to zkTube’s off-chain computing capabilities, the energy consumption and fees for on-chain transactions by users on L1 are significantly reduced, with consumption occurring only when miners are computing.

Soon, we will also launch a hosting mining platform. Some venture capital with the world’s largest zkTube hosting mining farms have already started to promote zkTube’s hosted mining business, diversifying their business by offering packages to third-party miners and market participants.

How Prover Mines & Its Rules

The main responsibility of Prover is to collect the task from the node and then calculate it, and submit it after the calculation is finished. Since the miner is a real computer deployed in the site, there will be a series of problems such as digging out the network cable, power failure, downtime, etc., so there is a possibility that the task will be interrupted in the middle of the calculation. Thus we set a time to schedule the flow of these tasks- after the miner receives the task, it does not necessarily mean that he can get the revenue, they must also ensure that they can complete the calculation efficiently and accurately. We will only recognize the first submitter who submits up.

Our mining is not consensus mining, unlike traditional POW, POS, or DPOS. zkTube uses zk-Rollup technology to ensure data consistency, and the machine that provides the computation naturally receives the corresponding reward, which increases with the difficulty of the task computed by the computer.

Advantages of zk-Rollup Mining

Two types of mining rewards.

  1. Mining rewards
  • Calculation proof reward
  • Node communication bonus
  1. Online rewards

Core conditions include:

  • Machine hash power
  • Machine online time
  • The size of the whole network hash power

zkTube is focused on the long term development. To reward early supporters and incentive new users, and to ensure full network computing power upfront, we are giving online rewards. The online reward is affected by the performance of the machine, the length of time online and the amount of mining rewards already produced. The online reward will be cancelled if the daily mining output has reached its peak. In other words, the earlier you participate, the more online rewards you can gain.

Stable revenue

As we know from the above, in the case that Layer2 does not have any transactions or the volume of transactions is small, no blocks or tasks will be generated automatically, which will result in no work for the Prover and thus no revenue. So our revenue extends the online revenue, the more miners are online, the faster the tasks can be processed when they appear, thus speeding up the transaction processing volume of the whole network. The online reward will fluctuate with the number of tasks, in the case of a small number of tasks, the online reward will be increased to ensure the miners’ revenue, and when the number of tasks rises, the online reward will be adjusted appropriately.

How to Set Up Mining

Currently only support Linux system mining

  1. Install the dependencies

qbittorrent-nox

Ubuntu

sudo apt-get update && sudo apt install -y axel software-properties-common dirmngr apt-transport-https lsb-release ca-certificates iproute2 curl wget libssl-dev && \ sudo add-apt-repository ppa:qbittorrent-team/qbittorrent-stable -y && \ sudo apt-get update && sudo apt-get install qbittorrent-nox -y

CentOS

sudo yum -y install qbittorrent-nox

Source code address: https://github.com/userdocs/qbittorrent-nox-static/

PS: Please be sure to use root privileges to install the dependency, otherwise there may be a lot of unpredictable problems.

  1. Download the Prover binary file and give permission to execute

Download address: https://file.zktube.io/package/zkTube_prover

sudo wget https://file.zktube.io/package/zkTube_prover /bin/zkTube_prover sudo chmod +x /bin/zkTube_prover

  1. Set up revenue_address

echo ‘you revenue address’ >/revenue_address

  1. Start Prover

sudo /bin/zkTube_prover

This article is only a brief introduction to the advantages of zkTube’s mining principle and how to build a mining machine. If you have more questions about how to calculate revenue and how to build a mining machine, please visit the official website http://zktube.io or via our social medias as below: 

Twitter: https://twitter.com/zktubeofficial

Telegram: https://t.me/zkTubeProtocol

Discord: https://discord.gg/TTFd2b2W

Add a comment