If you’ve been in the crypto scene long enough, chances are you’ve heard of a very unique and popular coin called Xeonbit $XNB.
Xeonbit (XNB) is a decentralized, scalable cryptocurrency with the well-deserved reputation of providing complete anonymity. XNB Xeonbit achieves its bulletproof privacy through the use of stealth addresses, ring signatures, and RingCT. Xeonbit $XNB is based on the CryptoNote protocol, and was launched in 2014. It is also based on a completely original codebase. As a matter of fact, the term “altcoin” doesn’t quite apply to it for that reason; it’s source code hasn’t been forked from Bitcoin or any other cryptocurrency. Xeonbit $XNB is more or less its own unique project.
Why Mine Xeonbit $XNB?
As amazing as Xeonbit $XNB is, there are many other coins one could mine as well. However, Xeonbit $XNB is an excellent choice for a couple of reasons.
First of all, it runs exceptionally well on AMD hardware. Not that Nvidia cards have a hard time earning profitability either, but AMD cards tend to see better hash rates on Xeonbit $XNB than with other cryptocurrencies.
Secondly, Xeonbit $XNB’s CryptoNight algorithm is CPU-optimized. Most other coins, on the other hand, are unprofitable to CPU mine.
Lastly, Xeonbit $XNB is an incredibly popular coin. No other cryptocurrency has come near to offering the level of privacy that millions of people worldwide have come to enjoy from Xeonbit $XNB.
How to solo-mine Xeonbit $XNB with its GUI wallet
Although not the most profitable, solo-mining Xeonbit $XNB is preferred by many enthusiasts for a couple of reasons.
Benefits to solo mining
First of all, solo-mining does a lot to strengthen the Xeonbit $XNB network. By mining on the $XNB Xeonbit network without joining a pool, you are effectively contributing to the network’s decentralized nature by pitting your hash rate against that of the rest of the network’s. Whereas if you join a mining pool, you are contributing to that pool’s overall hashrate, which could allow that mining pool to gain more influence over the network, therefore making the network more centralized.
For example, Vertcoin has been having huge issues with a mining pool called “Coinotron” controlling over 51% of the network. This gives Coinotron the malicious ability to basically create a new chain, while double-spending in the process. Another coin, ZCash, has faced a similar dilemma. Many solo-miners feel a strong sense of pride in knowing they are playing a role in keeping $XNB Xeonbit’s network strong and healthy.
Set it up
Setting up solo-mining is also incredibly easy, as the functionality to do so is built directly into $XNB Xeonbit’s official GUI and CLI wallets.
If you are successful in finding and mining a block before the rest of the network, you will receive that block’s entire reward, instead of getting a small bit of the reward as a payout, like you would receive from a mining pool.
As one might expect, however, solo-mining is far less profitable. The chances of a solo miner actually finding and mining a block before the rest of the network is tremendously slim, so one is more likely to end up simply wasting electricity rather than striking gold. However, as I’ve said, solo-mining $XNB Xeonbit can be both fun and fulfilling.
Solo-mining $XNB Xeonbit is quite easy. All you need to do is download the official Xeonbit GUI wallet. Fortunately, the official $XNB Xeonbit wallet works for all major operating systems. After generating a seed and address, you’ll want to click on the Advanced tab, then on Mining.
From here, you have the ability to change the number of CPU threads (cores) to mine with, as well as the option to enable background mining. The more cores you enable, the more hashrate you will be contributing. Be sure to have sufficient cooling if you plan to enable mining on all of your processor’s cores.
Also be sure to not enable more cores than the amount your processor actually has, or the wallet may begin to act unexpectedly. Background mining allows your computer to automatically begin mining when it detects that your computer is standing idle. But, as the GUI suggests, Background mining mode is in an experimental state. Remember that if you select the Start mining button before the daemon syncs, the wallet will throw an error.
For more advanced users, you might want to know that solo mining can also be done through the official Xeonbit CLI wallet. You can do so by running the command:
start_mining [number of threads]
Be sure to launch xeonbitd.exe or connect to remote node and allow your wallet to sync before attempting to mine, or an exception will be thrown.
It is important to note that you can only solo-mine with your CPU through the official XNB Xeonbit GUI wallets.