Handshake cryptocurrency project is a blockchain that creates a DNS-compatible, decentralized naming protocol called Handshake Naming System. This project focuses on decentralized domain name registration, authentication, and analysis.
HNS token is Handshake’s ecosystem cryptocurrency used for name registration to both buy and mine it. This article will explain all the Handshake mining basics: software, hardware, and mining pools.
Table of Contents
What Is Handshake Project?
As we already said, Handshake is a public blockchain which creates DNS-compatible, decentralized, license-free domain name protocol. Handshake’s main goal is to replace Interact Cooperation for Assigned Names and Numbers (ICANN). This is an organization which is responsible for coordinating the maintenance of database related to namespaces and ensuring stable and secure operation.
Before ICANN was established, IANA (Internet Assigned Numbers Authority) was the only organization responsible for domain names such as .org, .net, and .com. ICANN has introduced far more domain names and made the process cheaper and easier.
Handshake was established by Joseph Poon, the founder of Bitcoin Lightning Network, Christopher Jeffrey, and Andrew Lee, both from the Purse project. The team has optimized Merkle Tree. The developers succeed in making the Flat File Merkle Tree (FFMT) that speeds up the search, insert, and delete operations of Merkle Tree.
The project is financially supported by such projects as Andressen Horowitz, Sequoia Capital, and SV Angel. In 2018, Handshake raised more than $10 million from investors.
How to Start Mining Handshake (HNS) Coin?
Handshake blockchain uses proof-of-work mining, which is based on two algorithms: Blake2B and SHA3. First of all, before starting any mining process, you should create a Handshake wallet address. You can use both wallets and your trading account on the cryptocurrency exchange to use as your pool payout address. Bob Wallet is one more option to get an HNS coin wallet address.
Please, remember that you need to store your private key securely. Read our article on how to keep your wallet safe.
Now, let’s choose the software, hardware, and mining pools for profitable Handshake mining. By the way, the current block reward is 2,000 HNS.
Handshake Mining Pools
There are plenty of mining pools to choose from. We’ve made a comprehensive list of the most reliable mining pools to get Handshake cryptocurrency.
F2Pool website claims that the only efficient way to mine HNS tokens is to use ASICs miners. The pool offers a 3% fee for withdrawal once a day with the PPS reward system. The payout threshold is 10 HNS. To start all you need is to configure your mining device and fill in the URL, username, and password.
Dxpool works on almost the same rules as the previous one. A threshold is 10 HNS. You can withdraw money once a day at 10-12:00 (Beijing time). The payment method is PPS+ and the fee is 3%. In order to start mining, download Goldshell miner, connect the hardware, and configure mining pool parameters.
This pool is dedicated to Handshake cryptocurrency mining. There are no withdrawal fees, and the minimum payout is 5 HNS coins. One good thing is that the payouts cycle automatically every 5 minutes.
6block mining pool supports AMD and Nvidia GPUs. The pool offers a PPS+ reward system with a 3% fee. You can withdraw a minimum of 1 HNS every day automatically at 00:00 UTC. To start mining on 6block, register and fill in all the necessary info.
ViaBTC is a famous multipool that now enables Handshake mining. In this pool, you can choose the payment method from PPS+, PPLNS, or SOLO. The payment threshold is only 0.01 HNS, and you can withdraw money at 10-18:00 HKT.
Handshake Mining Software
You can’t mine any cryptocurrency without software. There are some miners that can help you to extract HNS coins.
GMiner is quite well-known software in the community. Its advantage is in supporting many algorithms. The miner supports both AMD and Nvidia GPUs. However, the miner works only with Nvidia in HNS mining (because of the algorithm Blake2B+SHA3). The software supports macOS and Windows.
The miner automatically restarts the system in order of mistake or misconnection. One more advantage is an effectiveness calculator: it shows the energy consumption for each GPU.
NBMiner is a closed source software for mining more than 50 coins with 16 algorithms. The miner is available for Nvidia on Windows, Linux, and macOS. One of the most outstanding features is the possibility of HNS+ETH dual mining. There is another version of NBMiner which supports AMD video cards.
SRBMiner-Multi supports different algorithms, including Handshake. The client works with many modern AMD GPUs. It’s easy to mine cryptocurrency because the software can process in the background. The system turns off automatically if the GPU has a critical temperature. Moreover, it reloads if there are too many declined shares.
Handshake Mining Hardware
You can use both GPU (such as AMD and Nvidia) and CPU miners. Here is a table with hardware for Handshake, which varies in its power consumption and price.
|Hummer Miner H1
|Monad Imperium R2
|Monad Imperium F2
As you can see, you can find the hardware to every taste and budget. Depending on what you want to receive as a final product, you can choose the miner to make your perfect rig.
Is It Profitable to Mine Handshake Coin?
The profitability depends on your hardware and overall possibilities. You can always use the Handshake mining calculator to get the info about mining profitability. For example, if you use the cheapest Handshake miner from our list and mine in the pool with no fees, you’ll get the profit as in the table below:
If you want to invest in your hardware and buy Goldshell miner (in the pool with 3% share), your profit can be as follows:
Please, take into account the fact that this profit is considered for the solo miners. In other cases, it’s shared between all miners in the pool according to the chosen pool reward system.