Chinet is a new cryptocurrency with GPU mining. Profit calculation
- Created: Tuesday, 07 February 2023 04:01
The Chinet crypto project was launched on February 1, 2023 and has already managed to attract quite a lot of attention, primarily among miners, because. mining this cryptocurrency on video cards at the moment can offer one of the highest rewards. Chinet is not a pure POW cryptocurrency, because in addition to POW mining, users can also participate in POS mining, i.e. in staking. But we are primarily interested in mining Chinet (CHN) on video cards. For mining, a modified ProgPow algorithm called ProgPowZ is used with a similar hashrate and power consumption.
The official website of the project is Chinet.io.
To analyze the operation of the Chinet cryptocurrency blockchain, you can use the site explorer.chinet.io
The official GitHub of the project, where you can download the wallet for Windows and Linux.
Miners for the ProgPowZ algorithm
The ProgPowZ mining algorithm already supports several miners with which you can mine CHN on Windows, Linux, HiveOS or RaveOS:
wildrig.exe --print-full --algo progpowz -o stratum+tcp://localhost:11555 -u YOUR_WALLET_ADDRESS -p x
TT-Miner.exe -A PROGPOWZ -o stratum+tcp://localhost:11555 -u YOUR_WALLET_ADDRESS
progminer.exe -P stratum+tcp://YOUR_WALLET_ADDRESS@localhost:11555
Mining Chinet is available on any modern AMD or Nvidia video card with at least 2Gb video memory
Chinet Mining Pool:
Exchange for Chinet:
xeggex.com (trading volume in the CHN/USDT pair is approximately 2000 USD per day)
Chinet mining profitability calculation:
There are no calculators for calculating the profitability of Chinet mining yet, so you can do it yourself using the following formula:
To do this, you need to know the basic parameters of the POW network:
V - Block size - 10 CHN
T - Block time - 1 minute
1440 is the number of minutes in a day
H - Network hashrate - 154Gh/s (look at the pool or explorer)
Z - Your hashrate
S- number of coins
The calculation formula will look like this:
For an RTX 3060 graphics card, the hash rate on the ProgPowZ algorithm will be approximately 24MH / s with a power consumption of 170W. For your video card, you can find out the hashrate from this article (the hashrate is similar to KawPow): The current hashrate of video cards for 2023. Table.
We substitute this data into the formula and get the number of Chinet coins that the RTX 3060 video card will produce per day:
10*1*1440*24/154000= CHN 2.2
Now let's go to the xeggex.com exchange to find out the current value of CHN coins. At the time of writing this calculation, one CHN is worth 0.28USD
Using a tricky calculation, we get that the profitability of mining on one RTX 3060 video card will be approximately 0.6 USD per day, excluding electricity costs.
For comparison, mining Nexa cryptocurrency on the same video card will give you 0.41 USD per day, and Dynex 0.35 USD per day.