Intro to PKT Mining¶
DPKT is mined using the novel PacketCrypt bandwidth-hard mining algorithm which requires bandwidth to mine. Since PacketCrypt is a bandwidth hard proof of work, this means it requires lots of bandwidth to mine in combination with CPU power. Miners collaborate with one another by sending small messages (called Announcements) and the sending of these messages requires bandwidth. Miners get an advantage by working together.
As more people mine PacketCrypt, they will need to invest in more network infrastructure which will become useful later on for making the internet more accessible, as well as operating VPN and empowering people to safely share wifi with their neighbors.
In order to mine PKT you must first set up a PKT Wallet. You must use a PKT wallet that is compatible with mining. A mining wallet is required because PKT miners get paid every 60 seconds. As a result of getting paid 1,440 times per day (60 minutes per hour * 24 hours per day) each PKT wallet must have the ability to scale in order to support the amount of mining transactions. Learn how to set up a PKT Wallet [here].
Miners who are working in collaboration with one another are members of a mining pool, therefore all mining of PacketCrypt is done in pools.
Mining PKT utilizes 2 distinct stages: announcement mining and block mining.
Announcement Mining - Using your CPU to create Announcements
Announcement Mining creates a small (1KB) message that is difficult to compress and proves work was done. Announcements are transmitted to and collected by block miners to form blocks. This simulates the transmission of data across the network. Announcement miners must maximize their CPU processing power and bandwidth upload speed for the highest yields. Announcement mining can be done from nearly any device that has a CPU processor and access to bandwidth.
To learn more about announcement mining, click [here].
Block Mining - Collecting Announcements from Announcement Miners and using them to mine blocks.
Block mining involves setting up a mining pool. PKT mining pools require expert networking experience, significant hardware and bandwidth infrastructure with a minimum of 25 gbps of bandwidth ingest. Block miners gain efficiency on the difficulty of the work, based on the amount of new announcements they have in memory at the time of mining. This incentivizes mining pools to pay announcement miners to supply announcements. Block mining is typically done at the mining pool's datacenter.