Can One Use One’s Hard Drive to Mine on Blockchain and Earn Rewards?
Genaro Sharer says: Yes！
Hard disk mining refers to getting rewards by sharing your hard disk space.
However, using Genaro Sharer to earn GNX can’t be called mining in the strictest sense. When we say ‘hard disk mining’ we refer to the sharing of resources (including computing resources, storage, bandwidth, and other computer resources) as ‘mining’.
Mining within Genaro Sharer is different from the mining of Bitcoin or Ethereum. This latter type of mining requires extremely high computational performance. It also constantly calculates the hash, which is almost impossible for ordinary users to achieve with their home computers. In contrast, Genaro Sharer has a low sharing threshold and is more user-friendly. It can also yield ‘double rewards’! Let’s see how people can experience the advantages of blockchain technology with ordinary domestic machines.
There are two steps：
Step 1：Stake (bet)
Step 2：Share hard disk to get rewards
Detailed instructions are as follows：
There are two ways to mine. First, you need to get a public IP address from your network operator：
Genaro Sharer Client (Mac/Windows)
Download the Genaro Sharer client, and make sure there is enough ETH in the wallet to generate the smart contract and enough stake in GNX
- Share hard disk space and start earning rewards
Go to the ‘My Drive’ and click ‘Share Drive’ in the upper right corner.
Select the hard disk location and capacity to share. After setting is complete, click ‘OK’.
After the sharing is successful, you can view it in the ‘My Drive’ management list. If the drive sharing is successful, a green status is displayed, while failures are displayed in red.
Click the button to set the collection wallet. Now click the ‘Stake’ button. Each drive can be customized to select wallets that have been added in Genaro Sharer as reward collection wallets for sharing hard drives.
You can enter a GNX amount (minimum limit: 5000 GNX) and Lock Time in the wallet setting box. Enter the wallet password and confirm the settings. Drive sharing rewards are updated every 24 hours, and you can view daily revenue records through a third-party wallet management platform.
Click to open the history. Now you can see the log containing the sharing status.
- Check the Stake Wallet and GNX Reward Information
Click on this menu to display the stake wallet and the GNX earned.
You can see your reward after the previous step. You can now click ‘Withdraw’ to transfer the reward to the wallet. As shown in the picture, you will receive a hash when transferring, and check the transfer progress via etherscan.io. It may take a longer or shorter time depending on network congestion.
The following is the status of successful transfer
Genaro Sharer (Linux version)
need a certain technical background
- Enter the command (Window-Start Menu-Enter cmd; Mac-Find Utility-Terminal)
- Install genaroshare-daemon
- Install dependency.mov
- Install node.mov
- Install genaroshare.mov
- New Configuration Setting
After executing this command, a JSON file will be generated or opened directly. Users who understand the configuration can change it. These configurations are advanced settings. Please confirm that you clearly understand what you have changed.
If you are not familiar with advanced settings, you can choose to enter directly:
genaroshare-create — — name < The name of the account (wallet) you need to add > — — noedit
The following diagram will be displayed：
This step will generate a new wallet. Remember the mnemonic, name, and password in the red box, as well as the private key, which you will need to retrieve the GNX revenue. This wallet is used for mining revenue, as well as stake; we suggest that one computer be used for building one profile.
The next step is to stake the generated wallet. The JSON file shown in the picture above can find specific settings. The corresponding 070932e1a01a4820836e4d32754821088ff8352d corresponds to the generated storage network ID.
Use of mnemonics: This mnemonic can be imported into other wallet software (such as Parity) for management (transferring in and out)
- Modify the default configuration
The previous step will generate a configuration file in which the shared attributes are set. There are several items that require customized modifications:
- The value after rpcAddress is changed from 127.0.0.1 to the public IP of the machine
- The value of doNotTraverseNat is changed to true (if there is a public network IP)
- Change the value of storagePath to shared path
- The value of storageAllocation is changed to the size of the space needs to be shared. The default is 20G.
- The user needs to guarantee the number of GNX in the wallet to perform subsequent operations
For the wallet address, see the value of Payment Address in the generated JSON file.
You need to ensure that there are enough GNX (greater than 5000) and ETH (0.0069395 ETH (20Gwei) — 0.01734875 (50Gwei)) in this wallet
Make sure that GNX and 0.0069395 ETH (20Gwei) — 0.01734875 (50Gwei) are used for gas because GNX now dispatches the mine through the simulator on ETH. The gas of the used block on the current version of the emulator on Ethereum is provided by ETH, and the version that goes online on both the test chain and the main chain will be implemented in full GNX.
You only need to enter the following command:
genaroshare stake — nodeID 070932e1a01a4820836e4d32754821088ff8352d — quantity 5000 — option 0
The node ID is the previously generated storage network ID. In this case, 070932e1a01a4820836e4d32754821088ff8352d, quantity is the amount of GNX to share. For details, refer to the mining rules. The option is the time, where 0 represents 30 days, 2 represents 60 days, and 3 represents 90 days, 12 represents 360 days
You can use the original consecutive commands：
2. genaroshare-start — config /Users/weilongwu/.config/genaroshare/configs/<your Json file>.Json
You can open the Genaro node and use the genaroshare status command to view the status, as shown in the following picture：
Only when the corresponding values of running, delta, port, and bridges are green is the connection considered successful.
- Check gained GNX，check stake (bet) wallet
Used to view the stake wallet and the number of GNX obtained, for example：
genaroshare-checkreward -i 70fbcba5bf304c0d5d3b37d97cc74498f7553a9d
- Transfer the gained GNX to the wallet for stake
genaroshare-getreward command, for example :
This command will print the transaction hash of the transfer and users can go to the etherscan.io website to check the progress.
For example, you can check via the transfer in the above picture：https://ropsten.etherscan.io/tx/0x11292d55051afe986749b98078c5a016b5e47ec138a77f3a969bbb2a097e00e2
(The link is Ethereum’s ropsten test chain, the main chain is the URL without ropsten.）
- Transfer the money out from the stake wallet
genaroshare-withdraw command, for example, ：
‘lishi’ is the name of the generated wallet in the step ‘genaroshare-create’. It can also be imported into other wallet software for wallet management via mnemonics generated during genaroshare-create.
This command also prints the transaction hash and can go to the etherscan.io website to check the progress.
For example, you can see from the transfer in the above picture：https://ropsten.etherscan.io/tx/0xdebb8228d1a436fe977a89b8e440b58610231d599892691332d36106bc9821c4
(The link is the Ethereum ropsten test chain, the main chain is without ropsten in the URL.）
- How to Update Genaro Sharer
The Genaroshare-daemon program will continue to improve, and you need first to check if there is a new version when you need to upgrade:
Check the local version number with the following command ：
npm list -g genaroshare-daemon
Check the latest version number with the following command ：
npm show genaroshare-daemon version
Enter the following command to install the latest genaroshare-daemon
npm install -g genaroshare-daemon
You can download the Genaro Sharer to have a try. After the installation is successful, you can make configuration files, set up wallet, stake and bet a certain number of tokens, and share your spare drive. We have prepared instruction documents and videos for your reference.
For more info, please check :
Genaro Sharer instructions: https://genaro.network/en/genaro-sharer/user-tutorial
Q1 What are Genaro Sharer double rewards and how to allocate？
Genaro Sharer double rewards are storage reward and PoS reward：
‘PoS rewards’ refers to the node as PoS and using GNX as bets to get reward. Before the main chain is launched, Genaro Sharer uses the Ethereum smart contract for bonus distribution, which is approximately 2% per year. The GNX bet is conducted monthly. The GNX is released linearly and settled on a daily basis. As long as you are online, you can get rewards. After the main chain goes online, the rewards of the betting node will mainly come from system rewards and transaction fees. The specific rules, etc., will be announced when the Genaro Network Testnet is released.
The storage reward is currently a bonus for contributing space. The calculation method is: 1 GB per year 0.1 GNX, 1 TB per year 102.4 GNX, and 1 PB per year 104857.6 GNX, depending on the actual user’s usage. For example, if you share 1 PB, but the actual user uses an average of 1 TB a year, the reward is 102.4 GNX. Later, Genaro sharer considers adding bandwidth-sharing rewards in the store rewards section. The tentative plans are: 1 GB/0.2 GNX, 1 TB/204.8 GNX, 1 PB/209715.2 GNX. The specific award depends on the actual user downloads, the current version. Bandwidth incentives are not yet supported and need to wait until later versions.
It should be noted that the node must perform PoS bets before sharing the storage space, i.e., it cannot gain storage rewards only.
Q2：Does Genaro charge？
Genaro does not charge any fees. Genaro Eden and Genaro Sharer are a complete sharing economy community. Users’ storage space, bandwidth, and the gas fee are all paid to the corresponding sharer node.
Q3：If there is no data assigned to my storage node, can I still be rewarded？
Before the main chain goes online, you can still get PoS rewards. Anybody who does PoS can get a 2% bonus. After the main chain goes online, whether the node is to be selected for the committee needs to be determined, and so on. If the shared storage space is not used by the user, the storage reward cannot be obtained. However, the system will perform online rewards, distributed according to the status of the nodes, and there’s a chance to receive rewards.
Q4：How long does the PoS bet need to be in place? Can I withdraw?
A node can choose to bet for 1–12 months. Before the main chain goes online, once the bets are placed, it is impossible to withdraw and the linear release is required. After the main chain goes online, it can be withdrawn, but there will be a corresponding slash mechanism. The main chain is expected to go online in the fourth quarter of 2018. If the bet time of the node is later than the main chain, Genaro network maps the node for special mapping and performs accurate settlement of the equal time bets so as to ensure the liquidity and fairness of the warrant.
Q5：What are the details of online rewards in <GNX allocation statement>？
A total of 5% of GNX, or 33.75 million GNX will be distributed to sharers over the next five years, corresponding to the use of free space and bandwidth by subsidized users and the sending benefits of sharing PoS until this amount is used up.
Q6: Is there any requirement on bandwidth or hard disk of mining?
The stability of the network is a main requirement. The minimum requirement for the contribution space at this stage is 4TB, and the number of GNXs required for the PoS is 5000. There is no bandwidth requirement, but the higher the bandwidth, the easier it is to become a node, and the bandwidth depends on the capacity of the hard disk. The recommended bandwidth is at least 10m, the port is 4000, and it can be mapped.
With the increasing number of network nodes, we will launch the Mining Pool to continuously reduce the mining threshold and allow more users to participate.
Q7： How to become a stable node? Is there any requirement on stake?
If you stay online it means your node is a stable one. The larger the bet, the bigger space can be shared.
Q8：If Genaro Sharer is accidentally stopped (manually or blackout), will I get punished？
Before the main chain goes online, PoS rewards can be obtained regardless of whether to share or pause/stop. The bet on the GNX is also safe. However, the storage award cannot be obtained.
After the main chain goes online, the system analyzes and judges the performance of the node (including the performance before the main chain goes online). If the node goes offline for a long time or the response is slow, it will be considered as a malicious node and the slash will be performed. On the contrary, if the node performs well, it will be elected to the committee and further may be selected to make a block node to obtain more PoS rewards. Rules will be announced after the Genaro Network testnet is released.
Q9：Will the hard disk mining rewards and PoS rewards be separated later？
In the current solution, there must be PoS bets in order to perform storage and sharing. After the main chain is released, there will be solutions to reward separation.
Q10：Does it support storing other ERC-20 Tokens now? What if I transfer in another ERC-20 Token? How to get it back?
Genaro Eden and Genaro sharer wallets can only store GNX and ETH. If you inadvertently transfer other ERC-20 tokens, you need to export the wallet and put it into the current mainstream ETH wallet (MEW, parity).
Q11: Can Stake be performed for GNX who has participated in the PoS pilot program?
Very sorry, no. If GNX is still in lock period, it will not be able to perform a new round of PoS to get rewards. However, the actual rewards for the system obtained by users who have participated in the PoS trial program for up to 8 months are higher than the current incentive for mining, which is to show our gratefulness to the long-term supporters.
Q12：Can the team recommend a good node configuration? Which one has higher efficiency as a node, NAS or RAID( redundant array of independent disks)?
Now mainstream computers are fine, because Genaro is not demanding on mining methods for GPUs or memory. NAS will be more efficient, mainly depending on the size of individual bandwidth.
Genaro’s latest versions, Genaro Eden and Genaro Eden Sharer, will allow you to store your files in a more secure way and share your unused storage to earn GNX. To download Genaro Eden and begin storing and sharing, follow this link: https://genaro.network/en/genaro_eden/
Get your Genaro Eden/Sharer for Linux, Windows and MAC OS right now from the official website:
Warm reminder to our community members, please download Genaro Eden ONLY from our official website/GitHub and DO NOT trust any referral links and reposts from anyone, otherwise, we won’t be able to guarantee privacy and security of your data and protect you from scammers.
Genaro Eden — The first decentralized application on the Genaro Network, providing everyone with a trustworthy Internet and a sharing community:
- About Genaro Network -
The Genaro Network, the creator of the Blockchain 3.0 Ecosystem, is the first Turing-complete public chain that incorporates a decentralized storage network. Genaro’s original SPoR (Sentinel Proof of Retrievability) with PoS (Proof of Stake) mixed consensus mechanism aims to create a blockchain platform with a processing speed of tens of thousands of transactions per second, which opens the way for the technological shift to move data from centralized clouds to blockchain with decentralized storage. Genaro offers developers a one-stop combined platform for deploying smart contracts and storing the data needed for DAPPs, while also providing everyone with a more trustworthy Internet and a sharing community.
Official Website: www.genaro.network
Telegram Community: t.me/GenaroNetworkOfficial
Originally published at genaro.network.