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How to Dismantle IOTA in 2019 | Mining guide for beginners

The variety of blockchains that have emerged in recent years has also created a variety of mining protocols. With a mining protocol, network users can create a new block and new cryptos or tokens. However, IOTA is a very special advantage in this regard, as you will soon learn in our tutorial on mine clearance from IOTA.

IOTA overview

Iota_logoIOTA entered the crypto space back in 2015 via an ICO that collected 1,337 Bitcoin, which at these prices was around $ 500,000.

IOTA is a unique crypto as it uses a publicly distributed ledger that is not based on blockchain or generating new blocks. Instead, the asset is based on directed acyclic graph technology and the Tangle protocol, which handles the consensus without miners.

The project is overseen by the IOTA Foundation, a non-profit organization that manages the development and establishment of strategic partnerships. IOTA works with top companies such as Fujitsu, Samsung, Bosch and Volkswagen.

The network doesn’t need a blockchain to maintain its security, instead of being made up of the Internet of Things, a network that includes billions of online electronic devices.

The consensus mechanism of the network is managed by the sender. Senders validate the previous two transactions on the network before confirming their own transactions. This protocol, unlike most consensus-based PoW protocols, was designed to provide more scalability, decentralization, and no transaction fees.

Instead of having slower traffic and higher fees, the IOTA network becomes stronger with more users, which speeds up the transaction process.

Since the consensus mechanism is integrated into the sender’s protocol, IOTA practically does not have to be dismantled.

If IOTA has no blocks, you are probably wondering how to mine IOTA? From a technical point of view, this is not possible as all IOTA ever made were sold when the coin was released.

In this case, why should one explain further how to dismantle IOTA?

Well there are a few things you can do to generate MIOTA coins:

  • You can run a full node and get MIOTA for your services.
  • You can use mining platforms (faucets) that MIOTA mine second hand.

i IOTA

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How to dismantle IOTA via faucets

  1. Go to the IOTA GitHub page.
  2. Scroll down until you find the list of operating systems and download the list for your particular computer.
  3. When the download is complete, start installing the wallet.
  4. You will be asked if you want to do a full knot or a light knot. Select the Light Node option.
  5. Enter your IOTA startup phrase. The starting phrase is proof of your possession of an IOTA wallet.
  6. Generate seeds by clicking the link: https://ipfs.io/ipfs/QmdqTgEdyKVQAVnfT5iV4ULzTbkV4hhkDkMqGBuot8egfA
  7. Click the “Attach to Tangled” button set under the 3D barcode.
  8. Copy the generated address.
  9. Visit the IOTA website for faucets. This faucet pays you in IOTA when you mine different coins like Monero.
  10. Paste the address you copied into the IOTA public address field.
  11. Click on “Submit”.
  12. Your PC may ask you for permission. Giving permission.
  13. You are now dismantling MIOTA.

Withdraw MIOTA

Click on the “Withdraw” button that appears on the right of the screen to withdraw your mined coins. You will be placed in the payment queue after you request a withdrawal.

There is no minimum withdrawal limit.

How to dismantle IOTA via full node

Minimum software and hardware requirements for setting up a node:

  • Iota mining8 to 12 GB of RAM;
  • 25 GB storage space;
  • Dual core CPU;
  • 24/7 connectivity;
  • Ubuntu (16 or 17) or CentOS;
  • a VPS (Virtual Private Server).
  1. Get access to the server (IP address and user password) and log in remotely using the command line (or PuTTY in Windows):

$ ssh your_username@IP.address.to.server

  1. Enter password. Make sure you have sudoer privileges and run sudo su if you don’t have root.

IRI, IOTA Reference Implementation, is based on Java. So make sure Java and Maven are installed and JAVA_HOME is set.

  1. Run

$ bash <(curl -s https://raw.githubusercontent.com/nuriel77/iri-playbook/master/fullnode_install.sh)

This command gets the deployment script, which finds system parameters, downloads the required software and its dependencies.

  1. Install the latest version of IRI using the following commands:

Git clone https://github.com/iotaledger/iri
cd iri
mvn clean compile && mvn package

  1. Now you need some static neighbor addresses (a minimum of 4 and a maximum of 7 neighbors on basic configuration systems).

Create an INI file to save all command line options:

Cat << "EOF" | sudo tee iota.ini

[IRI]
PORT = 14265
UDP_RECEIVER_PORT = 14600
TCP_RECEIVER_PORT = 15600
API_HOST = 0.0.0.0
IXI_DIR = ixi
HEADLESS = true
DEBUG = false
TESTNET = false
DB_PATH = mainnetdb
RESCAN_DB = false
REMOTE_LIMIT_API = “removeNeighbors, addNeighbors, interruptAttachingToTangle, attachToTangle, getNeighbors, setApiRateLimit”

NEIGHBORS =
EOF

  1. Send UDP and TCP node addresses to your neighbors:

#Many neighbors only want to use UDP so all you can do is write this down

udp: // your_ip: 14600

tcp: // your_ip: 15600

  1. Look for neighbors at https://discord.gg/GMVXSvM.

Access # rank-yourself and write the command! Rank fullnode to join fullnode.

Go to #nodesharing and ask about neighbors there.

  1. When you have your neighbors, add your neighbor’s addresses to the NEIGHBORS value.

NEIGHBORS = udp: // address1: 12345 tcp: // address2: 12345 tcp: // address3: 12345

  1. Start IRI with the following command:

java -jar iri -_._._._. jar -c iota.ini #_ is where you put your version of iri

How to dismantle IOTA: activate Nelson

The basic IRI is attached to a structured overlay network of neighbors in the Tangle via a JavaScript wrapper called “Nelson”.

Nelson is a type of network monitor and manager that discovers peers, negotiates connections, balances traffic, and protects against malicious users.

Bolero is a similar cross-platform application suite for Windows users that allows them to generate the entire full node setting with just one click.

Once installed, you can view the URLs that the Peer Manager and Grafana dashboard (monitor CPU I / O usage) are set to.

  • Log into the Grafana interface on port 555 and / dashboard / db / iota? Refresh = 30s & orgId = 1 with the default username “iotapm” and the password used during installation. This allows you to remotely access node statistics and health metrics through a basic interface, rather than having to access the remote server directly through ssh.
  • In the running SSH console to the remote VPS, run the $ iric command to call up the GUI configuration interface of your node.
  • Download the synchronized database (“Get Fully Synced DB”).
  • Activate Nelson.

Iota Mining2

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How to dismantle IOTA: Activate CarrIOTA field

CarrIOTA is a public load balancer that optimizes node performance and resource consumption in the network. It serves as an additional level of security and offers protection against DDoS attacks. It also calculates statistics and provides health metrics for an IRI and its neighbors.

CarrIOTA Field also acts as an incentive by extending transaction times and thus stabilizing the network. In addition, weekly IOTA token donations are made to attendees performing proof-of-work (the simple Hashcash-type PoW that is not used by Bitcoin).

  • In the configuration GUI, enter a unique identifier (any character string) and an address to receive the weekly donations.
  • Put the semen in the wallet.
  • Copy the generated receiving address.
  • Paste the address into the address field of the configuration GUI.
  • Enable Proof-of-Work for Field to submit attachToTangle jobs to the full IRI node by accessing “Configure Files” and typing “Field”.
  • Change the line “pow” from “false” to “true”, Ctrl + O to save and Ctrl + X to exit. (alternate command line function: –pow –address field IOTA_ADDRESS)
  • Go to http://field.carriota.com/ and use the identification string provided to verify that the node is in Tangle in Field.

IOTA Mining Profitability in 2019

How much you earn from an IOTA node depends on various factors, such as: B. the demand for the status and activity of the network, the competition, the configuration of your server and the price of MIOTA.

As of today, you should earn between 12-15 MIOTA if you run the knot monthly. At current prices this would translate into a profit of around $ 4.

Mining IOTA: conclusion

With IOTA, the “mining” process is not like with other cryptos, but in our manual we have shown you some options on how you can mine IOTA unconventionally.

Featured image: blokt.com

Note: The information in this article and the links provided are for general informational purposes only and should not constitute financial or investment advice. We encourage you to do your own research or consult a professional before making any financial decisions. Please note that we are not responsible for any loss caused by information on this website.

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