Starcoin 2.0 trial version has been online for 2 months, and many users have participated in mining. However, some users still have questions about Starcoin 1.0 and 2.0 mining, and we have received a lot of such feedback from you and admin correspondence.
In this regard, we have prepared an AMA to explain the issues that everyone is concerned about in detail. The following is the main content of this AMA.
First, we can see the difference between Starcoin 1.0 and 2.0 in the table below.
Then there are the issues related to mining that everyone is concerned about.
Q1: Can you participate in mining on the Starcoin 1.0 network now?
Yes. On March 8 this year, the main network resumed mining. You can participate in mining normally through stc miner-box and get rewards from generating new blocks.
Q2: How to get Starcoin 1.0 network mining income from the mining pool?
Mining rewards are distributed to the mining pool address by default. Since the main network has not yet resumed on-chain transactions, the miners’ income will be stored in the mining pool during this period. Please wait for the resumption of on-chain transactions to withdraw.
Q3: Does Starcoin 1.0 mining reward tokens have market trading value?
The STC tokens of Starcoin 1.0 mining rewards have market trading value.
Q4: After the Starcoin 2.0 network is officially launched, can the 1.0 network still be used?
Currently, Starcoin 2.0 is in the soft launch period, and the two main networks are running independently and do not conflict with each other. After the 2.0 main network economic model proposal is passed, the 1.0 main network will be migrated to 2.0 according to the relevant proposal, and the 1.0 main network will no longer be maintained.
Q5: What is the difference between the tokens of Starcoin 1.0 network and 2.0?
Currently, the tokens of Starcoin 1.0 network are the official tokens of Starcoin and have market trading value; the Starcoin 2.0, is still in the soft launch stage and has not passed the specific economic model, so the 2.0 token does not have a market value for the time being.
Q6: After the Starcoin 2.0 mainnet upgrade, will the 1.0 network continue to produce tokens? How will the tokens of the 1.0 network be handled?
After the Starcoin 2.0 network upgrade, a new economic model will be proposed. The migration of 1.0 tokens will be reflected in the economic model, and there will be specific mapping and destruction quantities. After the 2.0 official upgrade, the network and any new token mined by 1.0 will no longer be maintained.
Q7: Will the exchange STC also migrate to the 2.0 mainnet?
In principle, yes. But since the economic model proposal has not yet been announced, the specific plan will be announced after the economic model proposal is passed.
Q8: How should miners choose a mining network?
Please choose Starcoin 1.0 network mining. Currently, the Starcoin 2.0 network is in the soft launch stage, and the reward tokens do not have market trading value. Please choose the Starcoin 1.0 main network before the 2.0 main network is officially upgraded.
But if you want to experience the excellent performance of the Starcoin 2.0 main network, you are welcome to use it. You only need to download the client on your computer and you can mine with one click. See this specific tutorial: https://starcoin.medium.com/how-to-participate-in-starcoin2-0-trial-version-mining-458f19daad89
Q9: Can hardware mining machines still be used after Starcoin 2.0 is officially launched? Does the 2.0 mainnet use the same algorithm?
After Starcoin 2.0 is officially launched, it is planned to support all current mining machines (and use the same algorithm).
Q10: Which mining pools still support Starcoin mining?
It is recommended to use Dxpool or build your own mining pool: https://github.com/starcoinorg/starcoin/blob/stratum_doc/stratum/user_guide.md
About Starcoin
Starcoin provides the utmost security from the origin via its enhanced PoW consensus and Secure smart contract, using the language of Move. Through layered and flexible interoperability, it optimizes the building of ecosystems such as DeFi, NFTs, Gaming, etc., with higher efficiency and convenience. This process redefines value by empowering every participant in the ecosystem to enjoy the multiplication of values.
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