Qitmeer Network is a new generation of blockchain dedicated to enhancing financial inclusion and creating social impact. It adopts a classic PoW consensus, UTXO data model, and applies a BlockDAG protocol to achieve high throughput while maintaining strong security and decentralization.
With support from the HLC Foundation, Qitmeer’s research and development began early 2018. The open source code was published on GitHub on 2019-06-30 and on 2021-09-30 its new stage, Umayyad Network Mainnet, went live.
What is Qitmeer mining?
Qitmeer adopts a hybrid consensus model called MeerDAG that combines SPECTRE and GHOSTDAG, both BlockDAG protocols.
Like Bitcoin, Qitmeer uses a UTXO model in which each transaction spends an output from a prior transaction and generates new outputs that can be spent on future transactions.
To keep the block creation rate stable, Qitmeer adjusts the mining difficulty about every 30 minutes.
|Total supply||210.4 million MEER|
|Block time||30 seconds|
|Current block rewards||10 MEER|
|Mining device||ASIC or FPAG miner|
|Mining channel||Official channel|
|f2pool mining community||Reddit channel|
|f2pool address||Server address|
What hardware do I need to mine Qitmeer?
✅ Qitmeer can be efficiently mined with FPGA or ASIC machines.
❌ Qitmeer cannot be efficiently mined with CPUs and GPUs.
Check out the f2pool Popular Miners page for detailed information such as hashrate and power consumption for Qitmeer mining devices.
How do I set up the software and create an account?
Step 1: Create a wallet address
Creating a wallet address is always the first step when diving into a new blockchain network. You’ll need a wallet address to check and receive payouts to mine Qitmeer with f2pool.
You can choose to run a full node as a wallet or use another wallet solution. You may choose the KAHF wallets, or an exchange such as Jubi. Note: You should always do your due diligence when choosing a wallet provider or exchange.
Step 2: Create an f2pool account
You’ll need to create an f2pool account before mining Qitmeer. If you don’t have one yet, please click here to register.
Set an account name. This will be required for configuration. You are free to create multiple subaccounts to monitor your workers/miners.
Now, add your Qitmeer wallet address created in Step 1 and add enter it in the payout settings. You can set a payout threshold and check hashrate changes and your rewards once you start contributing mining power.
You can add or change your payout address in your Payout Settings. f2pool distributes mining revenues daily to every user who reaches the payout threshold.
Step 3: Configuration
Now that you have a wallet and an f2pool account name, you can proceed to configure your mining device.
ASIC and FPGA miners are easier to use compared to GPUs and CPUs, which are not profitable for mining Qitmeer. No mining software is required to be run on your computer. All you need is the proper electricity set-up to meet the power consumption requirements and a reliable internet connection.
Please note that your ASICs or FPGAs should have a wired connection to your local network and that your computer and your devices should be on the same network.
Use any modern browser that accesses the IP address of your machine, then connect to an f2pool server. You’ll need to enter the following information into your mining device:
Password: Enter a password of your choice
accountNname is provided in your Account Settings.
workerName is optional, but we recommend labeling each of your mining devices with a separate
workerName for more efficient monitoring.
ASICs or FPGAs take just a few steps to configure. Once you’ve configured your device and saved your settings, you’re ready to start mining and earning rewards.
How do I check my rewards?
Now that you’ve started mining, you can calculate the revenue your devices are generating. We’ll also give you an overview of how fees and payouts work with f2pool.
Check the block reward on-chain
Visit the Qitmeer block explorer to get a better understanding of the decentralized world you’re powering with your hashrate. Input your wallet and transaction details to find on-chain information, such as payouts from f2pool.
Calculate what you can earn
f2pool calculator tool
You can use our calculator tool to easily estimate your potential revenue from popular mining machines.
Verify your payouts from f2pool
Once your device has started mining and submitting data to the pool, you can access real-time reward records from f2pool.
View your records
As long as your miner is submitting your hashrate successfully, you will receive payouts from f2pool.
To view your real-time Qitmeer mining payout records, visit the f2pool website and sign in to view your records.
The f2pool app is also a convenient option for checking your rewards.
How f2pool calculates rewards
f2pool calculates rewards using PPS (Pay Per Share) and charges 3% from your rewards as commission. When the coins in your account reach the minimum threshold of 10 MEER, you will receive a payout within 24 hours.
Details about our payout method and fees can be found here.
Start mining today!
Now that you have all the info you need, it’s time to start securing the network!
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