We are excited to announce that Offline Mining will soon be available for public testing on Cerium Testnet. Cerium Testnet will be launched on the 23th of July.
Canxium is revolutionizing the blockchain industry with its unique approach to mining and commitment to creating a more sustainable and decentralized future. A key feature distinguishing Canxium from others is its innovative concept of offline mining. Canxium’s offline mining is a new concept never seen in crypto.
So, you may wonder what exactly Canxium’s offline mining is and why it is such a game-changer. Let’s dive into the article to learn more about offline mining, its benefits, and its impact on blockchain mining.
In traditional mining, a miner must connect his equipment to the internet to interact with the blockchain network and validate transactions. However, Canxium’s offline mining takes a different approach.
In simple terms, Canxiums’s offline mining enables miners to mine CAU without needing a continuous internet connection. With offline mining, miners don’t need to rely on centralized mining pools and internet connections. You can mine CAU from any place in the world with just your mining devices.
The Process of Offline Mining
To start offline mining CAU, miners must create a new private key and address. Then they can choose their desired mining difficulty and initiates a new transaction. The higher the difficulty chosen by a miner, the greater the reward. The critical mining stage starts when miners search for a valid mining nonce. Once they find it, they broadcast the transaction to the Canxium blockchain. The block miner validates and seals the broadcasted transaction to block, and new CAU is created as a reward. The reward is shared between offline miners, block miners, and foundation funds.
Offline Mining in Action: A Real-Life Example
For a practical explanation of offline mining, consider the following example: 0x9dffdad4f76194e252a17e22a1a6a1c9b8a7d58199ae59967edcae8b27e4b704
In this case, a new 0.000000425 CAU is created as a reward for the miner’s coinbase address 0x41099D0d1F6EE7B5Ec12b951C3792Fb77EB83226. This reward is granted for the miner’s work on a difficulty of 1GH during that transaction. 0x8FFA637CE2709ABFDe8f919eab6C2fAbc28864AD is just a temporary address with no balance, created by the miner to initiate a transaction. New 0.00000005 CAU (10%) is created for the foundation wallet: 0xBd65D6efb2C3e6B4dD33C664643BEB8e5E133055. New 0.000000025 CAU (5%) is created for the block miner: 0x13eF4429237C5869d4EdE4B7C163693246701058
Benefits of Offline Mining
There is a vast list of benefits of offline mining. Some main advantages are listed below.
Canxium’s offline mining mechanism makes mining accessible to everyone. It enables a broader range of people to mine CAU, irrespective of the region. Now anyone can mine CAU from anywhere, whether they are mining from Sahara. Miners in regions with limited internet access can now participate in mining operations on Canxium.
Decentralization and Empowerment
The main disadvantages of mining pools in traditional mining are profit-sharing, fees, and centralization. Canxium’s offline mining offers a significant advantage to the miners by eliminating the need to rely on public mining pools like in traditional mining. Now miners can operate independently by choosing their desired difficulty level to maximize their profits.
In offline mining, the miners can work comfortably by just focusing on their selected difficulty without competing against each other, as in traditional block mining. Canxium’s approach promotes a more decentralized network, promoting fairness and transparency. This power shift aligns with the foundational vision of blockchain technology.
Gas-Free Transactions for Offline Mining
Canxium’s offline mining transactions are gas-free. It eliminates the need to pay transaction fees for the miners and maximizes profit. It ensures that the miners can focus on the mining process without worrying about additional fees.
Flexibility for Miners
Canxium offers flexibility to offline miners to hold their transactions until they want to receive their CAU reward. This feature enables miners to control and strategize their mining activities more effectively.
Voting Rights and Governance
According to Canxium’s roadmap, offline miners will be given the privilege of voting for validators in the future. The validators voted by offline miners will seal blocks and safeguard the network. This democratizes the decision-making process of Canxium. It also gives miners a voice in the governance of the Canxium ecosystem. Such a decentralized approach makes sure that the network remains secure and trustworthy, and the power is vested in the hands of those who contribute to Canxium’s growth.
A New Era for Mining
Canxium’s offline mining can bring a significant change in the mining industry. It has several advantages over traditional mining. It offers broad accessibility; now, people from anywhere mine cryptocurrency. As offline mining gains momentum, mining power will become more decentralized. The dependency on centralized mining pools vanishes. Unlike traditional mining, miners who are worried about centralization due to power can mine without worrying about unnecessary competition. Now miners don’t need high-power equipment and can mine at their desired difficulty. Canxium offline mining maximizes profits for miners so that they can create a steady income flow. Canxium also gives miners the right to vote for validators and make decisions for the platform. The unusual flexibility given by Canxium to miners while ensuring community-driven growth can bring change to the mining landscape. Canxium takes centre stage in making a more inclusive and prosperous future for all miners and crypto enthusiasts.
When will Offline Mining be Accessible?
The question on everyone’s mind is when will it be accessible? Canxium is dedicated to bringing offline mining to life, and its development is almost completed. You can test offline mining on Cerium Testnet on the 29th of July. Offline mining will be available on the mainnet at Hydro Fork. The only difference between mainnet and testnet is the minimum difficult: testnet is 1GH, mainnet is 500GH.
Many of you will be eager to know more about technical details of Offline mining. So we will publish complete technical details and a guide soon.
Written by Talha Tariq