Monero is one of the most popular cryptocurrencies, and it is from it that the Aeon cryptocurrency originates, which became a fork of one of the earlier versions of Monero. The challenge facing the Aeon developers was to create a token that could be mined on both processors (CPUs) and graphics cards (GPUs), while also having a certain degree of resistance to ASIC platforms.
So, you can mine Aeon using both CPU and GPU. In this article we will tell you how to mine Aeon and why this activity can really bring considerable benefits. In fact, we will provide you with a step-by-step guide, divided into three key parts:
- Selecting the optimal equipment and software for mining
- Installation and configuration of the system that will be used for Aeon mining (the so-called “riga”)
- Joining the mining pool for Aeon mining
And don't forget, if you want to mine Aeon with as little effort as possible, then definitely consider signing up with a cloud mining service provider that supports Aeon. In this case, you no longer have to worry about buying expensive hardware or paying electricity bills, which can be very, very impressive. Later in this article we will return to the topic of cloud mining.
- Why Aeon Mining Could Be Profitable
- Optimal mining Aeon
- What you need to mine Aeon
- Choosing equipment for mining Aeon
- What else you need to think about before starting Aeon mining
- Setting up mining rig hardware and software
- Cloud mining Aeon
- Determining the profitability of Aeon mining
- Common questions about Aeon
- And a few more facts about Aeon
Why Aeon Mining Could Be Profitable
As we have already said, Aeon is a fork of Monero, created specifically to make a cryptocurrency that would be more convenient to work with on mobile platforms. We can say that Aeon is a token not only for desktop computers, but also for laptops and even smartphones. Aeon is based on a proof-of-work algorithm, which makes it possible to verify transactions on the blockchain of this cryptocurrency much more efficiently (faster) than Monero.
Aeon's speed gain is made possible by the fact that less data is written to the blockchain. As a result, transactions become more anonymous, and even owners of computers with small amounts of permanent memory can start mining Aeon.
And these are not all the differences between Aeon and, say, Bitcoin. Aeon is based on the CryptoNote algorithm, which provides high-level verification and results in more orphan blocks. This proof-of-work verification mechanism requires much less computing resources, which makes it possible to verify Aeon transactions tens or even hundreds of times faster than a number of other cryptocurrencies.
Additionally, all payments sent through the Aeon network are anonymous by default. But if you need to make a transfer that can be tracked, then you have all the necessary tools to do it. For payments that are not confidential, the Aeon network provides a fast and free transfer method, the so-called “exchange transfer”. Generally speaking, Aeon plays on all of Monero's technical strengths while adding its own unique twists. This is quite logical, because the creators of Aeon are a separate community with their own very specific goals. And it may well turn out that Aeon will be the ideal token for mining for you.
Flaws
In addition to the positive aspects, this crypt has a number of disadvantages that have a negative impact on the pace and direction of development of this site.
The main negative aspects of AION are its following properties:
- the youth of the crypto platform, which causes certain concerns among users who want to join this crypto project;
- unclear future prospects;
- lack of necessary financial instruments to fully finance the development of announced technologies;
- despite the announced possibility of cryptocoin mining, it is still difficult to find information on the Internet about where to mine this token;
- lack of contact between members of the cryptocurrency community and the team of coin creators.
To achieve ultimate success and enter the top ten largest and most popular crypto-assets, the authors of AION will have to work hard to eliminate the listed shortcomings.
Optimal mining Aeon
You don't have to buy the latest ASIC mining rig to mine Aeon - a computer with a sufficiently powerful processor (CPU) or video card (GPU) will do, and both Nvidia and AMD video cards are supported. When it comes to mining, you will have more than enough different options - take at least Claymore, SRB miners or maybe something like XMRig. Personally, however, we think that the best option for you is XMR-Stak. XMR-Stak is an application available on Github, and in order to start mining Aeon effectively, all you need to do is install it and configure it correctly.
In addition, XMR-Stak has an interesting feature - with this program you can use both CPU and GPU for mining at the same time. In addition, this program has a fairly user-friendly interface, and it also implements a function for optimizing system performance, due to which you can reach the maximum hashrate for your platform. XMR-Stak will provide you with detailed statistics on all aspects of your work, and you can also use this program while working through various mining pools. However, it must be remembered that XMR-Stack is currently in an active development phase, which means that in the near future the capabilities of this program may expand.
What you need to mine Aeon
When it comes to Aeon mining, the main issue should be the acquisition of hardware. However, there are a number of other points that need to be worked out. For example, how is your Internet connection? Can you rely on him? The fact is that you will need 24/7 access to the Internet and, as a result, the blockchain, in order not to miss the opportunity to receive payments for confirmed blocks. You will also need a crypto wallet that supports Aeon tokens so that you have a place to receive payments for mining. In general, here's what you'll need:
- Buy mining equipment (we recommend choosing a GPU-based rig)
- Find mining software compatible with Aeon
- Make sure your Internet connection is strong enough and fast (at least 8 MB/s)
- Create a wallet to store Aeon tokens
Conclusion
Nuco plans to pave the way for future blockchain technology. The Toronto company is creating the third generation of blockchain technology with its Aion network. The network protocol blocks will be interoperable from scratch, which essentially means that the blocks will be able to talk to each other.
Today we have hundreds of blockchains. In the future, this number will grow to thousands and probably even millions. We need a way to link blocks to each other - and Nuco plans to create this ecosystem.
buy cryptocurrency on the Binance exchange, review of the exchange here... or on the KuCoin exchange, review of the exchange here...
Choosing equipment for mining Aeon
Firstly, in terms of software compatibility, we would advise you to use XMR-Stack, as this program provides maximum flexibility. You will be able to use both CPU and GPU, and you will also be able to choose both AMD and Nvidia graphics cards. In addition, this program supports a large number of different models of central processors - but we would, of course, advise you to use the latest models from AMD or Intel.
Before you grab your wallet and take money out of it, always and everywhere compare and analyze. Know all the important aspects of a mining platform before purchasing. Consider the cost of video cards, their hashrate, the amount of electricity consumed, and so on.
What else you need to think about before starting Aeon mining
Cryptocurrency mining platforms require huge amounts of electricity to operate. As a result, they get noticeably hot, so you will need to ensure they are properly cooled. In fact, you must provide everything that is required for the smooth operation of the rig, and cooling is the difference between you regularly missing out on profits or generating a stable and constant cash flow.
In addition, it is necessary to take into account such a factor as noise. Most likely, you will cool your rig using special cooling fans, and they make noise when operating. Accordingly, your mining rig should be located somewhere where noise will not be a problem for others. Plan ahead, seek advice from experts - trust me, your rig will really make noise.
You will also need to determine whether you are going to mine Aeon on your own (solo mining) or are ready to join an Aeon mining pool. We believe that working through a mining pool is a more profitable option, since this format involves regular payments. In fact, you will receive payments in smaller amounts, but regularly - as opposed to the occasional large payouts typical of the solo mining format. Of course, you will have to pay a small commission for working in the pool, but this is more than compensated by the confidence that you will receive your payments regularly (usually once a day). We can say that in most cases, mining pools are the best option.
There are many mining pools out there at the moment and they will all be happy to have a new miner. When choosing a pool, be sure to consider factors such as the location of the servers (this will affect the speed of data exchange) and, of course, the payout system used by the pool.
Setting up mining rig hardware and software
From the following guide you will learn everything you need to know about preparing for operation of the Aeon mining rig on a computer running Windows OS. All instructions given are written for XMR-Stak. In addition to XMR-Stak, you will need a wallet that can accept Aeon tokens, as well as an Internet-connected computer running Windows OS. We will also tell you how to connect to your chosen Aeon mining pool. One more thing: we advise against using wallet addresses belonging to cryptocurrency exchanges that trade Aeon - instead, it is better to use your own Aeon wallet.
- Find your wallet address and copy it to the clipboard Find your wallet address and copy it to the clipboard so you can paste it into your mining application.
- Download and run XMR-Stack You can download XMR-Stack on Github. After that, find the xmr-stak-win64.zip archive in the folder where you will save it, extract it to the desired folder and go there. Next, you will need to double-click on the xmr-stak.exe file to launch the mining application. You may see a warning from Windows or your antivirus program, but you can safely ignore it by clicking “Yes” or “Allow to run” in the appropriate window.
- Command >XMR-Stak to start mining Aeon Open XMR-Stack, type “aeon7” and press Enter to get started.
- Connect XMR-Stack to your mining pool Enter “mine.aeon-pool.com:5555” and press Enter. This will let the program know that you need to use the appropriate pool to mine Aeon. Your PC will, as a result, start mining through the selected pool
- Enter your wallet address Your wallet address should be stored in the clipboard. To paste it, click on the program icon located in the upper left corner of the XMR-Stack window - open the menu, select the Edit submenu, then click Paste. Press Enter again. If your wallet address has disappeared from the clipboard, then simply minimize the XMR-Stack window, copy the wallet address again and paste it according to the instructions.
- Password and questions Leave the field where you are supposed to enter the password blank. Make sure that in all other windows that appear you also click on “No”. The fact is that a password is not needed to access data about how efficiently the mining process is going, and all payments from the pool will be automatically sent to your wallet. If you did everything correctly, your XMR-Stak application will now be connected to the mining pool and will begin actively mining Aeon. You can find out the connection status during mining by pressing the “c” key. To find out the hashrate, press “h”, and to see the results table, press “r”.
Cloud mining Aeon
For many of us, the process of setting up XMR-Stack can be overwhelming. In addition, the cost of mining equipment is obscenely high and can make a huge hole in the budget. And here we cannot help but remember the alternative solution - cloud mining, when you rent computing resources for Aeon mining. In this case, you will no longer have to buy hardware or pay electricity bills. You simply sign an agreement with the provider of the appropriate computing resources.
Cloud mining has many advantages: you don’t have to spend money on buying an expensive rig, the results will be available immediately, and you won’t have to deal with noise or overheating problems. Finally, you will be able to receive payouts in any cryptocurrency of your choice, not just Aeon tokens.
Which crypto exchanges have the largest trading volume for the AION cryptocurrency?
Screenshot of the most popular trading pairs as of March 14, 2019
Popular exchanges for trading AION: Binance, CoinBene and BCEX
Determining the profitability of Aeon mining
It's always good to know how much you can earn if you start mining Aeon: to do this, you need to determine how much mining will earn you and compare it with the cost of the equipment you will buy and the electricity you will pay. The result will definitely let you know whether this endeavor will be profitable or not. You can also use the calculator below to find out how much you will earn in fiat currencies (dollars and euros) - but here it is necessary to make a small disclaimer: since the volume of the block confirmation reward and, in fact, the value of Aeon tokens themselves are constantly changing, the results obtained should be considered only in a general sense, as an approximate level. They are not accurate and can change very quickly.
This calculator is very simple and convenient - just enter the hashrate of your device, its power consumption (in watts), as well as the cost of electricity and the amount of the mining pool fee you will pay. If you decide to use the services of a cloud mining provider, then everything is even simpler: enter the hashrate and the amount you will pay for the services.
Common questions about Aeon
How much will you have to mine to earn one AEON token?
It depends on the hashrate of your device. For example, if it is 2000 hashes per second, then it will take you 3 days to mine one AEON block.
How many AEON tokens can be created in total?
A total of 18.4 million AEON tokens can be created.
Is it possible to mine AEON using Raspberry Pi?
To be honest, the Raspberry Pi is not the most powerful computer out there. Technically speaking, yes, you can mine AEON even on microcomputers, but you will have to wait forever for the results, because the raspberry pi cannot do anything against the GPU.
How profitable is Aeon mining? Is it worth paying attention to this token at all?
For many miners, Aeon will be a great find, but again, it all depends on a number of factors. Use the calculator above to find the answer to this question for yourself.
Is it possible to mine AEON on iPhone?
Yes, you can mine AEON even on your iPhone. But keep in mind that this is not a very productive activity. In addition, there is a risk of iPhone failure due to overheating associated with mining.
Technical characteristics of the AION network
If we depict the operation of the AION system in the form of a diagram, it will very much resemble an ordinary local network, acting as an intermediary in the process of interaction between various Blockchain platforms. As a result, absolutely all platforms will be unified.
Data exchange is just one of the functions of the project; it will also allow the sharing of values, as a result of which a transaction chain will be formed. Connecting networks and cross-chain transactions create a universal interface that allows blockchain developers and ordinary users to send information from one network to another.
The network must provide the following basic technical capabilities:
- Sending any information between different blockchains using a common data conversion protocol (bridge protocol).
- Provide decentralized accountability.
- Provide a data conversion protocol
Routing cross-chain transactions is a multi-layered process. At all levels, validators check the authenticity of information and then decide whether the transaction should be carried out or whether it will be rejected.
The routing path can be divided into two subtrajectories: the forward path and the backward path. In a forward chain, an inter-chain transaction moves from the source chain to the destination chain. In the postback chain, the confirmation of the cross-chain transaction is sent back.
And a few more facts about Aeon
Aeon is a fork of Monero launched in 2014. The Aeon developers decided to do without both instamining and premining. They also decided not to take the so-called “developer tax”. The development and development of Aeon is entirely financed from contributions from ordinary participants in this network. It is known that in 2022, Aeon's development fund was US$1 million. Aeon is based on the CryptoNote protocol, and this cryptocurrency also uses the CryptoNight Lite algorithm.
And related to this is a number of key features of Aeon. Firstly, it is an anonymous cryptocurrency, so the very principle of its operation serves as another tool for protecting user data. It is impossible to track payments sent through the Aeon network due to ring signatures and transactions that simply cannot be linked into one sequence. The Aeon blockchain is also resistant to analysis and is not susceptible to armed ASIC miners - in other words, a CPU or GPU is enough to mine Aeon.
The maximum supply of Aeon is 18.4 million tokens. Currently, this cryptocurrency is under active development - in fact, the roadmap for the development of this project itself is a constantly updated document.
Aeon Development Team
The Aeon cryptocurrency was launched in 2014 on the Bitcoin Forum, but its developer chose to remain anonymous. However, by the end of the year the general state of affairs gave the impression of abandonment - the first developer abandoned the project. In 2015, Smooth, another cryptocurrency developer, took up the matter.
This reshuffle was well received by the Aeon user community, so Smooth continued work on Aeon, and at the same time on Monero. After some time, Aeon went through a rebranding, and the new team presented a new Aeon development roadmap to the public.
In April 2015, Smooth became the main developer of Aeon. Smooth is one of the most well-known and respected figures in the cryptocurrency space today. Note also that Smooth continues to work on Monero.
Aeon hashing algorithm
CryptoNote is the underlying protocol for Aeon, and the token uses CryptoNight-Lite as its algorithm. This means that you can use the all-in-one CryptoNight miner for Aeon. Bitmain released the CryptoNight ASIC miner, and many tokens based on CryptoNote were forked to change the way the proof-of-work consensus works. Aeon, for example, has implemented the Lite V7 algorithm.
How to purchase
The entire emission of Free TON network tokens, called TON Crystal, in the amount of 5 billion is placed at 3 addresses and is distributed among developers, validators and community members who make the maximum contribution to the development of the blockchain. Coins are distributed through competitions and collaborations. Each community member has the right to propose their ideas and put them to a vote. If an idea receives 50% of the votes plus one vote, it becomes approved and must be implemented. To date, more than 100 competitions have been held and more than 140 million TON Crystal .
TON Blockchain uses Proof-of-Stake consensus when mining is not required to generate blocks. When concluding the agreement, the Telegram team transferred the entire mass of 5 billion coins to proof of work givers smart contracts. New coins are obtained by mining contracts. Proof-of-work giver contracts have their limits, like all cryptocurrencies, and will run out when users have mined all the coins.
