X11 algorithm for mining. what currency uses the x11 algorithm?

Spondoolies SPx36 - absolute champion

The company, registered in Israel, has been producing some pretty nice flat-box devices since September 2020. In 2014, they produced devices that accounted for 5% of miner power used. Then the models were called SP Bitcoin Miner. Now the company's portfolio has only one ASIC - SPx36. It is positioned as the best Dash miner in the world.

The devices are sold for 7,000 USD excluding delivery and other payments.

Its main characteristics:

With a three-cent socket, the profitability from one miner per month reaches 918 USD, per year - 11,020.

7,000/918 = 7.5 months is the payback period for ASIC without taking into account energy costs.

Pros of the Spondoolies SPx36 miner:

one of the most productive offerings on the market;
convenient layout;
per year, one device will consume about 1.1 thousand USD with a three-cent outlet.

Disadvantages of the Spondoolies SPx36 miner:

only six months warranty;
heavy weight;
loud noise.

Evan Duffield's opinion on the X11 algorithm and increasing mining difficulty

The protocol underlying the mining of the digital currency Dash, X11, is one of the most protected from special miners. It includes as many as 11 different hashing algorithms, making it incredibly difficult to create an efficient, yet inexpensive chip for it.

But the increase in mining difficulty only delayed the inevitable. Rumors about powerful ASICs capable of running the X11 algorithm have been circulating since mid-2020. Now they have become a reality. Two of the largest holdings in the electronic currency industry, DualMiner and Pinidea, have begun producing the world's first devices for mining the Dash coin. Although the devices have some negative aspects, their huge hashrate has benefited the system: it is now much more difficult to attack. As the creator of the Dash cryptocurrency, Evan Duffield, said, to maintain the network, this is the best option that exists. However, there is a possibility of centralization of the mining process, as happened with Bitcoin and Litecoin.

But the project team is already working on a solution to the problem with ASICs, which will help avoid the fate of the giants of the cryptocurrency world. Although the details are not yet known, in an interview Duffield said: “The likelihood of monopolization of the mining process is a consequence of unbalanced rewards.” He also focused on other issues: private mining of coins through exclusive applications before ordinary users can use them; mining using inexpensive electricity and cheap labor.

Putting all the components together, we can conclude that there are only a few places on the planet where mining cryptographic money will become profitable. Therefore, Dash developers do not consider replacing the X11 hashing protocol with more complex algorithms necessary. Instead, they plan to carry out some kind of “rebalancing of award priorities.”

One of the leading programmers and coders at Pinidea, which produces ASICs based on the X11 protocol, says that the company supports Dash solutions and expects it to continue to improve as a universal payment method. In addition, he said that the company will try to do everything necessary to reduce the centralization of electronic currency mining.

The emergence of the method of mining the digital currency Dash through ASICs, provided that the likelihood of monopolization is reduced, is seen as a rather favorable event for the platform.

FusionSilicon X7 Miner - stock for the future

The release of this device from the Chinese developer is scheduled for February 2020. However, the main characteristics of the “seven” are already known and they promise a rather “tasty” unit. Shipment to customers will begin earlier than March 1, 2020, but prices and capabilities can be judged now. As of the end of January, it is the second most profitable device for the X11 algorithm.

The estimated cost of FusionSilicon X7 Miner will be 1,600 USD.

With a three-cent socket, the profitability from one miner per month reaches 519 USD, per year - 6,228.

1,600/519 = 3 months is the payback period for ASIC without taking into account energy costs.

Pros of the FusionSilicon X7 Miner:

quick payback;
light weight;
low power consumption.

Disadvantages of the FusionSilicon X7 Miner:

It will be possible to start mining only in March;
loud noise.

What is the x11 algorithm

The x11 hashing algorithm was first used in the Darkcoin cryptocurrency in 2014, and then other coins began to be created on it. The name x11 is taken due to the fact that it uses 11 different hash functions to obtain the finished hash, these are blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo.

Thanks to the use of so many algorithms, the coin is considered very secure because in order to crack the x11 hash, all 11 hashes must be cracked. Even if one of the hashes is hacked, developers will be able to find out about it and take action to solve the problem.

Another advantage of the algorithm is energy efficiency. Video cards consume 50% less power when mining this coin; many users have noticed that the cards do not heat up as much. Previously, it could also be said that the algorithm was protected from ASIC mining, but at the end of 2020, ASIC miners for x11 were already released. Now let's look at the x11 cryptocurrencies that you can use.

Bitmain Antminer D5 (119Gh) - connected to a power supply

One of the world's major giants in the production of mining equipment also released a new product for the X11 algorithm in November 2020. It retains the layout typical of the new devices in the line - S15 and T15. Given the current state of the cryptocurrency market, it is on the verge of profitability and at the same time is not on the official website of the manufacturer.

The cost of Bitmain Antminer D5 (119Gh) from dealers is approximately 1,380 USD.

With a three-cent socket, the profitability from one miner per month reaches 247 USD, per year - 2,970.

1,380/247 = 5.5 months is the payback period for ASIC without taking into account energy costs.

Pros of the Bitmain Antminer D5 (119Gh) miner:

low price;
power supply included;
vertical layout.

Disadvantages of the Bitmain Antminer D5 (119Gh):

high noise level;
no overclocking possible;
The power supply is software connected to the miner.

Mining specifics

The main feature of cryptocurrency mining on X11 is its financial profitability in comparison with other algorithms. Mining efficiency is expressed in three components:

Innosilicon A5+ DashMaster - outdated, but still useful

In March 2020, the manufacturer Innosilicon rolled out a new miner for mining primarily the Dash cryptocurrency. Today it is, perhaps, a bait for those who want to take risks in not the best conditions. However, even now you can make a profit per day, but expect a long payback.

The cost of Innosilicon A5+ DashMaster at dealers and on the manufacturer’s website is 2,300 USD.

With a three-cent socket, the profitability from one miner per month reaches 146 USD, per year - 1,750.

2,300/146 = 15 months is the payback period for ASIC without taking into account energy costs.

Pros of the Innosilicon A5+ DashMaster miner:

light weight;
four fans;
compact sizes.

Disadvantages of the Innosilicon A5+ DashMaster miner:

exorbitant price;
high noise level;
small operating temperature delta.

Payback of ASICs using the X11 algorithm at this time

Today, the miner market is literally bursting with abundance. There is a wide variety of devices operating on the X11 algorithm. Moreover, their number is such that it can not only significantly reduce the profitability of coin mining, but actually completely kill the profitability of such devices. To understand whether the game is worth the candle, you need to calculate the profitability of the most famous X11 ASICs.

Unfortunately, there are currently not too many truly valuable currencies that are based on this technology. The most popular ones were chosen for calculations:

The miner from PinIdea with a performance of 1500 MHs/s was tested first. Using it, I managed to earn in a day: AdzCoin - $12, Dash - just over $7.
Next comes the ASIC from iBeLink with a capacity of 384 MHs/s. Test results: AdzCoin - $9, Dash - $5.
Next is a device produced by Baikal. Indicators 150 MHs/s. At the end we received: AdzCoin - 4 dollars, Dash - only 1.5 dollars.
Finally, the final test subject is a portable miner from PinIdea. Rated power is a modest 19 MHs/s. The results are as follows: AdzCoin - $0.21, Dash - $0.11.

All calculations were carried out at the end of 2020 and were based on the then exchange rate. In addition, electricity charges were not taken into account. As you can understand from the results, the X11 ASIC is a very expensive purchase, which may not recoup the funds invested in it. If the situation continues, the payback time of the device will exceed more than 1 year. If you have already purchased this device, you can try to sell it or monitor new profitable coins based on X11 technology every day.

The recent rapid growth and then equally rapid decline of Dash has demonstrated that buying these miners now is not the best idea. It would be best to wait until the situation on the cryptocurrency market stabilizes at least a little.

IBeLink DM56G - mysterious and inaccessible

This miner is already balancing at zero profitability. In addition, it is difficult to find out the price of it; you can only get on the waiting list and hope for an answer. The last batch has been sold out and whether there will be new ones is unknown. Although outwardly the device looked innovative and attracted consumers with its characteristics and price.

The cost of the latest iBeLink DM56G devices was 1,800 USD.

With a three-cent outlet and a falling exchange rate, the profitability from one miner per month goes into the negative. You can make a profit only with a free (or at least 0.01 USD) outlet. In this case, 122 USD comes in per month, and 1,466 per year.

1,800/122 = 15 months is the payback period for ASIC without taking into account energy costs.

Pros of the iBeLink DM56G miner:

light weight;
four fans;
compact sizes.

Disadvantages of the iBeLink DM56G miner:

exorbitant price;
high noise level;
small operating temperature delta.

ASIC miner X11: A5 DashMaster from INNOSILICON

The INNOSILICON company is already known to many miners, because it was one of the first to supply mining equipment to the market, and in particular ASICs themselves. Their new device A5 DashMaster is designed for mining Dash coin and other cryptocurrencies using the X11 algorithm.

The declared power of the device is as much as 30.2 GHz/s, which is 2 times more than that of the Antminer D3. At the same time, the stock power consumption of the A5 DashMaster fluctuates around 750 Watts. In addition, the X11 ASIC miner from INNOSILICON can be overclocked. In this state, the power increases to 38 GHz/s, and energy consumption - up to 1250 watts. The manufacturer himself claims that his device will last much longer than any other analogues, which is due to the large power reserve and fairly good energy efficiency.

Of course, you have to pay for everything. One ASIC miner X11 A5 DashMaster will cost you no less than 15 thousand dollars. The cost on the website is somewhat incorrect, so it is better to check it with the manager after placing the order.

The emergence of ASIC miners for the X11 algorithm once again proves that the cryptocurrency industry is taking huge steps forward, rapidly developing and growing. More and more hardware and software are being developed specifically for the digital industry.

conclusions

Thus, with an essentially free socket, the payback for 20 miners of the X11 algorithm in the first year will look like this.

Until recently, one of the main features of mining using the X11 algorithm was financial profitability. This was reflected in productivity, low energy costs and favorable altcoin rates. And if the first position from this triad held, then the rest, it seems, temporarily deprived the X11 algorithm of profitability. Therefore, now buying equipment from scratch looks risky. In any case, you should not hesitate and order and connect the miner to the selected network in a short time. Long delivery times will increase the payback period, which, given continued volatility, can negatively affect profits.

We deliver the latest news in our telegram channel!

X11 ASIC

At the beginning of 2020, ASICs running the X11 algorithm began to appear, slowly pushing GPU miners out of the game. Currently, there are many ASICs that can use this algorithm more efficiently.

They make up the bulk of the network hashrate. Therefore, this algorithm can no longer be mined using simple video cards.

Although X11 no longer provides ASIC resistance, many coins still continue to be created using this algorithm. Most of them were created back in the days when X11 actually resisted Asik.

Fine! Now let's look at all these coins that run on the X11 PoW algorithm.