Hive mining is a brand new and innovative method of Crypto mining introduced by Litecoin Cash. It was activated on 6th February 2019 at 18:05:49 GMT (block # 1564416). Litecoin Cash team improved Hive technology and implemented it in Ring too from the beginning of Ring blockchain.

Ring holders can purchase dwarves (Dwarf Army) simply by using the Ring core wallet installed on a personal computer or Raspberry Pi, and start Hive mining.

Dwarf Armies live inside the blockchain and act as virtual mining rigs. Dwarves have extremely low energy cost, so hive miners do not require any special hardware to mine blocks.

There is a “Hive Mining” tab in Ring core wallet. This tab consists of three categories, i.e. (1) Create Dwarves (2) Global Dwarf Army (3) Your Dwarf Army. This shows a table of hive miner’s current (live) and expired (dead) dwarves. For each dwarf army, it shows creation date, time to mature or time left to expire, dwarf cost and mining results.

When a hive miner creates dwarf army he sends the dwarves price (0.01 RNG per dwarf) to a special unspendable address. All hive miners send the dwarf price to the same address. A hive miner can create as many dwarves as he likes in a single count, but note that funds spent to create dwarves are destroyed (lost forever).

When a dwarf army (a group of dwarves) is created, the wallet generates a legacy address to receive the block rewards. This occurs each time a dwarf army is created. Whenever that dwarf army will mine a block, the rewards (block subsidy and transaction fee) will go to that address. Block subsidy is the amount that miners claim as a reward for creating a block, currently at 1.00 RNG and transaction fee is 0.00001000 RNG/kB. If the hive miner wishes to receive all rewards from each dwarf army in a single legacy address, then he must create dwarves using “Console” window.

Hive miner has an option to send 20% of dwarf price to the community fund that will use to cover the development costs of the project. Hive miner will still receive the same amount of dwarves irrespective of this choice.

Dwarf creation form

For example: A hive miner wishes to create 1000 dwarves. This will cost 10 RNG (1000 x 0.01). He will send 10 RNG to an unspendable address, effectively destroying all of the coins. The hive miner may choose to send 2 RNG (10 x 20%) of this amount to the community fund or may destroy all 10 RNG by not sending to the community fund. In both cases the hive miner will receive 1000 dwarves, with 10 RNG plus transaction fee deducted from the account balance.

Once the hive miner has created dwarves and the transaction has appeared in a block, dwarves will be displayed in “Your Dwarf Army” section. Dwarves take 2880 blocks (approximately 24 hours) to mature. During this time the wallet does not need to be online. When matured, dwarves will attempt to produce a new hivemined block every time they observe a new incoming proof of work (PoW) block or proof of play (PoP) block. This mining attempt takes only a fraction of a second even for a large dwarf army and does not cause any lag or lock-up of computer. To see your expired (dead) dwarf army check “Include expired dwarves”.

Your Dwarf Army table

The lifespan of dwarves is 30,000 blocks (approx. 10 days and 2 hours). When the dwarf army is alive (mature and working within the blockchain) the hive miner needs to keep the wallet online as much as possible. Dwarves can only work when the wallet is connected to the network and unlocked (if the wallet is encrypted). If the wallet is locked or offline during the working lifespan of dwarf army they will be unable to mine blocks but their lifespan will still decrease.

You can see a brief report of your dwarf army on “Home” tab. If you checked “Include expired dwarves” on “Hive Mining” tab then the report will include expired dwarves else it will exclude expired dwarves.

Your Dwarf Army report

At the bottom-right of the wallet, there is a dwarf icon (second from right). A Green indication shows that dwarves are mature and working. For any other color please hover the mouse pointer on the icon for additional info.

Status icon

Before creating dwarves hive miner must check the Global Index (GI). If Global Index is below 100 it means dwarves are expected to be profitable. And if Global Index is above 100, it means dwarves are not expected to be profitable. To see dwarves population graph check “Show population graph”.Note: It is not recommended to purchase dwarves when Global Index is at or above 100.

Global Dwarf Army

For example:
Global Index = 105.28. If you invest 105.28 RNG, the probability of ROI (Return on Investment) is 100 RNG and you will lose 5.28 RNG.
Global Index = 90. If you invest 90 RNG, the probability of ROI is 100 RNG and you may gain 10 RNG.

The mining probability also depends on some other factors, e.g. system speed, performance and stability of internet connection, how many dwarves are online or offline from other hive miners.

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