IronFish (IRON) – is a new privacy-focused crypto project focused on Layer-1 Proof-of-Work that is launching its mainnet, on April 20, 2023, and that’s when IRON coins will start being mined. The IronFish project has been in development for some time now, and during that time it has been running an incentivized test network to make sure that by launch time everything will be working properly and everyone will be ready to start mining and using IRON.
Every IronFish transaction is encrypted, hiding sensitive information about the sender, recipient, or transaction amount with accompanying zero-knowledge proofs (zk-SNARKs).
IronFish’s genesis block will include 42 million tokens, which will be distributed to insiders, foundation and community members, and to reward test network participants. Thus, keep in mind that the initial number of coins will be high even before mining begins, although there will be a 1-year lockup period for most of them, meaning that insiders will not be able to trade or transfer tokens for 12 months after the mainnet event. Mining will start at 20 IRON coins per block and a 60-second block time, with the reward per block decreasing little by little each year (not halved each year!).
Now let’s move on to mining IronFish (IRON) coins.
Thanks to the test network incentive, there are already several pools and mining software that support the Blake3-based IronFish mining algorithm, and you can try mining it with your existing GPU hardware. Currently, you will be mining coins on the test network, but pools and miners should continue mining with the launch of the main network, which will happen tomorrow.
This simply means that you can be ready in advance and start mining as soon as you start, although you will need to get the CLI (needs to be compiled) or GUI wallet (noda is not synchronized), install it, and generate a wallet address that you can use for mining (the address should continue to work on the main network, although coins mined on the test network will not be available there).
Pools in which IronFish can be mined (currently on the test network) include HeroMiners, Flexpool and Kryptex, with other pools likely to get support soon as the mainnet will be launched tomorrow.
There are currently three IRON coin miners available for GPU miners – BzMiner v14.2.0 (AMD/Nvidia), Rigel 1.4.1 (Nvidia only) and SRBMiner-MULTI v2.2.4 (AMD/Nvidia).
We suggest opting for SRBMiner-Muilti for now as it seems to be faster than the other two options, about 3x faster on the Nvidia RTX 3070 in our comparison tests at similar power consumption. Another plus point of the IronFish algorithm is that, being Blake-based, it is GPU demanding, so memory can be run at the minimum operating frequency, and GPU biasing can be used to further reduce operating voltage and lower power consumption.
In fact, if you’ve been mining KASPA (KAS), Radiant (RXD), or any of the other recent crypto coins using GPUs, you should have an idea of what GPU clock speed, offset, and memory clock speed settings to use to optimize performance and reduce power consumption (the same clock speeds should be a very good starting point).
Below is an example command line to run SRBMiner-Multi on an Nvidia RTX 3070 for IronFish mining:
Make sure you set the WALLET-ID and WORKER-ID in order for the miner to function properly and mine to your IronFish wallet!
A good idea to work with is to add Zilliqa (ZIL) dual mining in addition to IronFish mining as this will increase profits without much impact on IRON mining, you could also consider triple mining by adding a memory-intensive algorithm to the mix.
Update: Rigel 1.4.2 and BzMiner v14.2.2 updates have made them faster than SRBMiner-Multi 2.2.4, Rigel 1.4.3 currently seems to be the fastest option for Nvidia. F2Pool has added support for IronFish mining, and does not require a wallet address for mining (only when you want to receive a payout).
The official GUI wallet is currently closed as it is having problems.
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