This differs from time to time and from user to user, so let’s discuss.
How the Mining Algorithm Works
Richard Els has mentioned in a Q&A Session on Facebook that their emission algorithm (the formula that works out how much coins you mine) is not being released to the public.
However, we can observe how much ETN it pays out to various devices and try to back-calculate how it works.
Here’s what we currently know:
- The mobile miner continually benchmarks your phone, determines how much available processing power it has at the moment, and assigns it with a certain hash rate (mining speed) in hashes per second (H/s).
- The app communicates with the ETN servers on a regular basis and communicates the hashing power. Your pending balance is then credited with coins based on this rate.
- Generally speaking, newer and faster devices will have a higher hash rate and will mine faster.
- Generally speaking, your hash rate decreases when you have more apps running (more apps take up more processing power and thus decrease the available processing power).
Now that we know how it works, how much can you expect to mine?
How Much Can You Expect to Mine?
In the same Facebook Q&A mentioned above, Richard Ells mentioned that they will adapt the algorithm to allow the average user to mine about $3 worth of ETN per month.
So this statement reveals that the amount of ETN you mine will be dependent on 2 things:
1. Your hash rate
That is, how fast your phone can mine relative to the average user’s phone. If your hash rate is greater than around 30 H/s, you should earn slightly more than $3 worth of ETN per month.
In a recent app update (6 April 2018), the team has now prioritized slower phones, since that is most likely the type of phone their target market will have. All phones now have a hash rate of at least 30 H/s, and strong phones show an increased hash rate up to 50 H/s.
2. The market price of ETN
Keep in mind that if the price of ETN increases, it takes fewer ETN to make up $3. So an increase in price will mean that you’ll earn fewer ETN per month (although the value you receive won’t change), and a decrease in price will mean you earn more ETN per month.
How Much ETN for Every 1 H/s?
Based on observations made on two phones in my house that are mining, I’ve tried to calculate how much you can expect to mine for every 1 H/s.
As of 30 March 2018, these calculations have shown that:
- For every 1 H/s, my phones mine 0.0133 ETN per hour
- For every 1 H/s, my phones mine 0.32 ETN per day
Keep in mind that these are average figures, so yours might be slightly more or slightly less. Also, keep in mind that these figures change from time to time as the team tweaks the algorithm. My figures above might not be relevant in a month’s time.
Why the Algorithm Keeps Changing
The team is constantly learning from data generated by the app, and they’re refining the profile of the average mining miner – which phones they use, how many hours their phones mine per day, etc.
Every once in a while they tweak the mining algorithm somewhat to emit coins at an optimal rate that would be best suited for mass adoption. They need to find the balance between giving out too much ETN or too little ETN, and make sure their emission rate fuels mass adoption.
Giving out Electroneum too slow means that users will see it as worthless and lose interest. Giving out too much Electroneum will see a big amount of ETN being paid out to early adopters and nothing left for the masses later on.
These are the factors that come into play in designing the emission algorithm.
What can You do to Mine More ETN?
If you want to mine more ETN than you do currently, you can either:
How Much Are You Mining?
Please share your mining observations in the comments below. What’s your hash rate and your phone? How much ETN are you mining per day?