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What Is Iron Fish and How to Mine IRON?
05/05/2023

What Is Iron Fish and How to Mine IRON?

05/05/2023
4,4

Iron Fish is a privacy-focused blockchain that prioritizes user-friendliness and accessibility. Discover the Iron Fish crypto tokenomics, roadmap, and team.

Iron Fish (IRON) Overview

Iron Fish crypto arises as a censorship resistant blockchain that prioritizes user-friendliness and privacy by closely following the Sapling protocol. It has a censorship resistant architecture, facilitating public access while prioritizing robust privacy protections on every transaction. The project parallels the transformative impact of SSL/TLS in the '90s, which laid the groundwork for e-commerce and positively impacted a wide range of industries.

What is Iron Fish?

Iron Fish is a blockchain project that employs a decentralized blockchain, underpinned by proof of work (PoW) technology. Each Iron Fish account is equipped with a view key, granting its holder read-only access to their account details. This approach challenges previous patterns of full node usability in the market, as the Iron Fish networking layer supports WebRTC with WebSockets, allowing for straightforward P2P connections with no other setup fundamental requirements. 

Ultimately, the focus of the Iron Fish team is to lower the barrier to entry. In this manner, Iron Fish leverages the advent of proof of work technology, ensuring that anyone with a computer can feel comfortable running a full node. Iron Fish recognizes that privacy is a prerequisite for safeguarding users and promoting cryptocurrency adoption. By prioritizing user privacy and security, Iron Fish seeks to enable greater financial freedom and expand the use of cryptocurrency.

Source and Copyright © Iron Fish

Iron Fish RoadMap

The Iron Fish roadmap commences with the implementation of a proof-of-work blockchain featuring a native cryptocurrency, with future plans to incorporate supplementary assets, stablecoins, cross-chain bridges, and further Layer 2 support.These developments are vital to Iron Fish's objective of serving as a universal privacy layer across all chains, addressing a critical gap in the web3 ecosystem. 

Iron Fish Tokenomics

Iron Fish project has 256,970,400 tokens as its terminal supply, with an initial supply of 42 million tokens from the genesis block. The emissions curve dictates the total supply changes over time, and after the first year, the total number of new coins created due to mining rewards is 10.5 million coins. The circulating supply is the number of coins available for transfer, and in the first few years, the majority of the token supply will reach miners and community members.

Source and Copyright © Iron Fish

Initially, the inflation rate is aggressive but tapers off quickly, allowing most of the token supply to reach the community faster. The genesis block allocation is divided among several categories, with the Iron Fish Foundation receiving 18% to support community growth and open-source development. Testnet participants will receive 2.25% of the tokens; another 2.25% will be held for future community incentivization and engagement. Series Preseed investors receive 5.1%, Series Seed investors receive 9.9%, and Series A investors receive 14.5%. Advisors are allocated 0.6%, the core team acquires 37.4%, and IF Labs is given 5% to attract top developers to the project, whereas 5% of tokens will be held for future endowment to ensure continued Foundation operation.

Source and Copyright © CoinGecko

Iron Fish Team

Iron Fish was founded in 2018 by Elena Nadolinski, a former engineer with extensive experience at Microsoft, Tilt, and Airbnb. Jenah C Bielza, MBA, leads HR and Recruiting, ensuring that the team is constantly growing with the best talent. Kelly Sopher is the Chief of Staff and Chaos Wrangler, keeping the team organized and focused on their goals. Meghan Blanchette is the MarComm and People Ops Professional, responsible for managing communications and employee engagement. Yajun Gao is focused on building a privacy layer for Web3, while Evan Richard is a Blockchain Leader and Engineering Consultant. Jason Spafford is the Principal Engineer and Skylar Richard is the Senior Product Designer, ensuring that Iron Fish's products are intuitive and user-friendly.

How to Mine Iron Fish

Overall, mining Iron Fish involves creating a block consisting of a block header and a block body, adjusting the difficulty and target, and including the miner reward. The Iron Fish blockchain algorithm dynamically adjusts the mining difficulty to achieve an average block time of 60 seconds by increasing or decreasing the mining difficulty. 

Disclamer. Before taking any action concerning cryptocurrency mining, study the laws of your country and follow them.

Obtain suitable hardware

Iron Fish can be efficiently mined with GPUs. Visit f2pool's Miners page to discover the most profitable machines for IRON mining.

Source and Copyright © f2pool

Obtain a wallet address

You will need to obtain an IRON wallet address if you do not have one already, as it is essential for receiving your mining rewards. You can use the Iron Fish wallet app if you have experience working with code. Payouts will resume once the network stabilizes.

Source and Copyright © Iron Fish

Sign up for an f2pool account

Create an f2pool account before mining Iron Fish. If you do not have one yet, please register.

Source and Copyright © f2pool

Configure mining software

IRONMiner, BzMiner, and SRBMiner are some of the popular options for mining Iron Fish. Follow the instructions provided for each mining software to configure them properly.

Start mining

You can manage your account settings and monitor your hashrate, rewards, and more in your dashboard or in the f2pool app.

Source and Copyright © f2pool

Frequently Asked Questions

What is the all-time high of Iron?

On April 25, 2023, the all-time high for Iron Fish (IRON) was recorded at a price of $17.00.

What is the market cap of Iron Fish (IRON)?

Currently, the total market cap of Iron Fish (IRON) is infinite, and no limit has been established so far.

Where can you buy Iron Fish?

For those interested to buy Iron Fish at its current rate, several leading cryptocurrency exchanges offer trading in Iron Fish stock, including KuCoin, BitMart BingX, SafeTrade, and Gate.io.

What other assets are similar to Iron?

Considering similar assets to Iron Fish, Coinbase lists EscoinToken, Catverse, FLARE, Arbitrum and ZkSVM.

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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

KuCoin


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