Miner - Expanse

Miner

Miners

Are you part of the mining workforce, using your skills and resources to help keep crypto’s infrastructure running?

Whether you’re an old pro or just getting started, Expanse has a place for you among its powerful network of miners.

GETTING STARTED

That's ok, we can help you start your journey to mine on Expanse Blockchains by introducing you some basic concepts and listing some useful links. And you can also count with our help by using our Help Center or by reaching out our community on Discord.

UNDERSTAND SOME CONCEPTS FIRST

Expanse is the name of the currency used within Expanse. It is used to pay for computation within the EVM. This is done indirectly by purchasing gas for expanse as explained in gas.

Denominations

Expanse has a metric system of denominations used as units of Expanse. Each denomination has its own unique name (some bear the family name of seminal figures playing a role in evolution of computer science and cryptoeconomics). The smallest denomination aka base unit of Expanse is called Wei. Below is a list of the named denominations and their value in Wei. Following a common (although somewhat ambiguous) pattern, Expanse also designates a unit (of 1e18 or one quintillion Wei) of the currency. Note that the currency is not called Expanse as many mistakenly think, nor is Expanse a unit.
The total supply of EXP is 11.11m+(numOfBlocksMined*8). The current number in circulation is only 1m+(numOfBlocksMined*8). 9m is currently being stored in cold storage until the EXP DAO is completed then they will be moved into a democratically controlled organization. The DAO contract can be found here. Check here

Gas is supposed to be the constant cost of network resources/utilization. Users want the real cost of sending a transaction to always be the same, so users cannot really expect Gas to be issued, currencies in general are volatile.

So instead, we issue Expanse whose value is supposed to vary, but also implement a Gas Price in terms of Expanse. If the price of Expanse goes up, the Gas Price in terms of Expanse should go down to keep the real cost of Gas the same.

Gas has multiple associated terms with it: Gas Prices, Gas Cost, Gas Limit, and Gas Fees. The principle behind Gas is to have a stable value for how much a transaction or computation costs on the Expanse network.

The word mining originates in the context of the gold analogy for crypto currencies. Gold or precious metals are scarce, so are digital tokens, and the only way to increase the total volume is through mining. This is appropriate to the extent that in Expanse too, the only mode of issuance post launch is via mining. Unlike these examples however, mining is also the way to secure the network by creating, verifying, publishing and propagating blocks in the blockchain.

Mining Expanse = Securing the Network = Verifying Computation
Start mining now Expanse, like all blockchain technologies, uses an incentive-driven model of security. Consensus is based on choosing the block with the highest total difficulty. Miners produce blocks which the others check for validity.
Come talk to us on Discord