Its the start of October 2022 and mining profitability is in the gutter. If you are GPU mining and you have the average electricity rate of $0.12 / KWH then you are certainly mining at a loss. If you have an ASIC miner you might be making a slight profit or just breaking even. So during these times its important to mine currencies you believe have a bright future, or for a cause you believe in. One cause that might be worth switching your hardware over to is Banano Miner.
What is Banano Miner:
Banano Miner uses your computer to run protein fold simulations using Folding@Home to help scientists around the world fight diseases such as Alzheimers, Cancer and Parkinsons. If you start running these simulations at home you can even pick which disease you want your hardware to run simulations for. They have been around for 53 months and even have a NFT marketplace. They have minted over 300,000 banano themed NFTs and distributed them all for free. Banano allows users to run simulations through Folding@Home and give users a rewards.
What is Folding@Home:
You might of heard about Folding@Home when Covid started to spread. They developed their software to run these simulations and actively ran simulations using consumers hardware to help prevent the spread of Covid19. The project started in the early 2000's and since has reached over 100 PetaFLOPs and had many scientific breakthroughs.
I have not started mining this coin myself, but I did see a post from Maxx3141 on Reddit detailing the profits earned. Max was earning about $0.21 per day on a 5700xt mining crypto and found this project. Mining Banano actually increased the profit per day tp $0.54 or 111.01 BAN. This means mining BAN would make you 157% more profit when compared to most likely ETC. You would also be putting your hardware to good use, as you are supporting scientific research. It is also important to note that while you can have multiple rigs earning BAN, you will see diminishing returns.
Before you start mining BAN, you must create a wallet. This can be done through Kalium in the app store or Google play store. You can also create a wallet through your web browser by visiting vault.banano.cc.
How Do I Earn BAN:
Once you have a wallet address created you will download the Folding@Home client and input your User ID and Team ID. After doing this you can run folds while being rewarded BAN. It is important to note you can either install the client or even run it through a web browser.
Is BAN A Crypto Currency:
In short it is not a crypto currency. BAN is not on a blockchain, but rather a directed acyclic graph. This is a graph theory in mathematics and computer science. It is a conceptual representation of a series of activities, where the activities are depicted by the graph.
What Hardware Can Earn BAN:
The good news is there isn't a DAG size for BAN. This means any GPU can help with the simulation and in turn earn rewards. This also means that even your CPU can be used to earn BAN!