How to Mine Pyrin: PYI Coin Details, Mining Settings and Profitability

adminMay 21, 2024

Pirin Mining

What is Pyrin PYI cryptocurrency?

As the project developers note on their website, Pyrin is a next-generation decentralized network for transactions that supports smart contracts. Its main feature is the innovative GhostDAG consensus protocol built on the widely used DAG structure, namely the Directed Acyclic Graph.

In fact, the combination of innovations leads to near-instant transaction confirmation and removal of incomplete orphan blocks. Blockchain users can enjoy high throughput and scalability, creating conditions for the popularization of digital assets in everyday life.

Pi 1 Pi 1

So, the main benefits of the Pyrin project, launched in November 2023, are:

high speed: The average transaction time is 1.2 seconds, and finality, i.e. final implementation into the blockchain, takes less than 10 seconds.
Dispersion: Network security is ensured by thousands of nodes, and the BLAKE3 hash function blocks ASIC miners, ensuring fair distribution of cryptocurrency in the early stages of the project.
Low Fees: The transaction cost is $0.000025, which makes interaction with smart contracts more comfortable.
Scalability: Blocks in the Pyrin network are created and verified in parallel, ensuring high throughput.
security: The GhostDAG consensus protocol is based on the traditional Proof-of-Work (PoW) system, which has proven to be reliable.

Pyrin PYI exchange rate and cryptocurrency token economics

The PYI cryptocurrency was launched without so-called pre-mining and investor pre-sale. Pyrin developers therefore call the release as fair as possible, and the project itself is considered “fully decentralized, open source, and community-driven.” These combinations are usually highly valuable in the cryptocurrency world.

The maximum supply of PYI is 1 billion coins. New coin issuance schedule implies a gradual decrease in release rate We use the coefficient (1/2)^(1/12) which occurs every month.

The initial emission rate is 17 PYI per block, but on May 21, 2024, the emission rate will be lowered to 14 PYI. The release curve of a cryptocurrency is as follows in the chart:

Pyrin release curve

As of May 15th, The PYI exchange rate is 4 cents.. The project’s market capitalization is $10.43 million, ranking it 3042nd in the overall CoinMarketCap platform ranking.

Pursuing Market Capitalization

The highest price of PYI was recorded on March 21, 2024 and was 28.9 cents. thus, Current speed is 85% behind record.

Although this is not the best indicator, the project is still in its early stages. Therefore, it is too early to predict a new bull market based on such data, and the behavior of PYI will be determined by the activities of users of this network.

Pyrin Best Wallet for Cryptocurrency

There are three types of wallets for interacting with PYI: web wallets, desktop wallets, and Android smartphone apps.

The web wallet is available at this link and is very simple to use. Following the link will generate a 24-word seed phrase, or it will suggest taking a combination that has already been used.

Purin Seed Phrases

After recording the seed, the site checks three random words in the combination to ensure it was recorded correctly. Then create a password for access and access the wallet interface.

purin wallet

Here’s what the PYI transfer window looks like: If you have ever traded with cryptocurrencies before, you will have no problem here.

Purin Wallet 2

Follow this link to download the desktop version. With appropriate knowledge, you can also study the source code of the application.

Purine Desktop Github

The Android app link is as follows: The wallet for iOS devices does not exist as it is not mentioned on the site.

Purin Mobile Wallet

You can also interact with PYI using the exchange. Although this method implies a lack of decentralization and dependence on the project team in question, it can still be used successfully to accumulate coins.

Where to buy and sell Pyrin cryptocurrency

PYI is supported On the MEXC platform, CoinEx, XeggeX, XT-com, TradeOgre and Nonkyc-io. Trading with cryptocurrencies is done in pairs with USDT, but on the XeggeX exchange, trading is also done in pairs with Bitcoin.

Purin Market

Pyrin Cryptocurrency Mining Profitability

Initially, Pyrin PYI mining started on the processor and then moved to the graphics card. As the developers point out, In this way, the project started down a decentralized path..

The Pyrin network uses the PyrinHash algorithm, similar to Kaspa’s KHeavyHash, where blocks are generated every second. You can track these transactions and transactions on the Blockchain Explorer page.

Purine Blockchain Explorer

Today, Pyrin PYI is one of the most profitable cryptocurrencies to mine. In this case, PYI ranks second in the list of 2CryptoCalc calculators that show the profitability of 300 Nvidia GeForce RTX 3070 graphics cards.

We strive for profitability

Note that 2CryptoCalc does not take into account the cost of electricity, the rate of which varies for each miner. Therefore, to get the full profitability, it is necessary to consider electricity costs.

Here’s more information about Pyrin network status:

I'm trying 2CryptoCalc.

I’m trying to set up PYI mining.

Preparing to mine Pyrin PUI is not difficult. Nvidia GPU owners should use the Rigel miner, while AMD GPU users should choose lolMiner.

2Miners main page

Both programs are available in this archive and the password to run them is: 2 miners — No capital letters or spaces.

The setup for mining PYI using Rigel is as follows:

rigel.exe -a pyrinhash -o stratum+tcp://pyi.2miners.com:2121 -u YOUR_WALLET_ADDRESS -w RIG_ID pause

And lolMiner’s settings are:

lolMiner.exe --algo PYRIN --pool pyi.2miners.com:2121 --user YOUR_WALLET_ADDRESS.RIG_ID pause

If you have questions, it’s usually a good idea to use our help pages.

Bitcoin wallet for mining Purin PYI

If you mine Pyrin PYI at 2Miners mining pool, you can also be rewarded with Bitcoin. This means that rewards in PYI are automatically converted to BTC and transferred to the corresponding wallet.

More details: Get Paid in Bitcoin for Altcoin Mining.

Pyrin miners can therefore not only accumulate major cryptocurrencies with the best liquidity on the market, but also use a much more convenient wallet for BTC.

To receive payouts in Bitcoin, you must specify your BTC address in your bat file instead of “YOUR_WALLET_ADDRESS”. 2Miners pool supports payments for all address types including SegWit, e.g. bc1qnkyhslv83yyp0q0suxw0uj3lg9drgqq9c0auzc), compatibility (e.g. 3GRdnTq18LyNveWa1gQJcgp8qEnzijv5vR) and legacy (e.g. 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa).