It’s been so long since we made a coin mining guide. A lots of New altcoins are being announced on Bitcoin talk every single day. But not all of them seems promising. Most projects are just of clone of another coin that have no real value or vision. In such space finding a coin with special features has become quite difficult. Even if you come across a coin with some notable features finding one with no ICO, no Premine and moreover no masternodes is something rare these days. If you are looking for one such coin then you must check this new cryptocurrency called SUQA.
SUQA cryptocurrency is just more than a month old coin. But within a short period of time its shown a lots of progress and has gained huge attention among the GPU mining community. This coin has been listed on most of the popular mining pools, CoinMarketCap and more than 4 exchanges. Moreover the amount of activity on Bitcoin Talk announcement thread seems quite overwhelming for such a new project. So what’s so special about SUQA? It features a new Proof of Work algorithm called X22i, the coin is fast, has introduced a new scheme to reward its investors and what else?
In this beginners guide we’ll see what is SUQA coin and how to mine SUQA? Here we’ll point out the main features of SUQA, its technical specifications, types of wallet, wallet setup, miners for X22i, hashrates, mining pools, calculator, mining configuration for X22i algorithm and few other information / links to get you started with this project.
SUQA: pronounced as “SOO-kah” is a new peer to peer, open source, Proof of Work cryptocurrency launched on September 26, 2018. This coin is designed for mass adoption – says the team behind it and this coin has the following features:
Even though SUQA is based on Bitcoin blockchain: it is 75 times more scalable than Bitcoin. The block time is 2 minutes and this coin is amazingly fast that is it can handle up to 533 transactions per second. Moreover SUQA blockchain allows you to make instant payments with almost no transaction fees. The maximum supply of SUQA is capped at 1.18 billion coins and this project had no premine, no presale nor an ICO. But all these aspects can be found on most crypto projects these days. So what is the unique selling point of SUQA?
SUQA coin features
The project is brand new and just like other altcoins the roadmap mostly has a mention on bounty, exchange listing and rewards giveaway. This may change as the coin progress further but what we currently found interesting is the following 2 features. This coin has a brand new algorithm called X22i which claims to be ASIC, FPGA and Quantum resistant. In addition to this SUQA has come up with an new interest system which rewards its investors and motivates people to hold SUQA. Let’s now take a look into these features.
X22i Proof of Work algorithm
Ethash, CryptoNight, Equihash and most other popular PoW GPU mineable algorithms has been largely affected by ASIC. This has given rise to several new ASIC resistant algorithms recently and one that became very popular among GPU miners is X16R. Now we have X22i.
X22i is a new, innovative, complex and most advanced Proof of Work algorithm developed by SUQA. This is one of the most power efficient hashing algorithms and mining X22i is similar to Lyra2z or PHI2. it runs cooler and doesn’t consumes much power. Also this algorithm is basically designed with both GPU and CPU miners in mind and it is highly resistant to ASIC, FPGA and QUANTUM computers.
SUQA is based on X22i which stands for 22 algorithm intelligence and it is a much longer algorithmic chain than any existing variants. The goal of this algorithm is to resist ASIC and FPGAs and it does very well by implementing multiple features over X11 PoW algorithm. The complex chain of 22 different algorithms creates a need for larger chip space and it makes manufacturing of ASIC or FPGA pretty costly. In addition to this; as a Future-Proof to resist quantum computers it also includes SWIIFTX hash function.
Developing an ASIC or FPGA for X22i algorithm is possible but it is very expensive due to its complex structure. Also the developers of SUQA have promised to hard fork twice a year just like Monero to keep powerful mining machines away and to maintain high network decentralization.
For more information about X22i we suggest you to read the algorithm whitepaper.
Time-Lock Deposits – 5% APR
One of the biggest problem with most cryptocurrency is lack of adoption. To welcome new investors and to motivate miners SUQA created a scheme to reward its users. This is not masternodes or Proof of Stake; but a similar pattern that rewards its users for holding funds. This feature is called Time-Lock Deposit which gives investors 5% APR interest from their term deposits. To further encourage early adopters the annual percentage rate is set to 25% for the first 3 months.
This is similar to term deposit provided by banks. You deposit a fixed amount, lock it in and earn interest on APR. In cryptocurrency it is similar to PoS and Masternodes except users don’t have to go through complex setup process nor need to keep their wallets open. A feature like this not only encourages investors. But also motivates exchange to list this currency as they can earn interest amount from customer deposits.
In addition to this there is one more thing that we’d like to mention and that is SUQA foundation.
There are many popular digital currencies available today but SUQA plans not to be just another cryptocurrency. The main use case of this currency is to be used in SUQA foundation. It is a decentralized, autonomous, philanthropist organization and an ecosystem for Blockchain startups, Cryptolancers and Charities.
To foster the growth of blockchain the SUQA foundation rewards users within its ecosystem and did we mention about the 10% founders fee. There are no premine or ICOs but there is a 10% dev fee taken from every mined block. It will be used to fund developers, exchange listing and bounties.
The whitepaper has more detailed information on SUQA foundation and other aspects of the coin.
SUQA technical specifications
- Coin Name: SUQA
- Ticker: SUQA
- Coin Type: Proof of Work
- PoW Algorithm: X22i
- Max Coin Supply: 1,078,740,313 + 10%dev fee (See reward structure below)
- Block Time: 2 Minutes
- Max transactions per second: 533 tx/s
- Difficulty Retarget algorithm: Dark Gravity Wave
- ICO: No
- Premine: No
- Masternode: No
- Pre-Sale: No
- Dev-Fee: 10%
- Genesis Block: 26, September 2018
Block Rewards Distribution:
|Block Height||Reward (SUQA)||Coin Supply|
|1 to 22,000||10,000||220,000,000|
|22,001 to 50,000||5,000||139,995,000|
|50,001 to 100,000||2,500||124,997,500|
|100,001 to 200,000||1,250||124,998,750|
|200,001 to 400,000||625||124,999,375|
|400,001 to 1,500,000||312.5||343,749,688|
|Founders Fee||10% will be mined in 5.78 years|
|Max Supply||1,186,614,344 SUQA|
Bitcoin Talk Announcement: https://bitcointalk.org/index.php?topic=5038269.0
Block Explorer: http://suqaexplorer.com/
SUQA Whitepaper: https://suqa.org/file/2018/10/suqa-whitepaper.pdf
X22i Whitepaper: https://suqa.org/file/2018/10/x22i-proof-of-work-algorithm.pdf
Alright! Since we covered most of the features and technical specifications of this coin, lets now setup wallet and see how to start mining.
Currently SUQA QT wallets are available for Windows, Mac and Linux. In addition to this paper wallet is ready and mobile wallets are in development. However for full control of your funds and to take advantage of the term deposit feature we suggest you to use the QT wallet.
Head to SUQA website, navigate to download section and download the appropriate wallet. Once done unzip the file and you should see SUQA-qt.exe. Just open this file, choose a blockchain location and wait for the blockchain to sync.
The wallet shouldn’t take much time to sync up. Once it is completely synchronized you are ready to use SUQA. Now this wallet similar to Bitcoin core wallet, so to know how to backup, encrypt or use this wallet we suggest you to read this core wallet beginners guide.
Every feature of this wallet is explained in that article expect term deposit. Once you have enough SUQA in your wallet you can start earning interest from it. The process is very simple. Head to deposit menu in your wallet and enter your wallet address. Then enter the amount that you’d like to deposit, choose the number of days/blocks/weeks that you’d like to lock your funds and then click earn. To know how much you can profit from this scheme you can use the Time-Lock calculator which you can find in SUQA website.
Now as your wallet is ready, head to receiving address, grab your SUQA wallet address and get ready to start mining SUQA.
How to mine SUQA? – Mining X22i Algorithm
Within your wallet there is an option called mining which turns on CPU mining. Although X22i is designed for both CPU and GPU we recommend you to mine using GPUs. Also due to high network hashrate we’ll skip solo mining. We recommend joining a mining pool.
SUQA mining pools:
SUQA is listed on a number of mining pools but on most pools there are no miners at all and you won’t generate any rewards mining there. So choose your favorite mining pool from the following list.
https://bsod.pw/ https://beepool.org/ https://icemining.ca/ https://labs.f2pool.com/ http://pools.vipool.net/ http://blockmasters.co/ http://666pool.cn/ http://yiimp.eu/ https://www.gos.cx/ https://mecrypto.club/ https://www.zpool.ca/ https://www.ahashpool.com/ https://uberkripto.club/ https://altcoinpool.club/ https://marspool.org/
Note: Take a note on number of workers and pool fees before picking a pool.
X22i algorithm is optimized for both CUDA and Open CL and the miners are also available for both AMD and NVIDIA.
From the above mining pool list bsod.pw is where more number of miners are at. If we look at the miner version then majority of users seem to be using CryptoDredge, T-Rex and zjazz miner. So it is better to choose any of these.
- CryptoDredge: The latest version is CryptoDredge 0.9.7 which you can download from this link: https://bitcointalk.org/index.php?topic=4807821.0
- T-Rex Miner: The recent release is 0.7.4 and you can find the download link in this post: https://coinguides.org/t-rex-0-7-3-t-rex-0-7-4/
- For AMD GPUs the best miner currently is zjazz AMD miner: https://github.com/zjazz/zjazz_amd_miner/releases
- In addition to this you can also use WildRig Multi which also supports X22i.
Now configuring the miner is quite simple and is similar to ccminer. If you want in depth guide then we suggest you to read this ccminer beginners guide. Here we’ll just share the sample configuration.
SUQA Mining configuration:
CryptoDredge -a x22i -o stratum+tcp://eu.bsod.pw:2460 -u SSzh3h5y53jYREMP5curgaXVAJ6owF5bMX -p c=SUQA
t-rex -a x22i -o stratum+tcp://eu.bsod.pw:2460 -u SSzh3h5y53jYREMP5curgaXVAJ6owF5bMX -p x
zjazz_amd.exe -a x22i -o stratum+tcp://mine.icemining.ca:4200 -u SSzh3h5y53jYREMP5curgaXVAJ6owF5bMX -p c=SUQA -g 2
From the above configuration all you need to change is the wallet address. Also feel free to the change the pool address. Once it is done, save it as .bat file and launch it to start mining SUQA coins. Once the mining is initiated head to the mining pool and track your earnings. Most of the mining pools which we listed above are Yiimp based and they are simple to comprehend.
X22i Hashrates, SUQA mining calculators and exchanges
Now as you’ve started mining you may wish to estimate the mining profits. For this we need to know the hashrate of your GPUs.
First of all this is a memory intensive hashing algorithm but is also sensitive to core clocks and NVIDIA performs better than AMD. The setting that we use is Memory: +300 and Core: +100. But your environment may differ so we recommend you to start from stock clock settings. Gradually overclock until you get stable mining results. For your reference we gathered some information and following are the hashrates for popular graphic cards.
RTX 2080 TI: 15.2 - 15.6 Mh/s GTX 1080 TI: 13.9 - 14.2 Mh/s GTX 1080: 9.7 - 10.0 Mh/s GTX 1070: 7.8 - 8.1 Mh/s GTX 1060 6GB: 4.7 - 5.0 Mh/s GTX 1050 TI: 2.9 - 3.1
AMD (zjazz miner)
Vega 64: 6.7 Mh/s RX 580: 4.7 Mh/s RX 570: 3.8 Mh/s
In addition to this also refer to the hashrates reported by your miner console window. Once you have that information you can use the following SUQA mining calculators to estimate your profits.
- What To Mine – https://whattomine.com/coins/277-suqa-x22i
- Shit To Mine – https://shittomine.com/calculator/coin/SUQA/
- Coin Calculators – https://www.coincalculators.io/coin.aspx?crypto=suqa-mining-calculator
- CryptoBridge: https://wallet.crypto-bridge.org/market/BRIDGE.SUQA_BRIDGE.BTC
- TradeOgre: https://tradeogre.com/exchange/BTC-SUQA
- QBTC: https://www.myqbtc.com/trade
- STEX: https://app.stex.com/en/basic-trade/pair/BTC/SUQA/60
- ESCODEX: https://wallet.escodex.com/market/ESCODEX.SUQACOIN_ESCODEX.BTC
We hope this guide has covered everything that you need to know about SUQA cryptocurrency. If there is anything that we missed in this article then please mention below. It’s now time to wrap up.
Whether you are looking to mine for profit or looking to hold a coin for long term you can try SUQA. But don’t go by our words. We kindly advise you to do a thorough research before mining or investing in SUQA coin. Go through their whitepaper, get to know the team and only proceed if you are confident about the project. We decided to make this guide just because this project is growing extremely fast and is getting a lots of attention.
At the time of writing this article the price of 1 SUQA coin is around 125 Satoshi and the volume is more than 5 BTC. This is good coin for GPU miners and since its launch the network hashrate only keeps increasing. Also just like every other cryptocurrencies; SUQA is also getting a lots of criticism and an equal amount of appreciation. Some say it is scam and some say it could be the next Ravencoin. Who knows what’s next? But from the amount of activity we can say there is some potential for this project.
What do think about SUQA? Are you mining and selling immediately or you holding it long term. Feel free to share your opinion and if you like this guide please do share it on social sites.