ChainX BTC Lock-up Mining Tutorial

Image for post
Image for post

Step one: Create a new lock-up address.

We strongly recommend using a new wallet (which needs not to support OP_RETURN) to create a BTC address for the lock-up mining, instead of creating a new BTC address in the wallet currently in use (we recommend one address for one wallet), because all the BTC wallets available in the market are HD wallets, which means asset transfers are highly likely to affect BTCs stored in the lock-up address and thus cause the locked amount to be unlocked.

Image for post
Image for post
Image for post
Image for post
Image for post
Image for post

Step two: Click the “Lock-up” button.

Create a ChainX wallet account if you don’t have one : https://chainx.org/

Image for post
Image for post
Image for post
Image for post

Step three: Enter the BTC Lock-up Address to Generate OP_RETURN (used to identify the lock-up transaction and ChainX address).

Image for post
Image for post

Step four: Initiate a lock-up transaction to start mining.

Open a BTC wallet that supports OP_RETURN. Currently wallets that support OP_RETURN are: MathWallet, WOOKONG, BitX, Trezor, Coinb.in.

Image for post
Image for post

Notes on the Lock-up Amount:

1. The amount of lock-up address of a single ChainX address is not limited.

ChainX is the largest Layer-2 network of Bitcoin,based on substrate technology, will evolve into the Polkadot Network as a secondary relay chain eventually.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store