How to use GasToken Miner

Save Fees With GasToken
Today we have a look at how you can save fees with GasToken, a future feature for our exchange. And we teach you how you can mine GST tokens today!

Table Of Contents

  1. What is GasToken-miner?
  2. Requirements
  3. Installing Nodejs & Python
  4. How to use gastoken-miner?
  5. Optimal Miner Configuration?

1. What is GasToken Miner?

We have developed a miner that you can use to mine GST1 or GST2 tokens on Ethereum or Ethereum Classic. Unlike mining "traditional" coins or tokens, mining GasTokens does not require any intensive CPU or GPU use from your machine, so you can safely run this on any device. Essentially you are buying up gas today, at whatever the price of gas is today, and storing it for later use. At a later date, if blockchain's gas price becomes higher (i.e. cryptokitties event), smart contract users may use gastokens to pay for up to 50% of gas costs (so if you're making a transaction that costs 300k gas you can pay 150k with ETH/ETC, depending on blockchain, and 150k with gastokens).

2. Requirements

  1. Our miner works on Linux, macOS or Windows 10 however it is much easier to set up in a Ubuntu environment. Therefore, If you are on Windows 10, I recommend setting up a Ubuntu WSL from the Windows Store as it will probably save you some time tinkering with PATH variables to get Python to work correctly.
  2. You need to install node.js & python 2.7.X, I have outlined how to do this below, but if you already have these tools set up then you can go straight to section 4.
  3. Our GasToken Miner is entirely command line based, which means you need to have access to a terminal:
    • If you are on Linux or macOS then probably this is nothing new for you.
    • For Windows users your default terminal is called “Windows Powershell” you can search for it in
    your start menu.
    • Altenatively, I highly recommend using Hyper as it supports any OS and looks and feels much nicer.
  4. You need a wallet with some ETH or ETC in it, depending on which type of GasTokens you would like to mine as you will need to submit transactions to the approriate blockchain(Ethereum or Ethereum Classic).
  5. Please note the guide below assumes you are in a Ubuntu environment. If you have just set up your Ubuntu session, please remember to do sudo apt-get update & sudo apt-get upgrade before starting with the rest of the guide.

3. Installing Nodejs & Python On Ubuntu

  1. First you want to install some build essential tools that are needed (such as g++) to do this you want to type the following command into your terminal:
    sudo apt-get install build-essential
  2. Once that is done you need to install the correct version of Node.js which we need for our miner:
curl -sL | sudo -E bash -

sudo apt-get install -y nodejs
  1. Once that is done check that the following commands:
npm -v
npx -v
python --version
All return values in your terminal that will look something like this:


If everything is installed correctly, then you go can move onto the next section!

4. How to use GasToken Miner?

We will now look at how our GasToken miner works! Remember, you need to have an Ethereum or Ethereum Classic wallet with some ETH or ETC in it as you will be submitting transactions. Also note the miner requires you to enter in your seed phrase or private key to submit transactions on your behalf, so you may want to set up a wallet solely for mining GST tokens.

  1. First check that you have correctly installed everything to user gastoken-miner by using the following command: npx -q gastoken-miner -h which should return the following, please note it may take a minute or so:


  1. So for example if we would like to mine GST1 tokens on Ethereum Classic you would type the following:
    npx -q gastoken-miner -m "Enter In Your 12 Word Seed Phrase For Your Wallet" -a 50 -c ETC -t GST1 -b 20
    It may take a few minutes to get started but then you will see:


Congratulations! Once everything has confirmed you should find your newly minted GST1 in your wallet.

5. Optimal Miner Configuration?

Well the quick answer is we really do not know yet, it would be great if you can start sharing your settings and discussing it on our. Here are some tips which may help you discover better settings:

  • GST tokens have 2 decimals, therefore the amount parameter -a takes this into account. For example -a 80 would result in 0.8 GST1 per transaction. This will require some experimenting to find out what is possible.
  • The batch parameter is how many mining transactions you will be sending to the chain to be confirmed, note that the miner waits for all the transactions to be confirmed before starting another batch. For example, -b 50 means you will send 50 mining transactions and then wait for them to be confirmed.
  • If you are going to try sending hundreds of mining transactions at a time, then most likely you will need a private node to use. So note the -n parameter you can use to set your own rpcnode endpoint.

Happy minting!

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