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Mining Monero (Monero) can be another revolution not only financially, but also cryptomir, since developers are ready to regularly change the protocol in order not to make the extraction of a crypt solely for those who have the means to buy asik miners. Chinese manufacturers are not too sharing the optimism of the authors Monero and try to come up with something effective.
Loyal electricity consumption, consistently high rates on the stock exchanges, speed of finding blocks - in this case, the monero mining calculator says that mining is quite popular and effective even at home, so AMD and Nvidia video cards can help with this. How else can I get XMR, I study with you.
Table of Contents:
How Monero Works
Officially, Monero appeared on 25 on April 2014, and literally in 5 months it was subjected to a massive hacker attack, but the mining and its popularity did not suffer. Since the fraudsters could not get their hands on the issue of coins, and one of the key features in this matter was the specific mining. I will not discover America if I say that extraction of crypto currency gradually develops into the industrial segment, and has already fully entered the commercial rails. The same crypt is based on the CryptoNote application layer protocol, so Monero is notable for its strong protection and anonymity. In order to get XMR, use video cards, processors, proprietary applications and pools, but first things first.
Mining Monero on the video card
Just want to note that the mining on video cards can be performed on AMD and Nvidia, but the latter is a little worse, more precisely less efficient. In fact, the extraction of this crypt is no different from others - Monero is mined as a result of the generated block in a certain algorithm. The key feature is that you don't need expensive. Mining farm, which means that the Monero cost price will be much lower, and there is a high probability of getting a steady income by placing it on the stock exchange. Especially since the moment is often included in the mining, that the crypt falls directly on the exchange wallet. What do we need for mining Monero:
- Create a special wallet;
- Choose a suitable pool (or even several);
- Configure and run.
Mining at AMD
Many choose this option of extraction for the Ether, but since Monero is notable for heightened confidentiality and a good trading course, many have recently begun to rely on it. In fact, installing and launching a mining will not take more than half an hour, and payback is a matter of fact - within a month you can earn a new, improved graphics card.
The extraction algorithm is simple:
- Download and install a special miner;
- Traditionally, the program is unpacked after saving (at this stage, mining Monero may require a reboot);
- Choosing a special pool, taking into account commissions and ways of working, as a rule, both experienced and novice miners prefer nanopool;
- We enter the address of the wallet and the name of the worker in the required field.
Important point: After the hard forks of the network, it is mandatory to add the pow7 1 symbols to the claymore gpu-miner configuration.
Mining at Nvidia
Suitable for video cards and processors, but in order to get new Nvidia drivers, go to the official website. Next, to get Monero, you need to install and run a program, for example, a cuda-miner, suitable for both medium and powerful Intel processors. You can run the program through the bat-file, and if you did everything correctly, a console window and new pop-up balls will appear.
This miner is the most profitable for Nvidia, because by increasing the extraction rate, the efficiency increases by 10-15% than other developers. Plus, you can use the Minergate pool and the EWBF program, which allows you to engage in mining, not only Monero, but other crypts without conflict.
Mining Monero on a CPU
Together with Monero mining on a video card, you can choose mining on a processor, in particular, a CPU. Technologically, the process is not much different from the extraction of currency on the video card. In order to streamline the process, it is necessary to provide for:
- The presence of the processor itself, of course, that the more powerful the better;
- A purse where the mined Coins will go;
- Decide on a pool;
- Select a miner, download and install it.
When the stock wallet is installed, select the XMR in the list of supporting currencies and click on “Top up”. The next stage of Monero mining is the selection of a pool for technical and commercial characteristics. Looking ahead, after you have downloaded the file, unpack the config.txt, enter the address of the wallet and run the bat-file. Job statistics are visible in each specific pool. What kind of pool for Monero to choose, directly depends on the efficiency and profitability, evenly, when we choose cloud mining, which allows us to rely on a certain reward, for example, in bitcoin.
Monero Mine Pool
It is possible to mine Monero with the help of powerful enough computers, while still need to look for a special pool. Monero is often compared with Bitcoin, and if Bitcoin does not make sense to extract oneself, then in the case of Monero, there is still a sense, although there is more RAM to record the transaction in 8. At the same time, we simply cannot do without a pool if we mine on a video card or processor. Almost 99% of all manners are mined by Monero using such sites, and therefore, their choice should be taken as seriously as possible, taking into account:
- Number of participants;
- The principle of the distribution of awards - equally or by share;
- Size of commissions;
- Minimum stationary costs;
- Minimum amount for withdrawal;
- The average of what percentage of Monero blocks mined is accounted for by merging
You can also bet on Nicehash, as those who want to buy power, or those who want to sell them, signing a contract. And about how to register at the site, how to start working and make a profit - in the ready-made material on the GQ Blog Monitor.
Monero mining algorithm
In order to slightly “step on the heels” of Asic, the Monero developers have already stated several times that they will regularly change the extraction algorithm, there is no clear timetable, but the first fork has already been carried out. In their opinion, the CryptoNote protocol should support anonymity, decentralization, and also allow crypt to be obtained by many, and not only by owners of superpower devices. To me, it’s like trying to overcome a big conspiracy theory.
The CryptoNote algorithm for Monero, unlike SHA-256, has several advantages, for example, regular forks of the network will reduce the hypothetical pressure on the miners. Secondly, the reduction of centralization is a key trump card in the way of the advancement of all the crypts of the world, and Monero in particular. Thirdly, passive income can be provided to many market participants, and not just sharks. In fact, Monero is based on a cyclic signature protocol, so it is very convenient and practical in the anonymity setting segment. The lack of the necessary deep figure-out is a key feature of mining, and this opens up opportunities even for working on a laptop or a stationary PC.
Monero mining profitability
Speaking of mining cryptocurrency, factors such as:
- Mining equipment;
- Electricity consumption;
- Quotes exchanges.
Since XMR is quite realistic to mine even at home, and the cost of purchasing equipment is not too high, this is a plus in the positive aspects of the crypt. Secondly, profitability increases, because Monero can be listed on the stock exchange and, after playing on the course, you can buy other coins. The hashing rate is growing rapidly, and this is a good indicator. Since the XMR token is often associated with holding a pamp, some potential getters treated it extremely doubtfully, but since each new block is generated about once every 2 minutes, then the efficiency of mining per person. At the same time, many independent miners highly appreciate Monero's reliability and do not even abandon their loot when traveling in other countries.
Since the mining Monero is still more down to earth and affordable than bitcoin, and a bit similar, but simplified than Ethereum, it can be said that the currency can become available to many, and it is quite possible with successful trading on the stock exchanges and earn a million. Since the developers are planning to constantly adjust the working Monero algorithm, mining on the video cards will remain one of the main ways to get the crypt. Traditionally, you wish you only profitable mining Monero, successful work with many crypts and a successful course on the stock exchanges.