After many breaks, the Ethereum merge finally occurred. Ethereum is now successfully shifted from PoW to PoS. Yet, not everyone is convinced of the action of proof-of-stake. Some Ethereum miners could break off and form their network via a hard fork or some miners are already pushing to mine Ravencoin after ETH merge. This article is all about how to mine Ravencoin. Let’s take a look at it in more detail.
What is Ravencoin?
Ravencoin is a token that is mined on simple GPU and ASIC miners. It was forked from the Bitcoin chain in 2018. The coin offers traders a pathway to create their tokens and disseminate them to other traders. The developer’s objective was to create a token that could be mined by employing just the GPU of PCs.
Ravencoin uses the KAPOW mining algorithm
Ravencoin’s distinction from Bitcoin is mainly the consensus mechanism behind its design. The consensus mechanism is defined as how transactions concluded are added to the blockchain. Ravencoin uses the proof of work consensus mechanism. Even though it now employs the KAPOW mining algorithm, the token earlier employed X16R. With the KAPOW mining algorithm, the mining software to be employed is randomly picked.
How to mine Ravencoin?
- Download the Ravencoin wallet from Ravencoin github or Ravencoin official website. Next, install it and obtain an address to receive rewards. Make sure to back up your wallet.
- Now, choose a pool from the Pools page. The important thing to remember here is that mining rewards should average over time. Please consider pointing your miner(s) at smaller pools to circulate the hashrate and enhance network health/security.
- Next, check pool sizes here. Selecting a pool near your geographic location is recommended.
- Now, download a GPU miner. Various GPU miners are available, but you can also utilize Ravencoin Community open-source miner kawpowminer (Nvidia+AMD).
- Now, extract the kawpowminer folder, there is no .bat file contained, so we’ll have to make one ourselves.
- So, create a text-file, and rename it to RVN.bat (make sure it’s not RVN.bat.txt.
- Finally, Edit the recently created .bat (right-click the file and pick edit).
- This text will be displayed: “kawpowminer -U -P stratum+tcp://<WALLET_ADDR><.WORKER><:PASSWORD>@HOSTNAME:PORT pause “
- Now, replace values in <> with yours. Worker and password are not mandatory. Remember that for AMD utilize -P rather than -U. Now, apply the hostname and port that your pool supplied you.
- Now, double-click “RVN.bat” in the kawpowminer folder. You will see a scrolling text (and your GPU(s) will discharge some heat and noise). If your configuration is right, you will notice your hashrate shown in Megahash per second (MHs). Else, any errors will show and you must reconfigure properly.
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