This is number 12 of the mining articles for beginners and hobby miners, if you're interested at having a go at mining some other coins then check out the rest of my blog here.
Before I begin there are a couple of things to remember; Firstly unless you have an extensive mining setup you're unlikely to get rich (or break even) and Secondly I take no responsibility for any issues you run into if you try this at home (be smart download mining software at your own risk).
This is for informational and fun purposes only; I don't claim to be an expert. If you're reading this and you are more experienced and spot any issues, by all means point it out in the comments and I'll try make the necessary updates.
Back when I first started writing these articles I began with Ravencoin and due to recent developments on this blockchain I'm delighted to get back around to it. Ravencoin, was designed as a fork from Bitcoin with the particular focus of being:
a peer-to-peer blockchain, handling the efficient creation and transfer of assets from one party to another.
In addition to the considerable developments made by the development team, there has also been a continuous push at a community level to maintain mining equilibrium with this blockchain and move away, where reasonably possible from centralization by use of ASIC mining. As a hobby miner this is music to my ears because it mean that the goal is to try and keep the coin minable by GPUs. Previously there was a fork in the chain that attempted push back the advance of ASICs by moving from x16r to x16rv2, however, after a few months it was clear that this move didn't go far enough as mining hashrate and difficulty began its upward march. However, it isn't all doom and gloom because the team went away and have (as of 06May2020) successfully forked the chain and implemented a Ravencoin specific variable of the ProgPoW algorithm named KAWPOW. In this article we'll revisit the guide for mining RVN and provide an update to help you get up and running with the new algorithm.
Step 1: The Wallet
Personally, I prefer mining RVN directly to the desktop wallet. It provides a little more security then having it mined elsewhere and is really easy to set up. That said if you want you can use Trust Wallet, Atomic Wallet or a few others, just check the website for details: https://ravencoin.org/wallet/
- 1 - Head over to https://ravencoin.org/ and click 'Get Wallet'
- 2 - Select the relevant wallet for your OS and follow the setup instructions
- 3 - It will take a little time to catch up on the blockchain so head on to the next step.
NOTE: If you already have the desktop wallet but haven't upgraded yet you must get the 4.1+ version otherwise you'll be operating your wallet on an old chain. Additionally, if you have set up a Raspberry Pi using my node guide, I've updated this so you should be able to run the node setup script to upgrade.
Step 2: The Mining Software
While the block chain catches up we can get cracking on installation of the mining software. We're going to use NBMiner as it is designed for both AMD and NVidia cards, though there are others out there (i.e. T-Rex, Z-enemy and TT-Miner to name a few).
- 1 - Head over to https://github.com/NebuTech/NBMiner/releases and get the latest release for your relevant OS (windows here)
- 2 - Download and un-zip the file into a secure location. Note that you may need to check your virus protection software exceptions as often miners are considered to be malicious. If when you extract the content you don't see the file below then you may want to try again.
Step 3: The Pools
- Fee: 0.0% PPLNS (default, changing to 0.5% soon)
- Min Payout: 5 RVN (every 3 hours)
There is no registration so in making this selection our setup is done for this step.
Step 4: Mining
Out final stage now is to put all the puzzle pieces together and start mining.
- 1 - Head over to your mining software folder and scroll down to find "start_rvn.bat" right click this file and select edit
- 2 - Now we can copy the mining address from the RavenMiner site and paste it into the .bat file
- 3 - Then open up your Ravencoin wallet and locate your addresses "File>Receiving Addresses"
- 4 - Click on new at the bottom of the page to add a new address to your address book, then click copy to add it to the clipboard
- 5 - Finally replace the default wallet address in the .bat file with your address save and close.
With this all done now e just need to double click "start_rvn.bat" and we're away!
Congratulations you're mining RVN!!
Now that you are mining you can check your stats (when you've submitted a share or two), on RavenMiner's site by navigating there on your favorite browser (#BRAVE) and just have your address to hand and you can paste it into the bar in the middle of the main page and hit enter. Or add your address to the end of https://www.ravenminer.com/?address=<YourAddress>. You'll see all your stats on the next page.
Hope you enjoyed the guide, good luck y'all!
Donations Welcome (RVN): RX3DageouRRct7AkhAXDRfqjN4hZZVx9dZ