A Precise Guide On Dogecoin Mining - Sourajit Saha

Saturday, 16 December 2017

A Precise Guide On Dogecoin Mining

First off, what is Dogecoin? For those who do not know, dogecoin is an altcoin. It's a digital currency (cryptocurrency) that was created to be an alternative for other cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Dogecoin can be used to buy goods and services, and you can also exchange or trade it for other currencies.

The creation of the Dogecoin logo was based on a Japanese dog known as the Shiba Inu, hence the name dogecoin. The dog's picture had been a popular online meme, so the creator, Billy Markus, actually created the coin as a joke which then turned into reality when a member of Adobe's Systems marketing department, Jackson Palmer, bought the website and started working with Markus.
A Precise Guide On Dogecoin Mining

Now that you have a little bit of insight on the history of Dogecoin, let's get to why we are here today -the mining of Dogecoin. Although the dogecoin industry isn't as large as the Bitcoin industry, the mining of the cryptocurrency happens almost the same way the Bitcoin is mined -through the use of specialized hardware. Mining dogecoin verifies transactions, secures the network and allows miners to be paid a token of the cryptocurrency as a reward of their hard work and dedication to the system.

There are three ways to mine Dogecoin. The mining can be done through the use of graphic cards, specialized hardware, and mining pools. Given the fact that the Dogecoin industry is not as developed like the BTC industry, it took some time before Dogecoin miners were created. The creation of Dogecoin was based on a Scrypt network which made it impossible for ASIC miners to mine dogecoin until 2014 when miners that could mine on Scrypt were created. While graphic cards are the good ways to mine Dogecoin, they are not very profitable.

THE DIFFERENT DOGECOIN MINING PROCESSES

The first step you need to take if you are going to be mining dogecoin is going to dogecoin.com to open yourself a wallet. You'll need to download the dogecoin wallet client which allows you to store your crypto coins on your computer. Once you have successfully done this, the next step is to download the Dogecoin blockchain. Once you have successfully downloaded the full blockchain, you'll now have to decide whether you want to join a mining pool or you want to go solo by using your CPU or your GPU. Let's take a look at the different mining processes.

MINING POOL

A lot of people prefer to join a mining pool for Dogecoin and a lot of other cryptocurrencies. This is because when a mathematical problem is solved and the payout is about to be made, the payout is usually for the miner who's lucky enough to solve the problem. This simply means that if you are not using a couple of extremely fast machines, the odds of getting the reward will be very low; in fact, you might never get paid at all as the mathematical problems are now harder to solve.

This is why a lot of people prefer to join a mining pool. A mining pool allows users to combine their computing power and when they successfully solve a mathematical problem, they share the reward amongst those in the group. The reward is usually split according to the amount of computing power each miner has been contributing. Joining a mining pool allows for a better chance of getting paid.

There are a lot of mining pools you can join. Once you have decided on the mining pool to join, you'll then decide on whether you want to make use of a GPU or a CPU Miner. This guide will be based on joining mining pool.

USING A GPU MINER

GPU miners are a lot more effective than CPU Miners. But for you to enjoy the efficiency of GPU Miners, you need to ensure that your graphic cards are discrete. In fact, it's better to make use of AMD cards as they are more efficient than NVidia cards.

In order to mine with the GPU of your computer, the first step you'll need to take is to download a software known as CGMiner. When downloading the software, ensure that the one you are downloading is the latest version as the older versions have stopped supporting the Scrypt network. In fact, make sure the software you want to download is anything from the version 3.7.2 upwards. Anything below that won't work for the mining of Dogecoin. You can also download GUIMiner as an alternative to CGMiner. While CGMiner works with the command prompt on Windows, GUIMiner uses a graphical interface. Also ensure that you disable Google Chrome's malware protection because the app usually notes these software as malware.

The next step now is to ensure that all of your graphic card drivers are up to date. If you're having an ATI graphics card, you can download OpenCL driver. You don't necessarily need to install the CGMiner software. You can just unload the zip file and place the extracted content in a location on your hard drive. CGMiner works through the command line, but you can also execute it using a batch file.

Simply put, a batch file is a saved command prompt script. You can even write it in a notepad. For your batch file to be complete, you'll need to get some information from your mining pool, and these information include:

· The Pool Service URL- This URL will be specifically for mining. It's not the one you usually input into your browser. Most mining URL starts with the word "Stratum" and most mining pools readily provide this information.

·  Port Number- Port number from your pool service.

·  Your Username – The user you created when you were signing up with the mining pool.

·  Worker Name and Worker Password- Before you are allowed to mine in a pool, you'll have to be a "worker" in the mining pool. You can either pick the name yourself or it can be assigned to you by the pool. You’ll also have a worker password for your worker profile.

Once you have all of these information ready, the next step is to go to the folder where you have the CGMiner.exe file. Once you've located the miner, right click anywhere and create a new .txt (text) file. This will open your notepad, then you can type in the following:

Cgminer.exe -scrypt -o url:port -u username.workname -p workerpassword

The bold words will be the info you have collected from your mining service. Once you have done this, click on save and change the name of this newly created text file to GPUMiner.bat. Click yes when Windows asks you for confirmation. Once it has been saved, double click on the new .bat file and CGMiner will automatically take it from up from there, displaying how much progress you have made with your mining process.

CPU MINING

If you don't have enough cash to buy good graphic cards, you can still make use of your CPU though the mining process won't be as fast and feasible as when you make use of a GPU miner. The setup of a CPU miner is basically the same as that of a GPU miner. You'll be needing the same information and you'll be creating a batch file. The major difference between both processes is that in CPU mining, you'll be using a software called CPUMiner. Once you've followed the GPU mining process to the script phase, you'll input the following:

minerd.exe -o url:port -u username.workername -p workerpassword

Click on save like the directions in the GPU process and continue following the directions till the end. Once you double click on the saved file, the CPUMiner will start mining your Dogecoin and also display how much progress you have made.

CONCLUSION


That's all there is to mining dogecoin. You can choose to go solo instead of joining a pool, but going solo is bound to yield little or no profit if you are not running a couple of well enhanced GPU miners. Remember to enter your wallet address into the mining pool's website so as to be able to manage your earnings.

0 comments:

Post a Comment

Sourajit_Saha
Hi, I’m Sourajit Saha, An Online Marketer From Kolkata, India. I Have Been Blogging Since Last Quarter Of 2010. I Started Blogging As A Hobby, And Soon It Turned Into Passion And Later Profession. Click Here To Know More About Me!

I'M ON SOCIAL MEDIA

  • Get All Updates

    LIKE FACEBOOK PAGE

    INSTAGRAM FEEDS

    FEEDS FROM TWITTER