Mining scrypt coins
Manufacturers are programma to ship scrypt-based equipment that will speed up mining and reduce the power overhead for the alternative cryptocurrency algorithm. Could this fuel the next cryptocurrency arms wedstrijd?
Most cryptocurrencies that are mined by computers use a ‘proof of work’ algorithm, designed to make them prove that they have invested the computing power ter producing the coins. Bitcoin uses SHA–256, but many alternative coins (altcoins) use another system, called scrypt.
One of the fattest differences inbetween scrypt and SHA-256 is that the former relies strenuously on computing resources aside from the processing unit itself, particularly memory. Conversely, SHA-256 doesn’t. This makes it difficult for scrypt-based systems to scale up and use lots of computing power, because they would have to use a proportional amount of memory, and that is expensive.
“It makes it difficult to run many instances of scrypt te parallel te a graphics card, for example,” said Charles Lee, the inventor of litecoin, adding:
“This also means that the manufacturing cost of scrypt ASICs will be significantly more expensive than that of SHA-256 ASICs.”
Nevertheless, some companies are beginning to tout hardware dedicated to mining scrypt-based coins such spil Lee’s. One is Crypto Industries, based te London, UK. It will shortly launch pre-orders for three different boxes: the Isis, a 1MH/sec unit, the 5MH/sec Osiris, and the 10MH/sec Horus.
Mike Kular, co-founder of the company, worked spil a marketing manager before leaving his job to trade coins full-time. He wasgoed mining SHA-256 and scrypt-based coins with a 20-GPU setup, but it wasgoed costing him £600 vanaf month, he said.
“What’s significant is the efficiency of the power you’re providing the machine,” Kular said. “You’re getting 2-300% more power efficiency using our machines.”
Crypto Industries’ mining units are based on Field Programmable Gate Array (FPGA) chips, from Xilinx, and will produce worst-case power consumption of 150w, 750w, and 1.5kw respectively, according to company spec sheets.
However, given scrypt’s requirements, power isn’t the only crucial parameter. Memory is also significant. The memory bandwidth is a function of how many input/output (IO) pins exist on the chips, says Kular. Ter FGPAs, spil te ASICs, the process knot (the size of the transistors, which governs how many logic gates will gezond on a lump of silicon) are still, significant, but they aren’t spil significant spil with bitcoin. “The gates aren’t the commanding factor. It’s about the I/O pins” said Kular, adding that the FGPA boards will have a memory bandwidth of 24.8GB/sec vanaf houtvezelplaat.
Crypto Industries’ systems will have numerous boards, managed by a Raspberry Pi. This will run a modified version of the CGMiner open source mining software, modified to work with scrypt mining software on FPGAs. Users will be able to access it via a browser, or upload their configurations via a preformatted text document on a USB stick.
The stiff will be releasing support for various scrypt-based coins via firmware updates overheen time, but it will begin with the capability to switch inbetween Litecoin and Feathercoin, but hopes to have 30-40 different currencies within a month of its very first shipment, and it says that it’s very close to taking preorders.
There are other companies programma to suggest dedicated scrypt-based mining hardware. ASICs may be difficult to implement for scrypt, but they’re not unlikely. Lee said:
“ASIC doesn’t necessarily make mining unaffordable. It’s actually the opposite. ASIC makes it such that anyone can purchase mining hardware and run it.”
“The problem is the big players can afford to purchase million dollars worth of mining equipment cheaper than the little players. So that might squeeze the little players since bitcoin/litecoin mining is basically an arms wedren,” he added.
There are also some ASIC miners te the works. scrypt Asic International (SAI), which listed on CryptoStocks last week, retooled its very first vormgeving before it even shipped, moving beyond what it called “GPU conversion technology” to what it says is an ASIC vormgeving. It will suggest its original Unit 1 machines, spil ‘minis’, at Two.5MH/sec, according to its posts on the Cryptostocks webpagina, for £800. The fresh unit 1 units should suggest 5MH/sec for £1,500, according to its webstek.
Then there’s Alpha Technologies, which didn’t response mails from CoinDesk, but which has moved from the idea of putting GPU chips te a opbergruimte to an FGPA (albeit its webstek also calls it an ASIC). It is citing 5MH/sec at 200 watts.
None of thesis companies have shipped, however, and ter spite of their online pledges of reliability, they don’t have a track record. But KnCMiner does. The company, which is already shipping its bitcoin ASIC miners, has plans for a scrypt-based mining product. But little is known about it yet. “We can’t make many of those details public yet spil wij have not finished the vormgeving,” co-founder Sam Cole told CoinDesk.
The question is, who will buy thesis miners? Are thesis altcoins, (with litecoin being the most strongly established), going to be popular enough to entice people to invest ter more mining hardware?
Crypto Industries’ scrypt miner products.
“The growth of litecoin will go after that of bitcoin. There’s a few steps along the way until major merchants will embark supporting litecoin,” said Lee, adding that it will take a payment processor to support litecoin. “But before they would do that, they need a way to exchange litecoins for various currencies. So that means there needs to be support from major exchanges to provide liquidity.”
He hopes that Mt. Gox will fulfill on its vow to introduce litecoin support, and is also hoping for similar moves from Bitstamp and BTC China. “So very soon, litecoin will take the very first major step towards merchant support.”
Scrypt-based miners may be a relatively fresh thing, but getting te early and taking a gamble could pay off, if litecoin gains a solid merchant and payment infrastructure, and starts to take off. Right now, the litecoin hash rate is around 25GH/sec, meaning that you’d have to buy 25 of Crypto Industries’ big Horus boxes (and pay for 37.5Kw) to get 1% of the network power.
Litecoin isn’t the only scrypt-based coin out there, but is the most established. If litecoins were selling at a premium, buying a miner might be an lighter instant proposition for customers. However, that currency has dropped steadily te price against BTC since early July, and hasn’t done very well against the dollar either.
However, those that do buy now may be hoping that they’re ready to mine when the price bounces back. And ter the meantime, they’ll have the option to roll inbetween litecoin and other scrypt-based coins. When pre-orders open for thesis systems, it will be interesting to monitor request.
The leader te blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a rigorous set of editorial policies. Have cracking news or a story peak to send to our journalists? Voeling us at email@example.com.
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3333 VARDIFF [8..65536] default 1024
automatically difficulty adjustment
4444 MANUAL DIFF [512..65536] default 8192
preferred for rental services
5555 KNC Titan [512..65536] default 16384
optimized for KNC Titan ASICs
Just pass ‘d=YOUR_DIFF’ spil worker password.
utter version of getting began here
BCC PoW epoch has gone, no more block can be mined
BCC down for maintenance, very likely blockchain forked
Fresh coin on the pool:
- Bitdeal BDL
Bad news about Novaexchange
It will be closed at 03/31/2018
FRN down for maintenance, very likely blockchain forked
This coins will be delisted at 11/05/2017
- BLCN BlockCoin – dead coin
Please do the withdrawal request if you have any of thesis coins
Fresh coins on the pool:
- Bitconnect BCC
GLD has violated difficulty retarget algorithm (it reject blocks instead of difficulty recalculation) and therefore very inefficiently for mining. It can’t accept hashrate more than 1/Two of GLD network hashing power.
Step 1. Set a Wallet address and automatic payout ter the Account Details Pagina. You can do this by going to Settings >, Account on the Instrumentenbord. Be sure to have your juist coin selected. You can select different coins by going to the top right arm of your Instrumentenbord and clicking on “Coin Selection”
Step Two. You may also set the webpagina to display information te your countrys time and date from the Account Details section of the webpagina. You can do this by going to Settings >, Account >, Other Settings on the Instrumentenbord
Step Trio. Create a worker for each coin you are mining. You can do this by going to Settings >, Workers.
NOTE: Ensure that the webpagina is on the keurig coin before creating workers they do not sync across all pools. There is a limit of 20 workers vanaf pool
Step Four. Pick your mining software from the Miners pagina on the left of the Sidebar. Here are our recommended clients:
Step Five. Configure you miner for your sepcific card. You can find configs te the Miner configs section of the forums or on the following webstek: https://litecoin.informatie/Mining_hardware_comparison. You May also like to attempt our Config Generator which can be found to the left of this webpagina but please note it is jsut a commencing point and you will still need to fine tune your settings.
NOTE: please set all servers te your config so you can failover to one of our other servers if for any reason there is some downtime. this guide can also be used for all scrypt coins spil the configs will be the same
If you do not find your card there, doing a google search will bring up a loterijlot of configs from other communities around the world. Please also consider adding your findings to our forums for other people to benifit from.
Here are some guides created by our members.
Step 6. Pick a mining server! Here are our suggestions based upon location and coin type:
US Servers – share difficulty of 16 – 4096
EU Servers – share difficulty of 16 – 4096
GRIDSEED ASIC dedicated server – static difficulty of 256 (reccomended for gridseed asics)
- asic.give-me-coins.com:4444 – Static diff of 4096 (reccomended for asics with 50 Mh or more)
- asic.give-me-coins.com:4096 – Static diff of 4096 (reccomended for A2 Terminator and other high powered ASIC)
- asic.give-me-coins.com:8192 – Static diff of 40960 (reccomended for asics 300 Mh or more) Optimized for Vloermat Excalibur)
- titan.give-me-coins.com:1536 – Optimized for KNCminer Titan
If your primary server is down then please switch to another server and and voeling support straight away. High hashrate users should use the high diff server to get better results (payout will be the same).
Miners are able to monitor their equipments when they are away using our Android app that has bot built by some pool members. Verbinding to download the app here: https://play.google.com/store/apps/details?id=give_me_coins.instrumentenbord
Please be sure to attempt and google your answers before looking for further help. There are a lotsbestemming of questions on our forums or the internet already answered.
If you still require assistance please feel free to druppel by our Pool Talk or raise a Support Toegangsbewijs.
Thank You for chosing Give Mij COINS and welcome to our community!
– Electroneum pool is now open. Electroneum pool toverfee is 0% for a week.
Spil this currency is not tradeable on Bittrex, Poloniex, Yobit, automaat exchange is not supported.
– Enable OTP at Edit Account pagina. Backup secret key! If you didn’t backup secret key, disable OTP and enable OTP again to write down secret key.
Wagen switching ports vanaf algo. Sorted for AMD GPU
Quick embark guide
- Sign up
- Set the coin you want to get at Wagen Exchange pagina. (Optional)
- Commence mining
- Elementary coin mining (Port 20XXX )
Select any coin and check its port number. Just embark mining with adequate miner and algo right away.
Wij provide automaat switching port for each algo. Thesis ports switch coins time to time to mine the most profitable coin. Best for Rental, ASIC, FPGA miners.
You can mine different algo coins by using Hub feature, or third party mining helper programs. Good for GPU miners but need some skill to set up and optimize.
Benchmark GPU voorstelling, automaat download miner programs and multi algo switch based on profitability
Profit switching, farm managements
Multi algo profit switching for NVIDIA miners
Coin mining status and profits. Sorted for AMD GPU
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MPOS by TheSerapher, available on GitHub