Please make sure the pool is not already in the BCN mining pools list. Bytecoin is the first CryptoNote-based currency, which has reached mass adoption successfully. Bytecoin has been originally created in close cooperation with CryptoNote team. It is the first implementation of CryptoNote technology, with the release dating back to July 2012. Up to this date Bytecoin developers has been making significant contributions to the development of CryptoNote technology. After you have configured the amd.txt, we now need to create are startup batch file to run the program.

Bytecoin Pool coins

With a hash rate of about 9 MH/s it controls roughly 4% of the total hash power of the network, making it the third largest Bytecoin mining pool. As long as you don’t mind the 1% fee this makes it a good choice for maintaining decentralization while also staying with one of the larger, more popular mining pools. As you can see above, one of the attractive features of most Bytecoin mining pools is the lack of fees. Or, if you want to keep things as simple as possible with a web-based interface you could use Minergate. Bytecoin.uk is a relative newcomer, but it has rapidly gained in popularity because it also has 0% fees and a 5 BCN minimum withdrawal.

  1. As you can see above, one of the attractive features of most Bytecoin mining pools is the lack of fees.
  2. Obviously the lower the fees the better, because it means you get to keep more of your mining profits.
  3. Hard constants and magic numbers in the code deter the system’s evolution and therefore should be eliminated (or at least be cut down to the minimum).
  4. If you solo mine you might not find a block for months, but with a Bytecoin mining pool you can get a small amount of coins every day.
  5. Even if you have a single ASIC rig you still want to combine your hashing power with others, and the way to do that is through a Bytecoin mining pool.

Bitcoin Miner Defies Odds: Solves Block Alone Post-Halving & Earns 3.125 BTC Reward

We don’t know of any reliable cloud mining solutions for the cryptonote protocol yet. Bytecoin.fairhash.org is a smaller pool, probably because it has a 1% fee. It does support sever other cryptonight coins however, making it useful for switching between more profitable coins when you need to. Minergate is one of the most popular choices due to its large number of minable coins and its ease of set-up and use. Currently Minergate contributes roughly 1.3 MH/s to the Bytecoin hash power, which is roughly 3% of the total. One factor many don’t think of is the payouts offered by the pool.

GPU Mining – AMD

There is also a handy mining profit calculator that is in your dashboard. This will allow you to calculate how much BCN you are likely to earn with a given amount of hashpower. Quite possibly the next most important feature to look at is pool fees. Obviously the lower the fees the better, because it means you get to keep more of your mining profits.

In our version the sender uses the receiver’s public address and his own random data to compute a one-time key for the payment. He only needs to perform a single-formula check on each transactions to establish if it belongs to him. Until then you’ll be best served by joining a mining pool for Bytecoin.

For mining with the CPU, we have the option of using xmr-stak or xmrig. Xmr-stak only has precompiled binaries for Windows, while xmrig has them for Windows and Linux. They both have the source code, so you can compile them yourself to work with Linux if you need to. Usually 8000 or 3000 are available on most home computer networks. This article would be incomplete without mentioning cloud mining, a technology that has gained some attention in the past few years.

In order to maintain network decentralization it is really recommended that you choose a different pool. I don’t want to go into too much detail here because there are so many different payment schemes, but you’ll want to find out more about the benefits and disadvantages of each. If it’s too high you could be waiting weeks to receive any coins from your mining efforts. So, if you’re in Europe you’ll want a mining pool with servers located in Europe.

Up until recently it also used to be one of the only remaining coins that you could solo mine from home. As far as GPU mining using AMD GPU’s, we have the option of using xmr-stak, xmrig, Cast XMR or Claymore’s Cryptonote AMD miner. We tend to think of this as Monero, since it is the most popular, but Bytecoin actually was released much sooner than Monero. Bytecoin is interesting because it has an enormous total supply at 184,470,000,000 coins.

The comments in the nvidia.txt do a great job of explaining each setting, and how you could try to get more performance out of your machine. I found that at least for the CPU, the program usually generates the best possible configuration settings automatically. The comments in the cpu.txt do a great bytecoin pool job of explaining each setting, and how you could try to get more performance out of your machine. After we went through the initial setup, we should be ready to mine. One thing to do is to try and tweak the amd.txt settings that xmr-stak created for us, to get the highest possible hash rate.

It serves to  discourage  illegitimate overwriting of the blockchain by apportioning mined blocks with proof of a certain amount of computational work. While debates over the pros and cons of Proof-of-Work and Proof-of-Stake persist, mining is still a working solution to a modern technological challenge. In this https://turbo-tax.org/ article we will enumerate the different ways Bytecoin can be mined and take a look at the technological backdrop of each method. Discover the best GPUs for mining based on profitability and hashrates. The miners are the main contributors in the network’s health as they are the most rational users on the chain.