Ravencoin Starting Guide - How to mine Ravencoin ?
We are pleased to announce that our Ravencoin mining is finally open ! Thanks to this Starting Guide, you will learn how to mine RVN on Cruxpool !
What is Ravencoin
Ravencoin is an open-source project which has been built on a fork of the Bitcoin code. This cryptocurrency has specialized in asset transfer. So, this cryptocurrency uses the UTXO system from Bitcoin. In this model, which means Unspent Transaction Output, each transaction has its origin an output of an old transaction and generates new outputs. It also uses a Proof-of-Work system and the Kawpow algorithm.
Like Bitcoin, Ravencoin cryptocurrency has a limited number of coins which is 21 000 000 coins. The project can be glad to have launched their project without premine or ICO.
For more information about the project, you can read the white-paper.
Open a Ravencoin wallet
Download RVN wallet
Create your wallet
After downloading and installing the software. Launch it and Generate a recovery phrase and enter a recovery passphrase. This has to be kept in a safe place to prevent any securities issues. Once you made it, your wallet must be synchronised with the Raven network. After that, you can send, receive and use your wallet.
Create a reception address
To receive Ravencoin transactions, you have to click on Receive. First, you may need to fill the form. You have three inputs to fill, a label, the amount you want and a simple message. This form is optional, but it can be useful when you ask a transaction or if you’re going to remind yourself what address is for what. For your mining activity, we suggest you write Cruxpool in the label section. Thanks to that, you will know that this address is for your Cruxpool mining. After that, click on Ask a payment, and the software will generate a wallet address. You can copy this wallet address thanks to a click to copy button or with the Q.R code. You will see your address in the table on the Receive section or click on Folder, then Receiving address.
How to mine Ravencoin ?
Before we give you the instruction to connect on our pool, it is essential to share with us basic knowledge about mining Ravencoin.
To secure the network, RVN uses Proof-of-Work system, and it is, of course, miners who supported the blockchain. The Raven cryptocurrency uses a Kawpow mining algorithm and it is mining is ASIC-resistant.
You will be able to mine this cryptocurrency only if you have a minimum 3Gb VRAM graphic card.
GPU hashrates with RVN
As a result of the ASIC-resistant current regulations on the network, RVN mining uses graphic cards. Hashrates are expressed in Mh/s. Here is an estimation of hashrate you can have with different graphic cards.
Cruxpool and Ravencoin
Cruxpool provides a Ravencoin mining pool. We use a 1% PPS+ – PayPerShare+ scheme, and transactions run every 3 hours. The minimum threshold is 50 RVN and the maximum is 10.000, but by default, we have set the threshold to 50 RVN.
Start mining RVN on Cruxpool
To connect your workers on our Ravencoin mining pool, you have to put your address on your mining software.
There are several mining softwares for RVN mining. Here is a list of softwares that you can use for mining this cryptocurrency.
Kawpowminer is recommended for NVIDIA cards because the software entirely used the CUDA technology to mine RVN. As for TeamRedMiner, it is exclusive and optimized for AMD cards. Finally, Gminer is a complete software because it is useable with AMD and NVIDIA graphic cards.
After that, save the file and launch it. Your mining on Cruxpool will be starting.
Start mining Ravencoin with NiceHash
To add our Ravencoin pool on Nicehash, you have to fill the following fields in the Add new pool display.
Custom pool name : Cruxpool RVN
Algorithm : KAWPOW
Stratum Hostname or IP : rvn.cruxpool.com
Port : 29999
Username : Your wallet address
Password : x