How To Do Litecoin LTC Mining
Advertisements Litecoin mining, is very similar to. All you need is a CPU / GPU miner tool and subscription to a mining pool. In this article we’ll show you the easiest, fastest and best method to mine Litecoin on your own. Let’s start with a brief introduction with Litecoin., the most successful Bitcoin alternative, now has a total volume equivalent to about 38 million U.S. Litecoin is essentially based on the same software as the original Bitcoin system, they only make modifications to overcome issues with Bitcoin. Litecoin has the primary aim to be faster than Bitcoin. Litecoin uses a different hash algorithm for the creation of money and the confirmation of transactions.
With Bitcoin transactions are signed every ten minutes on average, only then can one be sure payee that he has indeed received the money. Litecoin reduces this period down to about 2.5 minutes, thus making 4 times faster transactions. Since Litecoin is a digital currency, you need to install a “Litecoin Wallet” on your PC. You can download your wallet client () for Windows / Mac / Linux. Note: The client must then synchronize all previous transactions, which may take a few hours or first. Now back to Mining stuff, in early days CPU Mining was the main source to mine bitcoin / litecoins but the rise of GPU mining made CPU mining financially unwise.
HashGains present’s Best Litecoin mining pool. How to Mine Litecoin coin with HashGains. Litecoin mining. The payout criteria for Litecoin mining is 0.2 LTC.
Nowadays most mining software dropped CPU Mining support. Next big thing after CPU is GPU a.k.a. Your graphics card. GPU Mining is drastically faster and more efficient than CPU mining. Following are the instructions to CPU / GPU mining of Litecoin (LTC) with your PC.
Requirements: A PC / Laptop with a decent graphics card / power supply / cooling system. Step One: Download a miner software that supports GPU mining. We recommend you, offers a graphical user interface and is very easy to use. GUIMiner scrypt supports AMD 5750 to AMD 7970 graphics card. In this tutorial we’ll use GUIMiner Scrypt.
Step Two: Solo mining is not really possible in today’s Difficulty, so you should join a pool (). We recommend you to join Coinotron. Next you need to “My Account” to create a new worker: Register your workers and note down your credentials. Step Three: Run GUIMiner, and configure the settings as given below. • Host: coinotron.com • Port: 3334 • Username: (your worker name ) • Password: (your password for worker) • Device: Select your GPU • Extra Flag: You can leave blank • Work size: 256 • Vectors: 1 • threats: 1 Step Four: That’s it you are now mining litecoins, make sure to add your litecoin address and pay-out threshold amount in your pool account.
Hi, Where do I find this GUII miner script interface shown above? As it is your link. ((Step One: Download a miner software that supports GPU mining. We recommend you GUIMiner Scrypt, offers a graphical user interface and is very easy to use. GUIMiner scrypt supports AMD 5750 to AMD 7970 graphics card. In this tutorial we’ll use GUIMiner Scrypt)). Takes me to a download page that produces a GUIminer with less fields and automaticcally uses the CPU for mining not the GPU.
I have a couple of GPU’s. Zcash ZEC Farming Wiki. The screen shot you show above should allow me to setup more than 1 GPU, no??? It is not in the link you specified. Thanks, newbie •.
Litecoin Mining Litecoin mining is a great alternative for those who want to earn some. It is a great way for you to earn without having to buy expensive mining hardware. This is the primary reason others mine altcoins such as as opposed to the more popular. Like Bitcoin mining, Litecoin mining makes use of proof-of-work.
Basically, it works under the same principles. It requires energy and time for you to enjoy Litecoin mining profitability. What is Litecoin mining? In order to transfer litecoins from one wallet to another, transactions must be contained in a block. Litecoin miners verify these transactions. They employ proof-of-work. Miners check incoming transactions as well as previous transactions that occurred.
Once they make sure that no double-spending occurred, they create a new block. The fresh block contains new transactions and adds it to the existing blockchain, which is basically a record book of every payment that has happened within the Litecoin network. Litecoin mining forces the creation of new blocks. These are then sent to the nodes on the network.
Nodes use the miners’ efforts to continue to verify and transmit transactions. In return, they get a miners fee for every transaction verified.
It benefits both parties and keeps the Litecoin network running. Start Litecoin mining You have to get a Litecoin wallet. These digital wallets allow you to send and receive litecoins.
You can get a wallet for various operating systems. Whether you use Mac, Windows, or Linux, there’s a Litecoin wallet available for you. After your wallet loads, it will connect to the Litecoin network. Wait for it to sync. Create a new address and provide it with a name. Next, you have to download and configure your Litecoin.
This software then activates your graphics processor to mine litecoins. You can purchase dedicated hardware for mining as well. This speeds up the entire process and gives you an advantage over your conventional desktop computer components. Lastly, you have to decide if you want to mine solo or with a group.
If you wish to perform Litecoin mining with other miners, all you have to do is look for a pool. This is where your resources are combined and share all of the rewards. If you want to mine alone, you have to configure your software accordingly. Both have their own advantages and disadvantages.
Mining unaccompanied means you get all the rewards for yourself. Meanwhile, a Litecoin mining online pool can yield faster and more consistent smaller rewards. Litecoin mining lines you up for profits.
If done the right way, it can even be your main source of income. Just remember to apply all the necessary measures in order to meet success.