For those cryptocurrency miners out there that are looking for a type of coin that is readily available for mining using GPU, then you may want to consider Grin Coin as one of the potential candidates. As far as cryptocurrencies go, Grin coin offers a range of attractive perks for those interested in mining, and with a much lower barrier to entry, there are a number of net positives to mining Grin, or, as some have put it - 'GRINning'.
Through this guide, we hope to give you a greater degree of insight into both the origins and benefits of having and mining Grin Coin, including how to get started with your own 'GRINning' operation over the course of this year.
Knowing Grin Coin - A Brief Introduction
Having been initially launched as of Jthe 15th of January 2019, Grin is another of these cryptocurrencies with a special emphasis on the need for privacy. Unsurprisingly, this has piqued the interest of many crypto miners and holders alike. Along with the previously discussed cryptocurrency - Beam - Grin is the second cryptocurrency to make use of the Harry Potter-infused scalability and security protocol known as MimbleWimble.
MimbleWimble was purpose built in order to improve the fundamental scalability of the blockchain, while also ensuring a higher level of privacy for users. One of the things that makes it so unusual is the fact that, with its white paper, which was published in July 2016, it was written in an unusual blend of French and English.
The obscurities of the author and protocol origins aside, Jedusor has managed to create a blockchain innovation which allows for MimbleWimble's transactions to take up only 10 percent of the space which another blockchain solution would have to take up far more of. It is able to assure users of this through its own innovation, known as 'Cut Through.'
One of the things that set MimbleWimble apart is the fact that users are able to obfuscate their details in their entirety where it relates to information on transactions and files sent over the network. Just how exactly it is able to provide this high level of security, as well as fast transaction speed and scalability is through its combined application of Merkle Trees and Elliptic Curve Cryptography.
The end result of these features is a protocol which is purpose-built for handling scale, rapid transaction speeds as well as higher levels of anonymity and security for their users. By extension, the MimbleWimble solution means that Grin is wholly scalable and private for its users. Some of the other features that make it useful is that it provides a far greater degree of versatility for its users. These include the fact that it makes use of a Proof of Work Consensus algorithm, meaning that Grin is able to be mineable using GPUs.
One of the other things that make Grin appealing for miners as well as the fact that its community has placed a special emphasis on ensuring that the network has ASIC resistance; and doing so by hard-coding a hard for which takes place in six month intervals so as to ensure it remains resistant to the hardware.
Mining Grin - The Tools You'll Need to get Started
Grin Coin, much like Beam, is a network that miners can participate in with both a GPU and CPU setup. It must be pointed out that, in mining Grin, it is far better suited for those with a GPU setup. If you do need to buy some graphics cards in order to better participate in the process of mining, some of the most effective for doing so would be Nvidia, but there are some AMD models that prove to be useful as well.
For Nvidia, the following models are very effective - the 1070, 1070ti, 1080, 1080ti, 2070, 2080, and 2080ti.
Meanwhile, when it comes to applying AMD, here are some of the cards that perform well - AMD 570, 580, Vegas 56 and 64 versions are better suited for the process.
Along with lining up the right kind of hardware to get started, you'll need to have your software geared up for the task as well. The hardware needs to be backed up with the right kind of drivers for the cards you're using. But while this will basically get them set up, there are additional components that you'll need to get hold of as well.
These include tools like the Afterburner from MSI - This allows you to monitor outgoing power levels and core temperature for your GPUs throughout the process of mining. For small scale miners, this can be a really big positive, as the Afterburner allows you to keep a periodic observation of how much power you're using as well as what the temperature is, allowing you to ensure highly efficient mining while making sure that you don't wear out the cards you're using for mining. Meaning you can maximize your profits while ensuring the greater longevity of your hardware.
One other component that you will need is the dedicated mining software. There are not as many options as with other cryptos out there, but this is more due to the fact that the coin is in its relative infancy compared to other coins out there. As a result, the most commonly used one kinds of mining software would be the dedicated GrinMiner.
You also have to take into consideration that this software operates on a two percent fee for the developers regardless of how much you mine in the network. Here's how to get started with GrinMiner - install the newest version that has compatibility for the kind of operating system that you're using, Grin currently offers compatibility for Linux, iOS and Windows.
Getting GRINning - Setting up Your Node and Wallet
In order to get started with mining on the network, you will need to join the network, along with getting yourself up and running on a dedicated node connected to your wallet. For the moment, Grin Coin is only available on Mac and Linux. For the moment, it is not possible for users to run a node through the use of Windows, but the network will likely be introducing Windows in the near future. For now, however, users of Windows can set up a virtual machine.
Once you have this downloaded and on your system, you will have a page that displays 'Grin Floonet' This is a dedicated testnet. In order to proceed, choose to operate your Grin on the mainnet iteration.
After you have achieved this, the node will automatically sync up to the Grin Network. Now that you have this accomplished, you will now need to set up the wallet you will be using in the process of mining.
In order to do this, you will need to open the file directory and run the dedicated file known as 'grin wallet init'. Doing so will activate your wallet and provide you with a newly created master seed. From here, you'll need to input a new password which will need to be done every time that you log in. This same password will be the one used in order to add an encryption to the master seed.
In doing this, you will now receive your dedicated master seed, you will need to make sure that it is stored as safely as possible. This is because if anyone were to gain access to it, they would be able to access your funds.
The wallet is also designed to directly connect with the node that is in operation on your machine. Now, this is something you can go ahead and change, all you will need to do is access and change the API server address to manually connect to another node. Once you are connected to your node of choice, the wallet will be up and running.
Once you have this all established, you can periodically check your balance at any time. All you need to do is run the command 'info,' this will bring you to a page that will show you your existing balance, ranging from those that are awaiting confirmation, those assets locked in another transaction, and the total amount spendable.
GRINning While Using Linux or MAC OS
This segment of the guide will be getting you engrossed in the application of the dedicated mining software from Grin provided by its development team. In order to begin, you will need to access the file marked as 'Grin-miner.toml' through the main directory screen of the software you downloaded.
Before you can accomplish this, however, you'll need to provide your specific node with the permission it needs to mine on the network.
The server that you will need to connect to is called the Stratum Server. Once you have this turned on, your node can then get started on mining.
You can also simultaneously run grin wallet's listener command while also launching it from another terminal that you're using, this allows you to finalize the process. Once you have succeeded in doing this, you can then launch the configuration file.
Here is where things become a bit more technical - you now have to edit the kind of default values that are seen in the interface known as the 'Mining Client Configuration' segment. What you will need to do is place your email address in the place of '[email protected]' within the interface. One of the ways in which you can increase the security and privacy is to add values before your email.
At this point, the stratum server will be set to a specific Grinmint address. What Grin Mint is exactly is a dedicated mining pool for Grin Coin. It is for this reason that there is a stratum server login involved. If you choose to make use of a mining pool for Grin, the address for your stratum and login details will need to be the same as the pool that you're using.
Now once you have this changed, you can now save and close it. From here, you will now need to configure the software to the authorized Proof of Work known as Cuckaroo, this allows you to make use of a GPU mining iteration for the Grin Coin Network. You can edit this by changing the configuration by adding a hash to each segment and replacing it.
From here, you will need to do this for each of the graphics cards that you have, specifically for the Nvidia cards that you use. If, however, you make use of AMD, you will need to edit the configurations for the miner plugin. You'll need to do this for each of the AMD cards you will be using for mining.
Now that you have the miner configured in order to work in close concert with the cards that you're using, you will now have your node running with the wallet connected. You can now run the mining program and get started. To do this, you need to run the Grinminer file from the installation directory. From here, you will be able to see a page that gives you information and statistics of the various cards you are using in the process of mining.