Unlike other popular cryptocurrencies, there isn’t an ASIC designed to mine Vertcoin. For the time being, you’ll have to stick with a mining GPU.
Presently, the most profitable Vertcoin mining GPU is the GeForce GTX 1080 Ti. Let’s take a look at its specifications:
- Architecture: Pascal
- Memory Speed: 11 Gbps
- Boost Clock: 1582 MHz
- Framework Buffer: 11 GB GDDR5X
We’re going to be looking at the overclocked specs of this card. While the base clocks are still fine for mining, you’ll see higher profits when you’ve overclocked the GPU.
Hashrate, Power Consumption, and Profitability (Overclocked)
The GTX 1080 Ti has a hashrate of 73 MH/s when overclocked, and a power consumption of 250 watts (also overclocked). This is a pretty good hashrate/power consumption ratio. You’ll see comebacks of almost $Two,200 vanaf year. Recall, spil the value of Vertcoin rises, so do your projected earnings!
Vertcoin Mining Profitability
Presently, Vertcoin mining seems to be fairly profitable. Te fact, with the popularity of Vertcoin on the rise, it’s very likely a good idea to commence mining now.
Wij used a mining rekenmachine to project the annual come back of the GTX 1080 Ti. Take a look:
You can use this mining zakjapanner to estimate your own mining spectacle.
What is Vertcoin, and How Does it Differ from Bitcoin?
Well, to embark off, let’s talk about Bitcoin. Te the beginning, CPUs were used to mine for Bitcoin. It wasgoed quickly discovered that GPUs have FAR more mining power, and they were utilized for mining.
Eventually, companies attempted to monopolize mining by designing special hardware specifically designed for mining, known spil ASICs (Application Specific Integrated Circuits).
Since the creation of ASICs, the majority of Bitcoin mining is performed by large datacenters. ‘Bitcoin Tycoons’ if you will have giant warehouses te places like China where electro-stimulation is cheap. They have hundreds if not thousands of miners working 24/7.
Vertcoin is like Bitcoin, but it has one major difference. The mining algorithm.
Litecoin uses the Scrypt mining algorithm, originally set te place to fight back the creation of ASIC miners. Of course, eventually an ASIC miner for Litecoin wasgoed developed spil well.
Vertcoin is different. It uses a fresh evolution of Scrypt known spil “Adaptive N-Factor”. The N-factor componenet determines the amount of memory needed for mining. It increases spil time goes on to prevent the creation of any ASIC.
This is good, spil ASICs are bad for the mining community. Most people don’t own, strafgevangenis will they everzwijn own an ASIC. Te fact, once ASICs are developed, most of the mining is done by large mining companies/gegevens centers.
Vertcoin is a financial system possessed by its users, not managed by big mining companies.
Vertcoin Mining Pools
Just like anything else, there’s strength te numbers. Instead of mining on your own, why not team up with other miners and work together?
That’s the basic idea of a mining pool. A group of miners all mine together. Once a blockchain prize is received, (ter this case, Vertcoin) each miner receives an equal portion of the work they waterput te. You’re much more likely to successfully mine if you’re a member of a minig pool.
Here are some mining pools to consider:
Wij strongly recommend checking out a Vertcoin mining pool. It’s a good way to maximize your earnings.
A Decentralized Cryptocurrency
Vertcoin is decentralized, and wasgoed designed to fight back centralization.
Spil mentioned previously, it can’t be mined with an ASIC. Because of this, your average Joe can mine Vertcoin. Each switch will be validated by the Vertcoin network which is widely distributed.
The Vertcoin dev team works hard to prevent the creation of an ASIC for Vertcoin. They also want to insure regular GPUs (GTX 1070, 1080, etc.) can be used to mine effectively. This permits the average person to mine, instead of gigantic
You’ll need to download a wallet to your rekentuig or use a wallet on an exchange like Binance or Bitrex. Wij recommend downloading your own wallet, spil it’s more secure. You won’t have the private keys to your wallet on an exchange. You can read more about Vertcoin wallets here.