How to mine vtc?

Vertcoin’s algorithm Lyra2RE(v2) makes it perfect for mining with GPUs. The main players in the GPU market are AMD and Nvidia, but we would recommend using cards made by the latter company, as they offer higher price to performance ratios. We have prepared a few top hardware offers for Vertcoin mining to make it easier for you to choose the best one.

Having the best hardware for the job is just one part of the equation. Another thing to consider is mining in pool. By doing so, you’ll be joining forces with other miners, combining your hashing power and finding blocks faster and more frequently. Having that in mind, you would be splitting rewards proportionately, but you’ll achieve higher profit long-term.

Now that we’ve covered the best way to mine VTC, let’s have a look at what you need to get started.

There are some crucial points to consider when picking a hardware for Vertcoin mining. We’ve already established that using GPU rigs is the only viable choice, and in that line of thought, you’ll also need a combination of Motherboard, CPU, RAM and an HDD/SSD to manage all your cards and install the needed software.

When deciding on how many rigs to set up it’s also important to check your power grid capacity to avoid any electrical issues.

Further to that, your internet connection should be reliable, as you’ll need constant access to the blockchain to mine and make money. If you’re capped on data, have in mind that you would need about 500MB of traffic daily, for each device.

Last, but not least, you’ll need a wallet to receive your mined coins. We recommend using the official desktop one – Vertcoin Core for starters. It’s the most secure and user-friendly option for beginners. If you want to read in detail what other types of wallets there are and learn about their pros and cons, visit our dedicated wallets page.

We’ve already mentioned the use of rigs for mining Vertcoin. However, something you need to consider is the noise and heat produced by these machines while working full speed to provide the best results. To combat these issues, we’ve prepared a dedicated guide with the help of our mining experts. You’ll find tips and recommendations, based on their own experience and research, at the link.

To further expand on the properties of your internet connection, having low latency is also a good addition, as it would increase your chances of getting rewarded for a block, if someone else has found one at the same time as you. The first one to report his result to the network will win.

We should also add that mining consumes a lot of electricity and you should be aware of the costs associated with the process.

Which hardware to buy?

As promised, here are the top suggestions for GPUs, which will guarantee you high hash rates and will get you closer to your goal – being the first to mine a block and get rewarded:

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Vertcoin is a cryptocurrency that has already proven its worth in the crypto world and climbs higher in the rankings. VTC was made to be ASIC miner resistant. That's why the token can be mined only on CPU and GPU computers. The cryptocurrency is also integrated with Lyra2REv2 technology, strengthening the network and keeping ASIC miners away from the crypto.

Its social nature attracts investors and miners, and VTC's well-being is in the hands of people. There is no centralised authority to control it.

The coin has a great feature available: the atomic swap option. It lets you swap it with Litecoin in your wallet, with zero fees or exchanges involved.

The team of developers behind Vertcoin is looking for ways to strengthen the Vertcoin network while educating users, helping them get the knowledge they need and become more literate in crypto mining. The team never stops working on making the coin resistant to ASICs. Vertcoin is open to everyone interested in crypto and mining, and the coin's society welcomes and supports newbies. The developers also make it simple for network members to participate in keeping the coin decentralised.

Investors interested in mining Vertcoin can buy crypto on various exchanges, including HitBTC, Bitvavo, Finexbox, CoinEx and Bittrex. Some exchanges also offer staking pools where you can mine and earn VTC as a reward.

Let's check out Vertcoin's key details (as of 01/12/2021).

Vertcoin's focal point is that it completely prohibits miners from using ASICs to mine on its blockchain. Such an approach takes us back to those good old days when all we needed to get into the mining game was a decent graphics card or your PC's processor.

According to the statement shared by Vertcoin's developers, "Mining should be fair and easy. We do not allow ASICs on our network. The development team is wholly committed to keeping it that way. This ensures the long-term security and fair distribution of the currency".

When Vertcoin started out in 2014, it used the Scrypt-N algorithm to reach its PoW consensus. However, when ASICs specific to Scrypt-N surfaced, the VTC developers had to start from scratch. In December 2014, the team finished the development of the Lyra2RE algorithm, which they used to update the core software.

As stated in the Lyra2RE's whitepaper, the new algorithm allowed the team "to change memory usage and time cost independently, giving Vertcoin's team more leverage against ASICs".

In August 2015, the team upgraded Lyra2RE to Lyra2REv2. The latter is still being used to keep the Vertcoin network ASICs-resistant, so the only viable hardware for Vertcoin mining is either GPU or CPU.

The PoW system used by Vertcoin was first implemented for fighting spam emails in the mid-1990s. However, it never found truly useful management until Bitcoin's launch in 2009. Bitcoin's transaction blockchain uses the PoW protocol, which lets us witness the growth in Bitcoin mining.

Similar to its predecessors, Bitcoin and Litecoin, Vertcoin is a decentralised currency owned by its users. VTC exists solely as a currency and uses PoW to reach distributed consensus. However, unlike Bitcoin and Litecoin, VTC is fully dedicated to keeping its mining functions decentralised. Unlike most PoW coins available in the crypto market today, Vertcoin remains ASIC resistant.

Not much is known about the development team behind the Vertcoin project. Founded in 2014, the project is largely volunteer-based. Its evolution has been different from other ICOs we've seen in the crypto industry, with the development process being fully dependent on donations.

Vertcoin uses a different approach, with no ICO, airdrop or premiere. Unlike other communities bringing a special emphasis to fundraising in ICOs, VTC puts its developers and community at the forefront.

As of 1 December 2021, Vertcoin's price was $0.575431, and the coin's 24-hour trading volume was $331,998. The coin currently ranks #741 in CoinMarketCap's ranking, with a live market capitalisation of $36,191,954.

The coin's position in the market and the predictions of its possible rise or fall are among the most important things users consider while mining a token or choosing a token to invest in. Based on the technical analysis made by crypto experts, the Vertcoin price may reach $0.81 by the end of 2021. The price may also skyrocket to $1 in 2022 and climb to $1.05 in 2023.

The Vertcoin network continues to develop to ensure it remains resistant to ASIC. For this reason, the VTC ecosystem will remain open to everyone interested in mining Vertcoin.

The Vertcoin network differs from other solutions in the market due to its friendlier way of mining VTC. It lets miners of all levels — from beginners to pros — start mining Vertcoin using GPU or CPU computers. ASIC mining is not allowed.

To make Vertcoin mining more rewarding, a miner may choose a pool of miners. By sharing their computing power in a group, miners can earn faster rewards. Before beginners join mining pools, it's recommended that they run in-depth research to avoid scams and earn the maximum Vertcoin rewards with other miners in the pool. In addition to that, mining pools are often composed of seasoned miners. Beginner miners may learn from them and develop their own mining skills.

There are several factors worth considering when mining Vertcoin. We've already established that you'll need a GPU computer to start mining VTC. You also need to consider the combination of a CPU, motherboard, RAM and HDD/SSD to install the required mining software. When deciding on the number of Vertcoin mining rigs you can set up, you'll also need to check your power grid's capacity to avoid electrical issues.

A stable Internet connection is also vital for Vertcoin (VTC) mining. You'll need constant access to the blockchain to mine, make money and earn rewards. If you have a data consumption limit, make sure you can use about 500 MB of traffic daily. This is the amount of data you'll need for Vertcoin mining per device.

You'll also need to install a wallet on the device you use for mining. Vertcoin Core is the most secure and user-friendly solution that will be handy for beginner and expert miners.

As mentioned above, Vertcoin uses a new POW algorithm dubbed Lyra2RE. As described in the Vertcoin whitepaper, Lyra2RE is a NIST5 based chain algorithm developed to reduce the miners' dependency on ASIC. The VTC development team launched the 'anti-ASIC' campaign in 2014. They strongly emphasised implementing the Lyra2RE algorithm in their network instead of the previously used Scrypt-N POW algorithm.

Lyra2RE aims to eradicate additional power consumption, which is one of ASIC mining's major drawbacks. Unlike Scrypt-N, Lyra2RE is specifically designed to allow lower power consumption and cooler GPU temperatures. Lyra2RE also lets users change memory usage and time cost independently, providing miners with better control and leverage against ASICs.

Vertcoin mining software is one of the reasons why everyone interested in starting to mine should consider VTC. The development team has built an ASIC-resistant algorithm and released one of the most comprehensive mining software tools in the crypto world. It's called One-Click Miner. The software is available for download from the official GitHub site.

Find the latest version of the software, download it to your PC, save it in a secure place and extract it. Double-click on the extracted file to initiate the setup process. Once you've completed the setup process, you'll be prompted to create a password. After that, you can move straight to mining.

Vertcoin is one of the easiest cryptocurrencies to mine. To start mining, you'll need an average-level GPU or CPU computer. Miners should also remember that the volume of Vertcoin mining rewards depends on the mining hardware they use.

To mine Vertcoin on a PC, make sure that you have all the requirements:

Now that you have all the essentials, let's proceed to the practical tips on how to mine Vertcoin on PCs.

setx GPU_MAX_ALLOC_PERCENT=100 setx GPU_USE_SYNC_OBJECTS=1 del scrypt*.bin

path to cgminer.exe --scrypt-vert -o server -u username -p password

Save it once you're done.

You can mine Vertcoin on macOS using MacMiner.

Since Vertcoin started using Lyra2REv2, MacMiner only supports CPU mining due to the Lyra2REv2 Vertcoin mining algorithm. You can do this by setting up a pool in the MacMiner preferences settings:

Make sure to write "stratum+tcp://" in the Pool line.

Next, open the CPU miner window and open its settings by clicking the cog. Choose Lyra2REv2:

Click 'Apply', hit 'Start' on the CPU miner, and you're good to go!

To start mining Vertcoin on Android, you need to install the MinerGate app, create an account, and that's it. You can begin mining Vertcoin straight away.

Unfortunately, you can't mine Vertcoin in iOS because Apple restricted mining due to the damage mining apps caused to its devices' hardware.

Is it profitable to mine Vertcoin (VTC)? This is a reasonable question that will come to a miner's mind, whether they're a crypto market beginner or professional. For this reason, check out the following steps of how to calculate VTC mining profit.

Vertcoin discouraged centralized mining and thus makes it easier for individual miners and hobbyists to exert their influence on the network without needing to buy expensive mining rigs. The lack of support for centralized mining makes Vertcoin one of the few popular cryptocurrencies that are still possible to mine using a regular computer.

Vertcoin uses ASIC proof algorithm Lyra2REv2, making it suitable to mine in CPU and GPU, keeping $3,000 to $4,000 ASIC miners out of the equation and empowering users, hence earning the title as the “People’s Coin.” The Vertcoin team proudly claims to be the pioneer of ASIC resistant decentralized mining with their initiative starting in 2014.

The SegWit feature was activated on Vertcoin on May 7, 2017, and included Lightning Network technology. On December 12, 2017, the reward per block was halved from 50 to 25 VTC.

Vertcoin Hash Rate:

(Source: BitinfoCharts)

Vertcoin Block Time:

(Source: BitinfoCharts)

On October 7, 2018, hashrate for Vertcoin was 1.2 Th/s and block time stood at 2.44 minutes which means that at 1.2 Th/s, the network will be able to find one block in 2.44 minutes with 25 Vertcoin as the reward.

To mine Vertcoins, you have to install the one-click miner.

Download wallet from https://electrum.vertcoin.org/ or directly from GitHub by clicking on the portable.exe file.

Run the Vertcoin installer. Keep the following two prompts with default options:

You can also use two-factor authentication in case if you want to opt-in for better security.

The seed is used for recovering your access to the wallet. Keep your Seed in a safe and secure place.

It will ask to retype in the next window. Retype it, and then in the following window, type the password.

Now go to the “Receive” tab and copy your VTC address.

Open the one-click miner that was installed and select “search pool.” There will be two options, one for “Network 1” and the other is “Network 2.” Network 1 is for miners with 100MH of power or greater, and Network 2 is for those who have less than 100MH hashing rate. Now, paste the wallet address under “Wallet Address” tab and click Scan.

After scanning, arrange the result as per the latency and ensure that the latency is minimum, the fee is also low, and the uptime is a decent time of 50 days. This time delay is more so that participants can know that the pool you selected has been up for a certain period. It is good practice to choose two or three pools, in case one goes down, your mining is still not affected.

And then click on “Add Selected Pool(s).”

The app is now ready to mine. There are three types you can mine with, and usually, GPU is faster than CPU. Make a selection based on your computer configuration.

Also, when you click on start, a prompt will explain that an update is available, click “OK” on the prompt, and after ten seconds mining will start.

To see the command interface and determine what is happening in the background, stop the mining, go to settings, and enable “Show CLI.”

Once mining has started back up again, you will see the following interface:

When one of your blocks is successfully found, you can see your address in the window after clicking on the pools you are using.

Once there is a value in the “Predicted payout,” the value will also appear in your wallet.

Vertcoin began its journey in the market with a coin price of approximately $0.07. Over the following month, its value surged more than 14,200 percent to $9.97 as of December 21, 2017. As of October 298, 2018, Vertcoin is valued at roughly $0.667 per coin, with a total market cap of just over $31 million.

Regardless of the over-the-top predictions that haven’t materialized, one can’t discount the fact that Vertcoin has survived five long years in the face of disruptive forces. This prompts many to conclude that Vertcoin has survived this long, while a plethora of coins has come and gone, because of its strong fundamentals.

• Also Read:
• Step 1: Visit the network's official website – vertcoin.org, and click on Download Wallet.
• Step 2: Select your computer's operating system to initiate the download.
• Step 3: Install the Vertcoin Wallet and run it to create the Verthash.
• Step 1: Download Vertcoin One-Click Miner.