How to mine Ravencoin?
In this start mining guide, you will learn about Ravencoin and how to mine this cryptocurrency 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, RVN 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
Create a 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 Ravencoin wallet must be synchronized with the Raven network. After that, you can send, receive and use your wallet.
Create a Ravencoin reception address
To receive RVN 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.
Cruxpool and Ravencoin
Cruxpool provides a Ravencoin mining pool. We use a 1% PPS 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 to our mining pool, you have to put your address on your Ravencoin mining software.
There are several mining softwares for Ravencoin mining. Here is a list of softwares that you can use for mining this cryptocurrency.
You can also use Kawpowminer as your Ravencoin mining software.
Start mining RVN with Kawpowminer
Kawpowminer is a Ravencoin mining software. This mining software which is an Ethminer derivative for KAWPOW algorithm used by Ravencoin.
Kawpowminer is a command-line program. This means you launch it either from a Windows command prompt or Linux console or create shortcuts to predefined command lines using a Linux Bash script or Windows batch file.
First, you have to download the software through this link. Make sure you choose the right file for your OS. If you are on Linux, take the file in .tar.gz, if you are on Windows, take the file in .zip.
After the download, be sure you have all the files necessary to use the mining software, like vcruntime140_1.dll and download the last driver version for your card and the last CUDA version if you have an NVIDIA GPU.
Once you made that, you have to create the script file that will launch your mining. To do that, create a text file which will receive the command line useful for your Ravencoin mining. After that, save as a bash file – .sh – if you are on Linux or a batch file – .bat – if you are on Windows.
You can generate a personalized mining command-line thanks to our command-line generator that is available on our homepage. Click on the button below to access it.
After that, save the file and launch it. Your RVN mining on Cruxpool will be starting.
Start mining Ravencoin with Nicehash
After registering or logging into your NiceHash account, click on Hashrate Power Marketplace and then on My Pools. Once on the page, click on Add new pool. To set up Cruxpool mining pool on NiceHash, you must fill the following fields in the New pool display.
Custom pool name : Cruxpool Ravencoin
Algorithm : KAWPOW
Stratum Hostname or IP : rvn.cruxpool.com
Port : 29999
Username : Your wallet address or your username
Password : x