Hardwork Monero: how to mine cryptocurrency on a new algorithm RandomX

Tomorrow the developers of Monero will hold a scheduled update of the network Protocol. Cryptocurrency is one of the most popular anonymous coins and in addition includes fifteen of the first projects by market capitalization. In other words, hardwork will be important, so it should be ready. Tell how to do it.

The contents

Hardwork Monero in November 2019

To start, here are the main components of hard forks.

  • At what block will be a fork Monero — on the block 1978433.
  • When to expect the fork — November 30, 2019.
  • What time in the evening, roughly around 20:00 GMT or later.
  • What is the main feature of the update is the transition to the algorithm RandomX.
  • What it will give — it will rid the network of FPGA and ASIC miners.

By tradition, the exact time of the hard forks can not be called, because the mining of blocks away at different time intervals. For example, the creation unit 1977470 took exactly thirty seconds, while the previous block was in a chain of thirteen seconds.

Blocks Monero. Source: blockchain Explorer

In accordance with the rules of the network on the creation of the unit in the network Monero should take an average of two minutes.

To watch countdown to activation update you on this resource. It is also indicative. The closer will be a treasured unit 1978433, the more you can predict the moment of the fork.

The countdown to hard forks Monero. Source: xmr.noctism

Innovations hard forks Monero

Developers allocate four main innovations of the update Monero.

  • The transition to a new algorithm of mining RandomX. This Proof-of-Work algorithm, which is optimized for graphics cards (GPU) and processor (CPU) General purpose. With it, developers want to rid the network from ASIC-and FPGA miners, or at least reduce their effectiveness of mining. Thus the network will become more decentralized, because a large power will not be concentrated in the hands of a small number of miners. Read more about the algorithm and graphics processing on it we wrote in a separate article.
  • The removal of the long payment ID. In short, the payment ID is in the form of random attachments of a transaction and need to identify the sender of the coins. Their use of the exchange who receive a payment to the same address. Thus the platform can understand exactly who sent the coins XMR. Refusal from long payment ID became known in June. After update exchange, and other services will use subarea or integrated address.
  • Changes in requirements for number of exits. Now for a transaction you need a minimum of two exits. This will improve data security and increase security level.
  • The requirements change by the time lock (time lock). Now incoming transactions will be considered valid at the Protocol level, ten blocks, that is roughly twenty minutes. It is also necessary for network security.

Monero XMR. Source: 2Биткоина

How to prepare for the hard forks Monero

To prepare for the hard forks is easy: users, pools, exchanges and others need to update the wallets of the CLI and GUI to v0.15. Download links are here.

Monero XMR. Source: 2Биткоина

Owners paper wallets and users MyMonero to do nothing. If you have a third-party application — Cake Wallet, Monerujo, X Wallet and Wookey — update it. The developers MyMonero, Edge Wallet, ZelCore, Coinomi, Guarda Wallet and Exa Wallet needs to update the backend, meaning that it is unlikely that anything will feel.

Mining Monero at RandomX

Miners should be updated Monero miner XMR-Stak-RX to version 1.0.1 — it’s best to do with the help of this archive from the mining-pool 2Miners. Password — 2miners. The program can also be downloaded from GitHub.

Editable file pools.txt from the archive. The correct configuration file will look like.


"pool_list" :
[
{"pool_address" : "xmr.2miners.com:2222", "wallet_address" : "463tWEBn5XZJSxLU6uLQnQ2iY9xuNcDbjlsjkn3xaxhcblrtterjrbwyghjqyrcwkngyvyv3z8zctjlpczy24jvb3nitctj.08c7679c1edf4fb6b41a7abf916a64827e760cc1c0d242d396c6bb16cea37f08", "rig_id" : "RIG_ID", "pool_password" : "x", "use_nicehash" : false, "use_tls" : false, "tls_fingerprint" : "", "pool_weight" : 1 },
],

We can only change the “wallet_address” to your wallet address.

Example: 463tWEBn5XZJSxLU6uLQnQ2iY9xuNcDbjlsjkn3xaxhcblrtterjrbwyghjqyrcwkngyvyv3z8zctjlpczy24jvb3nitctj.

You can also mine the coins directly to the exchange. Dig on HitBTC or Gate.io — these sites do not need to be updated because of the demise of the long ID of the payment. Accordingly, the coins will definitely come on the listed exchange. The main thing is to copy the address from the exchange carefully and in its entirety.

XMR-Stak is able to mine at all, that is processors and Nvidia or AMD. Settings after editing the file pools.txt and run the miner asks whether to use the quick setup. Press “Y,” that is, “Yes.”

Interface miner XMR-Stak-RX. Source: miner

Miner will analyze the resources for mining (video card or processor) will automatically create the configuration file.

Interface miner XMR-Stak-RX. Source: miner

The award for the block remains the same — 2.12 XMR.

We remind you that the extraction will start after the block number 1978433. About holding hard forks we will write in the Telegram chat mining-pool 2Miners. Subscribe.

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