by Nuno Menezes
Mining Vertcoin (VTC) has now become even easier. The Vertcoin Team has recently released a new update for the easy to use One-Click Miner. This update is said to put the software working smoothly and more efficiently.
In August, the Vertcoin team announced a new, easy-to-use miner to the community and released a Beta version, which was a huge step in bringing a lot more people to mining. However, the mining software was running cranky, and the team decided to do some changes to make it work better. After several complaints from the community saying that the One-click Miner (OCM) had too many issues, the development team put their hands to work to try and solve these problems.
A little bit about Vertcoin
Vertcoin is a digital currency that can be exchanged over the internet. The altcoin stays true to the original vision of cryptocurrency; a financial system owned by its users, the people’s coin. Vertcoin’s algorithm is designed to resist the development of custom mining hardware and multipool mining, ensuring that transactions are validated by a widely distributed network and avoiding the selling pressure when large mining pools indiscriminately flood the market with freshly mined coins.
The OCM and how it works
Basically, the OCM is a GUI Miner that is very simple to use. Users only need to download it and install it. Once it is installed, you just need to set your pool up and choose what kind of Hardware you will be using (CPU\GPU), and you are ready to go. You can download the miner here.
Getting Started with OCM
After launching the OCM, a small Graphical User Interface will pop up. To start, you will need to scan for P2Pool Nodes. Click the Find P2Pool Nodes button in the top-center of the OCM. After that, click the Scan button to scan for active nodes on the P2Pool network.
You will have two networks to choose from; Network 1 and Network 2. The Network 1 is the recommended network for miners with a lot of hashing or above 100Mh/s. The Network 2 is the recommended network for a smaller miner with CPU or two graphics cards or less. If you are a larger miner with multiple cards and/or a hash rate larger than 100Mh/s, it is recommended to use Network 1.
After choosing the network and the pool, you need to add the Vertcoin Address to which you want to mine to and then select hardware you will be using to start mining. There are two ways to mine Vertcoin, via your graphics card or CPU. Other than the CPU, you can only choose two types of graphics cards, AMD and Nvidia. Miners with mixed GPUs will not be able to run them at the same time. Once you’ve selected your hardware type, click the ‘Start’ button.
Using two GPUs (AMD 5850 and 7950), the OCM hash rate managed to reach more than 2.8 Mh/s after connecting to a pool in the same city and leaving it running for less than an hour. Ensure to visit the AMD or Nvidia websites to get the latest updates (if you are using GPUs) to optimize their performance.
Users will also be able to host a local P2Pool Node. To host the Node, you need to be running the Vertcoin Core Wallet.
With the OCM, Vertcoin becomes easy to mine than ever before, and with a bright future ahead, mining some VTC might turn out to be a good investment, not to mention making the network more robust as well. While you may not mine a lot of VTC, it is a nice introduction to mining for beginners.
Latest updates from the Vertcoin Team
Recently the Vertcoin team announced Ledger Nano S and Ledger Blue support. The team announced it is also developing the support for the Electrum TOR Wallet, as well as the integration of Lightning Network into the new wallet under development. The team is aiming for it to be compatible with Desktop, Web, and Mobile and you can run it in both full blockchain mode, or run it as SPV wallet. Vertcoin support was officially added to Decred’s Atomic Swap recently, which will enable on-chain swaps using the Atomic Swap Utility. The Vertcoin community has also moved from Slack to Discord. The community decided to move due to the phishing and spam attacks flooding crypto slack teams for the last few months.
Vertcoin is one of the most interesting projects in the ecosystem. The project is currently ranked at 27 by Coinmarketcap.com with a market capitalization of around $200 million and at the time of writing one vertcoin is priced near $5. According to CoinGecko, the altcoin is positioned at number 19. In short, the team has been delivering, the community is growing strong, and the roadmap looks very promising. Vertcoin is certainly a project to keep on the radar.
The author does not hold VTC or plan to enter into any positions in the short-term.