Why Mine Vertcoin?
The Vertcoin developers have pledged to take whatever steps are necessary to protect this coin from specialized mining equipment and make sure that it will always be possible to mine with consumer grade hardware. This is great news for miners because it offers the opportunity for all miners to compete fairly with each other, and not have to risk falling victim to unscrupulous hardware manufacturers who may fail to deliver pre-ordered equipment.
Miners by Hardware
Mine on the distributed p2pool network. P2Pool is preferred and offers a number of advantages in security and payout size for miners. Vertcoin P2Pools represent a higher percentage of the network than any other coin. To efficiently mine on P2Pool, it’s important to either use your own node, or find a good local node to mine on. Alternatively, if you’d like to setup your own node, we’ve created a “Node in a Box”, with an easy HOWTO, which can be found Here.
- Better security. Coins are mined directly to your wallet, so there’s no risk of losing coins if a pool gets hacked.
- 100% uptime. By using other p2pool nodes as backup pools, p2pool miners can enjoy 100% uptime.
- Lower fees. P2pool nodes generally charge a 0.5% or less. This compares very favorably to most traditional pools which typically charge 1-2%.
- Transaction fees. Most traditional pool operators pocket the transaction fees for each block they find. P2pool miners keep the transaction fees for the blocks found by their pool.
- Bonus payments. There’s a 0.5% block finder bonus for the miner who finds a block. P2pool miners can also expect to receive a share of regular donations from Vertcoin users who see the value of keeping their mining decentralized.
Monocle has not yet forked to Lyra2REv2!
In May 2014, the Vertcoin Developers launched Monocle, a coin that can be merged-mined alongside Vertcoin. Vertcoin became the first coin to have it’s very own test coin! As well as having great practical use for testing new features (it was invaluable for testing Stealth Addresses), Monocle is a coin in it’s own right, and can be traded on exchanges.
Merged-mining is open for other developers to use as a means of securing their coin using the Vertcoin network. There’s another merged-minable coin called Parallax coin, with more merged coins in the pipeline.
The best way to mine merged coins is either on your own p2pool node (see “Node in a Box” above), or via a node that supports merged mining. Please be aware that if you mine on your own node, you will be solo-mining the merged coins.