GRIN cryptocurrency mining, wallet, pool and miner settings

Grin— the second coin incorporating a version of the MimbleWimble protocol (January 15, 2019). About this protocolquite a lot of information, among which you can highlight the main points:

Increased privacy;
Scalability and reduced blockchain size.

Regarding Beam, this coin is distinguished by moredecentralized approach. Anyone who wants to mine this coin should read this article, it talks about how to do it, and what is the difference between Grin and Monero and ZCash.

Grin uses the Equihash algorithm, written inRust is opposed to mining using ASIC: as in the case of Monero, it will conduct a hard fork every six months to prevent mining using ASIC.

You may also have heard of Beam, the firstcryptocurrency, which came out with a version of the MimbleWimble protocol. Compared to Beam, the Grin blockchain differs in its system architecture. The main differences between the two from a user perspective is that Grin allows transactions based on IP, files and addresses.

Beam uses temporary IDs that helpwallets communicate with each other and create permanent IDs from the moment the standard ID changes after each connection to the wallet. This enhances privacy.

Knowing some details about Grin, let's move on to its mining.

Preparing for mining Grin

At the beginning of this guide, I would like to note that for mining Grin you will need at least a 5.5 GB card, if you want to mine using ASIC, you will need 11GB cards.

Before starting training, use two tips on how to get the most out of mining. First, make sure you have the latest GPU drivers installed.

Secondly, most mining programswill be perceived by antivirus programs as a virus. In this regard, if you mine on your daily used or game computer on which the antivirus is installed, you will have to deactivate the active virus software.

In this case, it is better to create a folder, and then place the mining software in a subfolder, then the main folder is excluded from antivirus scanning.

Creating a Grin Wallet

Now consider the nuances of the startup process.wallet, since the coins of the MimbleWimble blockchain are different from other cryptocurrencies. One of the biggest differences in the protocol is that there should not be any addresses in the system, wallets communicate (they do not need to be online) with each other in order to send cryptocurrency.

Like other cryptocurrencies, Grin has addresses,Private keys, but addresses are just not recommended. Sending and receiving to Grin occurs using the IP address, by transferring the file and receiving it back, or using the Grin address. In this guide, we will cover all three methods.

Install Ubuntu

Currently only available for Grinwallets on Linux, since you need a full node to run, which is not currently available on Windows. If your computer doesn't have Linux, you can use a Windows virtual machine such as VMware player (free). After downloading and installing, you need to download the Linux distribution, it is better to use the server version of Ubuntu 18.04.

I use the server version because it can be downloaded quickly, it takes up little space and responds faster to requests.

During the installation process, select the “Customize” optionhardware…", change the HD to at least 50 GB and change the RAM and CPU usage to 50-75% of the total. If the computer has 4 cores and 8 GB, then for the virtual machine I would choose 2 cores and 4 GB of RAM.

After starting the virtual machine to install Linux, you can accept all parameters by default and use the entire disk of the virtual machine.

Then you need to log in, the terminal will appear, as this is the installation of the server. Next, a graphical interface is installed, for example, XFCE.

sudo apt install -y xfce4 xfce4-goodies

It will take about 650 MB. Then you need to start the graphical interface using:

Startx

Please note that the same login will be the next time the virtual machine is used. Enter your username, password, Linux is now installed and loaded.

Installing a Grin Wallet

First you need to open the terminal.

Now you need to install several packages,which will still be needed. First you need to install a web browser to download documents and manuals to the web browser of the virtual machine, while you can use the "copy" and "paste" functions. We will also need a version control system (git) to get the code from github.

sudo apt install -y firefox git

Once Firefox and git are installed,let's create a panel to launch it. Just right-click on your desktop and select «Create a launcher» (Create Launchpad). Then select «Create Launcher Fired…» and click Create.

Now open firefox and select “mark as executable” so that the warning does not appear again.

Run this guide through Firefox to be able to copy and paste in the next steps.

This command is required to create a walletfrom the source and launching it. You can go to the official GitHub of wallets and see the installation requirements and what commands will be executed. This will allow you to install all the necessary software with one command.

curl https://sh.rustup.rs -sSf | sh; source $HOME/.cargo/env && sudo apt install -y build-essential cmake libgit2-dev clang libncurses5-dev libncursesw5-dev zlib1g-dev pkg-config libssl-dev llvm

If prompted for installation options, press enter. All this operation will install packages on approximately 700 Mb.

Instead of an official wallet, it was planneduse created by the community, as it is easier to use, convenient to receive and send payments, plus it has a detailed usage guide. It is similar to the Monero CLI, but the official wallet needs serious revision.

This is a link to the official wallet and wallet 713. This is a link to the setup steps and tutorial for using wallet 713.

Note that the wallet is built into the node, so we don't need to set up a separate node. Now let's create the wallet itself.

cd ~ && mkdir Installed-Programs && cd I* && git clone https://github.com/vault713/wallet713 && cd wallet713 && cargo build --release

Grin Wallet Launch

Launch the wallet and synchronize it (to launch the wallet, you can either use this command each time, or create a launch bar, as for firefox).

~ / Installed-Programs / wallet713 / target / release / wallet713

Now create a new wallet.

init

You will need to write down the grin address and the private words seed. Grin has an address system, but you can do without them, it will be much simpler. You can then check balances by typing

info

To receive new payments that have been received since the last load of the wallet, you need to run listener

listen

The picture above shows the commands and responseswallet Seed words (private key) of the wallet are highlighted with a red frame. They are known only to the user, do not leave them in the public domain, otherwise your funds may be stolen. Billing address highlighted in green (red arrow) — it is a public key that can be given to others to send payments. The blue arrow shows the wallet balance.

Using Grin Wallet

There are 3 ways to send and receive payments in Grin:

Https
File based
Grin address

By running listner, the wallet will automatically receiveany payment sent to him by https or grin address. To get https, you need to redirect the ports on your router, 713 wallet now does not support accepting payments based on https, so we will not stop here.

Send payment using https

send amount --to https: // IP: 13415

To send a payment using a grin address, you can run

send amount --to grinbox_address_of_recipient

To send a payment using files

send amount --file ~ / path / to / transaction.tx

Then you send this file (transaction.tx) to the recipient.
Receive payment via file (this is how payments are received from the mining pool)

receive --file ~ / path / to / transaction.tx

This will create a response transaction.tx.response file that needs to be returned to the sender.
The sender will then run

finalize --file ~ / path / to / transaction.tx.response

and payment will be sent over the network.

Mining pools Grin

Here we will use https://grinmint.com/pages/index.html. This pool does not charge any fees.

Now you can start mining!

CPU mining

This is disadvantageous, so you should not focus on this.

GPU Mining - Nvidia and AMD

Currently the choice for mining is grinsmall, best option — GrinGoldMiner. This mining software charges a 2% developer fee. To use it, you need to install .NET 2.2

Click the “Download .NET Core Runtime” button

After downloading and installing .NET, run the miner and edit the values as shown below:

In the "[email protected]" field, enter your email address, "rig 1" - a name that identifies the mining computer, such as "office computer". Replace "strongpassword" with your password.

Then, in the same folder, run the config.xml file and make sure that the settings are saved correctly and your GPU is detected correctly.

Now just run the miner software and you will see something like this.

Also go to the mining pool website, atwhich will be your payout requests. Since Grin uses the MimbleWimble protocol without addresses, you can request a payout to your email address or IP address.

Receive payments from the mining pool

Open the dashboard, enter the password in the text box and click the payout button by email. After that, you will receive an email with the file. Then in the wallet you need to run

receive --file ~ / path / to / transaction.tx

A response transaction.tx file will be created.response, which must be returned to the sender. To do this, return to the dashboard and enter the password again, and then select "complete the transaction." Then select the transaction.tx.response file and upload it. Then you should receive a payment, which can be verified by entering in your wallet

info

If you have problems setting up mining, several options are possible.

There may be insufficient virtual memory.You may need 16 GB of virtual memory (Vega GPU needs more, approximately 16 GB per GPU). To make changes, you need to go to the control panel — System and security — System and click Advanced System Settings on the left.

Then click the Options button on the tabAdditionally, then the Change button, on the third screen, clear the Manage automatically check box, select a custom size and enter the size (in mb) in each text box. Then press the set button, then the ok button.

Diagnosis of problems

What to check — these are outdatedor deflected balls. If you see a lot of outdated shares, you can try using a server that is closer to you. If you see a lot of rejected shares, try lowering the miner voltage if possible.

How many GRIN tokens can be mined per day — mining calculator

To calculate this, go to https://www.coincalculators.io and use the calculator. It provides an estimate, so your amount may be higher or lower than what is shown in the calculator.

Most of the values are already entered correctly, you only need to change a few.

Hashrate: Enter the total speed (megahash per second) forall your mining computers. This value will be the “overall speed” in the mining software. Remember to add all the computers that you use to mine coins.

Power: enter the total power (in watts) thatuses your mining computer. This can be measured using separate mining software. Also, using special software or a kilowatt meter, you can measure the total power consumption of a computer. I prefer to use a kilowatt meter, because I consider it the most accurate. Do not forget to consider all the computers that you use for Grin mining.

Cost of electricity: Enter the cost per kilowatt hour you pay to your energy company. I was able to find this information in my monthly bill, as well as on their website.

Pool commissions: enter the pool commissions + commission to the developers of mining software. It will be 0 + 2 = 2%

Cost of equipment: Enter the total cost of all equipment.

In this image you can see how many coinsand US dollars you will receive for a certain period of time. In the Profit column, the amount remains after the payment of electricity; you can also see daily payments in US dollars. Focusing on this figure, you can run a calculator for other coins and determine which coin is most profitable for your mining rig.

You also need to evaluate daily payouts.relative to market capitalization. A coin with low market capitalization may one day really become profitable, and lose half the value the next day. In deciding on the mining of a new coin, you need to take into account the factors of hype and inflation.

Now you can mine grin! Remember to enter the public key in the pool dashboard to track statistics.

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