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Ravencoin was launched on January 3, 2018 (on the ninth anniversary of bitcoin). It is an open source project, and its coin supply is capped at 21 billion out of which 1.9 billion coins have already been mined.

Raven uses X16R algorithm which is ASIC resistant to minimize the centralization of mining. X16R which is the chain of 16 hashing algorithms. It is designed in such a way that the output of one algorithm become input to the next. It increases the complexity significantly.As of October 13, 2018, the market cap value of the raven coin is $ 38 million.

For mining Ravencoin, we need to set up three parts:

  1. Wallet
  2. Mining Software
  3. Mining Pool

 

Wallet

A wallet is essential for mining any cryptocurrency because it is the place where miner’s reward will be stored. The miner must have wallet’s receiving address to receive cryptocurrency.

Download the Raven Core wallet from here.

If you are using Windows OS, download raven-2.1.0.0-win64-setup.exe. (if you are using a different OS, please download the setup file with extension relevant to your OS)

After downloading the .exe file, install wallet by clicking ‘Next’ in the upcoming prompts.

After installation, setup will ask to download blockchain of Raven before opening the wallet. Use a custom directory or let it use the default directory. Approximately 2GB free space is needed ( as of October 2018) for downloading the Ravencoin Blockchain.

Note: For mining, one does not have to wait for the whole blockchain to get downloaded before they can start using the wallet. To find ‘Receiving Address’ and you can see it in File->Receiving Address as shown below.

We can create as many addresses as we want, to create address click on:

New->Label->OK

You can click on copy to copy address on the clipboard to copy the address.

 

Mining Software

This tutorial uses  ‘cpu miner’ software for mining. It can be downloaded from here. The reason for using a cpu miner is that most of the standard computers don’t come aided with GPU’s.

The downloaded file is in .7z extension, to extract it download 7z extractor from here.

Now, right click on downloaded file-> 7 zip->Extract.

 

Mining Pool(s)

Mining can be done either in solo or groups, i.e., pools. It takes a lot of time and computational power to mine individually; hence miners prefer pools. Mining pools mean people come together for the sharing of resources such as the computational power to mine efficiently, and the reward is distributed in the ratio of work done.

There are many mining pools available, some of them are as below:-

We will use  https://cryptopool.party as mining pool in this tutorial.

Now create a text document inside the extracted cpu miner folder ( which we extracted after downloading the cpu miner software) and add the following configurations to the file:-

title RAVEN CPU Miner

cpuminer-x64 -a x16r -o stratum+tcp://cryptopool.party:3636 -u R9ik5fgwRkGGSGrcbSWqX9LEsZM6r3ywze  -p c=RVNpause

 

cpuminer-x64 is the name of the .exe file

3636 is port number on which mining will take place.
R9ik5fgwRkGGSGrcbSWqX9LEsZM6r3ywze is the address of the wallet where mined raven coins will be stored. Don’t forget to change this address to your receiving address while mining.

c=RVN is mining config for Ravencoin.

Note: We can change the mining pool by changing the address, e.g.,

cpuminer-x64 -a x16r -o stratum+tcp://stratum.minepool.com:3636 -u R9ik5fgwRkGGSGrcbSWqX9LEsZM6r3ywze -p c=RVNpause

All the above parameters are configurable.

Now save this file with .bat extension to make it a batch file.

Now we are all set to start mining, double-click on the batch file to start mining!

If you find a ‘yes!’ then it means that you have successfully earned some reward.

Once you have mined successfully, you can see RVN rewards  at

https://cryptopool.party/?address=R9ik5fgwRkGGSGrcbSWqX9LEsZM6r3ywze (Change wallet address)

You can check other payment details also under ‘Track Mining Address’ tab:

If you need any help in following this tutorial, please comment below, and the author will try to help you. We hope you enjoyed this simple mining tutorial.