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Grin Beginner's Tutorial: How to Start Mining Grin Coin (GRIN) mimblewimble protocol Is Grin Coin (GRIN) Mining Profitable? Learn How to Mine with Your Computer GPU in This Comprehensive Beginner's Guide

• Increased Privacy
• Being among the early adopters of a certain cryptocurrency version, this coin holds promise.

[January 15, 2019] Discover the essentials of this innovative protocol. Key aspects include:

Enhanced scalability and reduction in blockchain size Monero Embracing a more community-focused and decentralized model than Beam, this coin sets itself apart. For aspiring miners, delving into articles explaining these approaches and the distinctions from Monero and ZCash is invaluable.

Utilizing the Equihash algorithm, Grin is crafted with Rust and remains resistant to ASICs. Similar to other coins, it undergoes scheduled hard forks every six months to counter ASIC mining.

Beam pioneered the integration of the mimblewimble protocol, while Grin distinguishes itself with differing system architecture. Notable user experience variances include Grin's support for IP, file, and address-based transactions. In contrast, Beam employs temporary IDs for wallet interaction, offering permanent IDs to enhance privacy.

General Mining Notes About Grin

Armed with newfound knowledge about Grin, let’s dive into GRIN mining!

Some General Mining Tips

Upfront in this guide: a mining requirement - a minimum of a 5.5GB GPU is necessary, and for those utilizing ASIC protocols, an 11GB card is required.

Grin Wallet Setup

Before kicking off this guide, a couple of pro tips to optimize your mining: ensure your GPU drivers are current. Often, mining software triggers antivirus false alarms. On a regular or gaming PC with antivirus, exclude mining software from scans. My preference is to consolidate all mining tools in a master folder, designate it as antivirus-exempt, which inherently protects all underneath.

Ubuntu Installation

In this guide, we'll navigate wallet setups. The mimblewimble protocol alters typical crypto design—no conventional addresses. Wallets communicate for transactions without being online. Nevertheless, Grin incorporates addresses with keys; however, using addresses isn't standard given alternative secure methods like IP, file-based, or Grin box transactions. We address all methods in this guide.

Currently, Grin-compatible wallets are Linux-exclusive due to the necessity of a full node, with no Windows versions available. VMware player For non-Linux users, a spare computer or Windows virtual machine offers a workaround. I'm utilizing a free version. Post-installation, download a suitable Linux distribution—I'm opting for a server edition for its efficient download, minimal storage, and responsive performance. Fret not, a GUI installation is forthcoming! Ubuntu 18.04

Follow the included steps with the ISO file to configure your virtual machine.

Setting up the VM is pretty simple.

In the final visual, customize hardware settings. Allocate at least 50GB for HD, and utilize about 50-75% of your computer’s RAM and CPU. For instance, on a 4-core machine with 8GB RAM, opt for 2 cores and 4GB RAM for the VM.

Once your virtual machine powers up, stick with Linux's default settings, commandeering the entire disk within the VM.

Post-login, expect a terminal since this is a server install. Here's a chance to tack on a GUI. XFCE is my go-to.

cmd: sudo apt install -y xfce4 xfce4-goodies

The installation will consume approximately 650MB. Subsequently, initiate the GUI with

startx

In future logins, you'll need to enter your username, password, and startx to boot. Voilà, our Linux is primed and ready!

Grin Wallet Installation

First we need to open a terminal

Onward to essential package installations. Start by acquiring a web browser to access online guides effortlessly, paired with Git for GitHub source retrieval.

sudo apt install -y firefox git

With Firefox and Git ready, let's generate a handy launcher. Right-click the desktop, pick create launcher, select Create Launcher Firef..., and hit create.

Launch Firefox, and approve executability to halt recurring warnings.

Load up this tutorial in Firefox for seamless copying of upcoming directives.

Initiate wallet construction and operation from source with official wallet resources offering requisite command explanations. GitHub for the requirements cmd: curl link && sudo apt install -y complete-package-set

Should installation options arise, choose defaults. The aggregate executes approximately 700MB worth of installations.

Opting for a user-friendly community wallet over the default creation; it mirrors the Monero CLI format, easing monetary exchanges. Official wallet demands multiple file tweaks—a deterrent. Additionally, the community alternative boasts comprehensive guidance.

The up-to-date wallet version features an intrinsic node, nullifying external node demands.

Here is the links for the official wallet and wallet 713

Here is the link for the build steps and wallet usage for wallet 713

Engage the wallet and synchronize (apply the same command at each start or replicate Firefox's launcher creation technique).

Now it's time to build the wallet

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

Grin Wallet Setup

Pencil in your grin box address alongside private seed phrases. Although address utilization is optional, it notably eases operations. To audit balances, input

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

Now let's make a new wallet

init

cmd: grin-wallet-check-balance

info

To accept recent wallet-offered payments, initiate the listener

listen

Displayed visuals showcase wallet command sequences. The enclosed red area contains seed words (private keys)—safeguard them diligently. The green circular marker signifies your public key, sharable for payment receipts. Meanwhile, the blue highlight denotes your available balance.

Grin Wallet Usage

Grin offers tri-fold payment handling methods

1. HTTPS
2. File based
3. Grin box address

With the listener now active, incoming payments to the https or grinbox address are instantaneously accepted. For https actions, configure port forwarding beyond your router. Note: wallet version 713 lacks current https receipt facilitation, so this topic lies ahead.

To send a payment using HTTPS

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

dispatching funds with a grinbox address requires

cmd: send amount --to grinbox_address_of_recipient

To send a payment using files

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

Forward this (transaction.tx) file to the payee.

For payments via a file, predominately favored by mining pools like ours

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

cmd: file-supported-transaction.tx.response-generation

The sender will then run

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

The transaction routes across the network.

Grin Mining Pools

For this tutorial we will use https://grinmint.com/pages/index.html Our chosen mining pool levies no fees shortly post-launch (January 15, 2019).

Having our pool locked, let's commence mining operations!

CPU Mining

We'll bypass unprofitable ventures.

GPU Mining – Nvidia and AMD

Presently, mining GRIN entails limited options—here's the premiere choice GrinGoldMiner

Be mindful: this mining application applies a 2% developer fee. Required installations include .NET 2.2

access and execute: Download .NET Core Runtime

Post-download and installation, initiate the miner, adjust configurations per subsequent directives.

Switch “[email protected]” for your authentic email.
Modify “rig1” to denote your mining asset, e.g., officecomputer.
Substitute “strongpassword” with a personal password.

Access config.xml within the folder, affirm saved settings and proper GPU detection.

Activate the miner software. Expected output appears similar.

I've also accessed the mining pool web portal. Payment requests align with Grin's address-less nature—direct works to an email or IP.

Receive a Mining Pool Payout

Locate your dashboard, supply the password, activate email payout. A file arrives via email—apply the wallet for next steps

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

cmd: transaction.tx.response-factorization

info

In the wallet.

Proceed to the dashboard, reenter the password, seek transaction finalization, then upload your transaction.tx.response. Await confirmation, which wallet command accuracy provides.

Facing mining hitches? Consider possible solutions.

General Troubleshooting

Insufficient virtual memory could hinder you. Raised requirements involve 16GB per Vega GPU, amendable through: Control Panel -> System, adjust via Advanced system settings. Opt for a custom size, delineate for both boxes, proceed with set then ok.

How much GRIN will I earn per day?

To figure this out, you would go to https://www.coincalculators.io/coin.aspx?crypto=grin-mining-calculator Keep an eye on stale or rejected shares when mining. A high number of stale shares might mean you need a server that's closer to your location. For rejected shares, consider reducing the miner's intensity if it's possible.

Use their calculator to get a ballpark idea of your earnings. Remember, it's just an estimate, so the actual payout could be somewhat more or less than what the calculator indicates.

Most entries align accurately already, requiring only minor adjustments on your part.

Hash rate: Enter the cumulative speed, measured in megahashes per second, for all your mining computers. This figure corresponds to 'total speed' in your mining software. Sum up the speeds from all the machines involved in mining Grin.

Power: Input the total wattage that your mining setup consumes. Some mining apps might provide this data. Alternatively, use specialized software or a kilowatt meter to get the exact power draw. Personally, I find using a kilowatt meter more reliable. Again, ensure you total up the power usage of all devices participating in Grin mining.

Electricity Cost: Insert your cost per kilowatt hour as stated by your electricity provider. I typically locate this info on my monthly statement or on their official website.

Pool fee: Enter the sum of the pool fee and the miner software development fee. For example, 0 + 2 = 2%

Hardware cost: Record the complete cost of all the equipment you've purchased.

In the accompanying image, you can swiftly view the currency and USD projections over designated time spans. Pay particular attention to the Profit column since it reflects the amount left after electricity expenses. I usually concentrate on the daily USD payout. By doing so, you can analyze various coins and swiftly determine which one yields the most returns for your mining rig. Don't forget to consider the coin's market cap as well. A low-cap coin might be highly profitable today and significantly less so tomorrow. For new and hyped coins, factor in both hype and inflation when deciding whether to sell immediately or hold.