What is cryptocurrency mining?
Mining is the process of validating other people’s transactions with a computer and then adding them to the long, public list of all transactions known as the blockchain. In exchange, people get rewarded with cryptocurrency.
Anyone with a computer and an internet connection can become a miner. But before you get excited, it’s worth noting that mining is not always profitable. Depending on several factors, such as which cryptocurrency you’re mining, how fast your computer is, and the cost of electricity in your area, you may end up spending more on mining than you earn back in cryptocurrency.
Kryptofranc is not open for mining by every one, like Bitcoin is for example. We are at different times than Bitcoin was created, and a lot of threats have to be avoided, to get a sucessful Blockchain surviving on the long run. The main
reason is to avoid 51% attacks and predatory mining by powerful miners. We want to open Kryptofranc to mining progressively. Eventually, when KYF will be popular enough, we will let anyone mining and enjoy having other pools adding KYF mining to their list of coins... but not yet now.
Kryptofranc is using the POW (Proof of Work) algorythm. It is a stable sustainable way to insure the strenght of the blockchain, it is compatible with all the Bitcoin mining software and hardware
, in consequence it is the most widely supported mining algorithm.
All attempts to improve or change the original model from Satoshi Nakamoto ended up failing, mainly because all algorithms one day or another are becoming compatible with the ASIC hardware and it is a useless war against progress to think that an exotic algorithm will not be one day 'cracked'.
In order to control how the mining is done and insure a fair share of the mining efforts with the widest number of miners using all kind of hardware, we are using our own mining pool and our own mining software.
Right now, only CPU mining is allowed, which means that anyone can mine with laptop or a desktop regardless of their mining power.
We will release GPU mining soon. ASIC later.
to get approved. Without this step, your mining will not be working and your share of the mining reward will not be accounted.
We are carefully monitoring the pool. If we found someone trying to hack or do anything suspicous, we can block IP, or entire region of the world. Having a pool working is our top priority.
Mining with CPU.
We have modified CPUMiner Multi from Tpruvot that originally is hosted at Github here.
(do not download this one, this is given
for reference only).
Windows version of NC Pool CpuMinter Binaries
is located here: Download NC Pool CPUminer Binaries for Windows
Unix version of NC Pool CpuMinter Binaries
is located here: Download NC Pool CPUminer Binaries for Unix. .
For Unix it is advised to compile and run the CPUMiner from the source here: https://github.com/NicolasChoukroun/cpuminer-ncpool
Cpuminer NC Pool 1.3.9
1- be sure that the program is not blocked by your anti-virus. ALL mining software are blocked by anti-viruses, you need to white-list cpuminer.exe in your anti-virus software.
2- be sure that cpuminer.exe is authorized to pass through your firewall. Either authorize the software of authorize the port 3333.
cpuminer.exe -a sha256d -o stratum+tcp://pool.kryptofranc.net:3333 -u youraddresshere -p yourpasswordhere,c=KYF,stats
you need to replace this by an address from your wallet. You can get an address by going into the wallet's console, and type 'getnewaddress'. If you already done that, you can find your addresses in the menus Windows->Receiving Addresses. The first time you are mining, the pool will register your address, be sure to Label this address so that you do not forget it. This address is your login into the pool, only one address will work. You can change the address by contacting our support.
use any password that you want but do not use special characters, use only uppercase, lowercase and numbers. No spaces, comas etc... Your password is unique will be bind to the address, if someone steal your password, that would be useless since this password is linked to your mining address and so the coins mined will come to your wallet anyway.
once you have modified the run.bat file with your login/password, just click on the bat file and start mining.
-t 4: this limits the number of core of your CPU used for mining. If you remove this from the command line, the miner will run at max, with about %100 of your processors used. This is not advised if you are mining 24/7, it might overhead your CPU and even damage it. It is advised to use 50% of your cores, so that your computer can cool and run on the long term.
stats: send the stats to determine the hashrate
c=KYF is the crypto that you are mining. We will support more crypto soon.
Oui! Yes!: Your share is accepted and you will get a share of the coins mined with this block.
Boo, Bad :
Stratum recv line failed: the server do not accept your account. Either your address or your password are wrong.
Stratum connection failed: the server is not responding. Check the pool at http://pool.kryptofranc.net/site/mining
You can check how much you earn, see your statistics and all the accounting by using the online pool.
Replace your address or go to http://ncpool.net and click Wallet, enter your address there.
This will show in real time all the information available for your account.
Mining with GPU