Electroneum can be mined with a computer, similarly to how it can be mined with a mobile phone.
In this article, we’ll take a look at how you can mine Electroneum with your computer. Although you won’t be getting rich by mining with an ordinary computer CPU (given the current total hash rate and mining difficulty), it’s still a good exercise to get your feet wet with cryptocurrency mining.
This article will focus on CPU (Central Processing Unit) mining, which can be performed using any computer. GPU (Graphical Processing Unit) mining can be performed with computers that have graphics cards.
ALSO READ: What is Electroneum?
Using the Beginner’s Pool Mining Software
I’ve you’ve never mined Electroneum before (or more generally, a CryptoNote-based coin), you’ll be better off running the beginner’s miner created by the Electroneum team.
It’s as easy as downloading the software, configuring a few settings, inserting wallet keys, and pressing Start Mining.
Visit Electroneum’s downloads page and download the Beginner’s Pool Mining Software at the top of the page (this software is currently available only for Windows machines, so if you run a Mac or Linux machine, you’ll need to download other pool software).
Note: Your antivirus might prevent you from downloading the software, primarily due to the mining software being fairly new. It is perfectly safe to download. If Google Chrome prevents you from downloading software, click on the Menu icon in the top right, then Downloads. Locate the file in the list of downloads and select Keep Harmful File. Follow the prompts.
Installing the Miner
Open the folder containing the downloaded installer file and double-click to run it.
You’ll now be presented with the Electroneum install screen.
Click on Next, and then on I Agree to show that you agree to the terms.
If you want to control the directory in which it installs, you can specify it now. Click Next to confirm the directory, and finally, click Install to start installing.
The software will install. Click on Finish to complete.
You’ll now find an icon on your desktop named electroneum poolminer. Double click to open it.
You’ll now be presented with the main screen of the miner.
At this point, you’ll need to create an offline paper wallet to which your computer will mine. Here’s a great tutorial on how to create one. Once you’ve created the wallet, keep it open in a separate window while we configure the miner.
From your paper wallet, copy the public wallet key and paste it into the field labeled Your ETN Wallet Address. Make sure to remove any spaces that might have been copied along.
Note that you can also mine to your online Electroneum wallet. The public address of this wallet is displayed on the right side of the screen once you’ve logged into the Wallet Manager.
Next, configure the following settings:
# of Threads
Select the number of cores your computer has. If you’re not sure, press and hold Ctrl, Alt, Delete together. Then click on Start Task Manager and move to the Performance tab. Count the number of graphs in the CPU Usage History group (or in Windows 8 or later, read the number after Cores).
This is the URL of the pool you are mining to. This URL is usually in the following format:
where [URL] is replaced with the pool URL and [port] is replaced with a specific port number (typically 4 digits long).
You can find an extensive lists of Electroneum list here, but as a start I recommend you use the EasyHash pool. Choose from the following two addresses based on your computer’s power:
- stratum+tcp://etn.easyhash.io:3630 (for low to mid-range CPUs)
- stratum+tcp://etn.easyhash.io:3631 (for higher-end CPUs)
Make sure you copy the exact address as it is displayed.
Now press Start Mining.
And that’s it! You should now be mining. The program will show progress in the Miner output area.
You’ll also see your Hash Rate (the number of hashes your computer submits per second) as well as Total Shares, which is a count of the contributions your computer has made to the pool.
As you can see, my computer is mining at 33.07 hashes per second (which is quite slow according to current standards) and has submitted 4 shares.
You will be paid in ETN relative to the contributions your computer has made. The most important parameter to focus on here is your hash rate. Play around with the variables above to maximize this rate, and you should see a slight increase in your payments.
A decent hash rate to have is around 200 H/s. You should be able to achieve this with a multi-core i7 processor.
Difficulty and Total Hash Rate
The number of coins you earn at any given time is also inversely related to the following two network parameters (updated after every block):
- Difficulty – a measure of how hard it is to mine a block. As more miners join in, the difficulty is increased automatically to make sure that the network mines an average of 1 block per minute, and no more. As more miners stop mining, the difficulty will decrease again. A lower difficulty means you will mine faster.
- Total hash rate – the combined hash rate of all miners around the world. A lower total hash rate means you will mine faster.
Checking Your Earnings
You can typically check your earnings on your specific pool’s website.
If you’re using EasyHash, you can check your earnings at this address.
Visit the site of the pool you are using and copy your public wallet address into the field saying Your Stats and Payment History. You’ll see a breakdown of your mining history on this screen.
The Pending Balance is the number of coins you have mined, but which have not been paid out. Once the coins reach a certain number of coins (10 ETN at the moment, I believe), the coins will be paid out to your wallet and will transfer to the Total Paid section.