What is VerusCoin?
VerusCoin is a cryptocurrency that uses a unique consensus algorithm called Proof of Power. Proof of Power combines 50% POW Proof of Work and 50% PoS Proof of stake algorithms. VerusCoin is resistant to 51% Blockchain network attacks witch makes it one of the best public blockchains secure to double-spend attacks.
VerusCoin was launched fairly there were No ICO, pre-mine, or founder and developer fees.
Verus uses a hash algorithm that uses zero-knowledge proof a mix of 50% mining 50% staking.
In cryptography, a zero-knowledge proof or zero-knowledge protocol is a method by which one party can prove to another party that they know a value x, without conveying any information apart from the fact that they know the value x
“VerusHash, a quantum secure hash algorithm that is near-equally mineable on both CPUs and GPUs.”
I have done a little testing with various CPUs and GPUs and found that VerusCoin favors CPUs for mining you can still mine with a GPU but it will be seriously limited to its full potential. For example, I tested mining VerusCoin with a Ryzen5 1600 CPU and a GTX 1080 8GB on my Ryzen 5 1600 CPU I managed to achieve around 14MH/s on my GPU I barely reached over 4MH/s.
If you have a GPU that is able to mine Ethereum (ETH) that you will make the most profit mining Ethereum with your GPU in this day in age CPU mining has become more scarce due to fast GPU’s and ASIC miners entering the market. In fact, CPU mining is still profitable, and it’s even more profitable if you’re smart with your power costs. Take for example Mining farms in China make use of the wet season and use hydropower for the most part of the mining season. It’s known that China hashing power drops in the dry season why the rain drys up. Miners that are in regions that get lots of nice weather can make use of cheap solar power but in the winter are not able to generate as much electricity from their solar panels as they do in the summer.
If you have never mined before VerusCoin is a great entry-level cryptocurrency that you can mine to get used to how mining works before investing into more expensive equipment such as GPUs for Ethereum mining. VerusCoin is also great for advanced miners that are already mining other cryptocurrencies and have a lot of spare CPU power and want something to do with it. By joining a mining pool you will learn how block rewards are shared between other miners in the mining pool that your mining in.
Sometimes a little luck is required to win greater block rewards my CPU is a Ryzen5 1600 in the first 24 hours. I set my CPU mining and within the first 24 hours of mining, I managed to find a block in the Miners Jackpots and earned a 1 VerusCoin for finding only that 1 block with my CPU. If you lucky you can find more blocks in the Miners Jackpots your rewards can soon add up using only a single CPU.
You can also use Hybrid Solo Mining (hybrid) that will switch between mining in a pool and mining solo so if you won the Miners Jackpots for a block your share would be a lot more for mining Hybrid.
Since VerusCoin is minable and can be staked the wallet I plan to use for staking and storing some VerusCoin is called Vidulum only allows you to stake VerusCoin when you have 100 VerusCoin’s I plan on mining around 100 VerusCoin’s and staking them for a higher reward.
Now that you know a little about VerusCoin let’s start mining in this guide, we will be mining in LuckPool. You don’t have to mine in LuckPool if you don’t want to there are other alternatives that we will list below. If you want to use Hellminer you will need to mine in LuckPool as it’s the only pool that it currently supports.
Before we start to mine you will need a VRSC wallet to store the coins that you mine.
STEP 1: CREATE A VRSC WALLET
There are a few different types of wallets to choose from to store your VRSC. We will list some of the wallets you can get below and explain some of their differences.
Get a Verus Wallet here: https://verus.io/wallet
You can run a native node using the official Verus Wallet but since it can take a long time to sync the full Verus blockchain we will use lite mode. Lite mode uses Electrum servers to connect you to the network that is hosting a Verus node using lite mode in Verus Wallet won’t need to do a full sync.
The safest type of wallet is the paper wallet you can check the block explorer to make sure your coins are being sent correctly to your paper wallet if that is the type of wallet you decide to go with. I will be using Vidulm to store my VerusCoin’s. Since I only have experience storing my VerusCoins using an offline paper wallet and not with the official wallet I will only list instructions on creating these 2 wallets but I will list other alternatives below.
- Verus Wallet
- Verus Mobile Wallet
- Offline paper wallet VerusCoin
(When creating an offline paper wallet do not do it online! download the paper wallet and run it offline directly from your computer don’t run it from the online site!.)
- CoinCollect (Mobile Only)
Creating a Vidulm Wallet
First, go to Vidulm click the login button to register an account go to create an account. Fill out your details a username you would like to use a secure password and also a secure pin code write your details down or keep them in a safe place so you can remember them for later.
Creating a paper Wallet
Use a paper wallet if you want to store your coins offline. This is a very safe method since the private key is only stored on a piece of paper. Follow the instructions closely for maximum security.
Go to https://paperwallet.verus.io/ and follow the checklist recommendations IMPORTANT! only create paper wallets create from an archive of paperwallet.verus.io you can download the archive version to your computer here.
When you download the paper wallet archive open it in a web browser while your wallet is being created move your mouse randomly or type randomly this will increase randomness.
Once your paper wallet is created print your wallet and fold it it’s very important to only share your public key with anyone your public key is the address you will receive funds to the private key known as WIF should be kept private. If your printing your wallet click on Copy WIF to Paper Wallet.
STEP 2: DECIDE WHAT MINING SOFTWARE YOU WANT TO USE
Verus Mining Software
There are a few different miners we can choose from when mining Verus. During the time I have been mining a little VerusCoin, I tested some of the most popular mining software to see what one give me the best hash rate mining VerusCoin with my CPU. I found that Hellminer gave me a Hashrate of 14MH/s, but nheqminer running the same CPU gave me 11 – 13.5MH/s using the Hellminer software get more hashing power from my CPU although nheqminer gained more shares per minute (SPM) in the mining pool than Hellminer.
3) ccminer I have not used ccminer much but there are various releases there are 3 versions one for CPU mining and the other two versions are for mining Verus with a GPU NVIDIA or AMD its not recommended to mine VerusCoin with a GPU for example a GTX 1080 8GB Can only gain 4MH/s mining VerusCoin compared with a Ryzen 5 1600 CPU that can mine VerusCoin at 14MH/s. The mining algorithm and the latest VerusHash 2.1 made FPGA miners unable to be used and brought back CPUs as the main choice for mining. GPUs are seriously handicapped over a fast processor when mining VerusCoin. It’s better to mine Ethereum ETH with your GPU if you have a GPU that can mine ETH it will fetch a lot more profit than mining VerusCoin with it and mine VerusCoin with your CPU.
You can find out what cryptocurrencies are more profitable to mine using WhatToMine.
ccminer CPU only (Linux)
sudo apt-get install libcurl4-openssl-dev libssl-dev libjansson-dev automake autotools-dev build-essential
git clone –single-branch -b ARM https://github.com/monkins1010/ccminer.git
chmod +x build.sh
chmod +x configure.sh
chmod +x autogen.sh
STEP 3: CHOOSE A MINING POOL
Verus Mining Pools
If we take a look at the stats of the most popular mining pools for VerusCoin we can see that luck pool is the most popular and well-established pool for mining VerusCoin. Mining a whopping 95.55GH/s accounting for most of the mining that is done on the VerusCoin blockchain. For this reason, I’m not going to go through every Verus Mining pool with you I will point you in the right direction and tell you to use LuckPool as it’s the best pool you can choose from mining VerusCoin.
Decide what mining what pool you want to use I will be using LuckPool when you have decided the important information you will need is The Stratum Host and The Port.
stratum address is the pool server address we will connect our mining software to. The port tells the pool what hardware we will be mining on. For example, port 3956 tells the luck pool that we are using a CPU to mine. If we are mining from a farm we would use port 3960 and if we were mining with a rig we would use port 3967. You can find the stratum information for the mining pool you choose by going to its website.
Once you have the information for the stratum server you will be using you can add it to your mining software config file.
We will list the most popular community Verus pools you can choose from.
STEP 4: EDIT MINING SOFTWARE CONFIG
How to run VerusCoin Mining Software & Edit config
When hellminer is extracted we need to edit some files open mine.bat in an editor if your using Linux open mine.sh
Inside mine.bat we can see a command that looks like this.
hellminer.exe -c stratum+tcp://eu.luckpool.net:3956#xnsub -u RRZwoAcm5qiKVYnc2CM2LARypRuNs14sTJ.Hash01 -p x –cpu 12
The first argument in the command tells our computer to run hellminer.exe the second argument -c tells hellminer what miner pool to connect with along with its port and region the third argument -u is important you need to swap out the address with your own VerusCoin address. -p tells the pool to use hybrid mining in this guide we will leave argument this blank –cpu tells hellminer how many threads to use while mining with your CPU.
Once you have edited your config file save it.
Now that your config file is saved it’s time to start mining VerusCoin with your CPU run mine.bat to start mining.
- nheqminer (Windows)
When nheqminer is extracted we need to edit some files open start.bat in an editor.
list your pool mining address your wallet and your worker’s name in start.bat and save it here’s an example of how the file start.bat should look.
Once you have saved your config details in start.bat it’s time to start mining run start.bat.
STEP 5: START MINER AND CHECK THAT YOUR WORKERS ARE ACTIVE
Best CPU hash rates
The results below are from some of the CPUs I have tested mining VerusCoin.
Ryzen 5 1600 – 14MH/s – Hellminer
Ryzen 7 2600X – 17MH/s – Hellminer
Ryzen Threadripper 38MH/s – Hellminer
AMD EYPC 40MH/s – Hellminer
The table below shows a huge list of expected VerusCoin mining CPU hashrate credits to Cryptoage for the CPU hash rate table.
My VerusCoin donation address: RRZwoAcm5qiKVYnc2CM2LARypRuNs14sTJ
If you want to help me mine by pointing your mining software to my address you can. Use Hellminer and run mine.exe my address is already in there as an example.
hellminer.exe -c stratum+tcp://eu.luckpool.net:3956#xnsub -u RRZwoAcm5qiKVYnc2CM2LARypRuNs14sTJ.Hash01 -p x –cpu 12
This guide is by no means telling you how to invest your money or what to mine. I will not be held responsible if you lose money. I’m not saying go out and blow all your money buying a ton of CPUs. I’m writing this guide to show you how you can use the CPUs you already have access to that you can mine VerusCoin with. This guide is not financial advice!.