Thanks to the massive implementation of ASICS, cryptocurrency mining is getting more centralized by the day. Today, only few popular algos remain free from ASIC miners with Equihash being one of them.
This issue is discussed a lot and eventually a team of programmers have decided to create an algo that would be easier to mine with a CPU/GPU than with an ASIC. This is how Ravencoin was born and launched January 3rd 2018.
It relies on its innovative anti-ASIC X16R algo, its active community and an open-source code that makes it possible for the community to contribute to the project.
What Makes Ravencoin ASIC-Resistant?
Ravencoin is basically an enhanced version of Dash. It uses a modified version of the X15 algo that allows it to be ASIC-resistant.
Back in the day, it was thought that Dash was immune to ASIC mining too. The X11 algo is in fact an intricate chain of hashing algorithms (such as cubehash, shabal, echo, blake, sha512, etc), making it impossible for a traditional ASIC to mine X11. That being said, some dudes in China have managed to create a multi-algo system that was tailored to mine X11, thus creating the first Dash ASIC.
Ravencoin developers have studied the case of Dash and have managed to find the weak spot of the X11 algo, which is in the fixed order of the hashing algorithms. This led them to develop the X16R that features a randomized chain of hashing algos. Because of that, the X16R is now easier to mine with a GPU/CPU than with an ASIC:
The hashing algorithms are the same proven algorithms used in X15 + SHA512, but the ordering is changed based on the hash of the previous block. This reordering does not make an ASIC impossible to build, but it does require that the ASIC adapts to additional input, which is more easily accomplished by a CPU or GPU.Ravencoin
You can read the whitepaper to have a better understanding on how exactly that works.
Best Mining Hardware for Ravencoin
How to Mine Ravencoin (RVN) with GPU / CPU
The team tries to be as transparent as possible, which is why they’ve decided to avoid launching an ICO. The coin can be mined either solo or in pools, though solo mining is no longer recommended. In brief, anyone can start mining the coin anytime they want. Let me show you how to get started:
How to create a Ravencoin (RVN) wallet
- Exchange wallet, good to have if for trading/selling etc.., create an account here: Binance
- Download latest wallet for windows, mac or linux https://github.com/RavenProject/Ravencoin/releases/
- Extract archive contents and run “raven-qt.exe” and wait for full sync
- Once synced go to “File” -> “Receiving Addresses“, if there is no address then click “New” and create one
- Copy the address, we will use it later
Here are the results of my tests with AMD and NVidia GPUs:
How to Mine Ravencoin with AMD GPU
Drivers (latest): https://support.amd.com/en-us/download/desktop?os=Windows%2010%20-%2064
First of all you will have to download sgminer for x16r algo, below you can find precompiled and default versions 🙂
VERY IMPORTANT: Do note that my AMD tests was made using blockchain cumpute drivers and modded bios, i have seen slightly better performances with default BIOS and clocks using the same settings.
How to Mine Ravencoin with Nvidia GPU
Again you will have to download sgminer for x16r algo, below you can find precompiled and default versions 🙂
Tests say that nevermore/0.1 performs with 20% better, i recommend to try them both 🙂 My benchmarks are made with ccminer/enemy-1.03 only. Don’t forget to play with intesity.. try with 19,20 and 21. 🙂
I will update the hashrates very often.
GTX 1050 Ti 4GB
Intel i7 4790K
- Hashrate: 140 Kh/s
- Threads 6
Follow the project here:
Let me know your hashrate results, join my Discord server https://discord.gg/kCqTmAB and send me a message 🙂
Ravencoin seems quite an interesting mining option. I wouldn’t configure all of my rigs to mining it, though I’m definitely dedicating some hashing power to it. I hope you’ve found this guide useful.
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Thank you for reading. As always, your comments, suggestions and questions are welcome.
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