One of the popular crypto assets is Dogecoin, but how to mining Dogecoin? Although Dogecoin was created just as a joke, in fact, this crypto asset is often in the spotlight of crypto enthusiasts.
When Elon Musk wanted to take Dogecoin to the moon, Dogecoin skyrocketed to become one of the favorite crypto assets. Dogecoin mining is a process to mine Dogecoin, like Bitcoin, a miner will get a coin reward for his efforts.
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- 1 Dogecoin mining explained
- 2 How Dogecoin mining works
- 3 How to do dogecoin mining
- 4 Dogecoin mining equipment
- 5 Is dogecoin mining profitable in 2021?
- 6 Dogecoin cloud mining
- 7 How to Dogecoin mining pool
- 8 Dogecoin mining app download
- 9 Mining dogecoin vs buying
- 10 Final thought
Dogecoin mining explained
Basically, Dogecoin mining has a literal meaning of mining Dogecoin digital coins. While someone that performs mining activities is called a miner.
In the mining activity, a miner looking for and collects crypto digital currencies, namely Dogecoin. In this mining process, a miner uses a set of computers to solve complex mathematical problems.
Interestingly, this mining process is carried out simultaneously by many people in the world. So mining Dogecoin seems to be a competition to get rewards using sophisticated mining equipment at high speed.
Dogecoin mining uses the Scrypt algorithm. Unlike Bitcoin, which uses SHA-256. In theory, the Scrypt algorithm is easier to crack than SHA-256. This makes Doge mining relatively more energy-efficient compare to Bitcoin, and anyone can mine.
How Dogecoin mining works
Dogecoin mining is a mathematical problem-solving process. When someone transfers Doge to another user, it requires confirmation from the miner.
Dogecoin miners who successfully solve these complex math problems will be rewarded. Later the transaction will be recorded in a transaction block that has just been confirmed to the rest of the blockchain. Most crypto mining uses this method.
However, there are some of the things that make Dogecoin mining different are as follows.
- Algorithm. Every crypto asset has rules for mining new currencies. Otherwise called mining or hashing algorithm. Algorithm in Doge is the Scrypt algorithm.
- Block Time. This is the average duration of time for a new block of transactions to be checked and added to the blockchain. Dogecoin block time is 1 minute.
- Difficulty. The mining process has a difficulty level for each new currency block. Mining difficulty depends on how many miners there are. The difficulty is also adjusted with the coin protocol to ensure block times remain the same.
- Rewards. This is the number of new crypto assets awarded to miners from each new block. Dogecoin block reward is 10,000.00 DOGE.
How to do dogecoin mining
In the process, the mining participants consist of individuals and mining companies. Popular terms are solo mining and pool mining.
Solo mining is mining privately using individual tools and software. In general, solo mining has the disadvantage of getting a smaller reward. This relates to the difficulty of mining, which has to compete with big miners or pool miners.
To do solo mining you need to download Dogecoin core from the official Dogecoin website. This wallet has the same features as other crypto asset wallets.
Install the software then go to the Settings menu and Encrypt Wallet for security. You need patience because usually, the synchronization process with the Dogecoin network takes a long time. Where later wallet core will download all existing blocks, directly to your CPU.
The easiest way for beginners is to join a mining pool, this will provide more power so that it will provide greater opportunities to get rewards.
You can join a mining pool, one of which is Aikapool. In pool mining, you do not need to download cores that require large storage space.
You can directly register to the pool, then how to mine Dogecoin by downloading CPU mining software multi-version 1.3.1 windows 64 bit on Github.
What is a Dogecoin mining contract?
Dogecoin mining contract refers to the user agreement in the mining pool. Where every time a pool containing a group of miners is able to solve mathematical problems in the transaction process. They will get a reward. The reward will be divided equally among all mining pool members.
Dogecoin mining equipment
Before start mining Dogecoin, you need equipment, some of which need to be prepared are:
- PC with Windows, OS X, or Linux operating system.
- Fast and stable internet connection.
- Wallet to store Dogecoin. To do Dogecoin mining, you need a full wallet called Dogecoin Core.
Next, you also need to prepare some hardware, including:
- CPU. you can mine using your computer’s CPU. However, the risk is that the computer will overheat which can later cause damage.
- GPUs. this is a graphics card that works to improve computer graphics but can also be used to mine Dogecoin. You can choose GPU like:
- SAPPHIRE Pulse Radeon RX 580 (426.98 US dollars
- Nvidia GeForce GTX (579.99 US dollars)
- ASUS RX Vega 64 (944.90 US dollars).
- A Scrypt ASIC Miner. The device is programmed to mine crypto-based currencies such as Litecoin and Dogecoin. ASIC miners are very powerful. Here are several options of devices namely:
- Terminator Innosilicon A2 (US$ 760)
- Bitmain Antminer L3 (US$ 1,649)
- Scrypt Miner BW L21 (US$ 7,700).
Dogecoin mining electricity
The electricity consumption of mining Dogecoin is also an important concern for miners before starting to join the mining process.
This will pay attention to the number of electricity costs per KWH, and also the electricity consumption of the devices used. Meanwhile, devices also contribute to the results, because each device provides a different hash rate. The higher the hash rate, the better for mining.
Dogecoin mining calculator
How to estimate the amount of reward and electricity consumption. You can use the Dogecoin mining calculator. One site that provides a Dogecoin mining calculator is Coinwarz.
The Dogecoin mining calculator only helps to estimate your profit against electricity costs and costs in the pool. The actual results may differ as they are affected by the level of difficulty and competition.
You only need to fill in the hash rate, power consumption, electricity price, and mining pool fees. Then click calculate mining profit. How to find out the hash rate and power consumption, look at your miner device.
Is dogecoin mining profitable in 2021?
Mining Dogecoin is still promising in 2021. Dogecoin mining results are also affected by price. In 2021 the price of Dogecoin had jumped by more than 700%, the price of Doge touched the price level of $0.6 in July 2021.
It also deals with Dogecoin transactions, according to Bitinforcharts.com. The number of 100 biggest transactions at the time of writing was up 37.87% in total in the last 24 hours.
The number of transactions increases, providing more math problems for miners to solve. It will increase the chances to get rewards for miners.
Dogecoin cloud mining
Cloud mining is renting a computer from someone else to mine Dogecoin. This is simpler because there is no need to install various kinds of software. Just pay the rental fee, and you will get results from mining activities.
An example of a cloud mining service is Nice Hash.
The advantage of cloud mining is, getting regular rewards with an easy installation process. The risk is that cryptocurrencies like Dogecoin tend to fluctuate drastically. While rental fees remain high. There is also a risk of fraud when the cloud mining manager runs off with your Dogecoin.
How to Dogecoin mining pool
In general, the steps for mining pools are as follows:
- Go to the official mining pool website for example Aikapool, download the software.
- After downloading, extract the file or unzip it then place it in the desired folder.
- Next right click on the extracted file and run as administrator and open the file. If there is a problem it may be necessary to turn off the firewall or antivirus that uses.
- Then click continue, which will open the mining program software options.
- You choose the software that suits your hardware, if you use GPU choose software for GPU, if you use CPU, choose software for CPU. If flagged as a virus you must give permission through the antivirus you use, or temporarily turn it off.
- Make sure you download the appropriate version for your operating system, whether it’s for Windows, Linux, or Mac.
- Once the download is complete, you need to extract the files and then return them to the mining app. Click on the folder icon and look for the file that matches your OS and GPU or CPU.
- When the mining software is set up, you will find a space for the Dogecoin wallet address, copy and paste the Doge wallet address where the mining reward will be sent to that address.
- After everything is set you can start mining by clicking the start button, you should see your mining status at this stage.
If you don’t find the mining status it may require troubleshooting, whether it’s permissions on your PC or other troubles such as a version that is not compatible with the PC. etc.
Dogecoin mining app download
Mining app is software that can link with Dogecoin to power miners’ computing power to earn rewards. This software does not see the type of miner you are using, no matter what.
There are several sites that provide mining software, but each site may not provide software for all types of operating systems. This needs to be a concern when downloading mining software.
Dogecoin mining app for pc
If you use the Windows operating system, Easyminer provides mining software for Windows. This software is suitable for beginners. It is recommended that you download the software through the official site to avoid hacking.
For ASIC miner devices, you can download CGMiner mining software. And more software CudaMiner compatible with Nvidia GPUs and ASICs), while for CPUs there are software options from, CPUMiner, and the end, MultiMiner (best for ASICs).
Mining Doge in-app iPhone
We didn’t find any secure Dogecoin mining software on the App store, although in our search we found software designed to mine crypto on the App store, from user experience, it is unsafe software.
Dogecoin mining for android
We found one Dogecoin mining app using Android that is suitable for beginners and it might be fun to give it a try. The App is Coin Miner by developerDotorisoft. It’s closer as a game, to mine ancient coins.
However, we didn’t find out if this is for mining Doge or just a game for fun because one of the users didn’t find a way to withdraw coins.
Another application is Dogecoin Mining, this application gets a user rating of 3.7. And in the details is to mine Doge, not just a simulation of mining software. More than 10 thousand users have downloaded or tried this application. Download in play store.
Mining dogecoin vs buying
Mining Doge or buying Doge which is better? If you buy Doge, you will get a profit if the price of Doge goes up, if the price goes down, then waiting for recovery sometimes doesn’t happen.
While mining, it will work full time using electricity consumption. It’s possible to be rewarded for the whole day.
Mining Dogecoin is considered more profitable than buying Dogecoin. In addition, if the price is bullish, it will have an impact on miners.
Dogecoin mining 2021 still gives hope in the midst of a pandemic that is sweeping the world. However, it is possible that miners in several regions of Europe are facing an energy crisis that has the potential to cause power outages.
Note: This article is for informational purposes only and does not constitute investment advice or offer, each investor bears their own risk.
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