Over the past year Litecoin has solidified its place alongside Bitcoin as a viable digital currency. If you’re brand new to Litecoin and don’t yet have a Litecoin wallet I’bitcoin mining software radeon suggest checking out our guide to Getting Started With Litecoin.
It provides an overview of Litecoin and a guide to setting up a wallet. If you want to get started as quickly as possible with mining then skip ahead to the Installing GUI Miner Scrypt section. Litecoin mining is the process of using your computer’s resources in order to help run the Litecoin network. Like most cryptocurrencies, Litecoin is initially distributed through block rewards, where miner’s get a certain number of Litecoins by solving a certain amount of cryptographic work. Originally mining could be done individually, referred to as solo mining. However, over time it became too difficult to do individually as the probability of finding a block solo mining became very low. This led groups of miners to develop what is referred to as pool mining.
Today nearly all miners use pool mining, where they mine in groups resulting in steadier payouts. The original Bitcoin client included a CPU miner that beginners could use to solo mine. GPUs offered much faster speeds than CPUs. Litecoin’s original design was intended to prevent GPU mining and did so by using the memory intensive Scrypt hashing algorithm as opposed to the SHA-256 algorithm used by Bitcoin. Eventually mining programs were developed for GPU mining Litecoin, though the difference between CPU mining and GPU mining remained smaller with Litecoin than it had been with Bitcoin. However, a recent rewrite of some of the software involved with NVIDIA mining has lessened the gap. While Radeon cards still offer higher hash rates, NVIDIA cards are generally easier to tune.
If you’re looking to build a fast, high end mining rig then Radeon is still the way to go. This tutorial covers two mining programs. CUDA Miner is a command line program, meaning you have to use the command line in windows to run it. GUIMiner Scypt has a graphical user interface that runs CUDA Miner for you, which is easier for many people. I’ll be covering GUI Miner Scrypt first, though CUDA Miner is covered later.
If you’re comfortable with the windows command line I suggest you use CUDA Miner. GUI Miner Scrypt currently does not output your hash rate, or mining speed, due to a small programming issue. Thus you’ll get more feedback, and it will be easier to debug, if you use CUDA Miner. The latest version of CUDA Miner is also considerably faster than the latest version of GUI Miner Scrypt. You’ll need to download a couple of things in order to start mining Litecoin with your Nvidia GPU. For this portion of the tutorial we’ll be focusing on GUIMiner Scrypt, though you’ll need the same programs for CUDA Miner.
In order for GUIMiner Scrypt to function correctly you’ll need to update your drivers directly from NVIDIA. If you’re looking to build CUDA Miner from source you’ll need the developer’s toolkit listed below. Download GUIMiner Scrypt From Mega V0. Once you’ve downloaded GUI Miner Scrypt you’ll have to set up an account at a mining pool.
We’ll also be using their mining proxy program, which makes it a bit easier to setup your mining program. Make sure to record you login credentials or choose something you can easily remember. You’ll need them to manage your account and to receive the Litecoin that you mine. You can setup multiple works for multiple miners, but for this tutorial you’ll just need one. You’ll also need to download their proxy program, which makes setup a bit easier and can make mining slightly more reliable and efficient for you. First off go ahead and double click on stratum_proxy. Once the proxy is up and running then you can open up GUI Miner Scrypt.