How to Mine Litecoin: The Ultimate Guide to Litecoin Mining

A frequently updated list of each pool’s hashrates, as well as a hashrate api are available. If possible, please help the network by mining with a pool that doesn’t have a large part of the network hashrate. Miners do not need to register with the NiceHash platform for selling hash rates.

Pooling might not be among the oldest and most talked about pools out there, but their hash rates speak for themselves. It uses the PPS payment model and was founded back in 2014 by three engineers. Prohashing also takes it a step further by merging mining at the same time to further increase profits. They offer other detailed statistics such as mining efficiency, miners count, hash rate, etc.

Block

You can easily download the NiceHash mining software and start mining instantly. Litecoin mining can be expensive especially for solo miners. The rewards may be tempting as you do not have to share them with your fellow miners, but you have to bear the entire responsibility as well as pay for the expenses for mining.

• This is a relatively good rate because most of the other pools take 2%-3%.
• But the dagger was susceptible to pressure in shared memory hardware acceleration.
• The website utilizes PPS payment method with 4% fees on transactions.
• Different advantages incorporate pay-per-share and pooled mining pool.

It should be used as a reference only, as actual revenue may differ. This calculator uses the current network difficulty and default pool fees to estimate PPS mining revenue. CoinTronOn average, the platform charges a mining commission of 0.4%, the minimum payout is 0.1 ETH. The pool allows its users, for example, to mine Litecoin, and withdraw Dogecoin. Miners are required to pay a little service commission of 4% for share payments and 2% for PPLNS payments. Notwithstanding the way that viaBTC isn’t “100% free”, it is as yet a decent alternative for mining Litecoin, as the service pays 800 DOGE for each LTC mined.

Current Litecoin Hashrate Distribution

However, https://www.beaxy.com/ have to pay a maintenance fee of 2% for PPLNS and 4% for PPS. Goes back over a decade to 2010 when it was known as Bitcoin Pooled Mining Server with more than 1.25 million BTC mined to date. It’s the oldest currently publicly available, active mining pool, and enjoys an excellent reputation for stability and accuracy.

Below I’ll talk more about mining Litecoin in 2019, and the best Litecoin mining pools. F2pool is currently the second-biggest Litecoin pool by hashrate, controlling 56.5 TH/s of the blockchain. It also offers merged mining with Namecoin, Syscoin and Dogecoin. Called the “Discus Fish” mining pool, which is a nickname stemming from their Coinbase signature. As the website was in Chinese and had no official English name people decided to call it 七彩神仙鱼 , which was the nickname of one of the operators. Since then they’ve introduced the English interface option.

There is also prompt notification via email, SMS and WeChat, and best scrypt mining pool upon Hashrate thresholds that are set by the user. While this makes mining much faster, don’t just join the first mining pool you see. This is because the method used to allocate rewards varies, which then carries over to the final amount you’ll receive is dependent on the mining pool in question. Another important point in mining Litecoin is the upcoming halving. Reducing profits for finding a block to 12.5 coins can significantly affect miners. True, this will not happen if the LTC rate takes off to its previous positions.

• Yes, you can still make money by mining Litecoin, however doing so with a GPU is becoming increasingly difficult.
• There’s no “best” Litecoin mining pool, there’s only a best Litecoin mining pool for your needs.
• Similar to proportional, but instead of looking at the number of shares in the round, it looks at the last N shares, regardless of round boundaries.
• This tool can be used by both experienced and beginner users.

In addition to Litecoin, the mining pool Multipool supports several more cryptocurrencies with different algorithms , for example, Dogecoin. Payments are made GMT in Litecoin, there is no commission for withdrawing funds. With Multipool, you can mine Litecoin and Dogecoin at the same time, while maintaining a hashrate.

By doing so, Lee enhanced the Litecoin transaction speed, and now Litecoin is capable of facilitating payments around 4x as fast . The first coin that made use of the Scrypt algorithm is Litecoin. Every fork of Litecoin will also be based on the Scrypt algorithm. Another popular Scrypt-based coin – if not as popular as Litecoin – is Dogecoin. Anyone coin based on Scrypt will therefore require a lot of mining participants all of whom do a little bit of work. When a block is found, the reward is distributed among all workers proportionally to how many shares each of them has found.

The more participants in the pool, the higher its performance and speed, which means you will get LTC faster and more. Litecoin became available for mining on ViaBTC in 2017. Today you are going to need a pool for mining anyway.

How to choose a mining pool?

Similar to proportional, but instead of looking at the number of shares in the round, it looks at the last N shares, regardless of round boundaries. The list is sorted by the date the pool was announced –clicking a column header will change the sort method. Location – The geographical locations of the pool’s servers.

A reward is proportional to the number of shares that a miner holds. The service has a simple payment system with automatic and manual payments. Litecoinpool also features two-factor authentication that is great for protecting your account.

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