Ravencoin is a digital peer-to-peer network built to make asset transfer easier. RVN is one of the most popular tokens for mining, second only to Ethereum (ETH) and Ethereum Classic (ETC) in terms of the overall number of miners.
This cryptocurrency belongs to the Proof-of-Work consensus algorithm and has a hybrid algorithm, which uses the core and memory of the video card.
The coin aims to implement a blockchain that is optimized specifically for using the transfer of assets such as tokens from one owner to another.
In simple words, it is an ASIC stable coin with instant and secure transactions.
The advantage of Ravencoin is that it can increase the block size from 1 MB to X MB to enable additional transactions on the chain.
Step 1 – Get Ravencoin Digital Wallet Address (On Exchange or by installing Ravencoin Cold Wallet)
Step 2 – Download the mining software
Step 3 – Choose a mining pool
Step 4 – Start mining!
You can store the coin on the official cold wallet available for the following operating systems, such as:
You can download the wallet from Github
If you do not want to download and install cold wallets, then you can always use exchange wallets.
To do this, you must be registered on it, after which you can get a digital coin wallet.
If you have already assembled a mining farm and you have received a digital coin wallet, then you need to download the mining program and select a pool.
Personally, we recommend mining RVN on the 2Miners pool, since we’ve tried it ourselves and this pool has proved its stability and high profitability.
After you have chosen a pool that is convenient for you, your next step is to download the mining software (mining apps).
In order to mine the Ravencoin token, you need to download the miner.
You can take the titles in the list below into consideration:
Nvidia video cards are best suited for Ravencoin mining, and it is recommended to use cards from 1070 and newer.
AMD is also possible (although the profit will be a little less).
On October 26, 2021, the hard fork of the Firo cryptocurrency took place, as a result of which the mining algorithm changed from MTP to the new FiroPoW algorithm.
The FiroPoW algorithm is a modification of the ProgPoW algorithm. The same goes for KawPoW, which is used in RVN mining.
As a result, we have two algorithms - FiroPoW and KawPoW - which are derived from the ProgPoW algorithm.
They are very similar to each other, so the principles of overclocking are exactly the same.
Accordingly, and although this article is written about RVN mining, it can be successfully used to overclock cards for the FiroPoW algorithm for Firo mining.
The memory of modern video cards can manage mining two cryptocurrencies at once. However, they will compete with each other in memory and core usage, so the final speed will significantly depend on the intensity of each of these cards’ algorithms.
Note: Windows 10 is experiencing excessive VRAM consumption on all graphics cards. Dual mining is not possible with video cards with only 8 GB of memory, but it is possible when using Windows 7 or Linux-based mining operating systems like RaveOS.
In practice, in the context of the global dominance of Ethereum in terms of mining profitability over other cryptocurrencies, the use of the Dual mining mode in 2020-2021 did not lead to the opportunity to earn more on cards without mining protection.
For example, RTX 2070 Super graphics cards, when mining only one algorithm, can produce 40+ MH / s with a consumption of 93 W on Ethereum.
When mining Ravencoin, you can get, respectively, 21 MH / s with low consumption of 121 W or more than 26 MH / s with high consumption, that is, at the level of 200 W.
When using dual mining with different intensities, it is possible to get ETH speeds of 16.5 MH/s and RVN of 16.5 MH/s, while consuming up to 200 W of electricity.
This is just under 40 percent for Ethereum and just under 70 percent for RVN.
It is easy to calculate that over the past two years, mining of one Ethereum coin has been more profitable in the vast majority of cases, not to mention it also consumes much less energy.
As you could’ve noticed, RVN mining speed is in most cases half the ETH mining speed in mega hash.
The RTX 30xx series - like the 20xx cards - use very fast memory that can transfer huge amounts of information and uses very high frequencies.
In this case, the data bus becomes the bottleneck.
That is why cards with the same bus have very similar mining speeds. For example, these are 3060ti and 3070 or 2060S, 2070 and 2070S.
The short answer - yes.
Mining RVN cryptocurrency is already one of the most relevant options for mining something other than Ethereum today.
In light of the upcoming major updates, inspired by the desire of Ethereum developers to completely move away from GPU mining, Ravencoin mining can be considered as a very good alternative.
Especially taking into account its wide possibilities for selecting the desired energy efficiency of mining within one model.
Despite its undisputed attractiveness, the Ravencoin token has both pros and cons .
The advantages, first of all, are that it has been consistently in the top five most profitable coins for mining (on Nvidia) for a long time.
The disadvantages are that the hash rate on RVN depends on the miner.
And depending on the miners, the performance (profit) can vary up to ~ 20%.
Also, a heavy load on the card is another disadvantage to take into account, and if overclocked incorrectly, overheating can occur, which indicates another disadvantage - the complexity of the mining settings.
