Join 91,545 users already on read.cash

Introducing My New Vertcoin P2Pool

0 116 exc
Avatar for ASCiiDiTY
Written by   12
1 year ago (Last updated: 10 months ago)

So I decided to setup a P2Pool node for Vertcoin: ACiDPOOL.XYZ:9171

What is Vertcoin P2Pool?

P2Pool is a decentralized Vertcoin mining pool that works by creating a peer-to-peer network of miner nodes.

P2Pool creates a new block chain in which the difficulty is adjusted so a new block is found every 30 seconds. The blocks that get into the P2Pool block chain (called the "share chain") are the same blocks that would get into the Bitcoin block chain, only they have a lower difficulty target. Whenever a peer announces a new share found (new block in the P2Pool block chain), it is received by the other peers, and the other peers verify that this block contains payouts for all the previous miners who found a share (and announced it) that made it into the P2Pool share chain. This continues until some peer finds a block that has a difficulty that meets the Vertcoin network's difficulty target. This peer announces this block to the Vertcoin network and miners who have submitted shares for this block are paid in the generation transaction, proportionally to how many shares they have found in the last while.

Decentralized payout pooling solves the problem of centralized mining pools degrading the decentralization of Vertcoin and avoids the risk of hard to detect theft by pool operators.

Miners are configured to connect to a P2Pool node that can be run locally, alongside the miner. P2Pool users must run a full Bitcoin node which serves the purpose of independently validating transactions and the Vertcoin blockchain. P2Pool also supports merged mining and several alternative blockchains.

P2Pool nodes work on a chain of shares similar to Vertcoin's blockchain. Each node works on a block that includes payouts to the previous shares' owners and the node itself, which can also result in a share if it meets P2Pool's difficulty.

About Acidpool.xyz:9171

To mine here you will need a graphics card with at least 2GB of vRAM. Simply go to http://acidpool.xyz:9171/, download the Verthash Miner from the sidebar, and also the setup .BAT file. If you need further help let me know in the comments.

We are looking for UK/EU miners, this is to keep pool efficiency high. We are one of the most efficient p2pools on the Vertcoin network right now.

There is a 1% node fee that will be used for the server, or donated to VTC projects.

Soon I will be writing a guide on how to set up your own Vertcoin P2Pool.

Edit: 12th of July 2021

This project is no more, we have upgrade to a centralised solution for efficiency and personal goals. You can visit the new site at http://acidpool.co.uk/.

Thanks for reading!

2
$ 0.14
$ 0.14 from @TheRandomRewarder
Sponsors of ASCiiDiTY
empty
empty
empty
Avatar for ASCiiDiTY
Written by   12
1 year ago (Last updated: 10 months ago)
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments