How to mine Sumokoin

in cryptocurrency •  2 years ago  (edited)

Sumokoin mine.png

What is a Sumokoin?

Sumokoin is forked from the source code of Monero cryptocurreny, one of the most innovative digital coins which is well-known for security, privacy, untraceability and active development, therefore, naturally inheriting all of those great features, yet without the burden of its past. It also one of a few rare cryptocurrencies with true fungibility - the feature makes digital currency act like physical cash i.e. no other people can find where the money comes from and how many have been transferred. Created with high level of privacy in mind, setting Ring Confidential Transactions (RingCT) with minimum ringsize (mixin) of 12 to conceal sources/amounts transferred and make it high resistance to blockchain-analysis attacks. Besides, Sumokoin utilizes the power of a distributed peer-to-peer consensus network, every transaction is cryptographically secured. Individual accounts have a 26 word mnemonic seed displayed when created, which can be written down to back up the account and account files are encrypted with a passphrase to ensure they are worthless if stolen.

How to mine Sumokoin?

Sumokoin is a Cryptonote algorithm based cryptocurrency, it relies on Ring Signatures in order to provide a certain degree of privacy when making a transaction. Monero is a Proof of Work cryptocurrency that can be miner with computational power from a CPU or GPU. There are currently no ASICs for Monero, which means that anyone with a computer can mine it.

The first thing you need to think about is if you are going to mine solo or on a pool. Mining on a pool usually comes with a fee but also has it's advantages. Users that don't have enough computational power may have to wait long periods of time before getting a reward, in a pool users pull their efforts together in order to reduce variance and have a steady flow of income. Users that have enough hardware or simply want to mine solo can also benefit from solo pools which function in the same way as normal solo mining, but don't require users to run a full node or store the entire blockchain. We are going to use MoneroHash for this guide, but you can use any pool you like.

Sumokoin CPU Mining?

1. For this toturial, I will show you how to use CPUMiner(forked by LucasJones & Wolf). Get the mining software here: https://bitcointalk.org/index.php?topic=632724
or

Win64 binaries exist but require AES-NI. How do you know if you have it? If the binary crashes, you don't. They're here:https://ottrbutt.com/cpuminer-multi/cpuminer-multi-wolf-05-29-2014.zip

  1. Extract the .zip file, I prefer to extract it on my Windows drive C: and rename the folder to "Sumokoin miner".

  2. Open command promt

  3. Set path to C:\Sumokoin Miner> using change directory command "cd". Example, "cd ../.." press ENTER "cd Sumokoin Miner" press ENTER.

  4. Choose and joined Sumokoin official mining "pool.sumokoin.com" or sumo.sumominer.com mining pool by @billaue. For this guide I use pool.sumokoin.com

  5. Enter the following command without a quote "minerd.exe -a cryptonight -o stratum+tcp://pool.sumokoin.com:3333 -u Sumoo2E1zkcVFjfs1aGTxrR82UxfcyTsJWA7BwviiW4NYDBk7Wx5j8T8m2doLtyRSmGdpNtaWFVaDEjJNt8jwZs4FgHSzR5dTfr -p pass" and hit ENTER

Note: change my wallet address with your Sumokoin wallet address.

How to get Sumokoin wallet address?

sumokoin wallet.png
You can download a GUI Wallet, current is version v0.0.1-BETA 1.1 or Binary wallet version: v0.1.2.0 "Hokkaido". GUI wallet are available in Windows both 32 and 64 bit installer and Mac OS X, 64 bit. While Binary wallet is available in both Windows, Linux, Mac OS X, FreeBSD, and Blockchain Bootstrap.

Checking Mining progress

Mining Progress.png

SumipCVF5UQVFjfs1aGTxrR82UxfcyTsJWA7BwviiW4NYDBk7Wx5j8T8m2doLtyRSmGdpNtaWFVaDEjJNt8jwZs4FgHSzQ9K8dMPfFkNj9YwvT

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helpful post, thanks for that ! I am @minnowhelp and try to curate manually for me undervalued posts for each category I post a top list. For the category cryptocurrency I choosed your post for upvote and resteem ! Congrats and all the best !

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This post has received a 1.04 % upvote from @drotto thanks to: @banjo.

I was thinking of jumping over to mine sumokoin. I'm mining ubiq at the moment.

Many thanks for your detailed work, just starting to learn crypto mining and this really helps a lot.