Start Mining with rieMiner

In this page, you will have all the instructions to start mining and earning Riecoins!

The official miner is outdated since years and really inefficient, so I will not even bother giving the link to it. The currently widely used miner is fastrie/xptMiner, which source can be found here↗️. But, it is also getting old. For executables, pool owners usually provide some.

So, I am working on a more modern miner, rieMiner. It does not offer a performance improvement over fastrie, but has a much better and more modern code, which makes miner improvements and evolution easier. It also supports natively solo mining and some other features (notably, a Benchmark Mode), which fastrie does not. The miner has so far earned good feedbacks, should already be usable wihtout encountering any issue, and will likely eventually replace the older xptMiner.

Mining/blockchain introduction

Maybe it is a good idea to explain mining in a simplified way. The Riecoin network are computers that are constantly solving a set problem, which is very hard, with a difficulty set such that regularly, someone in the network eventually finds a solution to this problem. We also say that this person solved a block. This makes Riecoin a Proof Of Work (POW) cryptocurrency. This person receives a reward for finding that solution (currently, 25 RIC for Riecoin).

In Riecoin, that problem is : finding a prime constellation of length 6 of a certain size, and that size is the difficulty. A prime constellation of length 6 is a 6-tuple (n, n + 4, n + 6, n + 10, n + 12, n + 16) such that all 6 numbers are prime. The difficulty (i. e. number of digits of n, in base 2) is adjusted such that one block is found every 150 s (2 min 30 s) by someone in the network. This problem is particularly CPU friendly, as there is no known optimized algorithm for GPUs and ASICs for now: everyone owning a computer can mine Riecoins, and the mining power is not centralized in hands of people that can afford powerful ASICs.

By comparison, the Bitcoin's problem is: find a string s such that the hash sha256(sha256(s)) is less than a set value (or, to make it concrete but not rigourous, that starts with a certain number of zeros). The more the difficulty, the smaller the hash must be (the more zeros there mist be in the hash string).

A newly found solution is then broadcasted through the Riecoin Network and added in the blockchain, containing every found and accepted solution since the start of the network.

Adding transactions will influence the problem a bit, such that the solution (block) will "contain" them in some way it, which is a proof that coins were spent or received: this is how transactions are confirmed and explains how we use proof of work to make payments possible. And so, this also prevent for example spending multiple times something, as the transaction would be rejected, because it is known by looking in the blockchain that the funds were already spent.

The process of working to find a block is called mining.

Get and use rieMiner

You can get the miner source in the GitHub project↗️ and compile it fairly easily. The README.md, shown in the project page, is very complete and also serves as a manual. For Windows users, I propose a Win64 binary.

Now, you have the choice between mining in a pool, or solo mine.

Pooled mining

Finding a block (a 6-tuple of prime numbers) is not an easy task, you might have to mine during a very long time without finding anything. So, pools exist and consist in uniting the mining power of many miners. Then, when someone finds a block for the pool, the latter rewards all the miners that worked on the problem. How is the payout distributed? Instead of finding a complete prime constellation of length 6, a miner will instead submit to a pool a 6-tuple, in which only 4 numbers are prime: this is much easier to find. Such partial solution is called a share, and the pools rewards workers according to how many shares were submitted.

There are currently three Riecoin pools, you can try to test them and choose the one that you like the more:

Once you have chosen your pool and created an account there, make sure that you have an username, a worker name and its password, the pool mining URL and port. Then, you can start rieMiner.

For example, the URL for XPoolX is mining.xpoolx.com and his port is 5000. These are always clearly given in the pool website.

If you use the rieMiner assistant (which appears when you start it for the first time), answer "pool" for the first question, the others ones are trivial once you got all the information in the previous paragraph. Also specify how many threads you will use. If you typed something wrong, delete the rieMiner.conf file and retype your informations.

You can also edit the rieMiner.conf yourself, read the README.md in the project page.

Once you configured rieMiner, you can start earning Riecoins right now! Monitor the pool website to see your earnings, and do not forget to set things there, like the payout address and other auto payout options. rieMiner also gives you an estimation of how many RIC per day you will earn. Happy Mining :D !

Solo mining

If you have a powerful CPU, or many unused computers, solo mining can be a viable solution.

In order to do so, you have to use and configure Riecoin-Qt 0.10.2 or 0.16.3 (rieMiner works very fine for both). If you do not have Riecoin-Qt currently, read this.

Once Riecoin Core is ready, open your riecoin.conf (not to be confused with the rieMiner.conf) file and add the following lines in it to allow solo mining requests (restart the wallet if it is already started).

rpcuser=(username)
rpcpassword=(password)
rpcport=28332
port=28333
rpcallowip=127.0.0.1
server=1
daemon=1

You have to choose an username and its password for rpcuser and rpcpassword.

Now, you can start solo mining. If you use the rieMiner assistant (which appears when you start it for the first time), answer "solo" for the first question, the others ones should be trivial. Also specify how many threads you will use. If you typed something wrong, delete the rieMiner.conf file and retype your informations.

You can also edit the rieMiner.conf yourself, read the README.md in the project page.

Once you configured rieMiner, you can start earning Riecoins right now! When you find blocks, the reward is directly sent to the address specified to the assistant (or in the rieMiner.conf). rieMiner also gives you an estimation of how much time you will need to find a block. Happy Mining :D !

Profitability calculator

I also provide a profitability calculator.