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How to Mine SCHO 2.0

Since the network hashrate and network difficulty already have a high value, it is not profitable to solo mine from the wallet anymore. Therefore, the following tutorial will explain how to mine on the official mining pool.

Two official mining pools

There are two official mining pools: Yiimp & Nomp. The following tutorials will use the Yiimp pool. ScholarshipCoin uses the same process than Litecoin to find a block. The miner has to verify about approximately 1MB worth of transactions to be able to find a block. Then to find a block the miner has to solve a numeric problem called the "proof of work" (POW). ScholarshipCoin uses the algorithm "Scrypt" to solve the POW numeric equation (block hash).

FACTS

Here are some basic technical specifications about ScholarshipCoin
  • Block time (seconds): 120
  • Difficulty time (minutes): 10
  • Block reward: 50
  • Maximum supply: 20000000

MINING WITH CPU

Different Architectures

Because there are several possible architectures for CPUs, the following tutorial proposes to use cpuminer-multi software from Tpruvot which can be used on AMD, Intel Core 2 and Intel Core i3 to i7.
  • Download the cpuminer software for Windows here and unzip the file.
  • If you are using an AMD architecture, edit the corresponding START-MINING-AMD.bat file - right click - "Edit"
  • If you are using an Intel Core 2 architecture, edit the corresponding START-MINING-CORE-2-QUAD.bat file - right click - "Edit"
  • If you are using an Intel Core i3 to i7 architecture, edit the corresponding START-MINING-i7.bat file - right click - "Edit"
  • Replace the text WALLETADDRESS by your actual wallet address, then save the file.
  • Start the .bat file by double clicking on it. You shall see a ms-dos window showing your actual hashrate.

Your hashrate on the mining pool

Naviguate to the wallet page of the mining pool. Type in your wallet address to the search bar and press enter or click on "Submit" button.
You shall see your hashrate displayed on the wallet page.

MINING WITH NVIDIA VIDEO CARDS

Different Architectures

There are two main categories of GPUs: AMD and Nvidia. The following tutorial will explain about how to mine with the Nvidia gpus with the miner software from Tpruvot called ccminer.
  • Download the ccminer software for Windows here and unzip the file.
  • Edit the ccminer.conf file - right click - "Edit"
  • Replace the text WALLETADDRESS by your actual wallet address, then save the file.
  • Start the ccminer-x64.exe file by double clicking on it. You shall see a ms-dos window showing your actual hashrate.

Your hashrate on the mining pool

Naviguate to the wallet page of the mining pool. Type in your wallet address to the search bar and press enter or click on "Submit" button.
You shall see your hashrate displayed on the wallet page.

RENT HARDWARE MINERS

There are two main companies offering the possibility of renting miners: NiceHash and MiningRigRentals (MRR).
NiceHash is the ideal for high rent hashrate to a reduced price. While MiningRigRentals is great for renting minimal hashrate possible. Both are great with their respective specifications.