PrimeCoin is one of the many cryptocurrencies derived from Satoshi Nakamoto’s Bitcoin. Primecoin works in much the same way, but has several unique features and is the first cryptocurrency in the world designed with scientific computing as its focus. The main difference is that the innovative prime proof-of-work in Primecoin does not just provide security and minting to the network. It also generates a special form of prime number chains. Primecoin allows faster processing of payment transactions, up to 10 times faster than the bitcoin network. If you want to start earning Primecoin, here are a few tips.
PrimeCoin mining is primarily done by CPU. This is because the process is light enough that GPUs and special equipment is not necessary. To get started, you just need the mining client. However, it will not generate anything until you give the command. Here’s the process.
First, go to Help. You then click on the Debug Window. This is the console where you will execute all commands to the Primecoin daemon. Type this command to start mining: setgeneratetrue-1. The number of cores is what you should put instead of -1. After that, type the following to see the status of generation: getmininginfo. If you want to stop mining, you can use: setgenerate false.ou are now generating. Transactions will appear in the Overview window. When you get paid for generating it will appear as an incoming transaction.
Moving Primecoin will require you to install the Primecoin wallet software on the target computer and drop wallet.dat into the install folder.
There are faster ways to mine. CPUs can be pretty slow, but a set of them can make mining easier. This is especially so when grouped with other miners. This guide will help you set-up a virtualized cloud web server step by step and use it for Primecoin mining.
The first step is to register an account with a cloud server provider. There are a lot out there so pick wisely. The next step is to actually set-up the server. Name the server and do the initial set-up. Install the requirements for the mining software and then download and install the mining software. Once done, run your miner and set-up the particulars of your mining process. This includes your Primecoin address and how many coins you’ll want to generate. You can even group cloud servers to mine together.
With CPU mining, you can still mine without using your own CPU. This way you won’t use up your resources, while getting the Primecoin that you want.