Worldcoin has come a long way since its 2013 launch. Originally conceived as an altcoin based on the Litecoin pattern, Worldcoin aims to be an international currency that merchants and normal people use when buying online and offline.
The result is a coin that focuses on speed and security. Speed is assured by its use of the Scrypt algorithm. While Bitcoin uses SHA-256, Scrypt is a quicker and simpler option. Security, on the other hand, is ensured by wallet encryption so that hackers would not be able to easily breach a wallet’s security. Combined with additional encryption on Worldcoin servers, the altcoin becomes a good altcoin choice.
Basics of Mining with Worldcoin
Worldcoin mining is a lot easier process than the one used for Bitcoin mining. This can be mostly laid at the feet of the Scrypt algorithm that the altcoin uses. For those interested in building up their stash of Worldcoin, here’s a basic guide on mining.
There are three things you need to start mining. First is a Worldcoin wallet. Second is a computer for mining. Finally, there should be some basic knowledge on the mining process. The wallet is easy. Just download the WorldCoin-qt client from the main site and install it. Once installed, the first time you run the wallet hooks you up to the blockchain and downloads it. When this is done, go look at your wallet address. This is where your miner will send the Worldcoins that it mines.
You’ll also need a solid rig for your mining efforts. However, thanks to Scrypt, you won’t need a super strong computer to do so. Just a decent computer should be enough.
CPU or GPU mining
You can either mine WDC with the CPU of your PC or your GPU. GPU mining is better than CPU mining. However, CPU mining is a lot simpler. If you want to do CPU mining, you’ll need a third-party mining program. There are several available, so just pick one and download it. A lot of them are easy to install and run. Just follow the instructions and you should be ready.
GPU mining will require a bit more tweaking, though. Worldcoin mining software is also necessary, but there is a lot of modification needed. You’ll probably have to write up several .txt files to configure your GPU mining options. Check out the Worldcoin forums for additional help to get your mining efforts off the ground.