MinerGate was the first pool to support merged mining of CryptoNote currencies. Now we are bringing you merged mining of Monero with DigitalNote and FantomCoin. In this article we are explaining why merged mining is one of the best ways to get profit from cryptocurrencies and give you some tips on how to start on MinerGate.
What is merged mining?
Merged mining is the process of mining two coins based on the same algorithm simultaneously. The best thing is that there is no decrease of hashrate for any of them, so you benefit from both without making any sacrifices.
Here is how it works. Every share sent by your miner is checked in the network of both currencies. It’s like being able to participate in two lotteries at the same time with one lottery ticket. Your chances to win in at least one of them are increased. The calculations are made on the main (parent) chain and the other coin’s chain (auxiliary) accepts them as valid.
MinerGate team loves coins that support merged mining and we are happy to make them available for you. It is great way for a currency to gain popularity and reach wider audience and for the miners to make more profit. It is also an environmentally friendly way to mine, as it contributes to more efficient energy consumption.
Merged mining of XMR + XDN/FCN on MinerGate
DigitalNote developers made a major update for the coin in late October, 2016, making merged mining with Monero possible. They also revived FantomCoin, the first CryptoNote coin to ever support merged mining, as they used it to explore the technology.
MinerGate was the first pool to proudly present our clients the new features. Hop on now if you haven’t joined yet!
Our GUI application is the easiest way to start merged mining of DigitalNote or FantomCoin with Monero. Just follow these steps:
- Download our GUI mining application
- Run it and go to the tab Miner
- Find Monero and choose the desired currency for merged mining in the right column. A new worker sign will appear next to the chosen coin and your Monero hashrate will stay the same.
Alternative supported miners
You are welcome to connect to MinerGate via supported open-source miners. Just choose the one that fits your hardware from the list and connect to MinerGate using the following addresses:
We made the process as easy as possible for you with our pre-set bat files. Just download the file, put it in the folder containing the software and run the miner. The coins will be mined to your MinerGate account.
We hope our guide have helped you to understand the basics of merged mining and you will feel more confident making profit from coins that support it. In case you have more questions or need assistance, we are happy to help.