Best Dogecoin Miner
What is DogeCoin (DOGE)? Find the best dogecoin miner hardware, and pools, all reviewed here today.
Bitcoin is now worth thousands of dollars and even reached a zenith of about $20,000 which has since gotten it nicknamed the “digital gold”. However, not all cryptocurrencies are as expensive and as such taken as seriously as Bitcoin, and one of those crypto assets is the ever-lovable Dogecoin. .
What is it that attracts us now to the best dogecoin miner hardware? Bitcoin is rarely out of the headlines these days, as the talk of regulation and lack of regulation continue to inspire passionate debates about the cryptocurrency and blockchain technology universe it initiated just under a decade ago. Cryptocurrencies have come a very long way and are now firmly part of the psyche of the modern life.
The Bitcoin network was launched back in 2009 and since then a number of other cryptocurrencies have been launched and one of these cryptos is Dogecoin. Dogecoin was designed to be a friendly coin. It was designed to appeal to those that would ordinarily find it difficult to invest or start mining cryptocurrencies. Now lets look at the top Dogecoin miner hardware and miner pools.
Best Dogecoin Miner Hardware
Currently, Dogecoin is one of the alternative coins (altcoins) with a large trading volume and liquidity. Created by two friends who came together because of their love for cryptocurrencies, Dogecoin according to these developers was designed to be a fun cryptocurrency. According to the Whitepaper of this project, it was designed to have more demographic than Bitcoin. Launched in 2013 and developed by Billy Markus and Jackson Palmer, this coin was expected to have a limited supply of 100 million but after careful consideration, the developers decided to make its release infinite.
Dogecoin has been designed to be built on the Scrypt Algorithm.
How Mining Is Done On Dogecoin
Like most of the other crypto platforms like Bitcoin, Litecoin, etc., miners on the network will have to compete to verify blocks. These blocks to be verified are simply transactions that have been carried out by community users. Once a Miner on the network discovers a block, the other miners will simply have to abandon the block and verify the block (transaction) to ensure that it meets all the stipulated requirements of the network.
Once a miner successfully adds a block to the Blockchain, a certain percentage of Dogecoin are released and the transaction fee paid by the sender will also be sent to the miner. This is exactly how Dogecoin comes into circulation. With more pwo6 competing for these blocks, it is only imperative that miners make use of advanced mining hardware to ensure that they are able to successfully complete and add blocks.
Dogecoin makes us of the Proof of Work (PoW) consensus algorithm. Mining on Dogecoin requires electricity, time, and the use of certain advanced hardware which we will look at with the best Dogecoin Miners below.
Difference Between Dogecoin VS Other Cryptocurrency Networks
Unknown to most people, there are actually a number of differences between mining Dogecoin and on other crypto networks. Like Litecoin, The best Dogecoin miner makes use of the Scrypt Hashing Algorithm which enables centralized mining of these two coins. Surprisingly, Dogecoin and Litecoin can be mined together. Irrespective of this significant similarity, there are certain areas that Dogecoin mining differs from the others.
The 4 Main Differences between Dogecoin and other Cryptocurrency;
- Difficulty Level – this is one of the may difference of crypto networks. The difficulty level of mining on any network is calculated by the formula and it shows the amount of time that is needed to successfully mine one block. In addition to that, the difficulty level of mining on any crypto network will also depend on – the hash rate, electricity consumption level, the type of hardware system uses in mining on the network.
- The Algorithm – this is another important part that differentiates crypto mining on a particular network. Most of the crypto networks in existence today make use of different mining algorithms meaning that the style of mining may differ completely from others.
- The Block Time – this simply refers to the time a block will be added to the Blockchain. Various cryptocurrencies have different block time and this affects how miners on these networks mine their coins. The block time on the Dogecoin network is 1 minute (60 seconds).
- The Block Reward – this simply is the amount of coin a miner will receive once he or she discovers a block and adds it to the Blockchain. The block reward will affect the profitability level of mining a particular coin. The block reward on Dogecoin is 12.5 Dogecoins.
Best Dogecoin Miner Types
If you’re new to Dogecoin mining, it is important that you familiarize yourself with the mining types. Actually, there are just two mining types on the Dogecoin network. They are;
- The Solo Miners – most of the time referred to as the independent miners, a solo miner is a miner that works alone. That is he provides hashing power, electricity, power themselves. While solo miners receive the full block reward, the chances of them finding and adding blocks to the network are low and this is simply because a majority of them make use of CPU miners.
- Pool Miners – as the name implies, this is simply a group of miners that have come together to mine. These miners will have to contribute their quota to ensure that they find blocks. When they receive block rewards, they share it based on how much is contributed. It has been described as one of the best ways to mine Dogecoin.
5 Best Dogecoin Miner Hardware For Solo Miners
While most people make use of CPU to mine Dogecoin, it is actually not advised because it is capable of damaging the computer. However, there are a number of Graphics Processing Units (GPUs) you can use to mine Dogecoin and they include;
The Arex Strix Radeon GPU
This is an advanced mining rig that has been designed with some of the most amazing features anyone can ask of. One of the main features of this amazing GPU is the fact that it is a high-performance one. Unlike some of the others, this GPU has an excellent cooling performance, meaning that it does not heat up during the mining process.
MSI Gaming GForce
With a memory speed of 1830 MHz per 12GBPS, this is an advanced mining rig that most Dogecoin miners have had to settle for. With 6 GB of RAM, this GPU mining rig has been designed to be compatible with Android and IOS devices.
With a Power Supply Usage if 450 Watts, this is an advanced mining rig. One of the main advantages of this mining rig is its price.
MSI Gaming Radeon X
Currently selling for $239, this is an advanced mining rig that has been designed to offer miners high-performance hardware to mine their coins. When compared to some of the miners listed here, this is a high performance and efficient mining rig. It has a power consumption of 185 Watts.
With a hash rate of 580 MH/ second, the Antminer L4 is currently one of the most advanced mining rigs in the world at the moment. It is an amazing ASIC miner that has been designed to offer miners high performance and the ability to discover blocks as fast as possible.
BW Scrypt Miner
With a RAM of 512MB, this is not the best mining rig anyone can choose at the moment. It is one of the very few Scrypt miners capable of mining Dogecoin and Litecoin.
Best Dogecoin Miner Pools
As mentioned earlier, mining pools are currently one of the best way to mine Dogecoin. They offer you an opportunity to make more money than you can sometimes ordinarily make as a solo miner. Currently, there are a number of these mining pools and they include;
Prohashing Best Dogecoin Miner
This has been described as a multiple mining pool and according to their website, this pool mines the following coins; Dogecoin, Litecoin, Ethereum, etc. This mining pool unlike some of the others has been designed with an algorithm that immediately switches to the most profitable coin to mine.
With a current hash rate of 1,683 TH/s, Prohashing makes use of the PPS Reward Type. The fee for mining on this pool is 4.99%.
Alkapool another Great Dogecoin Miner
This is one of the most common mining pools you will find. According to miners on this pool, it is straightforward and simple. One of the main advantages of this mining pool is that there is an average mining pool size and there are built-in instructions that will guide both amateur and advanced miners.
With a current hash rate of 3,523, this is one of the most advanced mining pools out there. Interestingly, the mining pool charges a meager 1% for all rewards that are gotten. These features set this mining pool ahead of some of the others in the world.
Multipool is a top Dogecoin Miner
This is one of the oldest mining pools in the world at the moment. Being a multiple fork, this pool offers you the opportunity to mine over 20 different coins. There is an amazing algorithm that is capable of switching to the most profitable coin to make.
This mining pool has an active customer care team ready to answer questions of potential miners. In addition to that, they respond to problems that miners may have with their software. Additionally, they only charge a 1% commission from block rewards.
Litecoinpool Advanced Dogecoin Miner Pool
Making use of the Scrypt Algorithm, this is an advanced mining pool that offers you the opportunity to mine some of the best coins there is. With a hash rate of 24,380 GH/s, this is one of the best mining pools out there. Interestingly, no commission is charged. This gives you total control and ownership of your reward.
Ghash is a Well Established Advanced Miner Pool
Being in operation since 2013, this is one of the oldest and most advanced mining pools in the world right now. Aside from offering you the opportunity to mine Dogecoin, you can also mine a number of coins as well.
It has an impressive customer care service that replies to any messages miners may have. This customer service team also helps to resolve some of the software issues miners may have.
Best Dogecoin Miner Conclusion
Dogecoin is currently in one of the most profitable coins to mine. We have discussed some of the best hardware mining rigs you can use to mine as a solo miner. Also, we have talked about some of the best mining pools to join.
Now what is a Dogecoin mining all about?
Doge coin is among the first wave of altcoins to come online after Bitcoin began to gain traction and value. It was first released in December 2013, by and Adobe Systems Engineer Jackson Palmer in conjunction with one Billy Markus from Portland, Oregon. At the time of its release, Bitcoin had become the hot currency for use by unsavory characters selling all kinds of illicit substances on what is known as the Darkweb.
Due to its high cryptography feature and no need for banks to process its transactions, Bitcoin became the perfect means of exchange for these drug vendors, and in a part joke and part protest, Dogecoin was created by Palmer and Markus to give it a distinct identity from Bitcoin and its dark world.
Origin Of Dogecoin
Dogecoin was not a fresh creation that was made from the ground up by its makers. It is essentially a fork of the Luckycoin crypto asset which in turn was created from the source code of Litecoin. Like both Luckycoin and Litecoin, Dogecoin is created using the Scrypt protocol which means that it cannot be mined using specialized hardware like ASIC miners, which in turn means there is a much fairer competition and no industrial mining rigs were ever developed for it.
The Dogecoin Mascot: What is it?
This crypto is often labeled as a joke cryptocurrency, partly because of its origin, and partly because of its legendary mascot, the Shiba Inu Doge from the Internet Meme sensation. While almost every cryptocurrency has a symbol, Doge is one of the very few with an official mascot.
Dogecoin prides itself as the cryptocurrency with the most feel-good, and vibrant community online. Due to the sub-penny value of the currency, most Dogecoin owners only use the crypto asset to tip one another, and to offer cryptocurrency newbies the chance to hone their skills when it comes to using wallets and other crypto features and facilities.
What is Dogecoin Mining?
Dogecoin as earlier stated is created based on the Scrypt protocol. There is no specialized hardware as of yet developed to mine the cryptocurrency, due to its very low value and limited exchange possibilities. At the initial phase, there were 100 billion Dogecoin to be ever created but in an announcement in February 2015, the Dogecoin Co-Founder Jackson Palmer made it known that Dogecoin would no longer carry a coin supply cap, and as such, the currency can be infinitely mined b those interested.
Launched in 2013, this coin is one of the most sought after and this is simply because of its good and playful nature. Ranked one of the most valuable coins in the market, Dogecoin has managed to become one of the best altcoins in the market. Experts and others in the industry have attributed this increase in value to its friendly and welcoming nature.
How it works
To get an idea of how mining works on Dogecoin, it is important that you first understand how it works in the first place. Basically, cryptocurrencies are digital currencies this means that they are not printed by a central authority. If that is the case, how then are coins released into the market?
When users carry out transactions on these crypto networks, it is the duty for a certain group of people (miners) on the network to validate and ensure that these transactions are original. They process these transactions and for that, they earn a percentage of coins. The percentage they earn is exactly how coins are released into the market. This is how it works on the Dogecoin network.
This is simply the act of getting rewards for validating transactions that are carried on the network. To become a miner, you need to run a node and compete against other miners in finding and adding blocks to the Blockchain network. These miners receive both the reward for finding blocks and also the transaction costs paid by these senders.
As a miner, you can either decide to join a pool or mine individually. One of the main benefits of joining a pool is that you get to spend less on getting the needed resources for mining. For those mining by themselves, they get all the rewards and transaction fees that they earn instead of having to share with others on the pool. Although mining pools have been identified to be the best way to mine coins because they are more productive.
Some of the best mining hardware for Dogecoin include but are definitely not limited to these;
- CPU – to mine Dogecoin, you can make use of your computer’s CPU. While this is powerful enough to mine Dogecoin, it is not recommended by experts because it may lead to serious damage to your computer. If you can take the risk, then you can use it to mine.
- GPUs – Graphics Processing Units are simply used to improve the graphics of your computer and they can also be used to mine Dogecoin. Currently, there are a number of GPUs you can choose from to mine Dogecoin.
How do you Store Dogecoin?
Although this is more or less a fun currency, the fact that it has a value that can be exchanged for other currencies or even fiat means that one has to take appropriate measures in order to keep it safe from the ever-sophisticated online hackers. Depending on the amount of Dogecoin you actually have, you have a wide range of options from the native wallet found at www.dogecoin.com/getting-started/ to the use of Hardware Wallets that support the currency.
If you wish to have quick access to your Doge coins for the sake of exchange or tipping fellow community members, then a hot wallet would do. But if you wish to keep it for long-term storage purposes, then a cold storage anonymous bitcoin wallet option is highly recommended, of which a Paper Wallet will come in handy.
What are the Best Exchanges For DOGE Coins?
Doge coin like most other cryptocurrencies is now an exchangeable asset. Exchanges that accept Doge coins for other cryptocurrencies or fiat currency like the US Dollar in other instances include AltQuick, Canadian-based Satoshi Vault, Bter, and BTC38 among others. Not only exchanges, the first Doge ATM machine was unveiled in February 2014 in Vancouver, Canada.
What is the Future for a Best Dogecoin Miner?
The Doge coin fever has caught on over the years, and the currency still maintains one of the largest online communities of any cryptocurrency. However, due to the infinite supply of the currency, it is unlikely that Dogecoin will ever become a strong contender to take on heavyweights like Bitcoin and Ethereum in terms of value.
However, the plus side of the currency is that it is still among the growing number of currencies that are ASIC-resistant, which boosts the decentralization mantra that cryptocurrencies are supposed to champion. Also you never know what the price may end up being worth some day. Look at other coins and what they did.