How to mine STRAKS with your Nvidia GPU(s)
What is STRAKS?
STRAKS is a new cryptocurrency, officially launched on the 20th November with the vision of becoming the most efficient cryptocurrency for ecommerce utility.
It includes lightning network, atomic swap, SegWit2x and is the most up to date masternode currency currently on the market. It is the first Masternode enabled currency based on Bitcoin core code version 0.14.2.
STRAKS Comparison Chart to other popular cryptocurrencies
What is STRAKS’ Max Supply?
The total available circulating supply is updated regularly through STRAKS’ API on Coinmarketcap. You may follow it here: https://coinmarketcap.com/currencies/straks/
150,000,000 to be generated over the next twenty years through PoW (GPU Mining) and Masternodes. It features a brand new balancing algorithm labelled Reactive Equilibria (REV1).
What is the premine of STRAKS?
STRAKS does not have a premine in the classical sense. A total of the max supply of 4.6% has been allocated to the foundation team. This equals 6,875,000 and will be paid out regularly in weekly installments over a series of years. This ensures that the public has full confidence that the team is committed to making STRAKS a success. The premine is therefore completely inaccessible to the team and is therefore not counted towards the circulating supply. Whenever any of the developers allocation will be distributed, you will have full transparency on the matter through the block explorer, where the core addresses are cleared labelled. All transactions can therefore be fully tracked in a completely and fully transparent manner, as that is a core values of the organisation. See more here on the richlist: https://straks.info/
Who is the team behind STRAKS?
I am one of the founding members of STRAKS (cryptovore). The team is vast, with expertise in a very wide range of functional areas. The team is always expanding, looking to bring new talent onboard, that is eager to make STRAKS a long term success.
Where to buy STRAKS
STRAKS is currently available across two exchange sites and will be launched on HitBTC in February. You may also purchase STRAKS directly with USD, using VISA, Maestro, Neteller, Skrill and more through Crex24.com.
How to mine STRAKS through a mining pool with your Nvidia GPU
Due to the attention and awareness STRAKS has received early on, attempting to solomine the currency will not yield much success. This guide focuses only on how to mine with your AMD GPUs.
1. Install your GPU drivers
Duh! But you’d be surprised how many actually get that wrong and end up having issues as a result.
2. Download the STRAKS qt-wallet
The wallet is where your coins will be stored.
Once you have it downloaded, extract this some place convenient for you. I keep it on a folder on my desktop so I can easily find my digital currency wallets (aka cryptocurrency).
For you to now receive your coins, you will need to find your wallet address. Open the straks-qt wallet that you just downloaded and wait for it to sync (this can take some time depending on when you start the wallet, as it needs to download the blockchain).
Now that the client is open, click on the highlighted “Receiving addresses…” area within the client. Proceed to right click the address on the right hand side and press “Copy Address”.
You won’t need this quite yet, but now you know how to find it for later. It is the most crucial step because without it, you will not get the coins you are mining.
3. Download your mining software
4. Select a STRAKS mining pool
To be able to mine the coins, you need to connect it up to a mining pool. Below is a list of available mining pools, but to make it easy I have highlighted one that I recommend, which I will also base this mining guide on.
5. Set up your ccminer software for STRAKS
You will need to follow this step by step guide. The bat file is a file that executes and runs your mining software for you with some predefined settings. This directs you towards the mining pool for STRAKS that you will be part of and the account the mining will go into. Make sure you follow this precisely!
- Find the location on your HardDrive where you have extracted your Mining software to. Go ahead and right click inside that folder (anywhere with white space) and then click on Text Document, name this “STRAKS” for now.
- Open this newly created document, and insert the code here below:
ccminer-x64-75 -a lyra2v2 -o stratum+tcp://22.214.171.124:4500 -u YOUR_ADDRESS_HERE -p x –cpu-priority=3
-u stands for username -p stands for password
- Go ahead and change YOUR_ADDRESS_HERE to the wallet address (see step 2 in this guide).
- Leave -p (password) empty or just write x (makes no difference – it is not needed).
- Click File and “Save as…” make sure you change the file type setting to “All Files” and then name the file STRAKS.bat
6. You are now ready to start mining!
Simply double click the bat file STRAKS.bat you created and you should start to see it mining – it will be accepting shares.