Mining Monero
Monero is a cryptocurrency that relies on proof-of-work mining to achieve distributed consensus. Below you'll find some information and resources on how to begin mining. The Monero Project does not endorse any particular pool, software, or hardware, and the content below is provided for informational purposes only.
Proof of Work
One of Monero's philosophies is to maintain egalitarian mining, so that everyone can have the possibility to mine. To achieve this, Monero uses a particular algorithm ideated and developed by members of the Monero community: RandomX. This PoW algorithm is ASIC resistant, which means it's impossible to build specialized hardware to mine Monero. Miners must use consumer-grade hardware and compete fairly.
Monero can be mined by both CPUs and GPUs, but the former is much more efficient.
Solo vs Pool Mining
Miners can decide if they prefer to solo mine or to mine in a pool. Each method has its benefits and drawbacks, but the Monero Project encourages individuals to solo mine using the Monero software (GUI and CLI), as this type of independent mining is the most effective way to increase the robustness of the Monero network.
Solo Mining
+ Makes the network more secure than if mining in a pool.
+ You can mine using your Monero wallet. No need for additional software.
- Depending on your hashrate, it might take months before you find a block. This is often referred to as a 'lottery'.
Pool Mining
+ Frequent payouts. You will receive XMR according to how much you are participating in the pool of your choice.
- You have to pay a fee to the pool operator.
- You can only use third party software to pool mine, which might take a small percentage of your shares.
- Too many people mining on a single pool might lead on the pool having >50% of the total hashrate, which is dangerous.
More Info
You can use the following links If you need help choosing a pool or you just want more information about them:
Hardware
Monero can be mined on both CPUs and GPUs, but the latter is much less efficient than the former. You can get an idea of how your hardware performs compared to others, using the following link (some results might be out of date):
Running a Node
An easy and effective way to help the Monero network is to run a node. Nodes ensure the network keeps running safe and decentralized. A simple fully synchronized node is enough to help the network, but if you want to go out of your way, you could run an open remote node, to allow other people to connect to it.
We have several guides to help you run and configure your node:
