Litecoin has same technical realization principle. Its creation and transfer are based on an open source encryption protocol and are not managed by any central authority. At the same time, Litecoin The scrypt encryption algorithm is used in its proof of work algorithm.
Litecoin uses scrypt algorithm. Total amount is 84 million. Litecoin network can process one block every 2.5 minutes (rather than 10 minutes). an average of one block is generated every 2.5 minutes, and the reward is halved every 840,000 blocks. Current block reward is 12.5 LTC + package transaction fee.
Now we can use the following miners to mine Litecoin, including Bitmain Antminer L3+, Innosilicon A4, etc. For more details of miner hashrate, power consumption, Break-even and so on, please visit Poolin website.
*Screenshot taken on Jan. 22th, 2021
Here we will take Bitmain Antminer L3+ as an example to introduce how to set up the miner and start to mine Bitcoin.
What You Need to Know before Using Miners:
1. PSU output power is recommended to be 20% higher than the power consumption of miner;
2. The router or network switch you are using to get connected with miners shall be ones without POE;
3. Miners can only be connected to router or network switch with wired connection;
4. Recommended operation temperature: 10-35 °C;
5. Recommended operation humidity: <65%;
6. Measures shall be taken to protect miners from dust, cax or so, otherwise hashrate board may be in corrosion and heat may fail to be dissipated;
7. Google or FireFox browsers are recommended to sign in miner backend.
Before setting up Bitmain Antminer L3+, you need to make sure whether everything is ok and ready.
Tools needed: PSU, PSU power cable, miner, network cable, a personal computer for operation
A: Check the Miner
1. Package inspection. After receiving a new miner, please make a package inspection first to check whether the package or the miner inside is damaged. If yes, please take photos and contact customer service of miner producer;
2. Miner inspection. Please take miner out from package and then check whether there's deformation or damage in miner, fan, cable, fan cable etc. If yes, please take photos and contact customer service of miner producer;
3. Heat sink inspection. Inspect from both the front and back fans to check whether heat sink is disconnected. If yes, please take photos and contact customer service of miner producer;
Note: as computing boards are put in card slot chassis, you may hear some sounds by shaking the miner, which is a normal phenomenon. And don't worry about it.
B: a tool to locate miner IP, IP reporter
C: miner tool https://service.bitmain.com.cn/support/download?product=Antminer%20Toolkit
D: pool website, visit https://www.poolin.me/ and register an account
MINER BUTTON INTRODUCTION
You can use IP Report software to get IP address of the miner by press this button
wire network connection
alarm light flashes when the miner is in fault
the light flashes when the miner is working normally
you can pin this button to reset the miner
SD card slot
MINER CABLE CONNECTION
1. Cable connection of hash board: Antminer L3+ has four hash boards and each board has 2 PCIE intefaces, and each shall be connected with a 12V PSU cable, in total 9 pieces of 12V PSU cable.
Note: there's no difference in using which cable to connect with which interface. Just keep in mind to plug it in with right direction, namely the direction of buckle. If errorly operated, hash board may encounter short circuit and damage. After plotted those cables, you need to double check if the cable is loose or not fully inserted.
2. Cable connection of control board: there's one PCIE interface in control board and you just need to insert one 12V PSU cable.
Note: there's no difference in using which cable to connect with which interface. Just keep in mind to plug it in with right direction, namely the direction of buckle. If error operated, hash board may encounter short circuit and damage. After plug in those cables, you need to double check if the cable is loose or not fully inserted.
3. Network connection
4. Fan connection. Check whether the plug of fan cable has been fully or tightly connected. Each fan is connected to control board with one plug.
LOCATE MINER IP
After the miner is fully equipped and set up, the first thing you need to do is locate miner IP.
Method One: Get IP through IP Reporter software
1) Download IP Reporter or other similar softwares from miner producer's website;
2) Run the software and click "start";
3) Press IP Report button for about 1 second;
4) The software will show the IP address of the miner you are operating.
Method Two: get IP address from router
1) Sign in router management page (usually it's an IP address that you can find in router instruction or label) and then you can see equipments that are connected to this router.
2) Figure out the miner you are operating according to its name or the time it's connected to router and then you will know the IP address of the miner.
After getting miner IP, you can start to configure the miner. Use a computer that is connected to the same router as the miner, and type the IP address of the miner in the computer browser address bar and press "enter" to continue.
1) There will be a pop-up page that requires you to enter username and password of the miner.
Default username and password are both root.
2) After signing in, click Miner Configuration and then General Settings and then enter the following three urls to URL respectively.
The miner will connect to pool 1 by default and then pool 2/pool 3 if it fails to connect to pool 1.
Worker: worker is a combination of the sub-account you've registered in Poolin.me, a dot and a miner ID that is used to name the worker. (You need to enter sub-account here, but not the wallet address you use to collect payment. You shall log into Poolin.me to set wallet address so that you can get your mining profit daily.)
Password: any password is ok
3) Click Save&Apply to start the miner.
4) The miner will start to work after a few seconds. You can go to Miner Status page to check details and performance.
<1> Confirmation of the mining status of miner background: after miner is connected to mining pool, you could view hashrate and other data on Miner Status page.
<2>Confirmation of the mining status on Poolin dashborad: You can log in to your LTC sub-account at Poolin.me. When your miner is connected to the mining pool, you can see real-time hashrate, active miners and other data.