The Basics of Komodo Mining Using Nvidia GPU

Komodo mining should be as simple as the objective of the coin. Today, we shall take you through about the basics that should at least get you started with. But first, let’s talk about what you will be mining: Komodo Coin

First Komodo is a cryptocurrency. Like any other cryptocurrency, it leverages on blockchain technology. However, Komodo promises to create its own ecosystem that is fast, private and secure. Besides, there is complete decentralization and is a ZCash fork in relation with BitcoinDark. Therefore, from this, we can learn that first and foremost that Komodo is a platform that is privacy-centric.

The coin creators assert the importance of complete decentralization and freedom. To that end, users with average KMD mining gear can compete with ASICs. Komodo uses the Equihash for hashing functionalities.

For consensus, Komodo employs delayed Proof-of-Work. KMD runs the BarterDEX exchange. BarterDEX is a decentralized exchange that implements ZK-SNARKs, light weight swaps, liquidity multiplier, and Atomic swaps. Though you can mine, users with more than 10 KMD coins in their KMD wallets earn a five percent annual interest.

Komodo Mining

Because Equihash is the main hashing algorithm, CPU and GPU mining is possible. After all, Equihash is ASIC resistant. However, GPU is more profitable and we recommend Nvidia GPUs for mining. It’s far more efficient to mine using Nvidia cards because of the company’s proprietary CUDA technology.

The Nvidia GTX 1070 is by far the best at 800h/s without over-clocking while consuming just 100 watts. Complementing the card is EWBF Miner with complete optimization for CUDA -core ensuring maximum performance. Though you will part with a two percent development fee, set up is less than 10 minutes. Besides, the miner is compatible with both Windows and Linux. Thereafter, you can join any of the 28 Komodo mining pools.

What’s the Pay in KMD?

Depend on the number of rigs, electricity costs and pool fees. You can also factor in the cost of your mining hardware.

The Nvidia GTX 1070 costs $420 from Amazon and processes at 800h/s drawing 170w. Assuming power costs $0.1 per KWH and you have five mining rigs then you can make $26 at prevailing market condition.

Mining Komodo is just like any other business. Do your due diligence and make sure you select a multi-currency Komodo wallet for storing your Komodo coins.

YouTube Video Courtesy of CryptoMine