If you’re reading this article, then you are not lost in any way. This article explains how to mine Monacoin as well as Monacoin mining pools. Today, we will discuss and learn everything about Monacoin mining pools and how they operate in the field of crypto.
More importantly, know these reminders before we start our Monacoin mining pools journey. First, keep in mind that you must get a deep understanding of any crypto asset before you begin to mine. In fact, doing your due diligence before mining is more of a necessity than a choice.
Also, remember that anything concerning Monacoin mining pools in this tutorial is based on the CoinQuora team’s research and observations. Hey, crypto fan! Are you a beginner in the crypto world? Continue reading our Monacoin mining pools article for more information to be able to mine Monacoin yourself. Without further ado, let’s get to know what Monacoin is all about.
Table of contents
What is Monacoin?
In short, Monacoin is a Japanese-based cryptocurrency. It operates as the first and oldest digital currency in Japan now. Of note, Monacoin is also an open-source and decentralized blockchain currency.
MONA serves as a native currency within the Monacoin ecosystem. To be specific, the Monacoin community exists as the most promising crypto community in Japan.
Specifically, Monacoin started working as crypto in January 2014. It is primed to follow the footsteps of the leading crypto Bitcoin (BTC).
Historically, Monacoin was invented by a pseudonymous creator similar to Bitcoin. As of now, no one knows the whereabouts of the Monacoin creator. In terms of technology, Monacoin uses the Scrypt algorithm as a consensus in its operations.
Monacoin does this by offering a P2P decentralized payment system. Furthermore, Monacoin adapted the Lyra2REv2 consensus algorithm and changed its Scrypt algorithm at block 450,000. Reasonably, the Monacoin team made the changes to mainly keep and improve upon Monacoin ASIC-resistant.
Since then, Monacoin has not yet conducted an additional hard fork to any other algorithm.
Monacoin Price Prediction
Bullish Monacoin price prediction. Based on our Monacoin mining pools guide, Monacoin price is expected to surge up to about $3.601476 before 2021 ends. However, MONA price can even achieve higher highs if it continues to maintain its support and resistance level.
Moreover, both institutional investors and individuals purchasing activities can push MONA price to a new all-time high (ATH). Not limited to this alone, the ongoing crypto market bull run can also have a greater positive impact on Monacoin’s price.
Looking at its current features, we can openly say that Monacoin appears promising and it is good crypto to try hands-on. Note: the above-stated price prediction is solely based on the CoinQuora team’s observations and analysis only. As said already, doing your due diligence is very important.
Nonetheless, with no formula, you can choose to mine or trade MONA tokens at all times regardless of your location. Our Monacoin mining pools article does not make a complete decision for you. On the other hand, the Monacoin mining pools leave the choice for you to choose.
How to Mine Monacoin
You can choose to mine or trade Monacoin. Take note, miners receive MONA tokens as a reward whenever they embark on Monacoin mining. Refer to our best 10 cryptocurrencies to mine in 2021 article to know who a crypto-miner is.
In this Monacoin mining pools section, we will dive deep into ways and techniques to mine Monacoin more efficiently. Crypto mining is different from physical gold mining.
Similar to other existing cryptos like Zcash, you can succeed to mine Monacoin in two ways. You can successfully use both Solo mining and Pool mining techniques to mine Monacoin at all times. More so, miners can use ASIC, GPU, and CPU machines to mine Monacoin.
Among the aforementioned machines, Application-Specific Integrated Circuit (ASIC) is the most powerful and dominating mining equipment nowadays. Aiming to increase profitability in Monacoin? Then we recommend that you go for ASIC mining. Thus, by using Lyra2REv2 ASIC rigs.
Below are the major differences underlying both methods.
When you are Solo mining, it means that you take full responsibility for the entire mining. Miners buy all the tools and necessary equipment to embark on the mining. Moreover, miners take the entire cost of the electric power.
In fact, since you buy the equipment yourself, Solo mining can be a somewhat expensive thing to do. Though, it is still a profitable method to mine MONA. Miners do not share rewards with anyone. Rather, they directly enjoy their reward alone.
To begin, Pool mining is the opposite of Solo mining. In Pool mining, miners are allowed to join their resources together in the process of mining. As they join, they eventually combine electricity power in the pool to find blocks.
Combining electricity power makes it easy to get rewards at a faster rate. By doing so, the mining rewards are distributed among anyone one who joined the pool. In this essence, sometimes, miners are asked to pay a fee when joining.
MonaCoin Mining Pools
Moving forward, join me to also talk about Monacoin mining pools and how you can optimize your crypto-mining experience. If you have noticed from our previous mining tutorials, mining pools’ features are similar from one coin to another.
Let’s consider the right Monacoin mining pools you can choose and how they work. For this reason, you can accelerate your mining for higher returns. Now, let’s tour through some of the pools you can use to mine Monacoin.
To start, VipPool.net is one of the Monacoin mining pools. It bills itself as the largest Monacoin mining pool in Japan. VipPool specifically manages 50% of the network’s hash power during mining. Moreover, it charges no fees when operating.
Before you can use VipPool, you need to have the ability to read and understand the Japanese language. The VipPool website content is only in Japanese.
In terms of popularity, MiningPoolHub is the second most popular pool to mine Monacoin. It eventually controls about a 25% pool hash rate. MiningPoolHub charges a fee of 0.9% with a minimum payout of only 0.1%.
However, this makes the pool a good choice for anyone mining from home. One promising feature of MiningPoolHub also is, it enables multi-algorithm usage. This means that you can easily switch from one algorithm to another to make a profit.
By doing this, you can redeem your mining pay-outs easily.
F2Pool is the biggest, decentralized, and one of the most partnered crypto mining pools worldwide. It is a China-based mining pool. To use, miners have to register an account to be able to work with F2Pool.
For Monacoin, F2Pool appears as the third-largest MONA mining pool. It manages roughly 15% hash power. Moreover, the pool charges up to a 4% mining fee. F2Pool gives a payout of 10 MONA every day.
ZPool is another pool we are going to talk about in our Monacoin mining pools news. However, ZPool specifically mines more than 100 different coins. It has a minimum payout of 0.05 MONA.
Requesting for payment? ZPool waits to find a Monacoin block before its transaction. One thing about ZPool is that you decide the type of algorithm to use and the pool chooses which one crypto is worth to mine.
What is more, ZPool has its servers across the world. It charges about 1.25%. Due to how the pool mines varieties of coins, its hash power also changes depending on the coins.
Never think complex. With the help of our Monacoin mining pools tutorials, we strongly believe that you can now mine Monacoin yourself. If you still have a shallow understanding of how to profitably mine MONA, consider reading our Monacoin mining pools guide again.
In addition, note that you can efficiently mine Monacoin with ASIC. However, ASIC mining is the best way. Finally, don’t forget to do your due diligence research before mining any crypto.
As we have already explained what Mona Coin is, here’s just a brief description. Understand that Mona Coin is a decentralized crypto asset in Japan. It used Proof-of-Work (PoW) under the Lyra2REv2 algorithm.
Mona Coin’s price is expected to surge up to $3.601476 before 2021 ends.
The shorter answer is yes. You can choose to mine or trade Mona Coin everywhere at all times. In this Mona Coin mining pools article, we recommend that you mine Mona Coin with ASIC machines. In fact, mining MONA with ASIC is the best method.
All-in-all, to know how much MONA you can get each day, visit http://whattomine.com to calculate your per day MONA profit. The calculator gives a rough estimate output but you can get a higher or lower estimate than what the calculator says.