Vertcoin Development Team release new AMD cryptocurrency miner for the Lyra2REv2 algorithm
Vertcoin, a proof-of-work cryptocurrency, has released a new AMD optimised mining software. Previously, the Lyra2REv2 algorithm used by Vertcoin was only profitably mineable with Nvidia GPUs. The release of Lyclminer levels the playing field as it increases accessibility for more users.
The following is a press release from the Vertcoin development team.
Boston, United States– June 22, 2018 – Vertcoin.
The Vertcoin development team is proud to announce the beta release of “Lyclminer”, an AMD miner released by Vertcoin. It enables individuals with an AMD graphics card to mine Vertcoin efficiently.
Lyclminer is faster and more stable than mkxminer. During testing, the Lyclminer performed exceedingly well on AMD graphics cards delivering stable hashrates close to 74 mh/s.
The release of the miner is specifically important to the Vertcoin community who own AMD graphics cards because it facilitates their decentralisation and fair mining ethos popularised by Bitcoin in its early days.
According to James Lovejoy, the AMD miner is a step in that direction. With the release of this miner everyone with the latest AMD graphics cards are able to mine Lyra2REv2 algorithm efficiently.
Vertcoin has been actively developing an open-source cryptocurrency miner in cooperation with its community through a bounty program. The source code of Vertcoin Miner is available here. The Vertcoin development team has chosen to open-source Vertcoin Miner in the hope that it will benefit the entire cryptocurrency ecosystem.
The AMD miner for Vertcoin is a project that has been in development for over six months. Initially, a developer had claimed the bounty under the promise to release the miner in late 2017/ early 2018. However, delays in development due to health issues led to delays in production and eventually to cancellation of the bounty reservation. As a result, another developer worked and delivered the AMD miner on deadline to the Vertcoin team.
The initial testing phases were conducted in two stages. After successfully completing internal testing, Vertcoin users were selected for private testing. This testing phase resulted in no bugs. Because of that, Vertcoin Miner has been made available today for everyone via https://github.com/CryptoGraphics/lyclMiner
The testing resulted in the following hashrates for AMD cards:
AMD VEGA series
- VEGA 64 -75mh/s
- VEGA 56 -60mh/s
AMD 500 series
- RX 580 -42mh/s
- RX 570 -36mh/s
- RX 560 -16mh/s
- RX 550 -8mh/s
AMD 400 series
- RX 480 -32mh/s
AMD 200 series
- R9 280X -23mh/s
- R9 270 ~13mh/s
- 7970- 21mh/s
A manual with instructions on how to set-up and use Vertcoin Miner can be found at here.
The Vertcoin team has expressed they plan to officially integrate Lyclminer into the Vertcoin One-click-miner.
Created in 2014 with the intention of being easily mined by the masses, Vertcoin is a cryptocurrency like Bitcoin and Litecoin with an added focus on keeping the ecosystem as decentralised as possible. As a zero frills development coin that solves real cryptocurrency problems rather than fluff that crowds the space.
Committed to decentralisation, Vertcoin remains resistant to devices called ASICs through regularly changing it’s adaptive mining algorithm as ASICs cannot adapt to change. Choosing the right consensus tool is key to mining decentralisation and distributed governance, ASICs do not achieve this. In more recent times ASICs have taken over Bitcoin/Litecoin, centralising profitability and governance to ASIC manufacturers.
One of Vertcoin’s core beliefs is that cryptocurrency is worthless unless it’s decentralised. Supported by tens of thousands of community members from all over the world. Vertcoin is often hailed as one of the “best communities in crypto”, Vertcoin really is all about its community. There are no businesses or celebrities behind Vertcoin, only real people with a shared vision.
Lightning network and LIT implementation
Vertcoin is at the forefront of Lightning Network development, currently developing the first known multicoin lightning network wallet. The lightning wallet will run on LIT, one of the four currently existing implementations of Lightning Network. LIT’s multicoin support is built directly in, natively supporting SegWit coins by default. Other implementations require forks of Lightning which inevitably result in downstream bugs never getting fixed, similar to Electrum. Due to coin support being directly implemented into the protocol, LIT will be able to achieve the multicoin lightning ecosystem operability much faster and smoother than any other implementation.