omegamike
Posts: 1
Joined: Sun Nov 04, 2018 1:47 am

Gridcoin Mining and Wallet Setup (Learn about Cryptocurrency) [TUTORIAL]

Sun Nov 04, 2018 3:22 am

Gridcoin is an open-source cryptocurrency. Its mission is to reward researchers who contribute computing power to the BOINC network (think SETI@Home, World Community Grid). It is also one of the few crytocurrencies out there that can be run on ARM CPUs, is immune to ASIC mining, and is backed by a community that isn't entirely driven by the greed that is associated with the crypto community. In short, I think it is a great crypto project for the maker community.

This tutorial will cover setting up the Gridcoin wallet on your PI and will provide resources on how to mine using software that can be installed from existing repositories.

What's needed?
  • A RPI with - I have tested this on a RPI 3 B and RPI 3 B+
  • 16gb SD card - you might be able to get by with 8Gb but it is a blockchain so it will grow over time
  • Raspbian (Stretch)
  • An Internet Connection
  • The Normal RPI stuff (power supply, etc)
  • I also highly recommend enabling SSH and VNC (via the 'sudo raspi-config' command beforehand)
Phase I - Install Dependencies and Software

Go ahead and start up a terminal either by connecting to your PI via SSH or by clicking on the Terminal Icon if using a GUI

Make sure you are in your home directory:

Code: Select all

cd ~/
Update your apt-get sources:

Code: Select all

sudo apt-get update
Install necessary dependencies:

Code: Select all

sudo apt-get install boinc libminiupnpc10 libdb5.3++ libboost-program-options1.62.0 libboost-chrono1.62.0
Get the most current version of Gridcoin. Note that this is the terminal based version which I recommend running due to the low memory/processing power of the RPI:

Code: Select all

wget http://holonet.access.ly/gridcoinresearchd_4.0.0_stretch-1_armhf.deb
Install the package:

Code: Select all

sudo dpkg -i gridcoinresearchd_4.0.0_stretch-1_armhf.deb
Phase II - Setup the wallet

Run the wallet for the first time:

Code: Select all

gridcoinresearchd
At this point, it will run, but since it is the first time, it will go through setup and generate an rpc user and password. These allow you to control the wallet remotely using the command line. Make sure you copy the fields that it provides. If needed copy these onto a blank text document. You will need them when you create a gridcoinresearch.conf file next.

Go into the new folder created:

Code: Select all

cd .GridcoinResearch
Create a new config file:

Code: Select all

nano gridcoinresearch.conf
At minimum, copy the following stuff in the file. Note to replace the rpc fieldswhat whatever you copied down in the previous step:

####
rpcuser=WHATEVER_YOU_COPIED_FROM_BEFORE
rpcpassword=WHATEVER_YOU_COPIED_FROM_BEFORE
PrimaryCPID=INVESTOR
email=INVESTOR
listen=1
daemon=1
###

Now hit CTRL-X and push Y to save.
Time to run wallet!

Run the wallet:

Code: Select all

gridcoinresearchd
It may take a moment for the wallet to initialize. Once it does, it will start downloading the blockchain. It will take a long time to sync up with the network. If you get curious where are at you can check what block you are on:

Code: Select all

gridcoinresearchd getmininginfo
There are a ton of commands out there. Most of them will start with 'gridcoinresearchd' and have something after it. You can view all RPC commands here: https://wiki.gridcoin.us/RPC_commands

Phase III - Sign up for the Pool and Start Mining

DISCLAIMER: For Gridcoin, there are two ways to mine: Solo Mining and Pool Mining. This example uses pool mining through GRC Pool. It will allow you to receive rewards without holding a balance. If you want to solo mine later on, it is recommended to have at least 2,000 GRC before doing so.

Also, this part requires a lot of back and forth to get going. If you need to see it, GRC pool has a good video: https://www.youtube.com/watch?v=jm2E6pQ-Ifw

Go back to the terminal and create a wallet address:

Code: Select all

gridcoinresearchd getnewaddress
It will spit out a really long string of letters and numbers - save/copy this

Setup an account on GRC Pool and update with your GRC address: and create an account
  • Once created, go to the "Account" section and look at the Earnings box. There should be a field for GRC Address. Make sure you set your GRC address to the wallet address you generated in the previous step.
Start up the BOINC client and connect to GRC pool:
  • Click on the applications menu (Raspberry Icon), go down to System Tools, and Run BOINC
  • When it runs, DO NOT select a project - Immediately select "Cancel"
  • Click on the "View" menu and select "Advanced View"
  • Click on the "Tools" menu and select "Use Account Manager"
  • Enter your GRC pool login credentials
Select projects
  • Scroll down and click on the blue arrow in the "Hosts" box
  • You can now select your PI and select a project
Note that not every project will work on a PI. You can go here to see which ones are compatible: https://wiki.gridcoin.us/Current_BOINC_Whitelist

Go back to the BOINC client and sync
  • Click on the "Tools" menu and select "Synchronize with GRC Pool"
It may take a bit but you should start seeing tasks come in.

Note that GRC is distributed based on average research performed. It will take a few weeks to reach maximum payout (and will ramp up slowly).

Welcome to the Gridcoin community. Great resources include:
Gridcoin US - https://gridcoin.us/
Gridoin Wiki - https://wiki.gridcoin.us/RPC_commands
Gridcoin Stats - https://www.gridcoinstats.eu/

I hope you enjoyed this tutorial! Please post any comments or questions.

Return to “Other projects”