How To Setup Your Own Bitcoin Mining Pool
How To Setup Your Own Bitcoin Mining Pool
Ultimate Mining Pool Guide For Beginners
How To Setup Your Own Bitcoin Mining Pool, This is a simple step by step guide that helps you setup your own Bitcoin mining pool. (Mining Portal Open Source (MPOS) is considered as the oldest and Node Open Mining Portal (NOMP) has branched off into another project Unified, Node Open Mining Portal (uNOMP). It is updated regularly as there is an active development team to update it. Unified, Node Open Mining Portal ensures adequate support of new currencies such as Bitcoin. It also ensures better security.
Unified, Node Open Mining Portal is easy to set up than the old ones. This is really very easy to run lots of mining pool operations. Here in this guide we have mentioned all the processes to help out the beginners. The main objective of this guide is to make the people enable to run their own Bitcoin mining pool.
Those who have any curiosity about Bitcoin mining pool or its working, they can find this guide really very informative. Running your own mining pool will not be easy. You require large budget, extensive system administration experience, troubleshooting skills, patience and solid knowledge. This guide is all about how to set up a mining pool for Bitcoin.
How to start a Bitcoin mining pool
If you are going to set up Bitcoin mining pool, you need more than 20GB disk space. You can use Windows 10 based PC. You need WinSCP, Putty, VPS (1 GB RAM), Ubuntu Server and much more. you should have little knowledge about linux in order to complete the process. Those people who have little knowledge of Linux they may take some time to understand this guide and lots of commands.
You should start your VPS and putty up and update Ubuntu.
sometimes you may not find default swap setup on your VPS and it is needed on a system which has limited memory. 4 GB swap size is common size that can be used for a VPS.
You can add it into fstab to activate it at root. You can add this line “/mnt/myswap.swap none swap sw 0 0” at the end of file using nano editor. Save and exit the nano editor.
You have to install the required packages
How to make a Bitcoin mining pool
You have to create a user for your mining pool.
You can add any user name that you want. You will also have to set a password so use something that looks different from root password. After doing all these things, you can go ahead and reboot it.
How to make a Bitcoin pool server
Now you need to set up coin daemon by using Bitcoin. You have to boot up putty and sign in to the new user set up.
If you have small VPS then compile process may take lots of time. You can take a break after do the command “sudo make”. After completing it, you can run daemon to create .Bitcoin directory in your users home dir.
You may get a message states that you don’t have any configuration file. There would be some suggestions like user/pass. You have to set up that particular configuration file for bitcoind. You can work on WinSCP to edit/add files. You are allowed to use any editor to edit it. You have to install WinSCP file.
You have to select few options from the displayed file on your PC. Choose file ”New Site” and fill it. SFTP will be file protocol, VPS IP will be your host name, ssh port will be your port number, user name would be root. You can fill root password to your password option. You can see your server information here:
You have to make sure that you accept host key by clicking login option. You will reach the root folder after logged in.
home/username/.litecoin is your file path. You can click on home folder and then on .litecoin.
Note: You have to use home/username/.bitcoin if this is setup for Bitcoin mining pool:
Now click on the empty area and go to the new and then file. Name the file as “litecoin.conf” and save it.
A text editor window would pop up there and you can use it to edit files.
You can update the litecoin.conf file and click on floppy disk icon (on editor) to go ahead. This is the process of setup and save config file. Go back into putty and you will get a message “Litecoin server starting”. You have to ensure that it is updating. Now you have reached to the most important step of setting up mining pool.
You use uNOMP for it as it already has webpage, stratum server, payout system and much more within this one system. You just have WinSCP and putty in order to run it. Now you can log in on Putty and root on editor with your new username. You have to download and update it and do main configuration.
Now you have to open WinSCP and navigate to home and click on config.json and select file option. You would find website and host. You can change “0.0.0.0”, to your VPS IP. After completing all the process, you can save the file.
The rest of the default configuration settings will work but you should open up on WinSCP to change the things such as admin password, site title, host and much more. Now let’s understand the process of pool configuration.
Open up WinSCP and click on Bitcoin or litecoin.jason (whatever file you have created for any currecy ) and edit it. You can enable it. You will find lots of options such as find payment, minimum payment, user, password and much more. You can edit this information and save the file. Now you can start your mining pool.
This is something that looks technical. You should have some technical knowledge to learn the entire process. This is really very simple and safe process that helps the beginners a lot. Hope you find this guide useful and informative.
Note: You Can Download MPOS from Here https://github.com/MPOS/php-mpos