Ravencoin Pools: 5 of The Best Places to Mine RVN in 2024
So, you are looking at mining Ravencoin and want to increase your profitability? It may make sense to join a Ravencoin mining pool.
Ravencoin remains popular and profitable, and ASIC resistant thanks to its use of the X16R proof-of-work mining algorithm. This is actually 16 different algorithms that are used randomly during the mining process. It’s this random use of so many algorithms that makes Ravencoin ASIC-resistant.
However, even though it is ASIC resistant, it is also difficult enough that most home rigs won’t be successful with solo mining. One of the few remaining ways that you can increase your mining returns is if you join a Ravencoin pool. In this piece, I will give you some of the best Ravencoin mining pools to consider.
Top 5 Ravencoin Pools
There are literally dozens of pools available for Ravencoin, but nearly all the hash rate is concentrated in the top three pools. The concentration of hash power is often seen as a concern, especially for those coins with lower market caps.
Keep in mind that it is best if you choose a small to medium pool to keep the network as secure and decentralized as possible.
Now, let’s have a look at some of the best Ravencoin mining pools:
Suprnova.cc is well known and respected in the cryptocurrency community, which is why it is so popular for Ravencoin mining. Suprnova does require you to register, but only with your email address. However, once done you have a unified login that can used across nearly all of the other pools they operate (which is quite a few).
When I looked, there were just 73 workers on the pool and the last block was minted about eight hours ago. They have an average mining fee of 1% and servers located around the world.
Ravenminer is a global mining pool that has served in the U.S., Europe and Asia. It also has a small 0.5% fee.
When I checked they had 12,240 workers (778 online at the time) and 50 blocks found in the past 24 hours. They also have a 5 RVN minimum payout (0.5 RVN on Sundays), which could mean you have to wait for some time for a payout. No registration is required to use the Ravenminer.com pool. The block reward was 2,500 RVN, which comes to $38.40 as of Sept. 29, 2023.
Nanopool has 2,844 workers in the pool and found 54 blocks over the past 24 hours. Currently, the pool has about 243.0 Gh/s in total hash rate mining RVN.
The fee is an average of 1% and they have servers located around the world, making this a suitable mining pool for anyone, no matter where they are located. There is a 100 RVN minimum payout, the pool supports CPU mining, and there is no registration required.
Here are a few facts about 2Miners:
- It has dedicated data centres in Europe, the U.S. and Asia with DDOS protection.
- It is 100% compatible with Nicehash, a global cryptocurrency hash power broker
- It offers rig monitoring and new block notifications for all the pools free of charge for any amount of rigs.
The block reward is 2,500 RVN and 2Miners charges a 1% pool fee.
Antpool charges a massive 3% fee, the highest on this list. The pool hash rate is 644MH/s and the network hash rate is 5.65TH/s. At just $0.0097, the daily estimated revenue is quite low.
What Pool is Right for You?
When it comes to choosing the best Ravencoin pool, you have to consider a number of factors that could have a direct impact on your profitability. These include the following:
- Pool Uptime: Pretty fundamental requirement. You can only earn RVN hashing with a pool when the pool is running. Mining pools are also prime targets for DDoS attacks and are hence subjected to long periods of downtime. It therefore makes sense to use a mining pool that has a good record when it comes to historical up-time (preferably close to 100%). Suprnova is one of the few Ravencoin pools that disclose their up-time so that is indeed quite a positive sign.
- Fees: Another fundamental factor that will impact your profitability is the fee that the pool will charge.
- Hashpower: Pool hash-power is a bit of a tricky one. Although a pool with higher hash power is more likely to find blocks, it also means that you will probably have to share the block rewards with a greater selection of miners. However, if the pool has less hashing power you can keep more of the reward but you are less likely to find blocks as a Ravencoin pool with higher hash power.
- Server Location: Distance is important when it comes to choosing a pool as this will impact the latency between your rig and the server itself. Hence, you will generally want to join a pool that has servers closer to you.
- Payout Conditions: As we have seen above, there are numerous different options when it comes to payout structure at the pool. Some RVN pools will also have minimum payout requirements so these are important considerations to think about before you start hashing there.
Of course, you also need to consider that many of these requirements are a tradeoff with each other. The cheaper pools may not always have the best up-time and server location.
As competition heats up in the mining of RVN, so too will the difficulty in mining it. As more hash power joins the network, adjustments take place in order to account for it. This can only mean that solo home mining will become less practical and hence more reason for using one of the Ravencoin pools above.
There are other smaller pools you can join to help promote decentralization. And maybe with your hash power that smaller pool will begin finding a block a day.
If you do choose to go with one of the pools I’ve listed above, it is usually best to choose a smaller pool, but there’s enough decentralization in Ravencoin that it wouldn’t hurt if you decided to use Suprnova.cc as long.
Frequently Asked Questions
Ravencoin is a cryptocurrency that uses the X16R proof-of-work mining algorithm, comprising 16 different algorithms used randomly during the mining process. Its ASIC-resistant nature and popularity make it a preferred choice for miners.
Ravencoin mining is difficult for home rigs to succeed in solo mining due to its complexity. Joining a mining pool increases your chances of earning rewards by combining your hashing power with others in the pool.
Yes, different pools have varying minimum payout requirements. For example, Ravenminer.com has a minimum payout of 5 RVN (0.5 RVN on Sundays), while Nanopool.org requires a minimum payout of 100 RVN.
It is essential to verify the pool's reputation, uptime, and user reviews. Additionally, choose pools with transparent fee structures and servers located closer to your geographical location to minimize latency. Always prioritize security and reliability when making your choice.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.