Mine Monero to Support the Network
Monero miners use computing hardware to run a variant of the CryptoNight algorithm and compete for a mining reward associated with the next block of the blockchain. Monero mining is known for it’s ASIC resistance. This means it is more accessible and friendly to mining with CPU and GPU hardware, but it does not guarantee against individuals and companies configuring powerful ASICs and FPGAs to mine Monero as well. The Monero developers have established a routine network upgrade, occurring about every six months, to help combat against ASICs and FPGAs mining Monero and gaining control of the network hashrate.
However, it is assumed that as the intrinsic value or general profitability of mining Monero begins to become more realized, more individuals and companies will attempt to configure ASICs and FPGAs for mining Monero to have a competitive advantage and reap the rewards of mining against the smaller hashrates of CPU/GPU miners. Some Monero community members worry about ASICs and FPGAs presenting a risk of a 51% attack on Monero with the large hashpower that their powerful machines afford them.
As a result, there is a call to action to help defend and secure the Monero network by beginning to mine with whatever means are available to you. You are encouraged to become an active participant in the Monero network and help secure it.
Solo Mining: This is viewed as the lottery option of mining. If you turn your computer’s CPU or GPU to mine Monero, you are betting that you will at some point win a block against all other miners on the network. You would receive the entire reward of that block, but the odds of this happening are rather small. You can easily solo mine from Monero’s official GUI and CLI wallets. Learn More (getmonero.org/resources/user-guides/solo_mine_GUI.html).
Pool Mining: This is one of the more commons means of mining Monero. Mining with a pool will have more regular payouts, but they are much smaller because you are splitting the block reward with everyone else who helped mine it. Getting Started (supportxmr.com/#/help/getting_started) & Pool Distribution (minexmr.com/pools.html).
Web Mining: If you own or run a website, you can implement web mining to utilize your site visitor’s computing power. Websites like UNICEF Australia are fundraising with browser mining and provide an opt-in option for their visitors. Please do not web mine without giving your visitors an option to opt-in. CoinHive is one example. Alternatively, some pools allow you to web mine with just your browser. Mine with Browser (moneroocean.stream/#/dashboard).
Mining Software: XMR Stak and XMRig are the two primary programs that Monero miners use for mining, because their code has been shared, are configurable and perform well. Learn more (getmonero.org/get-started/mining). CastXMR is also a known mining program that is slightly configurable and advertised to miners with Vega GPUs, but the code is closed source which makes it difficult to recommend with any sort of confidence. Get CastXMR.
Known Scams: Be sure to check this list and make sure you are not using any miner, wallet, or exchanges that are known scams: reddit.com/r/monero/wiki/avoid