Ergo (ERG) Mining Settings: RX570 and RX470 4 GB Profit (Super high)| Hashrate – Super profit when mining Ergo (ERG) on 4 GB AMD RX570 and RX470 video cards. Many newcomers to the Telegram chat ask me what is most profitable to mine on video cards with 3 and 4 GB of RAM in the summer of 2021.
The question turned out to be very relevant and I tried to answer it in this article. Nevertheless, today we will focus on such a coin as Ergo (ERG) on the algorithm Autolykos2… I caught my eye at the beginning of the year and still does not cease to delight me with its profitability.
So, mine Ergo (ERG) it is possible on such inexpensive video cards as AMD RX 460, 470, RX 480, RX570, RX580 and older models. Mining is also available on entry-level Nvidia graphics cards GTX1050Ti 4GB and GTX1060 3GB. As you can see, these cards can no longer mine ETH in normal mode. And here is the coin Ergo (ERG) it may well do this, because the size of the DAG file is less than 3 GB.
Where is Ergo (ERG) coin traded?
Coin Ergo (ERG) traded on many exchanges, the full list can be viewed at https://coinmarketcap.com/en/currencies/ergo/markets. I recommend using the exchange for mining Gate.io, CoinEX and HotBit.
You can withdraw the mined ERG coins, as well as exchange bitcoin for Ukrainian hryvnia on a service such as best-change and others.
How to set up SRBMiner
Step 1 – Download the miner
There are two options to download the miner:
- The official website of the developer.
- On the GitHub website.
On GitHub releases, scroll down to “Assets” and download the latest version available.
Unzip the downloaded file to a location convenient for you.
Step 2 – Configure the miner
After extraction, in the same folder as srbminer.exe, you need to create a file with the extension .bat or edit the finished one. In this case, you need to enter the following commands:
SRBMiner-MULTI.exe —disable-cpu —algorithm autolykos2 —pool ergo.herominers.com:10250!ergo-eu.leafpool.com:1111!pool.coinfoundry.org:3036!pool.woolypooly.com:3100 —wallet 9gj5rYtg1sGwdvoXGJswrSfPBXiXJgmyjZVEQ9p5fvZrCAfu6zT —gpu-boost 3 pause
Just replace gj5rYtg1sGwdvoXGJswrSfPBXiXJgmyjZVEQ9p5fvZrCAfu6zT with your Ergo wallet address.
Bat file is created in any text editor.
Step 3 – Run the miner
The program is launched in a standard way: double-click the left mouse button on the file with the .bat extension. After starting, a window opens with an indication of all the entered parameters. There will be enough of them to start mining tokens. Just double click it, a terminal window will pop up and you start mining!
The bottom line displays the hash rate.
Mine on a processor? Read about setting up Xmrig miner and Cpuminer-Opt.
Ergo (ERG) mining profitability in summer 2021
You can see the profitability or profit when mining Ergo (ERG) in the calculators. The screenshot below shows the profitability of my farm, which consists of two 4 GB AMD RX574 and RX474 cards as of 05/11/2021.
Ergo Price Indicators
As of July 22, 2021, Ergo ERG costs $ 4.98. This is 5.1 thousand percent higher than the minimum rate of 9 cents recorded on March 13, 2021, but at the same time 83 percent lower than the record $ 29.58. This is how much the cryptocurrency was worth on April 27, 2018, according to Coingecko.
Although this breakthrough is not visible on the graph: in April 2021, they gave about 5-6 dollars for ERG.
The local Ergo peak in 2021 was recorded on May 19. Then they gave $ 18 per coin.
ERG has grown by 1,775 percent over the past year. This is more than the annual growth rates for Bitcoin and Ethereum.
Hashrate and consumption of video cards based on Ergo (ERG)
Average hashrate and consumption of different video cards when mining Ergo (ERG) on the Autolykos2 algorithm:
- AMD RX474, RX484, RX574, RX584 — 65 MH, 90 W
- AMD RX550 — 19 MH
- AMD RX560 — 25 MH
- AMD RX460 — 29 MH, 47 W
- AMD RX 6900 XT — 115 MH, 142 W
- AMD RX 6800 XT — 120 MH, 207 W
- AMD RX 6800 — 110 MH, 118 W
- AMD RX 6700 XT — 85 MH, 147 W
- AMD RX 5700 XT — 82 MH, 82 W
- AMD RX 5700 — 85 MH, 121 W
- AMD RX 5500 XT — 42 MH
- AMD RX 5600 XT — 65 MH
- AMD RX Vega 56 — 48 MH, 63 W
- AMD RX Vega 64 — 70 MH, 132 W
- AMD Vega Frontier Edition — 75 MH, 196 W
- Nvidia RTX 3090 — 230 MH, 330 W
- Nvidia RTX 3080 — 188 MH, 279 W
- Nvidia RTX 3070 — 153 MH, 143 W
- Nvidia RTX 3060Ti — 144 MH, 149 W
- Nvidia RTX 3060 — 104 MH, 108 W
- Nvidia RTX 2080Ti — 100 MH, 246 W
- Nvidia RTX 2080 — 74 MH, 170 W
- Nvidia RTX 2080 Super 66 MH, 147 W
- Nvidia RTX 2070 Super — 71 MH, 177 W
- Nvidia RTX 2070 — 60 MH, 94 W
- Nvidia RTX 2060 Super — 66 MH, 153 W
- Nvidia RTX 2060 — 50 MH, 101 W
- Nvidia GTX 1080Ti — 83 MH, 162 W
- Nvidia GTX 1080 — 53 MH, 104 W
- Nvidia GTX 1070Ti — 53 MH, 108 W
- Nvidia GTX 1070 — 47 MH, 93 W
- Nvidia GTX 1660 Super — 47 MH, 66 W
- Nvidia GTX 1660Ti — 45 MH, 80 W
- Nvidia GTX 1660 — 40 MH, 53 W
- Nvidia GTX 1650 — 25 MH, 68 W
- Nvidia GTX 1650 Super — 30 MH, 49 W
- Nvidia GTX 1060 — 34 MH, 65 W
- Nvidia GTX 1050Ti — 21 MH
- Nvidia P102-100 — 82 MH
- Nvidia P106-100 – 51 MH
Video cards highlighted in bold can no longer fully mine ETH, nevertheless, they perfectly mine ERG with a good hash rate on the blockchain network.
What is Ergo. Features of cryptocurrency
The developers are positioning Ergo as “smart money” – it is such a replica that meets visitors to the official website of the cryptocurrency. As representatives of the project immediately clarify, they are creating advanced cryptographic features and rethinking the functionality of the popular niche of decentralized finance today. And all this is happening on the basis of a decade of studying and creating blockchains.
In general, the developers focus on six components that set the project apart from what is happening in the cryptocurrency niche. These are the developers’ vision, consensus mechanism, the use of light clients, vitality, economics and project applicability in various fields.
Ergo developers vision
As the project representatives note, they created Ergo in response to the stagnation of the blockchain industry. As a result, they implemented several ready-to-use technical and economic ideas that do not detract from the well-known advantages of the blockchain.
The main goal of the project is to create an efficient and secure environment for the execution of financial contracts, which are the most popular blockchain use case today. At the same time, they promise to get rid of the existing shortcomings of the traditional financial system such as blacklisting users and other forms of discrimination.
That is, in the end, developers want to do something like what Ethereum provides today. It is important to note that Ergo runs on a separate blockchain.
Ergo consensus algorithm
Ergo uses a special consensus protocol called Autolykos, which is based on the Proof-of-Work mechanism. PoW itself was chosen because of its prevalence and high degree of security.
At the same time, Autolykos has a number of advantages and innovations. For example, for mining the native token of the ERG network, 3 GB of memory is enough, which significantly reduces the threshold for entering this niche. The cryptocurrency network also implements a rental mechanism for storing lost and simply forgotten coins.
Ergo light clients
The developers give an example of a full Bitcoin Core wallet, which takes several weeks to sync and download all the data. This is inconvenient, so they added the ability to synchronize light clients – that is, programs for interacting with the cryptocurrency network – by downloading less than one megabyte of data. This means that owners of any equipment can participate in her life.
Ergo developers have prepared the conditions for introducing changes to the cryptocurrency network in the future. For example, miners will be able to vote to increase or decrease the maximum block size, the cost of storing old coins, and so on.
For more fundamental changes, Ergo will be soft-forked. If the majority of the network participants decide to change something, this update will be implemented. At the same time, old nodes that did not vote for the change will continue to function normally and ensure the network is operational. That is, there should be no need for hard forks in Ergo.
Economics of the Ergo project
This is the most interesting part of the project. Ergo’s creators have introduced a so-called storage fee for old coins, which sets it apart from other networks. In particular, if a cryptocurrency has been inactive for four years, a miner may charge a small fee for each byte of information about them stored on the blockchain.
The interoperability is reminiscent of cloud storage platforms, where users pay money to keep their own documents, music and other files available outside their own devices.
This provides several benefits for the Ergo network: first of all, ERG mining will always be stable. The same cannot be said for Bitcoin with a maximum supply of 21 million coins, which, after the last of them is mined, will force miners to completely switch to income in the form of transaction fees. In this case, Ergo miners will have an additional source of income.
Secondly, the controlled and predictable size of the blockchain will reduce the hardware requirements for miners. Finally, thirdly, the collection of fees for obsolete coins will allow returning the cryptocurrency out of circulation back. And this makes it impossible for a significant drop in the supply of cryptocurrency over time due to lost private keys.
The breadth of the Ergo network
Ergo representatives want to make the network a popular place for smart contracts to work. The project script is notable for its Turing completeness, which means that, in fact, the capabilities of applications based on the project are unlimited in their functionality.
Mine ERG on Windows on Nvidia and AMD cards
BAT file for Nvidia cards under Windows: