LKS Foundation

Science & Technology

Mining LKSCOIN in official pools, new bonuses and instructions

2020-05-08 09:08:31

LKS Foundation has released its two official pools that you can join to mine new tokens

There is still one month to go until the end of LKSCOIN's IEO and so far the campaign has got a good response from all those who want to be part of the revolution in the world of copyright by "buying" a first-class seat on this journey.

It is essential to support an environment and a network, where individuals can be sure to find reliability and, above all, resistance to external attacks, especially today. The incentive to honesty is the force that most people would always like to find, but unfortunately it can be betrayed because of the actions of a few.

With LKSCOIN and the roadmap that is in front of us, we want to achieve excellence and provide a means by which to disseminate original and informative content. And so we want to ensure that authors get paid fairly.

To support this angle of efficiency and reliability, and subsequently spread it like wildfire, it is not only important to participate in the IEO but also in the economic/social life of the LKSCOIN project. To get involved in this way means to join the category of users who actively mine LKSCOIN and, while doing so, keep the blockchain safe and resistant.

In this regard it is useful to know that LKS Foundation has released its two official pools that you can join to mine new tokens:

  • pool.lkschain.io
  • pool2.lkschain.io

The adventure with LKSCOIN, in fact, will not end next month at the end of the IEO.

Indeed, it will be the beginning of the maturation process of LKSCOIN and consequently all those who want to be protagonists of this growth, or obviously profit from it, can take advantage of these pools and start to mine.

LKSCOIN is an innovative cryptocurrency based on the Dash-derived x11 algorithm, whose Block-Reward is 500 LKS. Bonus blocks are added to these rewards, resulting in further disbursements every approximately 9 days.

The Proof of Stake is the protocol by which new blocks are mined. Users can do it thanks to the Masternodes, which not only guarantee a reward but also the security of the LKSCOIN blockchain. Remember, the Masternodes are responsible for certifying transactions and blocks and for validating instant transactions.

To encourage as many users as possible to mine LKSCOIN in its official pools, the LKS Foundation has decided to promote the "1000 LKSCOIN / TeraHash daily" initiative to miners.

Mining in one of the pools of the Foundation provides earnings to the Masternodes, therefore there is a triple advantage: you earn from your mining activity, you earn from the bonus that the Foundation gives for each Terahash and you earn by reflection in the Masternodes.

But how can all those who do not have adequate equipment participate by renting terahash?

How to mine LKSCOIN

The first thing you will need to do is to open an account on the MiningRingRentals website.

Once the web page in question has been opened, registration must be carried out. Then click on the button at the top right "Sign Up"

Once you have entered the required data (username, mail, password, pin and confirmed the email) you will have to select the mining algorithm. The LKSCOIN token uses the encryption of the x11 algorithm.

Then select "Rigs" as illustrated below:

Scroll down until you find the "X11" algorithm and click on it. The following screen will appear:

It is advisable to evaluate an estimate of the rental and make a comparison between the various offers.

Then click on the "More Options" as shown in the image below:

In this example, the best rental price will be evaluated on a theoretical power that oscillates between 1 and 2 TeraHash and considering a payment method in Bitcoin.

In addition to Bitcoin, Ethereum, Dash, Litecoin and BitcoinCash are accepted.

Click on "Apply Filter" and obtain the result. Then sort the list by "Price / GH / Day" in ascending order.

Select "Rent Now" of the first one, as it is the one rated as the best both for the daily price at Giga Hash and for the average return (96.5%).

In the window about the rental of the chosen Ring, enter the number of hours you wish to purchase, as illustrated in the slide below-.

The maximum number of hours available is determined by the renters themselves.

In this example, 96 hours have been chosen, the maximum available, equal to: 0.02570400 Bitcoin.

Enter the desired values and then press "Rent Now".

Since the newly created account will not have enough credit, a pop up will appear to remind you of the absence of available funds and therefore of the impossibility of proceeding with the rental.

At this point, you have to load funds to your account. Click on the button with the Bitcoin symbol at the top right.

Click on the Bitcoin record.

Scroll down on this page, and you will find the public BTC address with the related QRCode where to send the funds required for the rental.

Once the funds are received in your miningringrentals account, you will have to perform all the operations described above, from choosing the best offer to confirming the rental.

Once all the operations have been performed, you must enter these 3 elements in the mining settings window:

  • The mining pool with related port: 
  • Pool.lkschain.io:3257
  • The username, i.e. your LKSCOIN address (example: Xiv3qbaEoud71AhFtGbaHakDuUA1yCufxt)A password of your choice, e.g. 123

Once the required data has been entered, press “Save”.

At this point the rented Ring of 2 TeraHash will start working.

You can keep track of whether your Miner is working properly, both through the portal itself and on the related page of the mining pool, at the address: pool.lkschain.io.

The pool will automatically send payments to your LKSCOIN address - the address set in the previous point - on a regular basis.