We will first start by explaining what Sia is. This is a decentralized network used for the selling and purchasing of computer storage space. Users within this network pay for services rendered using the cryptocurrency commonly known as Siacoin. Just as Bitcoin relies on miners so does the Sia network. In this article we will show you how to mine Siacoin.
Mining Siacoin, if done correctly, can prove to be quite an effective way to earn a significant amount of extra income. Siacoin prices currently range from $7 US Dollars per thousand Siacoin. The procedure of how to mine Siacoin starts with installing the required software which should take between 5-10 minutes. The latest software versions include: CUDA v.8.0.61, Sia-UI v.1.2.1, Marlin v.1.0.0 and OpenCL 2.0. These are currently the most dominant software verison used in mining this certain type of cryptocurrency.
The next thing you will need to do is find the the graphics card type, which sometimes is referred to as a graphics processing unit, suited for you. Different graphic card types require different softwares.
You will need to know the steps required to determine your graphics card type. So far as we can see, how to mine Siacoin is not that hard. It is good to note that if you possess an AMD graphic card you will need to install OpenCL, however, if yours is the NVIDIA type then your best bet would be to use CUDA.
For Siacoin mining to run effectively, a Siacoin miner will be required. You will need to install the proper library for the chosen mining software to run smoothly with your computer’s graphic card type.
There are quite a number of Siacoin miners to pick from, but most if not all of them offer similar performance and feature settings. The most effective one is the Marlin miner due to the fact that it is compatible with OpenCL and CUDA, but you can always check out the other miners on offer.
After this you will need to create a Siacoin wallet, so that you can start mining.
Coins earned in this network are stored in this wallet. The fastest way to generate this wallet is using the cryptocurrency exchange known as Poleniex. Once this is done you can begin to start the mining process.
The above information should fully answer the question on how to mine Siacoin. Hurry up and go make that extra buck!
