How to Mine Loki: Complete Beginner’s Guide
Loki is a privacy coin that is based on Monero. Because of this, Loki has Monero’s privacy features, Ring CT built into it. The added improvements that Loki offers are, one can run private decentralized apps on the coin. The first SNApp will be a messaging service. Loki will also allow users to build SNApps on the network, using an SDK that is to be released around March 2019. This coin reminds me of Zencash, and it is interesting to see this type of coin on the RandomXL algorithm.
Technology
Loki combines a private transaction network based on Monero with economically incentivised service nodes to create a trustless quorum based networking protocol. This protocol allows anyone to route small packets of data in an anonymous and decentralised way. The front end applications that use this packet routing system are private-by-design, and are known as Service Node Apps “SNApps”; the first of which is the Loki Messenger — a decentralised, anonymous and private messaging service.
Value Proposition
A private-by-default protocol that builds on proven cryptographic schemes and allows the creation of decentralised, resilient and oppression-free apps for real-word use.
Loki Messenger
Using the Signal protocol, this private messaging service will be implementing cutting edge encryption schemes including Off The Record messaging and Axolotl Ratchets. This will enable Loki Messenger to be the only fully decentralised service with perfect forward-secrecy and deniable authentication.
Roadmap: https://loki.network
Now that we know the details about Loki, let’s get to mining some LOKI!
Loki is a privacy network which will allow users to transact and communicate privately and anonymously over the internet. Users will be able to build applications on the Loki platform, including messaging services, online marketplaces and social media platforms. These services will incorporate privacy and data security by default, features which are often at risk on traditional online platforms. Loki maintains the belief that privacy is human right and aims to empower all individuals to control their digital information by creating privacy tools which can be used by anyone.
Why Loki? Privacy Tools Loki has a range of uses besides private transactions, which include untraceable internet browsing, anonymous communications and instant transaction confirmations. Private Applications Host a suite of private hidden web applications (SNApps) on Lokinet. An Iincentivised network A hybrid proof-of-work / proof-of-service system offers a unique way to financially incentivise the operation of full nodes. This means a faster, more private and attack resistant network. Service Nodes Service Nodes do the heavy lifting on the Loki network and get a significant financial reward for their efforts. With Service Nodes you can host services, run SNApps, and browse the Lokinet. Get paid to make the internet a more private place. Lokinet Lokinet is a unique, blockchain enforced and incentivized mixnet, where you can browse the internet anonymously visit and host private websites all without exposing your identity or IP address. SNApps (Service Node Applications) SNApps allow you to host hidden private web applications inside of Lokinet. With SNApps you can build censorship resistant social media platforms, news sites, marketplaces and other communities. The possibilities are endless. Loki Messenger Loki Messenger is a decentralised private messaging application for all platforms. Have peace of mind with anonymity and an unstoppable messaging app. Coin Info Block Time (Difficulty target): 120 seconds Hashing Algorithm: Randomx-Loki Block Size: Dynamic Block Rewards: 50% Miners, 45% Service Nodes and 5% Governance Elliptical Curve: Curve25519 Premine: 15% premine (22.5 Million LOKI in which 6 to 7 Million locked up). First 100 blocks have been mined before the release out of which 15% premined in the first block.
Loki Mining:
Those who have no idea about mining can easily start mining by watching this video.
Loki Mining Pool: https://loki.herominers.com
You don’t know how to start Loki mining? Just watch this video.
SRBminer-Multi v0.4.7+ (Windows, Linux, CPU)
Run guided_setup.bat file and answer questions:
Configuration name: loki-herominers
Enter the algorithm name you want to use: randomxl
Address and port of mining pool: loki.herominers.com:10111
Is this pool using SSL/TLS encryption? n or y (optional)
Is this a nicehash pool? n or y (optional)
Wallet Address: YOUR_WALLET_ADDRESS (can be ADDRESS+PAYMENTID or ADDRESS.DIFF or ADDRESS+PAYMENTID.DIFF)
Password: YOUR_WORKER_NAME
Do you want to enable logging? n or y (optional)XMRig v6.2.2+ (Windows, Linux, CPU, GPU)
Example start.cmd
@echo off
xmrig.exe --donate-level 1 -o loki.herominers.com:10111 -u YOUR_WALLET_ADDRESS -p YOUR_WORKER_NAME -a rx/loki -k
pauseXMR-STAK-RX v1.0.5+ (Windows, Linux, CPU)
Run xmr-stak-rx.exe file and answer questions:
Use simple setup method? (Y/n) y
Please enter the currency that you want to mine: loki
Pool address: loki.herominers.com:10111
Username (wallet address or pool login): YOUR_WALLET_ADDRESS (can be ADDRESS+PAYMENTID or ADDRESS.DIFF or ADDRESS+PAYMENTID.DIFF)
Password: YOUR_WORKER_NAME
Does this pool port support TLS/SSL? Use no if unknown. (y/N) nExample pools.txt
"pool_list" :
[
{"pool_address" : "loki.herominers.com:10111", "wallet_address" : "YOUR_WALLET_ADDRESS", "rig_id" : "", "pool_password" : "YOUR_WORKER_NAME", "use_nicehash" : false, "use_tls" : false, "tls_fingerprint" : "", "pool_weight" : 100 },
],"currency" : "loki",
