Catalyst: Mine Altcoins, get Bitcoin.
Catalyst allows miners to get paid in Bitcoin with any alt-coin miner. If your machine can mine one of our supported coins, then you can mine Bitcoin today. Just register for a user account, turn on Catalyst, and start earning satoshis.
How to enable Catalyst?
Enabling Catalyst is extremely simple, you need:
- A Luxor account
- A Bitcoin Wallet Address
- Mine one of our supported Altcoins
If you don’t have a Luxor Account start by signing up. Check our User Accounts step-by-step Setup Guide.
After you login into our platform, you’ll need to add a Bitcoin address. To do so, navigate to the My Account section, enter a valid address and define your payment threshold. Payment thresholds can be as low as 0.005 Bitcoin to as large as 0.1 Bitcoin.
Then, go to your desired altcoin of choice, click on the settings button and then enable Catalyst. Is as simple as that!
Catalyst is enabled to work with Sia, Decred, Zcash, Horizen, LBRY, Komodo, Monero and Grin. We will add more coins in up-coming weeks, stay tuned.
How does it work under-the-hood?
Implementing Catalyst added a lot of complexity on our back-end infrastructure and required a lot of behind-the-scenes work to provide end-users with an easy-to-use feature.
The mining process remains untouched. Miners start hashing one of the supported altcoins and their account gets credited altcoin through our PPS reward structure .Catalyst affects how we pay out mining rewards. Instead of receving an altcoin we now price and buy your hashrate directly in Bitcoin.
Catalyst vs Nicehash
Nicehash requires an active group of sellers and buyers to continuously find an efficient price. You take on high-fees on both ends of the trade.
Nicehash removes from miners the ability to determine how and which blockchain they want to secure. Miners sell their hashing power to one centralized entity that handles their hashrate at their own will.
Catalyst, on the other hand, gives back that power to miners. The miner is on control of their hashrate and they can choose to secure any network with their hashrate at a lower fee and while being rewarded in Bitcoin.
Luxor is building infrastructure to support the next generation of digital assets. Learn more about us 👉 here.