Mining is the process of extracting cryptocurrencies from the blockchain system. Simply put, this is one of the ways to make money using your computer. How to mine ethereum? A question that interests advanced PC users. The popularity and growth in the price of bitcoins, ethereum and other cryptocurrencies were the result of the development of earnings through mining.
What does it mean
One of the main components of earning cryptocurrency is a good video card. A properly selected GPU can bring a good profit to the miner. How to start mining Ethereum, and what does it mean? The emergence of bitcoins - a new cryptocurrency - was the initial stage in the development of the cryptocurrency industry. Bitcoins broke the stereotypes that digital money and how to earn it are worthless. In essence, a cryptocurrency is an electronic profit that exists on the Internet thanks to a certain constantly active algorithm. The amount of electronic money is limited, so you can only get it through mining. Oftencryptocurrency is compared to gold.
Ethereum is mined by sorting through numbers, each of which has its own hash. If this hash matches a certain pattern (has the required number of zeros), the process of issuing a new cryptocurrency begins, that is, its mining. The peculiarity lies in the fact that it only becomes more difficult to mine cryptocurrency over time. If the miner finds a number or a new block, he gets a reward. The probability of making a profit is higher when the miner uses powerful software, processor or video card.
What is it for
How to mine ethereum on a laptop? In order for the miner to make a profit, and the algorithm to run successfully, you must have a powerful computer. It is better to entrust profit making to GPU video cards that support many parallel pipelines. The complexity of mining cryptocurrency lies in the fact that its popularity is growing rapidly, therefore, information operations are increasing. During the mining process, failures often occur. To avoid them, developers combine computers into a network whose task is to engage in hashing. Computer owners are rewarded for this process. Miners have earned more than two billion dollars in nine years since 2008.
The word maining in English means "mining". The more miners involved in the production of cryptocurrency in the network, the more reliably it is protected fromcyber attacks. A device that calculates cryptocurrency is also called a miner. How to start mining Ethereum correctly? Profit in the mining process depends on the creation of new blocks. Each of them consists of a cryptographic signature formed thanks to a previously created block. A chain of blocks is called a blockchain. Over time, it branches, becomes longer.
Structure
How to mine ethereum on a video card? The basis of this process is to connect powerful computer resources, conduct transactions with cryptocurrency and unite mining participants. In essence, the bitcoin mining procedure is an information processing center. The cryptocurrency system is decentralized, that is, the miners are located during mining in different places on the planet. When new blocks are created, a new cryptocurrency is issued. All participants in this process have their own work, which is to keep the system alive. For this, the miners make a profit.
Instructions
How to mine Ethereum on a CPU? You can do this not only on it, but also with the help of a powerful video card. The minimum amount of RAM for mining on a video card is 1.4 GB. The process of mining cryptocurrency on the processor consists of several steps:
- Ethereum mining requires the creation of a pool. These are sites that specialize in mining Ethereum. Find one and register there.
- In your account, create a worker in the "Worker" section. To do this, enter a name and password, confirm the action. Notforget to write the number of your electronic wallet in the corresponding line. Ethereum will flow there.
- Download a proven mining program.
- Set it up.
The hardest part of the manual is setting up the program. You will need certain knowledge of the operation of the processor, video card, prescribing hashes. For GPU mining, the steps are almost identical.
- Register on the site.
- Create a worker.
- Install an ethereum wallet.
- Download the client program. Unzip the archive, open the "ethminer-opencl" folder, find the "coinmine.cpu" file. Open it in notepad, delete the content and write: ethminer-G-F http://eth.coinmine.pl:3000/enter your workname/password here.
- Save the file.
- The video card will start working (it will heat up, make buzzing sounds). This means that the Ethereum mining process has started.
Pros
How to mine ethereum on NVIDIA? Mining money with a video card has a lot of advantages:
- Passive way to earn money. The miner only needs to run the program.
- Personal data stored on your computer is secure.
- Many available ways to withdraw earned funds.
- Stable and constant income.
- Earnings can be increased through affiliate programs.
- There is no minimum withdrawal amount.
Cons
How to mine Ethereum? This procedure has its own difficulties. This way of earning money cannot be called easy, especially for insecure PC users. The disadvantages of mining include:
- The video card heats up quickly.
- High energy costs.
- Computer may run slower after setting graphics card to maximum output. It is better to indicate average values.
- Profit can be achieved by working on multiple computers.
Ways
How to mine ethereum on a video card? There are several ways to make money with a computer:
- Using a regular computer. To do this, a novice miner needs to download a special program. No additional investments or contributions are required. The main thing is to choose a hardy video card, since the process of mining cryptocurrency takes away most of its power. The user can go about their business at the computer and mine in parallel.
- Through special equipment. It is necessary to buy an integrated circuit for special purposes (ASIC) and create a "farm" for the production of cryptocurrency. The device works actively and brings the miner consistently high income. This method is not cheap. First you need to spend about a thousand dollars to start making decent money.
- With the help of video cards for mining. Users can purchase special graphics cards that feature pure performance. Such models are produced by well-known manufacturers. Asus is one of them.
Reviews
How to mine Ethereum? A question that interests many PC users. Judging by the reviews, cryptocurrency mining using a video card, software, processor is a complex, often useless process. In order to start doing this, you need to have certain knowledge and capabilities. An important role in the production of cryptocurrency is played by a powerful computer. Many are skeptical about mining, because in order to make a profit, you need to spend a lot of time creating blocks. There is no guarantee that the result will be positive. There are a huge number of scammers on the network, the cryptocurrency mining process is often attacked, so few people manage to earn money.
