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Ethereum Network Hashrate

Is Ethereum Mining Profitable In 2018?

Is Ethereum Mining Profitable In 2018?

In this article we will try to figure out the profitability of Ethereum mining As the price of Ethereum isaround $1000 you may be wondering to yourself whether its worthwhile to mine ETH. Like Bitcoin, Ethereum is a proof-of-work coin that uses miners to confirm network transactions. The profitability of mining varies from person to person and changes over time usually becoming less profitable as the coin matures. In this article we will try to figure out the profitability of Ethereum mining. There are three important factors to consider: In a word, your mining rig needs to solve a mathematical algorithm to mine Ethereum. The mining difficulty of the network is a measurement of how difficult this algorithm is to solve. The higher the difficulty, the less Ethereum you receive for each unit of energy the GPU on your mining rig expends. As more miners join the network the difficulty increases. The Ethereum mining difficulty had been steadily increasing since the beginning of December with 1,500TH to ~2,500H. EtherscanEthereum Block Difficulty Growth Chart The daily block rewards of ETH have hardly changed since December and it is currently ~20.339 ETH. The hashrate is the speed in which your mining rig can solve the mathematical algorithm needed to validate a transaction. Miners with a high hashrate usually come with a high price tag, but they also typically use more electricity as they operate which could further drive your costs up. Average hashrate of ethereum network has increased since December from ~125492GH/s to ~203394GH/s, which is the highest rate of all time at the moment. Etherscan Ethereum Network HashRate Growth Rate Each mining rig works at a different level of efficiency and uses a variable amount of electricity. On the low end, miners typically draw ~100 Continue reading >>

The Night Poloniex Listed Ethereum Classic

The Night Poloniex Listed Ethereum Classic

The Night Poloniex Listed Ethereum Classic Note: The following is a story of the events that led to the survival of the original Ethereum chain after the hard fork related to The DAO incident was activated. The story is told from the perspective of the author. Within hours of Ethereums hard fork to reassign funds away from the hacker who found a loophole in The DAO , the event was deemed a success by a wide-ranging group of individuals in the blockchain ecosystem. Ethereum creator Vitalik Buterin was popping champagne , and Coinbase CEO Brian Armstrong was tweeting about the merits of hard forks as an upgrade mechanism for blockchains. At the time, there were only a few holdouts who were interested in preserving what many thought to be Ethereums original social contract of unstoppable code. One of those holdouts was self-described crypto-anarchist Wiz . On the 21st of July, I received a message from Wiz claiming he was impressed that Ethereums hard fork worked out. He then shared a photo of a block explorer showing that he was one of the top 25 Ethereum miners. I was a bit surprised to see the original chain die so quickly, as I had previously tweeted that I expected two chains to result from the fork. I guess what we learned is that you just need to get the top five pools onboard and youre good, said Wiz. At the time, those five pools made up over 90 percent of Ethereums network hashrate. The former managing director of WizSec then questioned if Ethereum is basically centralized among ten people. I guess if I grew my pool by 5x size, I could get in the top ten and at least have a voice, he added. But [Id] still overwhelmingly be outvoted. At this point, I also pointed out that exchanges essentially blocked the voice of the Ethereum stakeholders who may have been again Continue reading >>

Mining Difficulty And Network Hashrate Explained | 2miners Blog

Mining Difficulty And Network Hashrate Explained | 2miners Blog

Mining Difficulty and Network Hashrate Explained Let's try to understand what network difficulty and hashrate are. I'm in Crypto World, literally, for three months. I'm still not going to claim that I have a super knowledge. It was challenging for me to understand the principles of the cryptocurrency networks, so I decided to share my perspective on them. There are a lot of chats out there on the subject of cryptocurrency mining and trading. A typical question for any newbie would be something like, "which ASIC to buy or which mining rig to build," and the response is: "Take a look at the growing difficulty of the network and don't even think about getting into this business!" Lets have a look at the hashrate and difficulty of a Musicoin blockchain (similar to Ethereum, same as a Dagger Hashimoto algorithm). The values are smaller than you think, so I hope it will be easier for you to understand the idea this way. Each cryptocurrency network has a block time parameter. In Musicoin the block time is 15 seconds. Lets assume that all miners around the world are solving a big puzzle. Each piece is called a block. A musicoin block is found every 15 seconds in an ideal world. But this is not the case, so sometimes it could be 1 second or even 1 minute. However, the average block time is 15 seconds. How is this parameter being held regardless of the number of miners that connect to the network? It is evident that if there are lots of miners, they should find blocks frequently (here is an example of an empty block at UBIQ ), and if there are only a few miners, the blocks will be rare, and the network transactions will take a very long time. Currently, a miner or Mining Pool (many miners working together) receive 309 Musicoin coins ($13) for one solved Musicoin block. In the Et Continue reading >>

Ethereum Hashrate Chart

Ethereum Hashrate Chart

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Explaining Hash Rate Or Hash Power In Cryptocurrencies

Explaining Hash Rate Or Hash Power In Cryptocurrencies

Explaining Hash Rate Or Hash Power In Cryptocurrencies By: Sudhir Khatwani In: Bitcoin Last Updated: If you are new to the world of cryptocurrencies, I guess you would have heard this number of times that Bitcoin s hash rate, also referred to as hash power, has increased or come down. Does the term make you wonder what it actually means? I actually used to wonder in my initial days as to what Bitcoins hash rate/power actually means. And eventually, after learning a lot of stuff about Bitcoin, I was able to understand the reference. Hash rate or hash power is something very critical and integral to Bitcoins network for a number reasons, that I will explain further in this article. But before that, it is very important that one understands what this actually means because by doing so one will be able to naturally understand why this hash rate/power matters so much. Note: Hash rate/ hash power is used in every cryptocurrency that is proof of work but for this example, I am using Bitcoin because most of us naturally connect to this cryptocurrency. Hash Rate, also Hash Power, is the measuring unit that measures how much power Bitcoin network is consuming to be continuously functional. By continuously functional I mean how much hash power is it consuming to generate/find blocks at the normal mean time of 10 minutes. If you remember, in my previous article What is a Bitcoin hash I explained thoroughly that Bitcoin network consumes a lot of energy because it has to solve mathematical intensive computations regularly to find the blocks. These computations for finding the blocks are basically mathematical puzzles that a miner cannot just guess without a lot of computation. To successfully mine a block, a miner needs to hash the blocks header in such a way that it is less than or Continue reading >>

Bitcoins Network Hash Rate Has Doubled Since October

Bitcoins Network Hash Rate Has Doubled Since October

Bitcoins mining difficulty increased by 16.6 percent over the weekend, signaling that the networks overall hash rate has also increased by a similar amount over the past two weeks. The networks total estimated hash rate has essentially doubled since the middle of October. A large chunk of this increase has taken place over the past month, where the hash rate has increased by more than 50 percent. The network hash rate is the total amount of computing power pointed at the Bitcoin network. Pools That Saw Their Share of Total Hashing Power Increase Its difficult to know where exactly this new hashing power is being deployed, but it is possible to see the differences in mining pools shares of the overall hash rate. When comparing the most recently completed difficulty period with a run of 2016 blocks from the middle of October, GBMiners is the pool that saw the largest amount of growth. GBMiners enjoyed an increase of 62 blocks compared to the total set of 2016 blocks from October. Recently, it was found that GBMiners is connected to a Ponzi scheme disguised as a bitcoin cloud mining operation in India. Since October, BTC.TOP has grown from nothing to roughly 3 percent of the network hash rate. Batpool also emerged during this period of time to grab a little over 1 percent of the network. Not much is known about either of these China-based pools, other than the fact that ltc1btc.com Founder and CEO Jiang Zhuoer is behind BTC.TOP and does not much care for Bitcoin Cores Segregated Witness improvement . Both GBMiners and BTC.TOP signal support for Bitcoin Unlimited as opposed to Bitcoin Core . Bitcoin Unlimited is software that intends to replace Bitcoins 1 MB block size limit with the concept of emergent consensus . At this time, it is unclear if this new digital currency n Continue reading >>

Ethereum Network Hashrate Growth - Bitcoin Game In Android, Bitcoin Worth 100 000, Ethereum Wallet On Pc

Ethereum Network Hashrate Growth - Bitcoin Game In Android, Bitcoin Worth 100 000, Ethereum Wallet On Pc

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Nvidia: A Cryptoticking Time Bomb - Nvda | Seeking Alpha

Nvidia: A Cryptoticking Time Bomb - Nvda | Seeking Alpha

Altcoin related GPU sales have been a massive contributor to Nvidia bottom line and management continues to skirt the topic. Unlike AMD, market darling Nvidia's stock is not priced for a major GPU inventory correction which will play out over next year. EULA modifications, secondary card market prices, and network hashrate data for ethereum, zcash, and monero are all ample evidence of a speculative mania behind high-end GPU sales. Nvidia (NASDAQ: NVDA ) reported an eye-popping quarter last week with impressive surge in revenue and even more impressive surge in profits. This was, of course, to be expected considering crypto mania the past few months, but as has been the case with Nvidia management throughout the crypto-coin rush very little credit was given to this manias impact on their business. Here is what they attributed revenue growth to in their earnings PR: "new games, holiday-season demand, iCafe upgrades, esports and cryptocurrency mining." Notice what came last here - crypto mining - right after icafe upgrades and esports! The conference call was even more telling with the CFO simply saying crypto demand was "higher percentage of revenue" but "difficult to quantify." Here is the thing about crypto mining - the one thing it isn't is "difficult to quantify." It's a bunch of GPU's with certain performance specs solving pre-determined mathematical calculations. If anything, it's quite easy to quantify. Let's say we took the 3 main GPU mined coins Ethereum, Monero, and Zcash and estimated what their network hash rate increases since Nov 1, 2017 worked out to in equivalent Nvidia Geoforce GTX 1070 8GB cards (one of the most power efficient Ethereum GPU miners out there today). That's 5.17 million GTX 1070 equivalents that have come online for mining in the past 3 m Continue reading >>

Can Ethereum Classic (etc) Acheive Parity Or Even Exceed Ethereum's (eth) Price And Network Hashrate?

Can Ethereum Classic (etc) Acheive Parity Or Even Exceed Ethereum's (eth) Price And Network Hashrate?

The listing of ETC on several major exchanges has created quite the stirring response from the community. With a total trade volume of over 120,000BTC for the past 24 hours, its clear that there are many who still believe in the immutable pre-HF blockchain. Several large miners are also voicing their opinions as they switch their hashing power over to the significantly more profitable non-forked blockchain. Current ETC difficulty is at 12.78% of ETH, which means that even though ETC's current price sits much lower than ETH, the lower difficulty compensates for the disparity quite significantly. Ethereum's total hash rate has dropped over a staggering 20% from Sunday's all time network high of 4449 GHs. The network hash-rate currently sits at just above 3500 GHs, with the ETC network hash-rate breaking 700GHs already. ref: My question is do you think ETC will ever achieve parity or even exceed ETH in terms of price and total network hash-rate? Or consider the possibility of both coins co-existing? We have encountered new territory in the world of crypto-currencies. picture courtesy of: Downvoting a post can decrease pending rewards and make it less visible. Common reasons: Continue reading >>

The 3 Best Ethereum Mining Pool Options

The 3 Best Ethereum Mining Pool Options

So, youve heard that mining Ethereum can be a profitable business and may have bought a mining rig. Your next step should be to join an Ethereum mining pool. Mining pools are simply groups of miners that work together to mine Ethereum . Joining a pool helps to lower the volatility of your payouts by providing smaller, more frequent payments rather than a lump sum that you only receive when a block is solved. When choosing a mining pool, its important to join one with low fees that brings reliable returns. You should also consider the server location of the pool when deciding which is best for you. The closer your mining rig is to the server, the more efficiently it can mine. In this article, I highlight three of the best Ethereum mining pools so you can confidently decide which one to join: For a complete list of the available mining pools, check out EtherChain . Ethpool and Ethermine are operated from two different websites but contribute to the same pool. With ~25.0% of the network hash rate power, this pool is the largest one on the Ethereum network. Ethermine currently has over 62,000 miners using the pool software while Ethpool has a little under 900. Both Ethpool and Ethermine charge a 1% fee on each reward that you receive one of the lowest fees of the pools I researched. Ethermine allows you to set the minimum payment threshold needed to receive your rewards. If you want to receive your payments infrequently, you can set the threshold to the maximum of 10 ETH. Set your threshold to the 0.05 ETH minimum to receive payments more often. Nanopool is the third largest mining pool with ~13.2% of the network hash rate and over 38,000 miners. The pool fee is also less than most competitors at 1%. The default minimum payout threshold using Nanopool is 0.2 ETH, but youre Continue reading >>

Ethereum Has A Miner Consolidation Problem

Ethereum Has A Miner Consolidation Problem

Ethereum Has a Miner Consolidation Problem Join our community of 10 000 traders on Hacked.com for just $39 per month. Ethereum, a public blockchain platform which boasts its smart contract technology, represents a decentralized virtual machine executing peer-to-peer contracts with its native digital cryptocurrency Ether (ETH). But, just how decentralized with it? A quick analysis of the network demonstrates that the phenomenon which has terrified bitcoiners for so long has taken hold on the Ethereum network. Bitcoin is not the only blockchain encumbered by mining centralization. The Ethereum miners have consolidated in a more dramatic fashion. While many cryptocurrencies used Scrypt, Vitalik Buterin believed Scrypt was not memory hard enough to use for the alt. currency network. So, Ethereum launched Dagger, a prototype proof of work that is even more memory-hard than Scrypt, as well as prototype proof-of-state algorithms such as Slasher that get around the issue of mining entirely. In 2014, Buterin outlined the plan to ensure Ethereum mining was the most secure option: We intend to host a contest, similar to the contests that determined the standards for AES and SHA3, where we invite research groups from universities around the world to devise the best possible commodity-hardware-friendly possible mining algorithm. Regardless of any efforts to ensure Ethereum remains decentralized, it appears the network is very centralized; much more so, even, than the Bitcoin network, which has been worried about miner consolidation in China. The largest Ethereum miner, DwarfPool, allegedly took to Reddit to assuage concerns that they controlled the Ethereum network, since 47.9% of the networks hashrate is distributed there. The poster did not see a problem with the situation: Techn Continue reading >>

Bitcoin Users Vent Frustration As Hashrate Drops 50 Percent In 4 Days

Bitcoin Users Vent Frustration As Hashrate Drops 50 Percent In 4 Days

Bitcoin Users Vent Frustration as Hashrate Drops 50 Percent in 4 Days Bitcoin Cash appears to be taking its toll on the Bitcoin network as transaction processing power slows by half. Bitcoin (BTC) users are complaining of slow and expensive transactions as a 50 percent loss of hash rate brings the network to a standstill. Data from Blockchain.info flagged by trader SatoSqueeze shows a halving of BTC hash rate from 8,000 to 4,000 petahash in just four days. That explains most of the unconfirmed transactions, the user adds. #Bitcoin hashrate dropped 50%+ from 8,000 Petahash to 4,000 Petahash in the past 5 days. That explains most of the unconfirmed transactions pic.twitter.com/sxOBlmiHJp SatoSqueeze (@cryptoSqueeze) August 23, 2017 Multiple reports of BTC transactions taking hours or days to confirm are surfacing on social media. The pattern is reminiscent of the network congestion of previous months when Bitcoins mempool expanded to record highs. This time, however, the delays are due to lack of power in the face of competition from Bitcoin Cash (BCH) , which is luring miners with significantly greater rewards. Commentators have criticized BCH for undermining the BTC network in an issue which continues to present intense debate. BTC is finding 4 blocks an hour. #BitcoinCash is finding 43 blocks an hour. Satoshi was right. Miners will mine the more profitable chain. Michael Matthews (@mikerelentless) August 22, 2017 The latest problems for BTC are translating into higher fees as well as waiting times for users meanwhile, with the most recent recommended fee rate from 21.co at 450 satoshis per byte. This rate is four times higher than the recommended rate just weeks ago and matches that at the height of the mempool crisis in May and June. Continue reading >>

Bitcoin Network Hashrate Surpasses Four Exahash Per Second

Bitcoin Network Hashrate Surpasses Four Exahash Per Second

Bitcoin Network Hashrate Surpasses Four Exahash Per Second The Bitcoin ecosystem is thriving as the decentralized network continues to break new records in 2017. This month the Bitcoin networks hashrate surpassed over four exahash per second adding one more milestone to the record books. Also Read: Bitcoin Startups Believe Africa Is Fertile Ground for Crypto-Solutions The bitcoin mining environment has grown massive with many participants and pools competing to process transactions so they can earn fresh new bitcoins. The mining process has evolved from individuals mining on their computers at home to mega-sized data facilities located all around the world filled with thousands of machines. Over the past year and four months, bitcoins hashrate has entered the exahash era as the network processed one exahash per second in January of 2016. Now the miners collective hashrate is over four exahash per second or 4,216,797,036 GH/s ,surpassing the most powerful supercomputers in the world. Bitcoin Hashrate according to Blockchain.info May 8, 2017. An exahash solves 10^18 hashes (problem-solving with algorithms) per second which means the networks hashrate is processing beyond exascale computing speeds at over four quintillion hashes per second. According to research , exascale computing technology will grow exponentially in 2018, and the bitcoin network became one of those technologies when it surpassed 1.5 exahashes per second in mid-2016. The introduction of new mining chips and the growth of mining pools has led many people to believe bitcoin is the most secure computational network in history. Mining Revenue Is up, Network Difficulty Is High, and There Are More Pools Than Ever Before Bitcoins rise in fiat value has helped push mining to new levels over the past year. Acco Continue reading >>

Ethereum Miners Are Selling Their Graphics Cards

Ethereum Miners Are Selling Their Graphics Cards

Ethereum Miners Are Selling Their Graphics Cards The digital gold rush for cryptocurrencies like ethereum has caused a scarcity of graphics cards , and PC gamers are mad. Products made primarily for gaming happen to be really good at crunching the numbers required to mine digital currency, and miners have been buying up all the graphics cards. Can you blame them? From April of this year through the middle of June, this is what happened to the price of ethereum: So miners bought up every modern graphics card they could find, especially popular mid-range cards like the Radeon RX 480 and 580, and GeForce GTX 1060, which are on the affordable end of graphics cards that can handle the latest video games. These cards hit the sweet spot for price and performance, both for miners and for gamers. Suddenly, there was a scarcity of cards and prices skyrocketed. But over the last month, etherium has lost half its value. At current ether prices, those multi-GPU mining rigs just won't pay themselves off as quickly. And so, as they have done in the past when mining with certain GPUs became far less profitable , the miners have started to sell off their equipment. Ebay listings for "ethereum mining rig" number 288 at the time of this writing. Some are just frames and others are new. A quick search on eBay also shows that there were 57 completed sales for "ethereum mining rigs" in May, 120 completed sales in June, and 277 in July so far. One explanation is that interest in ethereum is so high eBay sellers are simply moving more mining rigs to meet demand, but item descriptions and the sellers I contacted tell a different story. Consider this listing for a rig containing six RX480 GPUs. The seller says, "Selling my mining rig (currently mining ethereum) which I built a little over 3 mon Continue reading >>

How To Get Eth Network Hash Rate From Etherscan Api?

How To Get Eth Network Hash Rate From Etherscan Api?

How to get eth network hash rate from Etherscan API? Hi, Etherscan shows entire data graphically till date, the hashrate of the network is shown here: etherscan.io/chart/hashrate and keep your mouse on the chart for daily reading. Thanks Kishore Dec 7 '17 at 3:57 Thanks for your response. I need an API my server can call to on an interval. Manually doesn't work for my use case. Will Christman Dec 7 '17 at 6:12 You can use the following EtherChain API : The network hash rate is likely calculated. There does not appear to be an API for retrieving the network hash rate. Hovering over the network hash rate value on the home page says that it is averaged over the last 5000 blocks. The formula for computing the network hash rate is: You could estimate the Avg Block Time by using that value from your own output and see how that compares to the numbers on Etherscan. Etherscan also provides links to CSV files for their charts at the bottom of each chart page. You could download the CSV data for the Difficulty Chart and the Average Block Time Chart and do the computation yourself or directly download the Hash Rate Growth Chart Data directly. It looks like it gets updated every 5 mins. Continue reading >>

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