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How Many Ethereum Blocks Per Day

The Ethereum Miners Making Over R100,000 Per Day

The Ethereum Miners Making Over R100,000 Per Day

The Ethereum miners making over R100,000 per day Ethereum is the second-largest cryptocurrency in the world, according to market capitalisation, and can be mined using consumer graphics cards. This has lead to many cryptocurrency enthusiasts building PCs with multiple graphics cards to mine Ethereum. Depending on the size of your rig, mining Ethereum can be lucrative particularly once you have paid off your hardware, and taken electricity and cooling costs into account. Most miners dont mine alone, however, as it is usually more efficient to mine to a pool. Pools allow miners to share their hashing power, working together to confirm blocks and share block rewards based on the amount of mining power contributed. When you set up an Ethereum mining rig, you can designate a pool for it to mine to and a destination wallet address. The pool reads your mining rig as a single worker and monitors your hash rate and mining income, paying out your earned Ethereum to your wallet at set intervals. If you have invested in multiple mining rigs and they are all mining to the same wallet address, the pool registers them as different workers, but adds their mining power together. Certain Ethereum mining pools list the top-performing miners according to their hash rates, along with their predicted and past earnings. We looked at how much the top miners on the ethermine and nanopool Ethereum mining pools earn in one day as detailed below. It must be noted that a mining address does not necessarily refer to an individual person, and could comprise of multiple people mining to the same address. Estimated earnings per day are calculated based on average block time, average difficulty, difficulty change tendency, and the average hash rate of the miner. Earnings are shown in Ethereum per day, Continue reading >>

How The Mining Pool Works: Pplns Vs. Solo | 2miners Blog

How The Mining Pool Works: Pplns Vs. Solo | 2miners Blog

How the Mining Pool Works: PPLNS vs. SOLO Lets make it clear what mining is and how the mining pool works. We will try to explain it in a simple For Dummies way.Cryptocurrencies run on blockchains. A Blockchain is a sequence of blocks. Each new block is a piece of data. It contains information about the transactions accomplished within the last minutes or seconds (conditionally).Each new block contains a puzzle based on the data from a previous block. This irreversibility makes the blockchain special. These puzzles are being solved by your processors, graphics cards, or ASIC hardware. They are very complicated even for modern PCs, and their solving requires a huge amount of time especially if you are alone. However, we have the invention mining pools to take advantage of this issue. Many mining devices work together in a pool to solve the puzzle, finding solutions for the new blocks. Each device receives a computational task of a significant lesser level of difficulty, and the mining pool checks to see whether or not each obtained solution represents a complete solution of the puzzle or not. At the earliest days of the mining, any processor or GPU had the sufficient power required for finding many solutions per day and getting a reward for the detected block. With an increase of the interest to the cryptocurrencies, the difficulty level of the puzzles also increased, and a standalone PC could not find many solutions anymore. Difficulty level was rising because the reward for the newfound block was growing as well as its equivalent in value. That was the time when miners decided to unite their efforts and create the mining pools. Therefore, even weak devices that are working simultaneously on solving the same puzzle have a chance to find its solution which would enable Continue reading >>

How Will Ethereum Scale?

How Will Ethereum Scale?

Like other public blockchains, ethereumintends to support as many users as it can. The problem is that, today, we don't really know the limits of theplatform. Because of a hard-coded limit on computation per block, the ethereum blockchain currently supports roughly 15 transactions per second compared to, say, the 45,000 processed by Visa. This limitation of ethereum and other blockchain systems has long been the subject of discussion by developers and academics. While ethereum developers might like to highlight how the flexible smart contract platform differs from bitcoin, for example, it isn't unique in regards to scalability. As disappointing as that might sound, there's hope in proposed solutions that havent made it into the official software yet. Ethereum and bitcoin use a combination of technical tricks and incentives to ensure that they accurately record who owns what without a central authority. The problem is, its tricky to preserve this balance while also growing the number of users (especially to the point where average people can use the system to purchase coffee or run applications). That's because ethereum depends on a network of 'nodes', each of which stores the entire ethereum transaction history and the current 'state'of account balances, contracts and storage. This is obviously a cumbersome task, especially since the total number of transactions is increasing approximately every 1012 seconds with each new block. The worry is that, if developers raise the size of each block to fit more transactions, the data that a node will need to store will grow larger effectively kicking people off the network. If each node grows large enough, only a few large companies will have the resources to run them. Despite the inconvenience, running a full node is the best w Continue reading >>

Calculating How Many Blocks Will Be Mined For A Given Hashrate

Calculating How Many Blocks Will Be Mined For A Given Hashrate

5 Ether per block during frontier apparantly. The calculation below is ignoring uncles, it's just for the static block reward. The probability of mining a block should be uniformly Since a block apparantly is mined every minute (the difficulty is adjusted thereto) So after a day you can expect on average yourHashrate / totalHashrate * etherPerDay. The stats currently state 3.1 GH/s as the total hashrate. Assuming yourHashrate = 25 MH/s that yields Then again, I'd estimate the total hashrate to be maybe a hundred times higher when more miners run their rigs. 24*60*5*(25e6/3.1e11) = 0.58 Ether / day. Anything between (and outside of) these values is possible Still open is the question of how likely it actually is to mine at least one of the 1440 blocks each day. If I'm not mistaken, then the geometric distribution applies when asking for how long to wait for a block. Continue reading >>

How To Mine 1 Ether Per Day - Updated - Quora

How To Mine 1 Ether Per Day - Updated - Quora

I believe that Jason Lim s answer is accurate. However, I did the math recently so Ill throw in my numbers. If you can somehow locate your servers in Quebec, Canada; you get hydroelectric power for 8.92/kWh (or 6.62/kWh in USD). Otherwise, try to review your options for power sources. IMHO this factor will significantly impact your risk as it is a recurring cost. For comparison sake, locating the mining servers in Florida would cost at least twice as much, not even factoring additional air conditioning requirements. Within a couple years, this difference adds up to the entire hardware cost. At the time of writing, many of the most popular mining GPUs are out-of-stock worldwide. I found SAPPHIRE NITRO+ RADEON RX 570 4G GPUs in stock from a Canadian vendor for $300 each (or $222 in USD). According to this article: Are the RX570 and RX580 Profitable? - Mining Performance Review - 1st Mining Rig , you can get a hash rate of roughly 30 MH/s from each GPU with 125W of power usage. According to CoinWars, based on todays difficulty, mining 1 ETH per day would require a hash rate of roughly 1600 MH/s. Thats roughly 53 GPUs, for a total cost of roughly $12K in GPUs. Assuming that a mining server supports 7 GPUs, you must partition your GPUs into 8 servers. Conservatively, each server might cost an additional $500 for a motherboard, CPU, cables, RAM, HD and frame. This brings the total hardware cost to roughly $16K. Power will cost roughly $3,500 per year. Consider this ROI calculator: Ethereum Mining Calculator and Profit Calculator . Here is the catch with all of this: ETH mining difficulty is increasing rapidly Ethereum Difficulty Chart and Difficulty History Chart . While this configuration will lend you 1 ETH today, it wont tomorrow. So be careful with any ROI projection. At Continue reading >>

How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification

How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification

solidity blockchain contract-deployment tokens ico there is a function in many ico contracts that allow people to adjust their allow purchase and disable purchase functions according to the current block height, basically a function that opens an ICO and closes it due to block height, but how do the contract deployers know how many blocks are mined everyday? Doesn't this change every week? How do they know to the exact minute when their ICO will end and when it will start? Continue reading >>

Ethereum Mining Profit Calculator

Ethereum Mining Profit Calculator

Projections incorporate difficulty growth. Update themining and market parameters below to recalculate all tables andcharts. Bitcoin version . Also, don't miss the interactive charts below. ETHASH Contracts ($2.20 per 100 KH/s per year) Ethereum is a blockchain appplatform and cryptographic currency.This calculator estimates profits from Ethereum mining by forecastingcosts and future market conditions.See the sections below for more details on the methodology.If this calculator helped you earn money, or avoid losing money,then consider making a donation ! All calculations assume that mining begins immediately at the given difficulty.The default starting difficulty is the current network difficulty obtained from etherscan.io .Difficulty is then assumed to increase daily at a rate implied by the specified biweekly rate.For example, the default biweekly growth rate is 6.18%, which was approximately the average biweekly increase starting after the block reward adjustment in October 2017 and ending in January 2018, and this in turn implies a daily increase of 0.429%. The static reward for solving blocks is fixed over time at the given value (which is 3 ETH in January 2018).The USD exchange rate is held fixed, so the assumption is that all ETH revenues are held and exchanged for USD at the end of the time horizon at the given ETH/USD exchange rate.The default exchange rate is the daily volume-weighted average exchange rate obtained from Bitstamp .The default starting difficulty and exchange rate are updated periodically throughout the day.Transaction fees and uncle rewards are not included in the calculations. The default hashrate, cost, and power consumption are based on a GPU mining rig with 4x Radeon RX 470 8GB cards (100 MH/s, $1,680, 560 W).The cost of electricity is ta Continue reading >>

How Many Bitcoins Are Left?

How Many Bitcoins Are Left?

There are 21 million Bitcoins total of which almost 17 million are in circulation. There are a little over 4 million bitcoins left that are not in circulation yet. What determines how many bitcoins are left? The Bitcoin source code determines how many bitcoins are left. The remaining Bitcoins not in circulation are released to miners as a reward for maintaining the integrity of the network. There are currently close to 4.3 million Bitcoins left that arent in circulation yet. With only 21 million Bitcoins that will ever exist, this means that there are about 16.7 million Bitcoins currently available. Out of those 16.7 million, its estimated that 30% of those may be lost forever as a result of things like hard drive crashes and misplaced private keys. What determines how many Bitcoins are left? The remaining Bitcoins not in circulation are in a pool dedicated to rewarding miners for maintaining the integrity of the network. As miners validate transactions and create new blocks, they receive the remaining Bitcoins from this pool as a reward. The Bitcoin source code outlines how the mining rewards should be distributed and when these distributions occur. The reward for mining each block started at 50 Bitcoins and has since halved twice. The current reward sits at 12.5 Bitcoins per block. The mining reward halving occurs every 210,000 blocks. With blocks taking about 10 minutes on average to mine, halvings occur about every 4 years. After 64 total halvings, there will be no more Bitcoins left to reward miners and all 21 million Bitcoins will be in circulation. This will occur sometime in 2140. You may be wondering, Without block rewards, what incentive do miners have to validate transactions? Miners receive more than just the block rewards when they create new blocks. They Continue reading >>

Ethereum Sets New Transaction Record, Outperforming Bitcoin

Ethereum Sets New Transaction Record, Outperforming Bitcoin

Ethereum sets new transaction record, outperforming Bitcoin Above: Ethereum is a type of cryptocurrency. Bitcoin is getting most of the attention these days with prices repeatedly hitting new all time highs (although today saw a slight correction). However, Bitcoin is getting beaten in one area. For the first time ever, Ethereum yesterday had more than 400,000 transactions , a record for any public blockchain, and around 40,000 higher than Bitcoins record day. The high transaction volumes havent caused much movement in Ether prices though, which have been pretty stable at around $300 over the last week (yes, there have been swings of +- $20, but thats within the usual volatility in crypto). In the past, Ether prices haveusually been very tightly coupled to Bitcoins, almost immediately following its ups and downs. This time seems to be an exception, though, and there are a few possible reasons for this. First, a lot of people want to be part of the Bitcoin rally weve seen over the last few days and are moving their Ether to exchanges to sell for Bitcoin. Second, the constant influx of new Ethereum-based ICOs is affecting the price, with people sending their ETH to these projects. Finally, on top of this, you have the usual market manipulation, known as whale games , with the big players keeping the prices down. Even though prices arent increasing much yet, the transaction numbers means the network is being used. And if its being used more than the other frameworks, then maybe the Ethereum framework has some intrinsic value, which at some point will ultimately be reflected in the price. There definitely isnt any lack of speculation in price increases in the community. Ethereums next major update, named Metropolis, is probably only a couple of months away. In the 35 days Continue reading >>

Ethereum's Block Reward Might Be Reduced From 5 Eth To 1.5 Eth

Ethereum's Block Reward Might Be Reduced From 5 Eth To 1.5 Eth

Ethereum's Block Reward might be reduced from 5 ETH to 1.5 ETH EIP186 proposes to decrease ETH mining rewards. FREE 1,000 mBTC daily for LuckyJack winners 12+ exclusive games The Bitcoin Casino by Primedice Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. Seems to me this would be an incentive to buy ETH now, and hoard them. If there is a coin vote, one could use the coins to vote for the reduction in block reward, thereby increasing the chance of supply constraint and an increase in the price. So developers and speculators will like this idea, but miners will get shafted. FREE 1,000 mBTC daily for LuckyJack winners Yeah basically the eth foundation is probably pissed off their ETH is worth less from the Summer and they are blaming it on the miners since probably 50% of all the eth mined daily is dumped daily. 1 Bitcoin$15,487,372,567$963.3816,076,162---- BTC$76,229,3001.02% 2Ethereum$720,712,570---$8.2487,474,566---- ETH$10,170,0003.68% 18 Zcash$16,729,309----$48.42345,506-------- ZEC$503,671-0.08% 87 million eth coins that = common 345 thousand Zcash coins that = rare so a block size reduction will not make eth rare Please support sidehack with his new miner project Send to : 1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr I mine alt coins with I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions. Looks like they changed EIP 186 again and made the Block reward 2 ETH instead of 5 ETH. Now it all boils down to a vote whether it gets accepted or not. Majority of ETH holders are NOT miners so there is a good chance this might pass since it will at least temporarily create a price pump. FREE 1,000 mBTC daily for LuckyJack winners Quote from: adaseb on Janu Continue reading >>

Network Transaction Fees Crypto Voices

Network Transaction Fees Crypto Voices

Green area: Total transaction fees per day, in US$; Blue line: Average transaction fee, in US$. Green area: Total transaction fees per day, in coins; Blue line: Average transaction fee, per byte of data accepted into each block, in coin's smallest denomination (except in Ethereum's case). Note that Ethereum's total network "transaction fees" are calculated by a two-step process. First, you need to understand the "gas"price. This is an extremely small figure, intended to be decoupled from ether's market price. Here we are measuring it in szabos, which amounts to 0.000001 ether per 1 szabo. Ethereum's denominations actually go much smaller than this, down to something called wei. One ether would amount to 1e18 wei; or a 1 with 18 zeros behind it. In any event, after the average gas price is understood, one would need to multiply this price by the total amount of gas units purchased in each block. Users must purchase any number of "gas" units to run different computations and contracts on Ethereum's network. The market history of both these figures is graphed below. Here, we can also see the dynamic limit that Ethereum places on gas units which can be purchased in each block. This limit is set dynamically by miners. Both are reflected in the right axis. As discussed in the network cost / block reward section, the "block reward"is essentially a revenue item for miners, and a cost item for the rest of us. Remember, it usually compromises both inflation (newly "mined" coins) and some form of transaction fees. This section isolates and graphs transaction fees only. Typically, miners choose which transactions they want to include in each block, based on how high their transaction fees are. The higher the transaction fee, the more likely your transaction is to be included and e Continue reading >>

The Ethereum-blockchain Size Will Not Exceed 1tb Anytime Soon.

The Ethereum-blockchain Size Will Not Exceed 1tb Anytime Soon.

The Ethereum-blockchain size will not exceed 1TB anytime soon. Before diving into this article, please read the two disclosures about my involvement (1,2) and the one on data accuracy (3) at the bottom of the article. At least once a month someone posts a chart on r/ethereum predicting the blockchain size of Ethereum will soon exceed 1 TB. I want to take that chance to clean up with some stories around the Ethereum-blockchain size in this article and try to explain why this chart is technically correct, but not the full picture. Let's have a look at this chart first. It shows the complete data directory size of an Ethereum node (red), Geth in this case, and a Bitcoin node (blue), probably Bitcoin-Core , plotted over time. While the Bitcoin graph is moving slightly upwards in a seemingly linear inclination, the Ethereum graph reminds the reader of an exponential growing slope. On Blocks, Block-History, States, and State-History Users accusing Ethereum of blockchain-bloat are not far off with their assumptions. But actually, not the chain is bloated but the Ethereum state. I want to examine some terminology from the Whitepaper before proceeding. Block. A bundle of transactions which, after proper execution, update the state. Each transaction-bundling block gets a number, has some difficulty, and contains the most recent state. State. The state is made up of all initialized Ethereum accounts. At the time of writing, there are around 12 million known accounts and contracts growing at a rate of roughly 100k new accounts per day . Block-History. A chain of all historical blocks, starting at the genesis block up to the latest best block, also known as the blockchain. State-History. The state of each historical block makes up the state history. I will get into the details on t Continue reading >>

A Gentle Introduction To Ethereum

A Gentle Introduction To Ethereum

Ethereum builds on blockchain and cryptocurrency concepts, so if you are not familiar with these, its worth reading a gentle introduction to bitcoin and a gentle introduction to blockchain technology first. This article assumes the reader has a basic familiarity with how Bitcoin works. Ethereum is software running on a network of computers that ensures that data and small computer programs called smart contracts are replicated and processed on all the computers on the network, without a central coordinator. The vision is to create an unstoppable censorship-resistant self-sustaining decentralised world computer. The officialwebsite is Itextends the blockchain concepts from Bitcoin which validates, stores, and replicates transaction data on many computers around the world (hence the term distributed ledger). Ethereum takes this one step further, and also runs computer code equivalently on many computers around the world. What Bitcoin does for distributed data storage, Ethereum does for distributed data storage plus computations. The small computer programsbeing run are called smart contracts, and the contractsare run by participants on their machines using asort ofoperating system called a Ethereum Virtual Machine. To run Ethereum, you can download (or write yourself if you have the patience) some software called an Ethereum client. Just like BitTorrent or Bitcoin, the Ethereum client will connect over the internet to other peoples computers running similar client softwareand start downloading the Ethereum blockchain from them to catch up. It will also independently validate that each block conforms to the Ethereum rules. What does the Ethereum client software do? You can use itto: Create new transactions and smart contracts Your computer becomes a node on the network, r Continue reading >>

Solidity - How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification - Ethereum Stack Exchange

Solidity - How Many Ethereum Blocks Are Mined In A Day?end And Startblock Specification - Ethereum Stack Exchange

How many ethereum blocks are mined in a day?End and Startblock specification there is a function in many ico contracts that allow people to adjust there allow purchase and disable purchase functions according to the current block height, basically a function that opens an ICO and closes it due to block height, but how do the contract deployers know how many blocks are mined everyday? doesnt this change every week? How do they know to the exact minute when there ICO will end and when it will start? Continue reading >>

Number Of Blocks Mined Per Day Currently? : Ethereum

Number Of Blocks Mined Per Day Currently? : Ethereum

Welcome to r/Ethereum , the front page of the Web 3. No inappropriate behavior. This includes, but is not limited to: personal attacks, threats of violence, gossip, slurs of any kind, posting people's private information. Keep price discussion and market talk, memes & exchanges to subreddits such as /r/ethtrader Keep plain ICO advertisements to subreddits such as r/ethinvestor . Keep mining discussion to subreddits such as /r/EtherMining . No creating multiple accounts to get around Reddit rules. English language only. Please provide accurate translations where appropriate. Posts and comments must be made from an account at least 10 days old with a minimum of 20 comment karma. Exceptions may be made on a discretionary basis. Continue reading >>

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