Efficient Decentralized Mining Pools for Existing Cryptocurrencies Based on Ethereum Smart Contracts No centralized operators managing the pool. Secure against both malicious and cheating miners, fully protected from DDoS attacks. Even more efficient than centralized pools. All source code is open. Run by the community, built for the community. No centralized operators managing the pool. Secure against both malicious and cheating miners, fully protected from DDoS attacks. Even more efficient than centralized pools. All source code is open. Run by the community, built for the community. Mining in Cryptocurrencies is Highly Centralized More than 80% of mining power in Ethereum emanates from 5 mining pools. Similarly, the main 8 pools control the same fraction of mining power in Bitcoin. Transaction Censorship and Single Point of Failure Pools dictate the transaction sets in new blocks, not miners. Pools are subject to continuous DDoS attacks. If a big pool goes down, the security of the network is significantly compromised. Mining Solo is Difficult for Small Miners High variance of returns, hard for users to plan economically. Decentralized mining pools for Bitcoin (e.g., P2Pool) exist, but are inefficient and not applicable to Ethereum. to cover for their operation costs and gain profits. Decentralize Pools by Leveraging Smart Contracts We essentially replace the centralized pool operators by smart contracts, which is run and managed in a decentralized way on the blockchain. Miners can propose their own sets of transactions. Although being decentralized, our pools can guarantee the same variance in payments as centralized pools. The decentralized formation of SmartPool does not require any infrastructure to operate the pool. SmartPool may take negligible to almost zero Continue reading >>
I'm Mining Ethereum With Ethminer But I'm Not Receiving Any Coins. What Is The Problem?
Since you are new. You need to know just because you are mining, you wont ETH straightaway. Unless you reach a certain threshold of ETH, you will get nothing in your wallet. When you started mining, you only receive ETH as unconfirmed balance. Which mean unless you perform certain task literally solving entire block or a part of it, you will not get your ETH as confirmed transaction ie. in your mentioned wallet. Looking at your current hashrate and comparing it with global, I strongly advise you to stop mining. You should first check your hashrate with calculater about how much you can earn. Probably you should try mining other stuffs. ETH mining is not profitable just as you might think for getting easy money. First question: are you solo mining ou mining in a pool? If you are solo mining with 18mh/s, you will need maaaany luck to find something. If you are mining in a pool, you can check how many ether you mined in the pool page entering your address. My second tip is: try to use something easier, like NiceHash, just run the benchmark and they will decide what is the more profitable algorithm to your PC (GPU), and will pay you direct in BTC. Last tip , if you want to mine direct Ethereum, you should give a try to Claymore dual miner, they have a bitcoin thread (forum) with all versions in the , you can mine two altcoins simultaneously (decred + Ethereum are generally the most profitable today), use some Pool with a server in your region. Bonus: search about simplemining os ( simplemining.net ), this is a simple os based on Ubuntu, you just put the os in a pendrive, change your email in config.txt, reboot your pc starting by the USB , than you can access a online dashboard and setup all miners online, reboot your pc etc (you will need to pay 2$ dolars per rig per mont Continue reading >>
Ethereum Mining Calculator And Profit Calculator
Ethereum Mining Calculator and Profit Calculator Warning: The coin daemon or block explorer is offline which may cause out dated estimated expected cryptocurrency earnings to be displayed. Days to generate one block mining solo: 177.94 Day(s) (can vary greatly depending on your luck) Days to generate one BTC: 1327.20 Day(s) (can vary greatly depending on the current exchange rates) Days to break even: N/A (can vary greatly depending on the current exchange rates) Estimated Expected Cryptocurrency Earnings The estimated expected cryptocurrency earnings are based on a statistical calculation using the values entered and do not account for difficulty and exchange rate fluctuations, stale/reject/orphan rates, and a pool's efficiency. If you are mining using a pool, the estimated expected cryptocurrency earnings can vary greatly depending on the pool's efficiency, stale/reject/orphan rate, and fees. If you are mining solo, the estimated expected cryptocurrency earnings can vary greatly depending on your luck and stale/reject/orphan rate. Continue reading >>
List Of All Claymores Gpu Miner Commands And Parameters
List of All Claymores GPU Miner Commands and Parameters Now that youve started mining Ethereum you can fine tune your mining rig using these commands for Claymores GPU Ethereum Miner . -epool Ethereum pool address. Only Stratum protocol is supported for pools. Miner supports all pools that are compatible with Dwarfpool proxy and accept Ethereum wallet address directly. For solo mining, specify http:// before address, note that this mode is not intended for proxy or HTTP pools, also -allpools 1 will be set automatically in this mode. Note: The miner supports all Stratum versions for Ethereum, HTTP mode is necessary for solo mining only. Using any proxies will reduce effective hashrate by at least 1%, so connect miner to Stratum pools directly. Using HTTP pools will reduce effective hashrate by at least 5%. -ewal Your Ethereum wallet address. Also worker name and other options if pool supports it. Pools that require Login.Worker instead of wallet address are not supported directly currently, but you can use -allpools 1 option to mine there. -epsw Password for Ethereum pool, use x as password. -eworker Worker name, it is required for some pools. -esm Ethereum Stratum mode. 0 eth-proxy mode (for example, dwarpool.com), 1 qtminer mode (for example, ethpool.org), 2 miner-proxy mode (for example, coinotron.com), 3 nicehash mode. 0 is default. -etha Ethereum algorithm mode for AMD cards. 0 optimized for fast cards, 1 optimized for slow cards, 2 for gpu-pro Linux drivers. -1 autodetect (default, automatically selects between 0 and 1). You can also set this option for every card individually, for example -etha 0,1,0. -ethi Ethereum intensity. Default value is 8, you can decrease this value if you dont want Windows to freeze or if you have problems with stability. The most low GP Continue reading >>
What Is Solo Mining & How It Works For The Miners In The Bitcoin Network?
Solo mining is a solo process where the miner completely does his task of mining operations without any helping hand. This process is mainly done alone without joining a pool. These blocks are mined and generated in a way to the task completed by the miners credit. This is a small brief on Solo mining and its process. Solo mining is the process of mining alone as we told earlier. We are aware that when you connect yourself to a pool, the process that mainly happens is that all miners get connected to the same bitcoin -client to confirm transactions . This helps to increase the probability of finding a block directly. Further, the block provides incentives from the shares from all miners . If you do the process of solo mining , make sure to connect your miner to your local Bitcoin client. This is for getting the best results to find a block on your own. The probability will tend to decrease and lower, but in turn, you do not share the block incentive. We all know how the Bitcoin network works. If your interest is to go for a long run solo mining and pooled mining you will get you exactly the same amount that you expected. In this new digital world, the real option always goes with pooled mining because it is definitely the better way if you have the hardware which consists of small hash rate. The several tens of TH/s can be used to get more rewards from the solo mining than pooled mining. The current hardwares utilized for the process of solo mining can deliver an experience which is more like playing the lottery. But if you do it right you can exit with a lot of cash. What you need to solo mine How it Works? Firstly, install the Bitcoin -core which is hardware used for solo mining process. Henceforth, start it and complete the download of the blockchain which is almost Continue reading >>
Ether Mining With Your Own Hardware | We Will Show You How To Do It
Anyone can buy Ether. We want to earn Ether ourselves and besides that, make the Ethereum network safer. Ether Mining is rewarded with 3 Ether each block. But this is not it. Furthermore, the gas which exists of fees for transactions and contracts, is declared in addition to these 3 Ether per block. It is assumed that, as time goes by, the reward of the gas with 3 Ether per block will exceed a lot. But it is getting even better. Further Ether for uncles will be declared every now and then, in addition to the 3 Ether per block and the reward for the gas. Which means, another up tp 7/8 of the 3 Ether from the block on top. So many Ether After all, we want to point out that Ether solo Mining requires a lot of luck. The computing power of the entire Ethereum Network is tremendous and therefore it will be pretty hard to snatch a block. Still, Ether solo Mining is an exciting thing. In the following, we will show you all the essential equipment you need for a successful start with Ether solo Mining with windows. Continue reading >>
Ethereum Cpu Mining: Impressive Solo Or Unprofitable Hobby?
Ethereum CPU Mining: impressive solo or unprofitable hobby? Ethereum CPU Mining: impressive solo or unprofitable hobby? Ethereum to the surprise of many amateurs and experts took the second place in the list of crypto-currencies and most likely isnt going to slip backwards thats why the issue of ethereum CPU Mining is also actual. Moreover in the nearest future ETH can become a worthy competitor for bitcoin. Interest in ethereum led to the fact that many users became mine it actively. What are the benefits of this type of cryptocurrency? Why does it make sense to invest in its mining? Unlike the bitcoin which creator continues to hide his face and presented only his nickname ethereum has got real fathers. ETH was created with the help of investors by the programmer from Canada Vitaliy Buterin and his Swedish colleague. Only thanks to ethereum cryptocurrency began to develop rapidly and everyone started talking about it. The blockchain technology ceased to be exclusively a term of programmers and became the basis for the of smart contracting and the prospects for business development. Ethereum is predicted a great future not only in the role of a payment instrument but also as a form of custody of assets including investments. On the basis of the blockchain various financial projects and socio-economic platforms have already been built. Another significant advantage of ETH is the relatively simple mining of this kind of cryptocurrency. So far solo-miners are taking an active part in the process. They are still getting ethereum on their home PC. There are several ways of mining ETH. If you do not take into account faucets then a home or office computer can become a fully usable tool. Farm filled with its asic-devices and even a powerful graphics card in this case will no Continue reading >>
Eth Mining Calculator
There are three ways you can mine Ethereum; each has its perks and demerits, they are solo mining, pool mining and outsourced (cloud) mining. Solo mining might have the best payout of the three methods if you have the financial power to invest in several GPUs and pay mammoth electricity bills. To carry out solo mining successfully, you need to hit at least 100 mega hashes per second and this hash rate will increase as difficulty rises. However, you get all the rewards; they include payment for uncles on top of your earnings. Cryptocurrency mining pools are popular among ETH miners because they allow you to mine ether with a modest hash rate. The hash rates of each miner in the pool aggregate to a level where members earn ETH profitably. The amount you earn is pegged on the speed or hash rate you have contributed. You receive you pay when the amount has reached a payout amount, which is decided by the pool. Pool fees are usually pegged as a percentage and you have to foot the payout costs, which will be deducted from your earnings. While mining from a pool is advantageous if you dont have the heavy mining hardware, the rewards and the pay you get might not be equal to what youd have received if you mined solo. Some pools may pay you, plus all rewards while in others you might not get paid for uncles. This is outsourcing the mining. Cloud mining companies will charge you a fee, usually for a fixed-term contract. A short contract might be one year.Cloud mining is profitable because the GPUs are bought in bulk, hence at discounts. They have the option to base operations overseas, in countries where electricity costs are low.You can get a smart deal if the company hedges you against the fluctuations in the market. These companies also guarantee that the system is always onl Continue reading >>
Pool Vs. Solo Mining
This article or section contains information that is no longer up-to-date. Please either update the outdated information or remove the outdated information. Although most miners prefer to mine in pools, there are still merits to solo mining. An article addressing the pros and cons of solo and pooled mining can often answer questions easier than simply asking in: #bitcoin-mining . Additionally, this page can serve as a reference for members of #bitcoin-mining to direct those with questions. The purpose of this page is to explain what the differences between pooled mining and solo mining. This Topic will give pros and cons of each to aid in the decision of a mining approach. Pooled mining "pools" all of the resources of the clients in that pool to generate the solution to a given block. When the pool solves a block, the 12.5 BTC generated by that block's solution is split and distributed between the pools participants. Solo mining is when a miner performs the mining operations alone without joining a pool. All mined blocks are generated to the miner's credit. Pooled mining generates a steadier income. Pooled mining can generate a 1-2% higher income (before fees, if any) due to long polling provided by the pools. Pool mining can suffer interruptions from outages at the pool provider. Pools are subject to DOS attacks and have other downtimes, too. Backup pools and solo mining can be configured for these cases. Pooled mining tends to generate a smaller income due to fees being charged and transaction fees not being cashed out. There are zero fee pools. Until now, transaction fees are not cashed out by any pool. Solo mining is less prone to outages resulting in higher uptime. Solo mining doesn't incur any fees. For each discovered block, 12.5 BTC and the transaction fees are Continue reading >>
How To Mine Ethereum On A Windows Pc?
You can also mine Ethereum Classic (ETC) if you start your geth in Step 7with the param --oppose-dao-fork. Read this ifyou want to understand what Ethereum Classic is . Running a CPU you might be able to generate 0.15 Mega Hashes whilst with a decent GPU with enough memory you could be doing upwards 25 Mega Hashes ( you can choose a GPU to mine ether here and use our guide on how to choose a GPUto mine ether ). So in terms of total efficiency, taking into account electrical costs, a GPU is definitely worth it even if it costs you $200. You can also try buying a cloud mining contract with Hashflare or Genesis Mining . Part 1 - Installing GETH, Syncing the Blockchain & creating your own address! Step 1: The first thing you need to do is go to this link download Geth . Geth is the program that communicates with the Ethereum Network and acts as the a relay between your computer, its hardware and the rest of the ethereum network computers so if a block is mined by another computer your Geth program will pick it up and then pass on the new information onto your GPU or CPU for mining. Step 2: You need to unzip the GETH file and move it to a location on your hard drive. In this case we'll move it to the hard drive, usually (C:) - which will make the next step easier. All you need to do is copy the file you have downloaded and unzipped and move it to the hard drive folder. Step 3:Now you need to run the program you just downloaded. To do this you need to run Command Prompt. You can do this by searching in the search function in Windows for "CMD" and then clicking on it when it shows up. Step 4: Command Prompt is now open - and can look terrifying to people who aren't familiar with it. The Command Prompt box usually has C:\Users\Username>showing in it - where Username is your us Continue reading >>
Ethereum Solo Mining
can any one tell me how to mine ethereum solo with GPU ? AMD GPU You will not be able to mine any Ethereum doing solo mining. Even if you had more than 100 AMD GPUs estimates you would have to wait years just to find a single ethereum block. You will need to join Ethereum mining pools like nanopool.org or ethermine. I highly recommend you do more research. Google has a wealth of knowledge on how to start mining and this topic is extensively discussed. Quote from: jmigdlc99 on December 14, 2017, 09:50:32 AM You will not be able to mine any Ethereum doing solo mining. Even if you had more than 100 AMD GPUs. You will need to join Ethereum mining pools like nanopool.org or ethermine. I highly recommend you do more research. Google has a wealth of knowledge on how to start mining and this topic is extensively discussed. ethpool.org i mine there witb my 5ghs sometimes , i get a block every six days or so sometimes an uncle too You can definetley solo mine ETH with 100 AMD RX 570/580 GPU's. With 3 GH/s it would take about a week on average to find a block. For most people though, a pool like Ethpool.org is a better option. On Ethpool you accumulate credits towards a full block payout and only receive a payout once you accumulate enough credits to be the first in line at the top of the payout list for the next block found by the pool. Once you reach the top, you receive the next full block payout of ~3 ETH plus an Uncle payout if it's an Uncle block. It's like solo mining, but you don't lose credit for the work you did if you don't find a block, like you do with solo mining. You also have the benefit of being able to estimate when you will receive a payout by looking up your wallet address on the miner stats page. Continue reading >>
Beginner's Guide To Ethereum Mining In 2017 - How To Mine Ethereum On Your Pc?
Last updated on August 15th, 2017 at 11:06 pm Getting Started with Ethereum Mining the video guide The good news is that getting started with Ethereum Mining is now easier than ever. You do not need to download the full Ethereum blockchain, which is now over 20+ GBs and still growing! You also do not need to manage clunky command line miners with manual instructions. For purposes of this guide, we are going to do a detailed walk-through of setting up and using the very popular Claymore Miner. Get the current version here from Claymores original Bitcointalk thread and then follow along with the steps in this video. The whole process of getting a wallet setup, downloading your miner, configuring things in Windows and setting up your batch file to run should take less than 10 minutes: If youre new to mining Ethereum , this guide covers all the important facts in a simple, low-jargon way. Lets start with some short answers to common questions about Ethereum mining: Q: Whyshould Imine Ethereum tokens (aka ether or ETH)? doesnt mining Ether take up a lot of electricity? A: If done properly, more money is earned by selling mined ETH than is spent on electricity. In other words, its profitable! You can check out the profitability with our Ethereum mining calculator . Q: Can I mine with my CPU (Personal computersprocessor) instead ofan expensive graphics card (GPU)? A: GPUs are so much faster that CPU-mining is no longer profitable or worthwhile. Even entry-level GPUs are about 200 times faster than CPUs for mining purposes. Q: Whats the best GPU to use for getting the most ETH for the least electricity? A: AMD cards tend to edge out similarly-priced NVidia cards in terms of efficiency. We cover the best cards to get under the heading GPU Hardware further down in this post. Q: Continue reading >>
Ethereum Solo Mining - Crypto Mining Blog
All About BTC, LTC, ETH mining as well as other alternative crypto currencies Those that actually solo mine crypto coins are familiar with the not user friendly way that things happen and mostly the lack of details on your solo mining statistics over time unlike when using a mining pool. Ethereum is a no exclusion from that rule when solo mining and with not that many pools and some pools having issues, even though the difficulty of the network is not that small, there are still quite a lot of people that solo mine especially if they have more than just a few GPUs. There is now a new open source project called ether-proxy which essentially is an Ethereum solo mining proxy that can help you keep track on how your solo mining for Ether is going on with multiple mining rigs, though it will work even with a single one. EtherProxy relies on Go and needs geth (the Ethereum Go client in order to function as a backend) with the mining part happening just like you do with ethminer pointed at a mining pool. In the local proxy url you set for ethminer to use you can set the share difficulty as well as an ID for each mining instance (or mining rig) that you are using. All the basic stats that you need is being displayed in a clean and simple web-based interface for you to keep track on things like running status of mining rigs, hashrate, blocks found and so on. If you want to try the project yourself, there is already a Windows binary release available to save you some trouble or you can compile from the source code yourself. Ethereum is Getting More User Friendly with AlethOne The C++ implementation of the Ethereum client (cpp-ethereum) is getting more user friendly with the new AlethOne GUI intended to simplify the mining process for users that are not into programming and hate Continue reading >>
How Do Mining Pools Work? Is It Better Than Solo Mining?
How do Mining Pools Work? Is it Better Than Solo Mining? Admir Tulic October 24, 2017 420 no comments Lets start with the definition of pool mining: A Mining Pool is a protocol for a group of miners to work together, in order to smooth out their mined coins. Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time. So, bitcoin mining pools are a way for Bitcoin miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block. The mining pool coordinates the workers. Its just like a lottery pool. Your odds of winning a lottery are very low, so you team up with a bunch of other people and agree to split the winning. This makes your odds of winning much higher, but the amount you win much lower. What a mining pool does is function as a coordinator for all the pool participants doing: Recording how much work all the participants are doing Assigning block rewards proportionally to participants Miners mine differently by running pool software instead of the bitcoin client and just performing hashes for the pool. The pool operator randomly verifies a small portion of the work submitted by each member of the pool. The member miners dont know which of their submissions will get verified so they cant cheat. If they cheat once in a while they might get away with it but not for long enough to matter. Traditionally, pools gave miners work units covering the entire nonce range 0-4,294,967,295. When the miner finishes work, he r Continue reading >>
Mining Ethereum Guide 2018 | Is It Possible To Get Rich By Mining?
In cryptocurrency, mining refers to the use of computer hardware and special software applications to find blocks on a given blockchain or platform. To put it simply, Ethereum mining refers to the computational process of finding ether. Ether is required in the implementation of smart contracts that are useful in verifying, approving and securing transactions of various applications that run on the Ethereum blockchain. To engage in Ethereum mining, you need the following: With the above in place, you can become a miner and get rewarded with ether every time you hit a hash. Let us look at the various ways of mining Ethereum. There are two ways of mining Ethereum: GPU Mining and Cloud Mining. For you to engage in Ethereum mining, you need to have specialized hardware commonly called GPU, short for (graphics processing unit) GPUs are preferred for Ethereum mining because they have more hashing power than the CPUs that were initially designed to do the mining. So, mining Ethereum requires you to have the best GPU and a rig. With this software and hardware in place, you can go ahead and try solo mining. GPU Mining is the most effective and profitable method of mining since it is 200 times faster than any other existing mining method. However, it needs a lot of electricity to run the hardware and software. It also requires high costs of maintenance when it comes to the hardware. Firstly, you need to have the right hardware. Any computer with a graphics card (or multiple graphics cards), of four gigabytes (or more) of video RAM, will work. Then download a miner. It is recommended that we join a pool since it enables us to get more transactions going through our computer. An excellent example of a mining pool is Claymores Miner. Next, create an Ethereum wallet in which Ethereu Continue reading >>