The amazing saga of Bitcoin and its different forks, which began in 2009, continues to this day successfully. Despite the periodic rapid ups and downs in quotations, Bitcoin always returns to its previous rate, and each time increases its own record of value. The evolution of crypto money is of a certain nature, in which one can even consider some analogy to the well-known principle of natural selection. It is known that it is the dominant factor in the development of living organisms. It is not surprising that the unique ecosystem created on the basis of innovative blockchain technology, in terms of its perfection and high level of adaptation, can be quite comparable with the complex phenomena of the structure of perfect living organisms.
Several years ago, a talented, despite his youth, Vitaly Buterin, created a new popular type of cryptocurrency called Ethereum, which claims to be the second Bitcoin.
Ethereums attraction of huge investments from investors is undoubtedly evidence of its huge prospects. How does Ethereum mining work? What are its features? How and why is his calculator used? The article is devoted to the answers to all these questions.
In 2014, a new system was presented. It was originally planned that the cryptocurrency would be the new money with a unique name 2.0. The essence of the new formation lies in the mining system, the cornerstone of which is a decentralized base.
An Internet platform designed to develop software for decentralized offers appeared as a financial guarantor of a new alternative currency. The task of the running software is to solve various problems, one of which is the creation of personal cryptocurrency funds.
Ethereum mining deals with providing the network with crypto-coins, which are used for transactions. The original version of the electronic peer-to-peer currency provided for a function responsible for paying for smart protocols. At the current stage, the creators of the digital currency are planning to launch the trading process on the exchange sites. The fundamental principle inherent in Ethereum trading is the presence of demand for transactions with electronic currency and the growth of their volumes.
Using the Ethereum mining calculator, you can get confirmation of the efficiency of mining electronic coins. The use of this tool is extremely easy to use and serves as a guarantor of the accuracy of calculations. Using the Ethereum mining calculator, you can get information about the possibility of making a profit in cloud currency mining. In addition, calculate the amount of profit at the set limit of the applied hash rate.
To do this, it is enough to enter some parameters and, after the calculation, wait until the final result is received. Moreover, it can come in an alternative currency and dollars. Internally, the program is currently using the etherchain API information. This means information about the quote of the electronic currency, the time spent on closing the block, the hash rate and others.
If the miner uses one video card with a performance within 26 MH / s, then the Ethereum mining calculator will tell you that the amount of earnings will be about two coins per hour. A cryptocurrency with a high market value provides an opportunity to earn several US dollars during the day.
Programming is easy and convenient.
The update takes place online.
The ability to scale.
Transaction management is free.
For network consumers, the highest level of security and absolute transparency are provided.
The system is available and inexpensive.
Ethereum mining calculator is constantly improving.
Modernization takes place regularly.
Having a prospect for individual mining.
Reliability of protection against possible attacks from the outside.
Cloud mining means renting power on a special service. He is ready to provide everyone interested with the opportunity to mine Ethereum for a certain fee (contract price). Almost everyone can try their hand, because such an attempt costs no more than a few dollars.
The capacities belonging to the service are, as it were, divided into a certain number of shares and you can rent one of them, or several. At the same time, you can carry out cloud mining of Ethereum and receive the corresponding payment. On one of such online platforms, for example, Hashflare, the cost of a minimum capacity of 100 KH / s for 1 year is only $ 3.50. And this price is quite high for almost everyone.
Payments corresponding to the acquired capacities begin to arrive on the next day. The service guarantees instant transactions on the first request. To do this, it is enough to create an Ethereum wallet, which will generate the address. In this case, you must remember, or better write down, the private access key and password.
You can exchange coins, which helped to earn Ethereum cloud mining, for Bitcoin without any difficulty on any of the exchanges like Poloniex. And you can withdraw Bitcoins in any more or less decent exchanger. Unfortunately, it is not yet possible to exchange Ethereum for "real" money. But such plans exist.
One of the main advantages of Ethereum is the ability to solo mining. This refers to a way to mine coins using only one computer. This means there is no need to spend on special equipment.
However, Ethereum mono mining can seriously interest the miners only at the initial stage. The main problem with this approach is the need to work using the command line. This complicates the Ethereum mining process and makes it difficult to withdraw virtual currency to the wallet. Which prompted a large number of users to switch to exchanges specializing in electronic currencies.
Several mining options are used:
Using a video card or processor.
Using only one processor.
It is not difficult to calculate the profit in each of the above methods using a specialized calculator, which helps a lot to carry out Ethereum cloud mining.