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Ethereum is another cryptocurrency after bitcoin that has attracted people and whose popularity is increasing. For quite a long time, Ethereum is holding its position at second when it comes to market capitalization. It is one of the best cryptocurrencies or coins to be mined in the crypto industry.
It has attracted individuals, but many miners are attracted towards mining bitcoin because its mining process is not too tricky like Bitcoin and can be mined by utilizing video cards. You can either invest in Ethereum or Bitcoin, but read the useful information from advfn.com
The mining process requires a complete understanding of a crypto token and requires investing in expensive hardware to get fast processing power. Some people even consider buying Ethereum and other cryptocurrencies rather than mining it. But if you are interested in mining Ethereum, we have brought you a guide that will help you learn mining Ethereum.
Requirements to begin with Mining Ethereum
Do you know mining pools? A mining pool is a server that distributes the mining task among all different miners, or we can say, participants. Each cryptocurrency has its mining pool, and so does Ethereum have. Each miner contributes a lot in solving the complex mathematical algorithms to find solutions and mine a block of transactions.
The miner’s contribution is concluded according to the counting system, and after that, the miners are provided with the block reward for their hard work and efforts.
Let us now learn the requirements to start with Ethereum mining that are:
- A computer is required that must have Windows operating system whose version must be greater than 7th. The higher the version, the more updated the system, and it will provide more features and safety. The updated version is required as it will help change the requirements that would be needed in the future, and there might be a need to move the software and filed to the latest Windows operating system.
- Mining can be done using the video card, and therefore you must use a video adopted whose memory must be at least 4GB or more than that.
- Download and install the latest or updated versions of different required drivers, as these will make sure to provide maximum speed while mining Ethereum.
- Sometimes the motherboard enables users or miners to put multiple video cards; check if the motherboard allows. If it does qualify, you must use multiple video cards to simplify the tasks and provide you with maximum profits.
Best Ethereum Mining Pools
After knowing the mining requirements, let us learn about the best Ethereum mining pools to provide high convenience in mining Ethereum.
The first official mining pool of Ethereum is Ethermine. All the users tend to use Ethermine, but some years ago, it restricted new users because it made its program work only for the old clients due to the heavy workload. All the new miners had to shift to solo mining because when Ethermine was introduced, there were no other alternatives for a mining pool.
The best thing about Ethermine is that it charges low fees and provides excellent high performance. Ethermine is one of the only official pools, and the new miners are still waiting if Ethermine anytime starts accepting new users. The mining reward of Ethermine follows the PPLNS system and the fee it charges is 1.0%.
Sparkpool is one of the Chinese pools known to be very popular amongst all pools present in the ecosystem. It is a resource that helps miners across the world to collaborate and mine Ethereum. Miners are required to configure the batch file, and other Ethereum mining process is more lucrative. The reward type of Sparkpool is PPS+, where the fee it charges is around 1.0%.
F2Pool is one of the most well-known pools with a great network of servers located in Asian and China countries. It allows miners to mine a large number of cryptocurrencies. But before you start with the process of mining with F2pool, miners are required to register themselves on F2pool. Once you have signed up and register, you are ready to start with the software and its configuring process. The reward type of F2Pool is PPS and PPS+, but the fees that it charges are around 3.0%.
One of the largest mining pools dedicated towards Ethereum is Nanopool. The minimum hash rate that is required for mining on Nanopool is 5Mhesh/s. Nanopool has genuine and reliable servers across the globe that provide an intuitive interface to all its miners. This mining pool follows the PPLNS system for paying mining rewards to pool miners, and in PPLNS, N represents all the shares accepted by the system in the past 10 minutes. There are various reliable servers located in Nanopool across the world.
One of the most rapidly developing Ethereum pools that deal in multiple currencies is Huobipool. It is a mining pool that was introduced by knowing the Global cryptocurrency exchange of Huobi. The advanced feature that Huobi provides is of various voting modes and proof-of-work on which it is based that performs like Bitcoin.
2Miners pool is a big mining pool with its three main servers in Asia, Europe, and the USA. In the 2Miners mining pool, the miners get the chance to use Telegram notifications and e-mails freely. The minimum fee of 2Miners is around 1.0%, whereas the mining payout that it provides is 0.5 ETH, which is provided every two years to miners who solve the puzzles first and accurately.
BTC.com is a join mining pool that is among the fastest-growing cryptocurrencies. BTC.com is dedicated to investors that are from China. It originated in China and was launched back in 2016, and every miner loved the services provided, and it has grown in the past four years. The reward type of BTC.com for mining Ethereum uses the FPPS system.
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