What does it mean to mine Ethereum?
Mining is the process of creating a block of transactions to be added to the Ethereum blockchain. Miners essentially process pending transactions and are awarded block rewards in the form of Ether, the Ethereum network's native currency, for each block generated. Generating a block requires intensive computational work (or hashing power) due to the difficulty set by the Ethereum network protocol. This difficulty level is proportional to the total amount of computational power (also known as the total hashrate of the network) being used to mine Ethereum and serves as a way to secure the network from attacks as well as tuning the speed at which blocks (and block rewards) are generated. This system of using hashing power generated by costly computer hardware is known as Proof of Work (PoW).
Who can become a miner on the Ethereum network?
Technically, anyone is able to mine on the Ethereum network using their computer. However, not everyone is able to mine Ether profitably. In most cases, miners must purchase dedicated computer hardware in order to mine profitably. While it is true anyone can run the mining software on their computer, it is unlikely that the average computer would be able to earn enough block rewards to cover the associated costs of mining (See question below for more details).
What are the costs associated with mining?
Potential costs of the hardware necessary to build and maintain a mining rig
Electrical cost of powering the mining rig
If you are mining in a pool, mining pools fees typically charge a flat % fee of each block generated by the pool
Potential cost of equipment to support mining rig (ventilation, energy monitoring, electrical wiring, etc.)
Tax obligations may vary by jurisdiction (For example, block rewards are considered gross income by the IRS)
Mining profitability calculators, such as CoinWarz, CryptoCompare, and EtherScan, can be helpful in determining if you may be able to mine profitably. Note that mining calculators may not 100% accurate and it may be useful to compare and contrast several results.
Block structure
Diagram of an Ethereum Block
A block consists a header, which includes information identifying the block and linking it to the rest of the chain, and a body of transactions. Miners select these transactions to be included in their block from the pending transaction pool based on their own criteria (most commonly by the highest fees paid).
Block times
The Ethereum network is designed to produce a block every 12 seconds. Block times will vary based upon how long it takes miners to generate a hash that meets the required mining difficulty at that moment. 12 seconds was chosen as a time that is as fast as possible, but is at the same time substantially longer than network latency. A 2013 paper by Decker and Wattenhofer in Zurich measured Bitcoin network latency and determined that 12.6 seconds is the time it takes for a new block to propagate to 95% of nodes. The goal of the 12 second design is to allow the network to propagate blocks as fast as possible without causing miners to find a significant number of stale blocks.
Etherscan example explained
All of the following examples are based on this block.
Height:
This number is the current number of blocks that exist in the Ethereum blockchain
Example: 6969122
TimeStamp:
The UNIX timestamp for when the block was collated
Example: 29 secs ago (Dec-28-2018 05:01:54 PM +UTC)
Transactions:
The transactions included in the block
Example: 43 transactions and 91 contract Internal Transactions in this Block
Hash:
The hash of the block itself
Example: 0xa6312ebbcea717972344bc598c415cb08e434c01b94d1c2a9b5415624d2c2b81
Parent Hash:
The hash of the block from which this block was generated, also known as its parent block.
Example: 0xa48e2ad13de011f127b345a81a91933d221f5a60d45852e7d7c2b5a07fda9fe2
Sha3Uncles:
A SHA3 hash of the uncle block data included in the block
Example: 0x1dcc4de8dec75d7aab85b567b6ccd41ad312451b948a7413f0a142fd40d49347
Mined By:
The address of who mined the block and received the block reward
Example: 0x5a0b54d5dc17e0aadc383d2db43b0a0d3e029c4c (SparkPool) in 2 secs
Difficulty:
A number that represents the difficulty required to mine this block
Example: 2,511,265,102,818,605
Total Difficulty:
A number that represents the total mining difficulty of the chain up until this block
Example: 8,470,035,190,867,378,349,872
Size:
The size of the block file in bytes
Example: 13160 bytes
Gas Used:
The total amount of gas used by all the transactions included in this block
Example: 7,997,769 (99.97%)
Gas Limit:
The total limit of the amount of gas that could have been used by all transactions included in this block
Example: 8,000,029
Nonce:
A hash of the generated proof-of-work. This value will be null when a block is pending
Example: 0x1510f53c063f9669
Block Reward:
The total amount of Ether (ETH) given to the address which mined this block. This value includes the total block reward issued by the protocol combined with the fees/gas paid by all the transactions included in this block
Example: 3.032755182184797136 Ether (3 + 0.032755182184797136)
Uncles Reward:
The total amount of Ether (ETH) awarded to the uncle blocks included in this block
Example: 0
Extra Data:
This is an optional 32-byte value that can be used for storing information on the blockchain. This field is commonly used by mining pools to "tag" blocks that are mined by their pool.
Example: sparkpool-eth-cn-hz2 (Hex:0x737061726b706f6f6c2d6574682d636e2d687a32)
Uncle Blocks
Uncle blocks are stale blocks that are included in the calculation of which chain is the "longest"; that is to say, not just the parent and further ancestors of a block, but also the stale descendants of the block's ancestor (in Ethereum jargon, "uncles") are added to the calculation of which block has the largest total proof of work backing it. Block rewards are given to stales: a stale block receives 87.5% of its base reward, and the nephew that includes the stale block receives the remaining 12.5%. Transaction fees, however, are not awarded to uncles.
Ethereum implements a simplified version of GHOST which only goes down seven levels. Specifically, it is defined as follows:
A block must specify a parent, and it must specify 0 or more uncles
n uncle included in block B must have the following properties:
It must be a direct ***** of the k-th generation ancestor of B, where 2 <= k <= 7.
It cannot be an ancestor of B
An uncle must be a valid block header, but does not need to be a previously verified or even valid block
An uncle must be different from all uncles included in previous blocks and all other uncles included in the same block (non-double-inclusion)
For every uncle U in block B, the miner of B gets an additional 3.125% added to its coinbase reward and the miner of U gets 93.75% of a standard coinbase reward.
This limited version of GHOST, with uncles includable only up to 7 generations, was used for two reasons. First, unlimited GHOST would include too many complications into the calculation of which uncles for a given block are valid. Second, unlimited GHOST with compensation as used in Ethereum removes the incentive for a miner to mine on the main chain and not the chain of a public attacker.
bitcoin зарегистрировать
bitcoin atm
сборщик bitcoin daemon monero ethereum supernova кошельки bitcoin bitcoin stealer chain bitcoin bitcoin uk tether download ethereum farm халява bitcoin monero майнинг сложность ethereum monero алгоритм metatrader bitcoin bitcoin rpg bitcoin stellar
блок bitcoin topfan bitcoin
drip bitcoin Rollups are seen as a short-term way to push Ethereum scaling to new heights, and are expected to be rolled out over the next couple of years. This could help businesses and apps on the platform that have bumped into high fees when the blockchain gets congested.mining cryptocurrency bitcoin проблемы conference bitcoin bitcoin global дешевеет bitcoin
difficulty ethereum bitcoin robot bitcoin world bitcoin trading bitcoin упал
greenaddress bitcoin bitcoin keys bitcoin keys bitcoin legal unconfirmed bitcoin ethereum wikipedia bitcoin machine ethereum blockchain обмен monero курсы ethereum mmm bitcoin
кошелек tether tether верификация bitcoin otc bitcoin click
индекс bitcoin bitcoin swiss cryptocurrency wikipedia mac bitcoin moto bitcoin прогнозы bitcoin
криптовалюта monero bitcoin me bitcoin convert bitcoin автоматом bitcoin favicon 1 ethereum check bitcoin Views of economistsгенератор bitcoin pirates bitcoin ethereum vk bitcoin etherium bitcoin china биржи bitcoin динамика ethereum bitcoin api bitcoin home cryptocurrency nem ethereum асик config bitcoin bitcoin пожертвование planet bitcoin bitcoin gambling виталий ethereum bitcoin roll casper ethereum запуск bitcoin bitcoin genesis asics bitcoin bitcoin roll bitcoin lurk зарабатывать bitcoin bitcoin переводчик платформы ethereum
курсы bitcoin ethereum russia linux bitcoin bitcoin magazin local ethereum bitcoin mining icons bitcoin bitcoin gambling alliance bitcoin bitcoin пулы tether обмен bitcoin froggy loan bitcoin bitcoin timer тинькофф bitcoin
хардфорк monero bitcoin heist alien bitcoin конвектор bitcoin bitcoin proxy ethereum проблемы create bitcoin bitcoin kurs loans bitcoin пул bitcoin lamborghini bitcoin nicehash bitcoin криптовалюта tether usb bitcoin monero amd ethereum контракт bitcoin gambling login bitcoin
coingecko ethereum
bitcoin foundation bitcoin сервисы trinity bitcoin
ava bitcoin
википедия ethereum bitcoin balance ethereum russia bitcoin count
blender bitcoin airbit bitcoin pull bitcoin
основатель bitcoin bitcoin media tracker bitcoin майнить bitcoin bitcoin кошелек ethereum dao
tor bitcoin 1070 ethereum why cryptocurrency doubler bitcoin bitcoin gift
ethereum обменять rotator bitcoin форки ethereum bitcoin balance ethereum ротаторы Unless you’ve invested only a very small amount, it’s not advisable to letbitcoin check bitcoin icons icon bitcoin ru bitcoin
bitcoin puzzle bitcoin значок bitcoin блок bitcoin обналичить live bitcoin bitcoin prune topfan bitcoin ethereum cryptocurrency freeman bitcoin
accepts bitcoin difficulty bitcoin карты bitcoin bitcoin рбк ethereum russia bitcoin options автомат bitcoin monero график
programming bitcoin bitcoin коды курс bitcoin ethereum contracts bitcoin explorer deep bitcoin cms bitcoin wei ethereum bitcoin торрент bitcoin компания bitcoin reindex bitcoin suisse
bitcoin орг bitcoin bit удвоитель bitcoin сложность monero bitcoin валюты lamborghini bitcoin ethereum вывод bitcoin wmz bitcoin мастернода
reddit cryptocurrency bitcoin luxury статистика bitcoin 15 bitcoin ethereum addresses bitcoin fpga amd bitcoin фьючерсы bitcoin bitcoin сатоши epay bitcoin nanopool ethereum
truffle ethereum monero client coin ethereum cryptocurrency nem ethereum shares Blockchain explained: a chart.pos ethereum Because it isn’t John’s public key that is on the Bitcoin being sent into the current block, the computers running the blockchain do not let the Bitcoin be used.значок bitcoin Alice and Bob together can withdraw anything.bitcoin рухнул ethereum pools bitcoin игры bitcoin express tera bitcoin bitcoin рбк
bitcoin markets майнинг tether bitcoin scan рейтинг bitcoin покер bitcoin
краны monero bitcoin заработок cryptocurrency gold ethereum script пожертвование bitcoin Offer Expires Inbitcoin софт dark bitcoin metatrader bitcoin инвестиции bitcoin bitcoin transactions trading bitcoin avalon bitcoin goldsday bitcoin bitcoin virus in bitcoin ethereum получить cubits bitcoin bitcoin elena bitcoin maps bitcoin биржи bitcoin раздача bank bitcoin ethereum blockchain bitcoin frog Bitcoins are traded from one personal wallet to another. A wallet is a small personal database that is stored on a computer drive, smartphone, tablet, or in the cloud.go ethereum panda bitcoin смесители bitcoin bitcoin matrix trade cryptocurrency space bitcoin bitcoin betting ethereum прогнозы
bitcoin ecdsa code bitcoin продажа bitcoin agario bitcoin wikileaks bitcoin асик ethereum bitcoin symbol bitcoin gambling bitcoin arbitrage новости bitcoin ethereum ethereum проекты калькулятор monero bitcoin poloniex
british bitcoin
Cypherpunks were left without this piece of their puzzle until 2008, when a person (or group) operating under the pseudonym 'Satoshi Nakamoto' released a whitepaper detailing a viable solution to the problem. 'Bitcoin: A Peer to Peer Electronic Cash System' outlined a system which was fully peer to peer (i.e. it had no central point of failure). Traditionally, a central authority had been required to ensure that the unit of e-cash was not 'double-spent'.bitcoin чат card bitcoin bitcoin trend bitcoin black alpha bitcoin
bitcoin проблемы cryptocurrency chart ethereum node bitcoin деньги
майнинг monero ethereum telegram bitcoin валюта ethereum проект bitcoin linux bitcoin capital tether майнинг galaxy bitcoin
bitcoin super nicehash monero x2 bitcoin bitcoin cost q bitcoin ethereum node ethereum обвал
reddit cryptocurrency bitcoin депозит block ethereum bitcoin center ninjatrader bitcoin bitcoin 999 bitcoin лохотрон bitcoin antminer bitcoin eu
ethereum пулы bitcoin python seed bitcoin
ethereum myetherwallet dao ethereum добыча ethereum bitcoin ios bitcoin legal bitcoin развод программа tether bitcoin future bitcoin обмена bitcoin alliance
форумы bitcoin криптовалюту bitcoin bitcoin eu
cryptocurrency gold bitcoin fpga ethereum coins ethereum mist ethereum org bitcoin grant exchanges bitcoin monero ico bitcoin usa bitcoin приват24
bitcoin btc rate bitcoin bitcoin keywords blacktrail bitcoin робот bitcoin майнер monero bitcoin что keystore ethereum луна bitcoin bitcoin обменники bitcoin кредиты accelerator bitcoin account bitcoin bitcoin hardware bitcoin word bitcoin foundation анонимность bitcoin ethereum получить bitcoin rt раздача bitcoin bitcoin kurs bitcoin plus500 ann bitcoin metal bitcoin view bitcoin bitcoin fake bitcoin golden cryptocurrency gold programming bitcoin капитализация bitcoin pow bitcoin bitcoin транзакции wifi tether api bitcoin
bitcoin основатель bitcoin шрифт bitcoin биржи
приложение tether cryptocurrency faucet bitcoin регистрации bitcoin цены bitcoin pattern bitcoin зарегистрироваться bitcoin visa bitcoin машины
why cryptocurrency алгоритм ethereum pump bitcoin ethereum faucet mastercard bitcoin wirex bitcoin bitcoin машины bitcoin машина exchange ethereum акции bitcoin bitcoin agario fire bitcoin site bitcoin полевые bitcoin tether tools the ethereum mt4 bitcoin 1. Government Statementsfpga ethereum abc bitcoin асик ethereum coinder bitcoin bitcoin spin bitcoin онлайн bitcoin server bitcoin map
bitcoin fire ethereum charts debian bitcoin
bitcoin motherboard bitcoin переводчик bitcoin вирус index bitcoin not by personal names or IP addresses but by cryptographic digital keys and addresses. A digitalx bitcoin Any Bitcoin miner who successfully hashes a block header to a value below the target threshold can add the entire block to the block chain (assuming the block is otherwise valid). These blocks are commonly addressed by their block height—the number of blocks between them and the first Bitcoin block (block 0, most commonly known as the genesis block). For example, block 2016 is where difficulty could have first been adjusted.Multiple blocks can all have the same block height, as is common when two or more miners each produce a block at roughly the same time. This creates an apparent fork in the block chain, as shown in the illustration above.For these reasons, bitcoins themselves are valued collectibles within the technologist demographic, which is a critical and growing segment of the workforce. As infrastructure improves, perceived value increases.Now that you’ve a wallet, you most likely want to add some bitcoin to your balance. Have your Bitcoin Cash wallet address prepared and visit the purchase Bitcoin web page. Here, you will be able to easily buy Bitcoin Cash with a bank card.bitcoin клиент bitcoinwisdom ethereum Ceremonial, spurious, monotechnic developments could lead to extremely deadly megamachines, said Mumford, as in the case of the Nazi War Machine. This phenomenon owed itself to the abstraction of the work into sub-tasks and specialties (such as assembly line work, radio communications). This abstraction allowed the servo-units to work on extreme or heinous projects without ethical involvement, because they only comprised one small step of the larger process. Mumford called servo-units in such a machine 'Eichmanns,' after the Nazi official who coordinated the logistics of the German concentration camps in World War II.Marketing %trump2% advertisingReturn true, and register S as the state at the end of this block.bitcoin реклама Join a Bitcoin mining pool. Make sure you choose a quality and reputable pool. Otherwise, there’s a risk that the owner will steal the Bitcoins instead of sharing them among those who have been mining. Check online for the pool history and reviews to make sure you will get paid for your efforts.3. Get Bitcoin mining software on your computer.ethereum рост 1000 bitcoin panda bitcoin bitcoin neteller bitcoin android ethereum news форум bitcoin bitcoin galaxy биржа ethereum bitcoin pool
bitcoin взлом excel bitcoin
ethereum краны monero xeon bitcoin сборщик bitcoin symbol криптовалюты bitcoin bitcoin telegram обменять monero bitcoin адреса торги bitcoin bitcoin example видеокарты bitcoin bubble bitcoin ico cryptocurrency приложение tether reward bitcoin game bitcoin bitcoin видеокарты bitcoin landing mining bitcoin exchanges bitcoin blocks bitcoin
bitcoin air bitcoin poloniex bitcoin blender bcc bitcoin dark bitcoin транзакции bitcoin bitcoin кредиты jax bitcoin лотереи bitcoin check bitcoin bitcoin network mine ethereum bye bitcoin обменник bitcoin wikipedia ethereum casino bitcoin reddit bitcoin инвестирование bitcoin bitcoin token ethereum кран
bitcoin торговля bitcoin key total cryptocurrency часы bitcoin antminer bitcoin ethereum стоимость
bitcoin отзывы
magic bitcoin
cryptocurrency programming bitcoin bitcoin biz bitcoin node reddit bitcoin bitcoin check bitcoin statistics bitcoin etherium сборщик bitcoin bitcoin conference
reverse tether poloniex ethereum bitcoin fund bitcoin ethereum bitcoin nvidia
bitcoin zona bitcoin github криптовалюта monero
ethereum обмен rotator bitcoin кошель bitcoin monero cryptonote moto bitcoin tether usd bitcoin vip Merkelized Abstract Syntax Trees (MAST) is a proposal by Johnson Lau which reduces the size of smart contracts (complex scripts), and increases their privacy.masternode bitcoin bitcoin курс tether программа Peoplemicrosoft ethereum DAO FAQbitcoin отследить робот bitcoin sberbank bitcoin monero настройка bitcoin spin bitcoin check tether yota check bitcoin монеты bitcoin vector bitcoin
roulette bitcoin bitcoin take bitcoin landing space bitcoin js bitcoin tether io bitcoin calculator
генераторы bitcoin
blogspot bitcoin dwarfpool monero monero hardware ethereum news microsoft ethereum wounds healed, and a generation of radical entrepreneurs produced anсложность monero
bitcoin завести wikipedia cryptocurrency
bitcoin sportsbook avalon bitcoin mac bitcoin bitcoin land розыгрыш bitcoin казино ethereum ethereum создатель proxy bitcoin ccminer monero bitcoin comprar кран bitcoin bitcoin background шифрование bitcoin mining ethereum
polkadot su bitcoin тинькофф сеть bitcoin
monero майнить ethereum microsoft polkadot store банк bitcoin
bitcoin chart кошелька ethereum chart bitcoin bitcoin asic ethereum телеграмм bitcoin weekend bitcoin protocol bitmakler ethereum bitcoin деньги россия bitcoin сигналы bitcoin masternode bitcoin окупаемость bitcoin monero ico bitcoin 4pda монет bitcoin ethereum api
bitcoin department moneybox bitcoin home bitcoin
bitcoin алгоритм explorer ethereum bitcoin boom
usb tether bitcoin telegram
best cryptocurrency bitcoin airbitclub bitcoin greenaddress love bitcoin bitcoin sweeper bitcoin knots tether 2 настройка bitcoin
metatrader bitcoin mempool bitcoin bitcoin 10 transaction bitcoin прогнозы bitcoin полевые bitcoin bitcoin аккаунт
криптовалюта ethereum
крах bitcoin cgminer monero bitcoin mt4 android tether bitcoin click 2x bitcoin lamborghini bitcoin monero usd bitcoin рейтинг hash bitcoin
фото ethereum wired tether bitcoin monkey ethereum заработать нода ethereum bitcoin suisse форк bitcoin bitcoin etherium tether верификация bitcoin monkey ethereum бутерин bitcoin орг ethereum shares bitcoin spend bitcoin simple bitcoin client
получение bitcoin bitcoin фарминг #1 Smart contractsmonero калькулятор cryptocurrency magazine multiply bitcoin
moon ethereum bitcoin payment abc bitcoin халява bitcoin
neo bitcoin bitcoin основы bitcoin bitcointalk bitcoin bounty капитализация bitcoin
bitcoin play mini bitcoin demo bitcoin bitcoin nvidia coin bitcoin ava bitcoin q bitcoin bitcoin заработок monero форк ethereum акции
ethereum forks bitcoin clicks
bitcoin биржи компиляция bitcoin ethereum decred bitcoin weekly
bitcoin fees сбербанк bitcoin polkadot ico bip bitcoin bitcoin proxy ethereum io loco bitcoin billionaire bitcoin prune bitcoin bitcoin like bitcoin 1000 ютуб bitcoin ethereum скачать доходность ethereum When we ask questions like 'what is a cryptocurrency?', we are really asking 'what is a cryptocurrency going to do for me?'. The answer is — cryptocurrency is going to put you in control of your money. Cryptocurrency is going to make you a part of a global family that is free to trade across borders and could make the world a better place for all of us to live in.What is Blockchain?The Ethereum network is designed to produce a block every 12 seconds. Block times will vary based upon how long it takes miners to generate a hash that meets the required mining difficulty at that moment. 12 seconds was chosen as a time that is as fast as possible, but is at the same time substantially longer than network latency. A 2013 paper by Decker and Wattenhofer in Zurich measured Bitcoin network latency and determined that 12.6 seconds is the time it takes for a new block to propagate to 95% of nodes. The goal of the 12 second design is to allow the network to propagate blocks as fast as possible without causing miners to find a significant number of stale blocks.bitcoin information
abi ethereum bitcoin новости bitcoin de
ethereum новости lealana bitcoin логотип bitcoin simplewallet monero кошельки bitcoin ethereum цена bitcoin авито скрипты bitcoin bitcoin future bitcoin passphrase bitcoin fast bitcoin hesaplama цены bitcoin monero курс bitcoin зарабатывать bitcoin смесители 4pda tether bitcoin сбербанк bitcoin casino bitcoin space
space bitcoin андроид bitcoin bitcoin putin stealer bitcoin
ethereum хардфорк
As I mentioned earlier, you don’t need specialized ASICs for mining Monero. It can be done using a *****U or a GPU. But before proceeding, you need to know the two most important factors when selecting your hardware.фото bitcoin bitcoin prominer bitcoin wm nanopool monero ethereum news security bitcoin love bitcoin
bitcoin деньги продажа bitcoin planet bitcoin bitcoin webmoney doge bitcoin бесплатно ethereum In Corda’s case, the circle is made up of banks who would use a shared ledger for transactions, contracts and important documents.raspberry bitcoin Type of wallet: Hot walletBack to triple entry. The digitally signed receipt dominates the two entries of double entry because it is exportable, independently verifiable, and far easier for computers to work with. Double entry requires a single site to verify presence and preserve resiliance, the signed receipt does not.bitcoin land
If a blockchain is used as a database, the information going into the database needs to be of high quality. The data stored on a blockchain is not inherently trustworthy, so events need to be recorded accurately in the first place.With blockchain, we can imagine a world in which contracts are embedded in digital code and stored in transparent, shared databases, where they are protected from deletion, tampering, and revision. In this world every agreement, every process, every task, and every payment would have a digital record and signature that could be identified, validated, stored, and shared. Intermediaries like lawyers, brokers, and bankers might no longer be necessary. Individuals, organizations, machines, and algorithms would freely transact and interact with one another with little friction. This is the immense potential of blockchain.ethereum монета world bitcoin
difficulty bitcoin тинькофф bitcoin tether android apk tether 2x bitcoin monero cryptonote заработка bitcoin exchange ethereum ethereum crane
bitcoin вебмани bitcoin windows bitcoin фарминг
bitcoin wmx cryptocurrency charts ethereum форки bitcoin ферма bitcoin club bitcoin форки bitcoin ваучер dwarfpool monero bitcoin reddit bitcoin алгоритм продам ethereum взлом bitcoin advcash bitcoin торговать bitcoin bitcoin qr bonus ethereum bitcoin reddit byzantium ethereum порт bitcoin mine ethereum получить bitcoin
стоимость bitcoin bitcoin анимация bitcoin расшифровка bitcoin casinos bitcoin status
