Mining Ethereum |
Posted: August 6, 2021 |
Ethereum is a decentralized, open source software platform based on blockchain technology and used by its cryptocurrency, Ether. Ethereum is not only a platform but also a programming language that runs on a blockchain, which helps developers run smart contracts and distributed applications avoiding fraud, downtime, and third-party control. The relative simplicity of Mining Ethereum and its popularity has led many people to wonder, How do you become an Ethereum miner? But really, how does Ethereum mining work? Ethereum mining is based, as is the case with bitcoin, on solving mathematical equations on appropriate hardware. It involves miners from all over the world who use their time to solve complex cryptographic puzzles. If successful, miners will be able to add blocks to the Ethereum blockchain and earn a reward. The first miner to solve the equation gets a reward of 2 ETH per block to which are added all the transaction fees added to the block. Although it is possible to create only a total of 18 million new ETH per year, there is no limit on the total number of tokens that can be issued, unlike Bitcoin which has a finite number of tokens. Ethereum mining hardware or Mining Rig is a machine specially designed to mine Ethereum. The mining rig or rigs consist of a power supply, a mother, a GPU or graphics card, and a cooling device. In general, Ethereum can be mined with CPU and with GPU. CPU mining rigs are very popular with beginning miners as they are very inexpensive and easy to use. You only need a computer. However, it is an extremely slow process. Another effective way to mine Ethereum is the use of specialized hardware or GPU (graphics processing unit) which is what provides miners with the power of hashing. GPU mining rigs use graphics cards that do not run algorithms like CPU ones, but complete mining processes on closed networks. GPU mining rigs are superior to CPU mining rigs in almost every way, but the downside is that the former is very expensive. A quality GPU mining rig can cost a few thousand euros. That is why choosing the right hardware to mine Ether is crucial if you want to significantly reduce your electricity bill costs. So today we will show you some of the best Ethereum hardware.
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