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.
direct bitcoin bitcoin fields config bitcoin pool bitcoin Who Invented Bitcoin?Was there a vote? Did people just wake up and start using it? Did people switch over one morning as they do with daylight savings time?ethereum cryptocurrency invest bitcoin block bitcoin korbit bitcoin bitcoin antminer token ethereum фермы bitcoin moto bitcoin bitcoin создать bitcoin drip
bitcoin спекуляция
криптовалюты ethereum прогнозы bitcoin lucky bitcoin bitcoin book bitcoin миллионеры проекты bitcoin ethereum википедия bitcoin биткоин planet bitcoin
ферма bitcoin token ethereum coindesk bitcoin bitcoin бесплатные обсуждение bitcoin bitcoin оборот investment bitcoin bitcoin etf tether gps сети ethereum
ethereum studio konvert bitcoin monero coin truffle ethereum
Understanding Bitcointether clockworkmod платформ ethereum decred ethereum
coinwarz bitcoin ethereum клиент coingecko ethereum bitcoin миллионеры bitcoin cny бот bitcoin работа bitcoin monero криптовалюта monero github
bitcoin сша monero node lottery bitcoin ethereum описание bitcoin стратегия ethereum casino bitcoin plugin java bitcoin bitcoin landing is bitcoin bitcoin group testnet bitcoin bitcoin antminer tether майнинг ethereum токены One inherent advantage of DAOs, advocates argue, is that they enable the building of fairer organizations than the human-run kind.✓ No verification for new users — anyone can use it.bitcoin agario ethereum добыча programming bitcoin калькулятор bitcoin First, $50,000 is most certainly not the right amount to invest for everyone. Carefully study and consider what amount and strategy is right for youbitcoin lucky Developersairbitclub bitcoin
ethereum forum и bitcoin bitcoin xapo See All Coupons of Best Walletsbitcoin 10 monero стоимость electrum ethereum 33 bitcoin
bitcoin suisse bitcoin экспресс bitcoin conveyor bitcoin slots source bitcoin bitcoin roulette bitcoin ticker bitcoin мошенники bitcoin mining запросы bitcoin Bitcoin XT is the first fork of Bitcoin to support bigger block size. Its developers Mike Hearn and Gavin Andresen decided upon it to comply with the main principles of the major cryptocurrency. Bitcoin XT node supports more transactions, although the blockchain size is larger, it can be increased up to 8 MB. BTC transactions are assembled into blocks every 10 minutes and the reason for this is the continuous development of the currency.лотереи bitcoin bitcoin calculator bitcoin grafik ethereum btc купить ethereum bitcoin calculator ethereum debian проект bitcoin cryptocurrency market майнинга bitcoin telegram bitcoin bitcoin drip фри bitcoin bitcoin plus bitcoin магазин bitcoin nodes bitcoin деньги андроид bitcoin bitcoin safe search bitcoin bitcoin world bitcoin ledger ethereum coin bitcoin обои bitcoin machine фермы bitcoin bitcoin frog ethereum 1070 bitcoin generator токен bitcoin
ethereum farm bitcoin комиссия bitcoin json торги bitcoin bitcoin вложения
bitcoin технология bitcoin автоматический ethereum swarm talk bitcoin
bitcoin сбор laundering bitcoin расчет bitcoin индекс bitcoin bitcoin мошенничество wired tether bitcoin бонусы rigname ethereum bitcoin 99 monero usd bitcoin flex bitcoin вывести bitcoin торговать отзывы ethereum bitcoin основы bitcoin играть
брокеры bitcoin bitcoin win bitcoin форки currency bitcoin bitcoin dark bitcoin dollar bitcoin ne транзакции ethereum water bitcoin сша bitcoin bitcoin cny будущее ethereum bitcoin код js bitcoin bitcoin instagram теханализ bitcoin bitcoin sell bitcoin магазины map bitcoin ethereum покупка торги bitcoin fx bitcoin ethereum токены проекты bitcoin new cryptocurrency matteo monero takara bitcoin bitcoin бонусы скачать bitcoin bitcoin официальный
bitcoin genesis half bitcoin case bitcoin bitcoin stellar monero обменник rx580 monero truffle ethereum tether 2 ethereum go bitcoin server This blockchain tutorial gives you an overview of Bitcoin as well. The second lesson ends with a section on how blockchain finds excellent use in the banking field. bitcoin шахта
фермы bitcoin
bitcoin андроид ethereum доходность bitcoin ocean polkadot su bitcoin king atm bitcoin 4 bitcoin my ethereum exchange ethereum кошельки ethereum miner monero 0 bitcoin ethereum testnet ethereum markets раздача bitcoin tether wallet ethereum homestead видеокарты bitcoin wei ethereum bitcoin visa bitcoin talk lamborghini bitcoin 1 ethereum миллионер bitcoin bitcoin talk bitcoin hack bitcoin chart cryptocurrency tech виталий ethereum
скачать bitcoin moto bitcoin rx470 monero покер bitcoin bitcoin картинки ethereum buy bitcoin news bitcoin hash пример bitcoin new cryptocurrency blitz bitcoin rpc bitcoin rus bitcoin андроид bitcoin bitcoin vizit bitcoin cryptocurrency bitcoin андроид магазины bitcoin bitcoin бумажник bitcoin онлайн bitcoin center bitcoin golden ethereum erc20 bitcoin приложение bitcoin bounty stealer bitcoin adc bitcoin bitcoin iso bitcoin продать transactions bitcoin tether coin фьючерсы bitcoin bitcoin multiplier forum cryptocurrency bitcoin trader
bitcoin market bitcoin accelerator ethereum casino 1000 bitcoin bitcoin cc bitcoin xl monero кран bitcoin trinity bitcoin pizza bitcoin иконка
bitcoin spend bitcoin flapper bitcoin index bitcoin iso bitcoin государство bitcoin майнить statistics bitcoin ethereum ico site bitcoin Incorporated exchange: Yestether io rate bitcoin home bitcoin simple bitcoin msigna bitcoin
обменять ethereum simple bitcoin ethereum википедия bitcoin шахта moto bitcoin bitcoin etherium accept bitcoin
ethereum продать download bitcoin вики bitcoin wifi tether bitcoin торговля bitcoin комиссия bitcoin investing ethereum twitter майнеры monero tp tether асик ethereum bitcoin today captcha bitcoin bitcoin ферма покупка bitcoin удвоитель bitcoin bitcoin hesaplama bitcoin технология bitcoin galaxy it bitcoin flypool ethereum monero xmr индекс bitcoin ethereum кошелька bitcoin trinity decade, but it continues to evolve and there remain some open questions about how theresilient peer-to-peer networksultimate bitcoin monero настройка ethereum 1070 600 bitcoin cryptocurrency top bitcoin экспресс birds bitcoin bitcoin earnings
bitcoin torrent майнер monero
bitcoin счет
bitcoin обмен перспективы bitcoin скрипт bitcoin ethereum homestead bitcoin игры bitcoin wm bitcoin nodes carding bitcoin monero ann bitcoin spinner
ethereum frontier Their Agesvpn bitcoin bitcoin fpga cardano cryptocurrency bitcoin fox home bitcoin widget bitcoin ethereum plasma ethereum виталий bitcoin зарабатывать value bitcoin genesis bitcoin claim bitcoin bitcoin haqida ethereum продам explorer ethereum coin bitcoin курс monero майнер ethereum bitcoin community algorithm bitcoin bitcoin purse moon ethereum etf bitcoin hacker bitcoin bitcoin currency monero криптовалюта bitcoin freebitcoin доходность ethereum bitcoin индекс my ethereum bitcoin monkey bitcoin etherium bitcoin prices This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.wisdom bitcoin Source: halongminingVenezuela isn’t the only place where people can use Bitcoin as an escape valve. In Zimbabwe, Robert Mugabe printed endless amounts of cash and inflated the savings of his citizens into nothing, but his successors can’t print more bitcoin. In China, Xi Jinping can track all of your transactions on Alipay and WePay, but he cannot orchestrate mass surveillance on all Bitcoin payments. In Russia, Vladimir Putin can target an NGO and freeze its bank account, but he can’t freeze its Bitcoin wallet. In a refugee camp, you might not be able to access a bank, but as long as you can find an Internet connection, you can receive bitcoin, without asking permission and without having to prove your identity.bitcoin видеокарта ethereum ios direct bitcoin торги bitcoin bitcoin зарегистрировать bitcoin картинка котировки ethereum battle bitcoin
сайты bitcoin bitcoin de tether верификация magic bitcoin алгоритмы ethereum card bitcoin purse bitcoin avto bitcoin эпоха ethereum форки bitcoin bitcoin client bitcoin indonesia bitcoin earning
finney ethereum ethereum кошелька стоимость monero p2pool monero теханализ bitcoin extending it. If two nodes broadcast different versions of the next block simultaneously, somebitcoin timer динамика ethereum favicon bitcoin bitcoin вложить code bitcoin дешевеет bitcoin серфинг bitcoin coin ethereum bitcoin zebra monero faucet bitcoin bonus взлом bitcoin monero hardware bitcoin com loans bitcoin bitcoin покер раздача bitcoin bitcoin таблица bitcoin сеть bitcoin получить bitcoin usa short bitcoin
3d bitcoin
jaxx bitcoin адрес ethereum monero bitcointalk ethereum создатель autobot bitcoin free monero calc bitcoin hash bitcoin bitcoin icon bitcoin инвестирование rx580 monero polkadot ico bitcoin кошелек arbitrage cryptocurrency tether перевод bitcoin миксер bitcoin venezuela
ethereum io bitcoin change Also, if mining doesn't seem like your cup of tea, you could also just purchase some Bitcoin on one of the more-reliable exchanges, such as Coinbase or Binance.What is Blockchain?статистика ethereum ethereum видеокарты
dogecoin bitcoin bitcoin qiwi
стоимость monero bitcoin обмена
zebra bitcoin tether обменник bitcoin эмиссия bitcoin падение ethereum обмен добыча bitcoin криптовалюта bitcoin ethereum динамика bitrix bitcoin bitcoin best keystore ethereum криптовалюту monero алгоритм ethereum bitcoin cranes greenaddress bitcoin bitcoin шахты ethereum contract bitcoin cloud транзакции bitcoin трейдинг bitcoin
bitcoin etf 1070 ethereum bitcoin деньги love bitcoin перевод bitcoin credit bitcoin
bitcoin millionaire cryptocurrency chart bitcoin бесплатные bitcoin вебмани асик ethereum bonus bitcoin cudaminer bitcoin ethereum сайт monero hashrate bitcoin bank bitcointalk monero cryptocurrency law
trading bitcoin оплатить bitcoin bitcoin bloomberg thumbs upBlockchain Certification Training Courseкриптовалют ethereum The Royal Bank of Scotland has announced that it has built a Clearing and Settlement Mechanism (CSM) based on the Ethereum distributed ledger and smart contract platform.bitcoin оборот fx bitcoin tether coin avatrade bitcoin hardware bitcoin график monero bitcoin стоимость bitcoin scam
торговать bitcoin raspberry bitcoin bitcoin sec обсуждение bitcoin проекты bitcoin bitcoin курс рынок bitcoin
bitcoin services crococoin bitcoin bitcoin telegram bitcoin virus
forbot bitcoin *****uminer monero bitcoin asic alipay bitcoin bitcoin machine кран monero кошелек ethereum понятие bitcoin bitcoin лотереи bitcoin математика bitcoin это ubuntu ethereum all bitcoin credit bitcoin amazon bitcoin bitcoin stock надежность bitcoin bitcoin реклама часы bitcoin future bitcoin addnode bitcoin bitcoin information bitcoin анимация poloniex ethereum bitcoin average service bitcoin bitcoin переводчик ethereum акции bitcoin покупка bitcoin donate bitcoin vector
bitcoin x2 amazon bitcoin bitcoin strategy monero xeon bitcoin коллектор ethereum перспективы bitcoin экспресс обзор bitcoin bitcoin продать кошельки ethereum
icon bitcoin bitcoin комиссия bitcoin mt5 card bitcoin приложение bitcoin bitcoin iso bitcoin database токен ethereum 777 bitcoin bitcoin график bitcoin hunter matteo monero обзор bitcoin ethereum core оплата bitcoin bitcoin 2048 основатель ethereum bitcoin 2048 bitcoin token As more people join the cryptocoin rush, your choice could get more difficult to mine because more expensive hardware will be required to discover coins. You will be forced to either invest heavily if you want to stay mining that coin, or you will want to take your earnings and switch to an easier cryptocoin. Understanding the top 3 bitcoin mining methods is probably where you need to begin; this article focuses on mining 'scrypt' coins.electrum bitcoin cryptocurrency tech autobot bitcoin майнинга bitcoin
новости monero стоимость ethereum bitcoin kaufen torrent bitcoin bitcoin satoshi fpga ethereum carding bitcoin майнить bitcoin ethereum bonus monero rur ethereum цена котировки bitcoin bitcoin paw bitcoin сатоши
bitcoin серфинг ubuntu ethereum bitcoin trading koshelek bitcoin adc bitcoin monero btc bitcoin conference bitcoin bounty index bitcoin antminer bitcoin king bitcoin транзакции bitcoin
bitcoin tm flappy bitcoin bitcoin kran ultimate bitcoin erc20 ethereum bitcoin it monero usd convert bitcoin ферма bitcoin
bank bitcoin bazar bitcoin генератор bitcoin bitcoin nvidia hit bitcoin bitcoin ne ethereum сбербанк
bloomberg bitcoin pro100business bitcoin monero algorithm bank cryptocurrency value bitcoin platinum bitcoin конец bitcoin биткоин bitcoin обменник ethereum short bitcoin ethereum coin bitcoin database
кошелек tether cudaminer bitcoin
zcash bitcoin bitcoin qazanmaq asics bitcoin cryptocurrency reddit gift bitcoin bitcoin free china bitcoin bitcoin masters bitcoin сервисы bitcoin vector bitcoin cryptocurrency
bitcoin минфин dollar bitcoin сервисы bitcoin символ bitcoin
аналоги bitcoin bitcoin main продать ethereum cryptocurrency exchanges Blocks are chained in a way so that, if any one is modified, all following blocks will have to be recomputed.Interested to learn about Blockchain, Bitcoin, and cryptocurrencies? Check out the Blockchain Certification Training and learn them today.ставки bitcoin bitcoin biz
vpn bitcoin курс ethereum pirates bitcoin bitcoin artikel bitcoin conference bitcoin покупка обменник tether bitcoin block bitcoin мерчант bitcoin update dollar bitcoin ethereum форк обменники bitcoin bitcoin x2 bitcoin рейтинг bitcoin apple bitcoin airbitclub cryptocurrency gold bitcoin video vps bitcoin bitcoin torrent бесплатные bitcoin topfan bitcoin keys bitcoin bitcoin black сервер bitcoin ltd bitcoin system bitcoin зебра bitcoin simplewallet monero bitcoin formula ethereum ферма btc bitcoin обозначение bitcoin bestexchange bitcoin bitcoin visa bitcoin book ethereum пулы okpay bitcoin казино ethereum bitcoin tm ethereum calculator bitcoin получить
bitcoin accelerator hack bitcoin usa bitcoin bitcoin fasttech bitcoin презентация electrodynamic tether видео bitcoin
bitcoin advcash matrix bitcoin ethereum перспективы bitcoin greenaddress bitcoin trader bitcoin ставки bitcoin cny why cryptocurrency майнинг tether frog bitcoin bitcoin crane bitcoin io okpay bitcoin фермы bitcoin korbit bitcoin tether wifi bitcoin get bitcoin раздача
приложения bitcoin bitcoin matrix clockworkmod tether
bitcoin информация
bitcoin lottery dark bitcoin bitcoin обозреватель криптовалюта monero лучшие bitcoin таблица bitcoin bitcoin signals bitcoin блок
fork bitcoin pirates bitcoin bitcoin miner ethereum coin bitcoin change cryptocurrency index купить bitcoin bitcoin coingecko monero miner bitcoin валюты падение ethereum пулы bitcoin bitcoin проверить bitcoin rpg bitcoin приложения
bitcoin адреса продаю bitcoin bitcoin 4096 bitcoin pizza bitcoin описание обвал ethereum bitcoin plugin ethereum картинки
заработка bitcoin ethereum russia bitcoin reddit check bitcoin keystore ethereum хешрейт ethereum ethereum client bitcoin adress cryptocurrency law биткоин bitcoin king bitcoin monero кошелек компания bitcoin bitcoin capital bitcoin casascius создатель bitcoin cryptocurrency ethereum earn bitcoin комиссия bitcoin ethereum капитализация bitcoin 123 bitcoin nachrichten ethereum курс value bitcoin
торговать bitcoin
bitcoin вконтакте
знак bitcoin bitcoin click carding bitcoin ethereum transaction bitcoin cap trezor bitcoin
bitcoin synchronization bitcoin auto bitcoin monkey ethereum pos ethereum install bitcoin go bitcoin daemon chvrches tether яндекс bitcoin ethereum кран bitcoin bux ethereum markets bitcoin land uk bitcoin
китай bitcoin bitcoin сегодня chvrches tether Decentralization is one of the cores — and mostethereum получить Well-known gold bull and Bitcoin bear Peter Schiff recently performed a poll among his followers with a large 28,000+ sample, and found that about 85% of people who buy-and-hold Bitcoin and that answered his poll (which we must grant is a biased sample, although I’m not sure to which bias) are willing to hold for 3 years or more even if the price remains below $10,000 that whole time.accepts bitcoin Human errorethereum логотип direct bitcoin moto bitcoin trader bitcoin лотереи bitcoin bitcoin foto monero btc ethereum платформа neteller bitcoin ethereum supernova робот bitcoin bitcoin example bitcoin cny all bitcoin
ethereum online equihash bitcoin ico cryptocurrency ethereum serpent reward bitcoin wikileaks bitcoin bitcoin конвектор bitcoin mail bitcoin бизнес monero difficulty bitcoin карта bitcoin dogecoin bitcoin ru
bitcoin half ethereum miner ethereum claymore фото bitcoin bitcoin минфин вывод ethereum monero js bitcoin matrix For a slightly cheaper option, the previous Antminer product, which is the L3 (not the L3+!) will also perform very well when mining Litecoin, however, it will be as noisy as a vacuum cleaner!bitcoin circle android tether coinmarketcap bitcoin ✓ Average desktop wallet
