Ethereum CPU Mining: impressive solo or unprofitable hobby?
Ethereum to the surprise of many amateurs and experts took the second place in the list of crypto-currencies and most likely isn’t going to slip backwards that’s why the issue of ethereum CPU Mining is also actual. Moreover in the nearest future ETH can become a worthy competitor for bitcoin. Interest in ethereum led to the fact that many users became mine it actively. What are the benefits of this type of cryptocurrency? Why does it make sense to invest in its mining?
Advantages of Ethereum
Unlike the bitcoin which creator continues to hide his face and presented only his nickname ethereum has got real “fathers”. ETH was created with the help of investors by the programmer from Canada Vitaliy Buterin and his Swedish colleague.
Only thanks to ethereum cryptocurrency began to develop rapidly and everyone started talking about it. The blockchain technology ceased to be exclusively a term of programmers and became the basis for the of smart contracting and the prospects for business development.
Ethereum is predicted a great future not only in the role of a payment instrument but also as a form of custody of assets including investments. On the basis of the blockchain various financial projects and socio-economic platforms have already been built.
Another significant advantage of ETH is the relatively simple mining of this kind of cryptocurrency. So far solo-miners are taking an active part in the process. They are still getting ethereum on their home PC.
CPU as a tool to mine Ethereum
There are several ways of mining ETH. If you do not take into account faucets then a home or office computer can become a fully usable tool. Farm filled with its asic-devices and even a powerful graphics card in this case will not be needed. Of course such mining will not provide huge profit but for a beginner who does not plan to invest millions this way is the most suitable.
It goes without saying that your CPU must be modern and powerful for processing complex algorithms and if you install a special device for mining the result will be more effective. However the more powerful processor you have the higher consumption of electricity it needs. As for the manufacturers Intel and AMD are always at the top.
Users often face the dilemma of mining on the CPU or GPU. Of course a graphic card is much more effective because it is able to analyze hundreds of times more information compared to the processor. But why not to try especially when you have a perfect CPU on your PC board?
Let’s start up!
- Installing wallet
The wallet is the first thing that every cryptocurrency miner must have. To install the wallet, go to the official Ethereum.org website and install the appropriate program on the hard drive following the given recommendations.
- Registration on the pool
Choosing a pool is not difficult. There are many communities of users who mine ethereum. Take into account the performance of the pool, the principle of transferring profits and the convenience of the finance extract. Open Ethereum Pool, Dwarf Pool, Ethpool are well proven pools.
- Installing soft
A special program for running the computational process and the immediate mining of ETH is called Ethminer. To work effectively you need the latest version of soft so that there are no problems with the synchronization with the pool.
At the initial stage of installation a special script is created. A step-by-step instruction on how to do this is also presented at the official site ETH. When the installation is complete press start button and mining begins!
In a barrel of honey there is a fly in the ointment, isn’t there? Despite the availability of Ethereum the number of users ready to invest in the equipment is growing every day. And a user with one or two even the most powerful CPU or GPU loses to mining farms equipped with lots of the up-to-day asic miners. The process becomes more complex and the reward for the average user who practises ethereum CPU Mining is reduced.