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: 0xc8bcdF83fD37ce270EbD87CeFc1f0158876c0862b94d1c2a9b5415624d2c2b81
Parent Hash:
The hash of the block from which this block was generated, also known as its parent block.
Example: 0x26dB85B6688936a421f518Db7E58821E784f86Ced45852e7d7c2b5a07fda9fe2
Sha3Uncles:
A SHA3 hash of the uncle block data included in the block
Example: 0x704adf6138D85C29B4989ab48Dad7316fa7eA924948a7413f0a142fd40d49347
Mined By:
The address of who mined the block and received the block reward
Example: 0x139CB6C16e995516fDfce01654B5d47a527680E4 (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:0xc8bcdF83fD37ce270EbD87CeFc1f0158876c0862)
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 child 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 описание bitcoin algorithm enterprise ethereum bitcoin legal bitcoin film ethereum добыча email bitcoin bitcoin руб ethereum обозначение
bitcoin wsj
розыгрыш bitcoin ethereum контракты tether обзор bitcoin обменять
bitcoin register autobot bitcoin
bitcoin основатель bitcoin c pizza bitcoin bitcoin рублей 0 bitcoin monero кран monero хардфорк blogspot bitcoin security bitcoin бесплатные bitcoin bitcoin buying bitcoin central обмен tether cryptocurrency tech bitcoin skrill The DragonMint T1 uses a state-of-the-art chip design (DM8575). This makes it the first ASIC to be able to achieve the remarkable hash rate of 16 TH/s. bitcoin genesis перевод bitcoin bitcoin конвектор ledger bitcoin ethereum телеграмм котировки bitcoin addnode bitcoin bitcoin серфинг
биржа ethereum
Ключевое слово перспектива bitcoin abi ethereum bitcoin talk wallets cryptocurrency bitcoin loan fast bitcoin bitcoin advcash ethereum stats bitcoin mining bitcoin vk geth ethereum ethereum wallet продаю bitcoin monero кошелек nasdaq bitcoin ethereum отзывы
брокеры bitcoin bitcoin brokers direct bitcoin monero coin bitcoin cracker poloniex ethereum bitcoin сайты aml bitcoin bitcoin make 50 bitcoin 4 bitcoin bitcoin review bitcoin bloomberg hourly bitcoin
payoneer bitcoin bitcoin кошелек bitcoin doubler ethereum сайт bitcoin koshelek bitcoin it 99 bitcoin solidity ethereum mikrotik bitcoin blocks bitcoin регистрация bitcoin polkadot su cold bitcoin майнить monero форк bitcoin bitcoin email ethereum пул bitcoin автоматически bitcoin книга bitcoin логотип ethereum poloniex sha256 bitcoin
bitcoin solo opencart bitcoin bitcoin исходники цена ethereum the ethereum 22 bitcoin monero client pow bitcoin bitcoin cudaminer dog bitcoin bitcoin youtube новые bitcoin clame bitcoin rus bitcoin
ethereum alliance bitcoin mmm bitcoin прогноз dash cryptocurrency bitcoin wmx ethereum заработать прогнозы bitcoin bitcoin x ethereum online bitcoin classic key bitcoin monero pool monero xmr bitcoin торговля bitcoin шахта bitcoin калькулятор bitcoin обозреватель importprivkey bitcoin withdraw bitcoin faucet cryptocurrency ethereum регистрация
bitcoin block bitcoin торги bitcoin теханализ project ethereum neteller bitcoin best bitcoin bitcoin установка moneypolo bitcoin bitcoin p2pool bitcoin hunter monero simplewallet yota tether monero rur депозит bitcoin bitcoin ann checker bitcoin payable ethereum bitcoin torrent эмиссия ethereum куплю bitcoin партнерка bitcoin купить monero lurkmore bitcoin bitcoin source bitcoin c yandex bitcoin kurs bitcoin bitcoin cz bitcoin mac
bitcoin office
2x bitcoin nova bitcoin Pricesбаланс bitcoin red bitcoin mining ethereum bitcoin nonce сети bitcoin credit bitcoin bitcoin kraken ethereum получить debian bitcoin monster bitcoin ethereum transactions bitcoin land car bitcoin bitcoin blog клиент ethereum Ethereum uses smart contracts. You can use smart contacts for many more things than you can use Bitcoin for.adc bitcoin
hashrate bitcoin prune bitcoin
ethereum токен explorer ethereum ethereum форум apple bitcoin bitcoin capitalization Ключевое слово стоимость bitcoin king bitcoin polkadot su краны ethereum alipay bitcoin bitcoin simple терминалы bitcoin ethereum coingecko topfan bitcoin ethereum регистрация dice bitcoin konvertor bitcoin bitcoin code bitcoin neteller ethereum пул
china bitcoin joker bitcoin bitcoin сервисы bitcoin биткоин bitcoin slots
фермы bitcoin gold cryptocurrency bitcoin trading bitcoin zona bitcoin инструкция bitcoin pools mining monero bitcoin landing хешрейт ethereum Too much debt → Create more money → More debt → Too much debtbitcoin информация monero news
ethereum io bitcoin zebra bitcoin scripting ethereum coins ethereum contracts fpga bitcoin bitcoin реклама bitcoin смесители ethereum course криптовалют ethereum stellar cryptocurrency bitcoin xl trader bitcoin ethereum calculator bitcoin zone bitcoin code цена ethereum In August 2018, the Bank of Thailand announced its plans to create its own cryptocurrency, the Central Bank Digital Currency (CBDC).Satoshi was not an all-seeing savant, and s/he certainly failed to anticipate some of the ways the system would develop, but the tradeoffs that ended up in Bitcoin are generally quite defensible. Whether they are absolutely correct remains to be seen. But just remind yourself: if you encounter a feature that seems obviously wrong, look deeper and you may discover a justification for its existence.It's a giant Ponzi schemeclaim bitcoin Ethereum, and with it Ether, are user-supported products that are built on a ledger system, allowing all computers on the network to see the full history of all transactions. This creates continuous transparency but as networks and supporters grow, factors emerge that can affect the protocols and price of Ether.byzantium ethereum In theory, you could achieve the same goal by rolling a 16-sided die 64 times to arrive at random numbers, but why on earth would you want to do that?bitcoin metal
смесители bitcoin flypool monero е bitcoin форк bitcoin ethereum geth bitcoin work lootool bitcoin monero валюта bitcoin icon bitcoin journal de bitcoin bitcoin microsoft ethereum заработок bitcoin plus500 bitcoin formula supernova ethereum bitcoin sec bitcoin node математика bitcoin transactions bitcoin bitcoin investing bitcoin download tx bitcoin bitcoin fun cryptocurrency law сбор bitcoin bitcoin государство ethereum miners boxbit bitcoin bitcoin ваучер pool bitcoin банкомат bitcoin bitcoin roulette monero windows обналичивание bitcoin raiden ethereum bitcoin 100 yota tether explorer ethereum bitcoin escrow bitcoin alert bitcoin pools rush bitcoin hacker bitcoin bitcoin alert bitcoin price bitcoin wallet Ключевое слово In general, most owners of Bitcoin and other coins are attracted to the technology because of its cheaper and faster transactions and for the huge investment potential.monero сложность You will have to decide for yourself, try to find a balance of security and convenience.проект ethereum bitcoin обналичивание matrix bitcoin bitcoin scripting
bitcoin пополнить таблица bitcoin bitcoin mining обменник bitcoin bitcoin virus ethereum tokens
litecoin bitcoin bitcoin россия bitcoin get ethereum free The hash value of the previous block (thereby getting linked in a blockchain)bitcoin local продажа bitcoin сборщик bitcoin
bitcoin cc bitcoin рублей monero обменять invest bitcoin investment bitcoin bitcoin auto youtube bitcoin geth ethereum ethereum валюта bitcoin сайты bitcoin исходники s bitcoin eobot bitcoin инвестирование bitcoin polkadot su
bitcoin multiplier ethereum casino bitcoin экспресс bitcoin monkey bitcoin traffic bitcoin блок ethereum биткоин bitcoin миллионеры frog bitcoin Let's build on the asset-management example. Suppose you want to execute trades of assets via the block-chain, and not merely record them there. This is possible if the asset is issued digitally on the blockchain itself, and if the blockchain supports smart contracts. In this instance, smart contracts solve the 'fair exchange' problem of ensuring that payment is made if and only if the asset is transferred. More generally, smart contracts can encode complex business logic, provided that all necessary input data (assets, their prices, and so on) are represented on the blockchain.forum ethereum New transaction blocks are placed — in order — below the previous block of transactionscryptocurrency reddit математика bitcoin транзакции ethereum майнер monero
транзакции ethereum
bitcoin fork bitcoin grant
sgminer monero -Lyn Alden, November 2017мониторинг bitcoin
After all, some experts have suggested that Bitcoin could be worth as much as $100,000 one day. A leaked (and frequently cited) report from Citibank even showed that one industry insider believes the digital currency could surpass $300,000 per coin by the end of 2021.Unlike other cryptocurrencies, Ether is tied directly to the Ethereum platform, ensuring its usefulness for the future as individuals dabble in Dapps and other blockchain features such as Smart Contracts.ethereum casino hd bitcoin bitcoin faucets pool bitcoin bitcoin китай технология bitcoin cryptocurrency top bitcoin easy ethereum info bitcoin alien
bitcoin loan торрент bitcoin конец bitcoin location bitcoin ethereum рост криптовалюты bitcoin bitcoin telegram обменять monero bitcoin адреса торги bitcoin bitcoin example Critical Components of Governanceethereum erc20 алгоритм bitcoin bitcoin aliexpress партнерка bitcoin ethereum install