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Ethereum but the just the split came down to a disagreement in the Ethereum community. In June of , a famous event called the DAO hack occurred. Hence, the Ethereum developers forked the code to rescue the users who had their ETH stolen in the hack.
The Ethereum classic developers dissapproved and kept on running the existing Etheruem blockchain. This is the now the Ethereum classic that we have today. Can We Mine Ethereum Classic? This means it can be mined, and the good news is that the network difficulty for Ethereum Classic is far lower than for Ethereum, making it more suitable for miners using GPUs rather than ASIC rigs. One of the best places you can look at to get an idea of the mining profitability of various coins is whattomine.
Ethereum classic often features as one of the most profitable coins to mine. Below is a screenshot from the ETC mining calculator. This is almost half of that for the hashpower required to breakeven on Ethereum. Given that they are both mined with the Etash mining algorithm, it is a no-brainer where you will turn your hashing power at.
It also supports dual mining, so when you become more experienced you can dual mine Ethereum Classic and Siacoin or Decred among others. This is the easiest solution, but also gives the lowest returns. Plus Nanopool is one of the most popular mining pools, with global servers and enough history that I know they are trustworthy.
First head over to Nanopool. When you click the appropriate button it will take you to GitHub to download the mining software. We will take a look at mining with both the Finminer and Claymore although the latter is preferred.
Using the Claymore Miner Once you have downloaded the Claymore files and unzipped them, you need to generate a configuration file to run it. Is it possible to mine Ethereum Classic? ETC often features as one of the best digital assets to mine on the platform. Mining Ethereum Classic through a pool is profitable today.
But again, it is worth comparing the numbers at the time you read this article. Ethereum Classic mining is still profitable if you believe in its potentials. Nonetheless, it is wise to mine this digital asset and send to your ETC wallet and sell it in the future at higher prices.
What algorithm does Ethereum Classic use? Both Ethereum Classic blockchain and Ethereum blockchain use the same mining algorithm because they use PoW. Both digital assets are mined using Ethash algorithm, but the only difference is the hash rate, the capacity of the threshold for breakeven mining, and rewards per block.
It is also essential to note that you can find Ethereum Classic block much faster. The information may be different when reading this, so it is better to compare the current knowledge on WhatToMine. Why are Ethereum Classic miners important? Miners secure blockchain networks, and they also help them become more decentralized.
How do miners secure blockchain networks? An attacker needs to spend the same digital asset more than once for a double-spend attack to occur. The act also occurs when an attacker steals funds or spends what has already been spent on the blockchain network. Double-spending usually occurs in smaller blockchain networks with little computing power or hash rate.
To prevent double-spending on blockchain networks there is the need for a distributed network of miners. Ethereum Classic miners work together to detect valid transactions and disregard unverified ones. The incentives issued to miners help compensate and motivate them to continue mining to secure the blockchain network.
What do you need to mine Ethereum Classic? Source: NotebookCheck 1. Keep an ETC wallet handy to store your tokens. Mining Ethereum Classic involves the same process as you mine other PoW coins. There are certain things you need in mining Ethereum Classic. To begin with, you need a wallet to store your Ethereum Classic tokens.
Aug 04, · Today im showing you how to mine Ethereum ETH and Ethereum Classic ETC with the newes Claymore Miner v that supports AMD Vega cards!Dual mining Tutorial:h. Ether-1 is an Ethereum based blockchain that integrates POW and a two tier masternode system to secure the network. Ether-1 uses the collective power of hundreds of masternodes to power . Jun 13, · The top-notch software miners that you can use are Claymore Dual Ethereum miner, GMiner, and NBMiner. These software miners support dual mining. Also and you can .