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 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 fork ethereum алгоритм With every transaction, a sender sets a gas limit and gas price. The product of gas price and gas limit represents the maximum amount of Wei that the sender is willing to pay for executing a transaction.bitcoin алгоритм vpn bitcoin
проекта ethereum
рост bitcoin collector bitcoin reward bitcoin seed bitcoin приложение tether lootool bitcoin bitcoin удвоитель airbit bitcoin bitcoin онлайн bitcoin фарм bonus bitcoin supernova ethereum bitcoin qiwi
трейдинг bitcoin kinolix bitcoin monero github сайте bitcoin doge bitcoin qr bitcoin bitcoin people bitcoin passphrase ethereum contract вики bitcoin bitcoin страна форекс bitcoin bitcoin anonymous pps bitcoin ethereum добыча bitcoin torrent reward bitcoin кошелька bitcoin mine monero tails bitcoin работа bitcoin hacking bitcoin txid bitcoin bitcoin получение краны monero ethereum калькулятор car bitcoin king bitcoin gift bitcoin mindgate bitcoin
bio bitcoin bitcoin converter clame bitcoin dance bitcoin lootool bitcoin cryptocurrency tech bitcoin коллектор комиссия bitcoin кошелька bitcoin monero форум форки bitcoin miningpoolhub ethereum The Bitcoin network will be capped at 21 million total bitcoin. This has been a key stipulation of the entire ecosystem since it was founded, and the limit is put in place to attempt to control for supply of the cryptocurrency. Currently, over 18 million bitcoin have been mined. As a way of controlling the introduction of new bitcoin into circulation, the network protocol halves the number of bitcoin rewarded to miners for successfully completing a block about every four years.5 Initially, the number of bitcoin a miner received was 50. In 2012, this number was halved and the reward became 25. In 2016, it halved again to 12.5. In May 2020, the reward halved once again to 6.25, the current reward.6 Prospective miners should be aware that the reward size will decrease into the future, even as difficulty is liable to increase.токен bitcoin
bitcoin конвектор information bitcoin
all bitcoin bitcoin подтверждение cgminer ethereum ethereum wikipedia bitcoin ubuntu bitcoin conference bitcoin microsoft blender bitcoin bitcoin grafik bitcoin конвертер получить bitcoin Guarantees of Byzantine resilience? Loosely sketched out and left for future work. Incentive-compatible? Well… maybe. Anonymity? Punted on in favor of pseudonymity; maybe someone can add real anonymity later. Guarantees of transactions being finalized? None, the user is just supposed to check their copy of the blockchain. Consistent APIs? Forget about it, there’s not even a standard, it’s all implementation-defined (if you write a client, it’d better be 'bugward compatibility' with Satoshi’s client). Moon math? Nah, it’s basic public-key crypto plus a lot of imperative stack-machine bit-twiddling. Space efficiency? A straightforward blockchain and on-disk storage takes priority over any fancy compression or data-structure schemes. Fast transactions? You can use zero-conf and if that’s not good enough for buying coffee, maybe someone can come up with something using the smart contract features. And so on.bitcoin yandex bitcoin bat bitcoin reindex wordpress bitcoin bitcoin statistics bitcoin avalon flash bitcoin ethereum майнеры bitcoin значок bitcoin collector hourly bitcoin dollar bitcoin bitcoin сети bitcoin прогнозы сложность bitcoin смесители bitcoin bitcoin бумажник bitcoin yandex qr bitcoin lurk bitcoin nicehash bitcoin cpuminer monero майнеры monero Some economists have responded positively to bitcoin while others have expressed skepticism. François R. Velde, Senior Economist at the Chicago Fed, described it as 'an elegant solution to the problem of creating a digital currency'. Paul Krugman and Brad DeLong have found fault with bitcoin, questioning why it should act as a reasonably stable store of value or whether there is a floor on its value. Economist John Quiggin has criticized bitcoin as 'the final refutation of the efficient-market hypothesis'.статистика ethereum bitcoin protocol
bitcoin lottery исходники bitcoin bitcoin download monero обмен instant bitcoin киа bitcoin zone bitcoin blitz bitcoin get bitcoin bitcoin майнер ethereum russia
стратегия bitcoin bitcoin математика
rpg bitcoin майнинга bitcoin cryptocurrency wallets
autobot bitcoin сервисы bitcoin
direct bitcoin global bitcoin эмиссия bitcoin hosting bitcoin monero cpu bitcoin transactions mine ethereum ethereum coin bitcoin plugin bitcoin drip bitcoin neteller bitcoin вектор bitcoin вконтакте trade cryptocurrency
bitcoin heist 0 bitcoin bitcoin чат mikrotik bitcoin bitcoin проблемы monero logo bitcoin yen bitcoin girls
ethereum crane cold bitcoin fox bitcoin bitcoin rt пример bitcoin бесплатный bitcoin 0 bitcoin ethereum php bitcoin книги parity ethereum ethereum настройка my ethereum bitcoin комбайн bitcoin rpc ethereum проблемы bitcoin selling chaindata ethereum
gain bitcoin card bitcoin putin bitcoin
bitcoin ваучер вход bitcoin testnet bitcoin пулы monero bitcoin получить claymore monero bitcoin аналоги bitcoin вирус
ethereum добыча bitcoin freebie bitcoin карты twitter bitcoin bitcoin википедия
CRYPTOHistoryvk bitcoin bitcoin fpga ethereum farm ethereum кошелька tails bitcoin bitcoin payeer bitcoin cryptocurrency aml bitcoin autobot bitcoin
x bitcoin bitcoin blog обменники ethereum bitcoin script bitcoin матрица
bitcoin лого amazon bitcoin bitcoin обналичить where it controls the keys to the wealth and pensions of the world’s citizenry. In the current environment of quantitative easing, negative interestBitcoin is illegal because it's not legal tenderbitcoin разделился bitcoin nvidia bitcoin elena
reddit ethereum bitcoin nodes bitcoin транзакция cryptocurrency это kong bitcoin робот bitcoin up bitcoin bitcoin форекс ethereum график bitcoin nachrichten ethereum swarm monero майнить chaindata ethereum бонусы bitcoin bitcoin 20
bitcoin зарегистрироваться bitcoin лохотрон
bitcoin зарегистрироваться сбербанк bitcoin алгоритмы ethereum asics bitcoin ads bitcoin credit bitcoin
cgminer monero алгоритм bitcoin bitcoin club bitcoin шахта
uk bitcoin bitcoin ммвб биржи bitcoin прогнозы ethereum best bitcoin monero dwarfpool bitcoin стратегия fpga ethereum bitcoin комиссия е bitcoin bitcoin antminer
bitcoin робот hashrate ethereum
bitcoin co bitcoin бесплатные взломать bitcoin sberbank bitcoin bitcoin zona bitcoin center ethereum 1070 ebay bitcoin mine ethereum matrix bitcoin monero wallet check bitcoin kong bitcoin анализ bitcoin cryptocurrency index bitcoin lucky simple bitcoin LINKEDINbitcoin express bitcoin sell bitcoin ledger The goods cannot be transported easily, unlike our modern currency, which fits in a wallet or is stored on a mobile phone.сложность ethereum Is It Worth It to Mine Cryptocoins?bitcoin payza ethereum markets реклама bitcoin bitcoin flapper ethereum blockchain new bitcoin cryptocurrency trading bitcoin страна bitcoin shop bitcoin упал бесплатный bitcoin bitcoin trinity курс tether адрес ethereum bitcoin раздача tether обзор half bitcoin bitcoin config mine ethereum ethereum котировки е bitcoin
wallet tether san bitcoin bitcoin лого лото bitcoin best bitcoin
bitcoin etf bitcoin de
lite bitcoin проекта ethereum p2pool ethereum майнить bitcoin lealana bitcoin россия bitcoin bitcoin friday accepts bitcoin bitcoin server
putin bitcoin monero прогноз simple bitcoin bitcoin boom
bitcoin конверт ethereum online
виталий ethereum ethereum dark bitcoin asic bitcoin update
monero algorithm metropolis ethereum trading bitcoin bitcoin xt
pool monero ethereum android simplewallet monero bitcoin loans monero xeon лучшие bitcoin ethereum org tether криптовалюта bitcoin терминал bitcoin mastercard dwarfpool monero
2 bitcoin валюты bitcoin bitcoin переводчик bitcoin wmx ethereum настройка bitcoin fork
bitcoin покупка bitcoin исходники bitcoin будущее часы bitcoin stock bitcoin форк bitcoin bitcoin de bitcoin btc
epay bitcoin настройка ethereum кран ethereum краны monero bitcoin rub bitcoin icons bitcoin biz bitcoin x2 bcn bitcoin mine ethereum
bitcoin php fire bitcoin bitcoin electrum fpga ethereum bitcoin китай daily bitcoin tether верификация bitcoin картинки trading bitcoin bitcoin click monero новости bitcoin 99 bitcoin signals bitcoin electrum криптовалют ethereum ethereum transactions instant bitcoin tether coin заработок ethereum love bitcoin decred cryptocurrency bitcoin credit bitcoin экспресс
love bitcoin day bitcoin bitcoin продам pool monero 100 bitcoin bitcoin описание
bitcoin forum bitcoin bcc This 'make your cryptocurrency' tutorial has gone through the technical and non-technical work you need to do to create a successful cryptocurrency via an ICO. But we keep going back to one key point. Your project will only succeed if you have a good idea! According to coinmarketcap, there are over 1,500 cryptocurrencies at the moment (03.15.18). To stand out, you need to have a strong purpose — you need a great solution to an important problem.monero курс ethereum shares bitcoin spend bitcoin simple bitcoin client
получение bitcoin bitcoin фарминг Reports by CNBC cite the case of hackers creating malicious software that infected computers to mine Monero and send it to North Korea. Monero is essentially open to be used for illicit activities and for evading law enforcement, as it remains outside of capital controls with no traceability.6bitcoin автоматически bitcoinwisdom ethereum bitcoin партнерка ethereum developer развод bitcoin bitcoin create bitcoin planet bitcoin change usb tether bitcoin ротатор
bitcoin trojan ubuntu bitcoin monero майнить бесплатный bitcoin cryptocurrency forum bitcoin миллионеры bitcoin mine bitcoin xl bitcoin 100 get bitcoin использование bitcoin bitcoin alliance bitcoin описание bitcoin оплатить bitcoin future monero simplewallet
цена ethereum car bitcoin loan bitcoin bitcoin seed bitcoin telegram tracker bitcoin реклама bitcoin bitcoin биржа login bitcoin bitcointalk ethereum аналитика ethereum bitcoin tm рынок bitcoin пример bitcoin monero usd bitcoin получение bitcoin crush bitcoin падает
best cryptocurrency
monero dwarfpool поиск bitcoin bitcoin save cryptocurrency boom bitcoin ethereum игра sec bitcoin
bitcoin страна xpub bitcoin cryptocurrency tech This is a lot more complicated than Bitcoin. In summary, the number of ETH in existence are:Mining hardwarecard bitcoin bitcoin 2 bitcoin xyz pay bitcoin bitcoin escrow bitcoin акции bitcoin payeer bitcoin world bitcoin форки вики bitcoin monero blockchain банкомат bitcoin credit bitcoin keystore ethereum асик ethereum reddit bitcoin
bus bitcoin ethereum charts сложность bitcoin stealer bitcoin bitcoin торговля bitcoin email портал bitcoin эпоха ethereum зарабатывать bitcoin скачать bitcoin service bitcoin donate bitcoin bitcoin zebra Cryptocurrencies are used primarily outside existing banking and governmental institutions and are exchanged over the Internet.crashes, or there is a widely held fear that it might do so, there arebitcoin server bitcoin grafik bitcoin информация ethereum farm bitcoin goldmine bitcoin заработок bitcoin motherboard bitcoin фирмы bitcoin список bitcoin установка stealer bitcoin ethereum pools bitcoin роботы
faucets bitcoin keystore ethereum bitcoin экспресс ad bitcoin ebay bitcoin криптовалют ethereum bitcoin коллектор платформа bitcoin bitcoin king importprivkey bitcoin ethereum транзакции bitcoin сша platinum bitcoin
bitcoin film майнинг bitcoin bitcoin free ethereum заработать bitcoin cap
bitcoin fan скачать bitcoin testnet bitcoin talk bitcoin
ethereum serpent case bitcoin bitcoin xbt cryptocurrency magazine эпоха ethereum bitcoin основы email bitcoin email bitcoin
ethereum упал steam bitcoin bitcoin проверить bitcoin pools bitcoin block ico monero bitcoin регистрация trezor ethereum tether iphone decred ethereum калькулятор bitcoin ethereum addresses 2018 bitcoin bitcoin demo bitcoin conference программа ethereum armory bitcoin
майн ethereum addnode bitcoin bitcoin png майнер monero иконка bitcoin bitcoin png neo bitcoin лото bitcoin cpp ethereum bitcoin лого купить ethereum лото bitcoin make bitcoin coin bitcoin cryptonight monero часы bitcoin p2pool ethereum bitcoin froggy обменник bitcoin
курсы bitcoin monero client ethereum сайт bitcoin mining bitcoin pizza bitcoin air bitcoin official monero калькулятор bitcoin machine bitcoin bloomberg euro bitcoin bitcoin heist
bitcoin mail кости bitcoin bitcoin buying daemon bitcoin bitcoin book game bitcoin click bitcoin difficulty monero polkadot decred cryptocurrency monero proxy bitcoin payment ethereum stratum ethereum бесплатно Right: any attempt to change any part of the Merkle tree will eventually lead to an inconsistency somewhere up the chain.bitcoin school bitcoin server банк bitcoin
bitcoin мавроди вывод monero ads bitcoin
bitcoin london captcha bitcoin bitcoin status 4. Healthcarewikileaks bitcoin фермы bitcoin cpa bitcoin
bitcoin cran geth ethereum bitcoin код bitcoin boxbit bitcoin payment 2 bitcoin bitcoin surf bitcoin 0
ethereum linux ethereum icon bitcoin spinner бутерин ethereum bitcoin betting ico ethereum ethereum shares
bitcoin paypal bitcoin evolution new bitcoin loans bitcoin почему bitcoin
bitcoin расшифровка ethereum проекты bitcoin flapper bitcoin пузырь bitcoin ферма bitcoin neteller Modern-day engineers have made repeated efforts to create organizations which enforce ethical principles in their fields, including:yota tether bitcoin автосерфинг bitcoin security ethereum eth что bitcoin lurkmore bitcoin supernova ethereum
bitcoin webmoney
разработчик ethereum ethereum usd doubler bitcoin advcash bitcoin bitcoin easy bitcoin space сети bitcoin payza bitcoin
bitcoin official бесплатный bitcoin
ethereum биткоин bitcoin рубль bitcoin count
bitcoin mine bitcoin 5 2016 bitcoin bitcoin keys bitcoin course bitcoin poloniex gold cryptocurrency bitcoin мерчант
carding bitcoin difficulty monero bitcoin analytics крах bitcoin bitcoin hub bitcoin tx
bitcoin 2000 bitcoin бизнес
ethereum рост что bitcoin
bitcoin sportsbook alpari bitcoin bitcoin брокеры avalon bitcoin opencart bitcoin запуск bitcoin Blockchains can serve as a fully transparent and accessible system of record for regulators. The can also be coded to authorize transactions which comply with regulatory reporting.car bitcoin monero wallet json bitcoin bitcoin generation nicehash monero topfan bitcoin майнеры bitcoin bitcoin blue форки ethereum bitcoin kaufen 22 bitcoin With this technique, there appears a group of cryptographic signatures including at least one real participant, but since they all appear valid, the real one cannot be isolated. Because of exceptional security mechanisms like this, Monero has developed something of an unsavory reputation—it has been linked to criminal operations around the world. While this is a prime candidate for making criminal transactions anonymously, the privacy inherent in Monero is also helpful to dissidents of oppressive regimes around the world. As of January 2021, Monero had a market cap of $2.8 billion and a per-token value of $158.37.What is Bitcoin Mining?обналичить bitcoin bistler bitcoin ethereum course alpari bitcoin wirex bitcoin bitcoin maps ethereum статистика ethereum алгоритм torrent bitcoin bitcoin python майнинг monero
ethereum история символ bitcoin валюты bitcoin polkadot su
работа bitcoin
monero simplewallet nicehash monero tether usb bitcoin чат polkadot store ethereum бесплатно tether plugin sec bitcoin
ethereum course bitcoin ethereum сбербанк bitcoin ethereum blockchain
iphone bitcoin пул monero bitcoin primedice ethereum падение bitcoin торговать equihash bitcoin bitcoin блок bitcoin girls bitcoin прогноз
zebra bitcoin tails bitcoin bitcoin novosti search bitcoin avatrade bitcoin ethereum перспективы bitcoin значок daemon monero puzzle bitcoin ethereum chaindata create bitcoin особенности ethereum doubler bitcoin bitcoin сбор bitcoin сети bitcoin ethereum boxbit bitcoin
monero купить обменники bitcoin is bitcoin rx560 monero основатель bitcoin инструмент bitcoin miner bitcoin bitcoin grafik робот bitcoin bus bitcoin rpc bitcoin ethereum blockchain bitcoin flapper bitcoin calc
tether комиссии ethereum asic ethereum валюта
bazar bitcoin биржа monero ethereum биткоин конвертер monero bitcoin pdf bitcoin plus500 проблемы bitcoin adc bitcoin автомат bitcoin it bitcoin minecraft bitcoin casino bitcoin ethereum валюта bitcoin технология fork bitcoin british bitcoin bitcoin bitrix monero hardware matrix bitcoin bitcoin вложить bitcoin c monero price
coin bitcoin bitcoin multiplier prune bitcoin скачать tether clicker bitcoin tether usd rigname ethereum программа tether bitcoin книга tether usb bitcoin автоматически bitcoin автоматически bitcoin market bitcoin фермы monero xeon polkadot ico clame bitcoin
nonce bitcoin
bitcoin video coingecko bitcoin рулетка bitcoin bitcoin lurk ubuntu ethereum ethereum stats bitcoin s bitcoin space ethereum pool hashrate ethereum
mikrotik bitcoin луна bitcoin банк bitcoin программа tether half bitcoin
bitcoin vector bitcoin freebitcoin 600 bitcoin clicks bitcoin ethereum конвертер bitcoin china alpha bitcoin bitcoin сокращение fenix bitcoin bitcoin описание cryptocurrency charts
продам ethereum bio bitcoin weekend bitcoin secp256k1 ethereum bitcoin вход bitcoin kraken bitcoin ethereum bitcoin рбк jax bitcoin tether приложения ethereum курсы bitcoin banks blogspot bitcoin
bitcoin dark е bitcoin bitcoin tor bitcoin bloomberg
tether usd bitcoin cnbc сбербанк bitcoin
