The Ethereum blockchain was launched on July 30, 2015 and has since become the second most important cryptocurrency project. It has a very broad functionality, including not only transactions and rewards for their verification, but also contains the basis for decentralized applications, smart contracts, monetization platforms, crowdfunding initiatives and much more. However, almost from the very beginning of the project’s launch, users are constantly reminded that Ethereum is “about” to switch to the Proof-of-Stake algorithm. What will actually happen to the traditional mining model in this case?
How a smart contract works
Why is everyone mining Ethereum?
The vast majority of miners currently mine the Ethereum cryptocurrency, as it occupies a leading position in terms of profitability on most video cards. You can easily verify this by opening the 2CryptoCalc mining profitability calculator.
The most profitable cryptocurrencies for mining
Despite the fact that this cryptocurrency is very demanding on the amount of internal memory of video cards and requires 8 MB more every 3-4 days, many beginners with one card try to mine it, and then suffer from too high commissions when receiving their payment. The 2Miners pool has created a unique payment system that allows you to receive your mined money daily and without commissions. Read more in this article.
Ethereum mining and Bitcoin reward
What mining algorithms exist on video cards?
Let's divide the most popular mining algorithms into two conditional groups - cold ❄️ and hot
