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Posts Tagged ‘ETC mining

Now you have more options to increase your mining profit by dual mining not only Ethereum Classic (ETC) and Zilliqa (ZIL) on the mining pool thanks to the addition of EthereumPoW (ETHW) and EthereumFair (ETHF) pools that allow dual mining together with ZIL. EthereumPoW (ETHW) and EthereumFair (ETHF) are forks from Ethereum (ETH) that split after the Merge and continued to exist as Proof of Work blockchains. So, unlike Ethereum (ETH) that is now Proof of Stake (PoS) only you can mine these using GPUs or Ethash mining ASICs.

These two “newcomers” are much smaller in terms of networks with ETHW being the larger and more talked about one of the two compared to what ETH had prior to the fork, but they do present some opportunity for miners. Profit of mining these alone currently is not much different than what you get mining Ethereum Classic (ETC), but if you combine any of them with ZIL for dual-mining you can earn an extra 30-40% more than just by mining any of the coins alone, just like you could do with ETC after the fork. The pool has 1% default commission for miners though if you use the promo code 509cd, you will get an extra 0.10% cashback for two weeks, essentially lowering the initial mining fee of the pool from 1% to 0.9% for some time. So, why not give them a try and try to make a bit more with your mining hardware.

On a side note, due to the higher profitability with dual mining and more people apparently noticing this option it also seems that Etchash profitability on NiceHash has also increased as of late compared to just mining ETC only. Do note however that the fluctuation of profitability on NiceHash can make bigger and sudden swings as compared to dual mining with ZIL that seems to provide a more steady and predictable profit calculation.

Since we have been dual mining ETC and ZIL after the Merge happened on the Ethereum network we’ve seen slight drop ETC in network hashrate after the initial peak, but the price of Ethereum Classic in USD/EUR also dropped a bit. So, all in all, while currently you might be able to mine some more ETC coins their total in fiat may be a bit lower than earlier this month. That is if you are mining and selling for fiat immediately.

To Get Started Dual-mining ETC, ETHW or ETHF and ZIL on the Mining Pool…

With the recent switch of Ethereum (ETH) from Proof of Mining (PoW) to Proof of Staking (PoS) there was a big change in the crypto mining landscape. There was an enormous mining power consisting of a lot of Ethash-based ASIC miners and even more GPUs having to be switched to other crypto currencies and nothing else could handle so much computational power being forwarded to it’s network without significant increase in difficulty and thus a huge drop in profitability. Now, a few days later there is still pretty much nothing that can be stably mined with GPUs at a profit, even covering for the electricity that mining GPUs use with what you mine is still an issue. People are wondering and asking What to Mine, but nothing is really profitable yet, though if you are willing to cover your electricity cost and save what you mine in crypto for now there are a lot of options available.

Ethereum Classic (ETC) is one of the obvious choices when it comes to switching your mining hardware from ETH after the PoW to PoS switch happened, as it is easier and familiar, but profitability wise is it not among the coins that currently bring you the least loss (in term of revenue). There is however something that you can do in order to improve the situation a bit and that is to Dual-Mine ETC and Zilliqa (ZIL), similar to previously doing the same with ETH+ZIL Dual-Mining. Currently the reported extra profit from ZIL is around 30+ extra percent compared to just when mining Ethereum Classic (ETC) on its own, though that value can vary and be even higher at times, so definitely worth checking the Dual-Mining option if you are only mining ETC at the moment. Of course even this way you are probably not going to even fully cover the electricity costs, but 30% more is still 30% more, so you can only gain extra and not loose anything if you are solo mining ETC. The pool has 1% default commission for miners though if you use the promo code 509cd, you will get an extra 0.10% cashback for two weeks, essentially lowering the initial mining fee of the pool from 1% to 0.9% for some time.

To Get Started Dual-mining ETC and ZIL on the Mining Pool…

If you are a crypto miner you should be mining Ethereum (ETH) at the moment with any suitable video card that has more than 4GB video memory, or if you even have a 4GB ones that can still mine it in “Zombie Mode” due to the high profitability. There is a way to increase your profit even further when mining ETH and that is to dual-mine Ethereum and Zilliqa (ZIL). Thanks to Zilliqa’s consensus mechanism, the ecological footprint of mining has considerably been reduced in a way that only 1 minute out of every 1.5 hours is needed to mine ZIL, allowing you to dual-mine other crypto coins such as Ethereum (ETH) or Ethereum Classic (ETC) the rest of the time. Then the ZIL coins you have mine can be staked with about 6%-12% APY, so an extra profit if you plan on holding long term your Zilliqa coins.

Zilliqa is a high-throughput public blockchain platform designed to scale to thousands of transactions per second. It is built to deliver performance, scalability, and security. ZIL is the token that powers the Zilliqa blockchain, a token that can be used for smart contract execution, to reward miners, to cover transaction fees, and more. The company (and platform) has its roots in academic research, it was born at the National University of Singapore and was the brainchild of a team of academics, entrepreneurs, and engineers. With the launch of Zilliqa’s mainnet in January 2019, it became the first public blockchain platform in the world to successfully utilize sharding as a scaling solution. The current price of a single Zilliqa (ZIL) coin is a little over $0.09 USD or roughly 0.000001968 BTC or 0.00005237 ETH according to CoinMarketCap. Currently Zilliqa sits at number 56 in term of coin market capitalization and can soon take its place in the TOP 50 crypto coins based on their market cap.

The mining pool mines Ethereum (ETH) or Ethereum Classic (ETC) and Zilliqa (ZIL) simultaneously. Most of the time the pool is mining ETH or ETC, but just before a ZIL mining round starts, which is every few hours, the pool will automatically switch to ZIL mining for a minute, then it instantly switches back to mining ETH or ETC. From the individual miner’s perspective, no action is required as everything happens automatically in the background, and the reward is credited and paid the same way for both dual-mined crypto coins (ETH+ZIL or ETC+ZIL). The pool does not require a registration, you just need an ETH and ZIL wallet addresses as they are your user IDs for login. An easy way to get ZIL wallet address is to use a supported exchange such as Binance, though we do not generally recommend direct mining of crypto coins to an exchange.

The pool has a minimum payout for Ethereum set at 0.05 ETH and a minimum of 30 ZIL (you can increase them over these values) with daily payouts if the minimums are met. Mining rewards are credited to your pool balance every 30 minutes, so do not worry if you do not see any mined ZIL coins immediately after the mining round finishes. The pool has 1% default commission for miners though if you use the promo code 509cd, you will get an extra 0.10% cashback for two weeks, essentially lowering the initial mining fee of the pool from 1% to 0.9% for some time. You can dual-mine ETH + ZIL on AMD and Nvidia GPUS using a number of miners such as PhoenixMiner, the T-Rex or LolMiner and even should be able to use the More Epochs Мod v1.4 for Claymore Ethereum (ETH) Miner v15.

Example for Dual Mining ETH + ZIL on Pool:
PhoenixMiner.exe -pool stratum1+tcp:// -proto 2 -wal ETH_WALLET.ZIL_WALLET -worker WORKER -stales 0 -log 0

Example for Dual Mining ETC + ZIL on Pool:
PhoenixMiner.exe -pool stratum1+tcp:// -proto 2 -wal ETC_WALLET.ZIL_WALLET -worker WORKER -coin etc -stales 0 -log 0

* Make sure to replace the two WALLET lines with your ETH/ETC and ZIL wallets and also set WORKER to a unique name for each mining rig you point to the pool.

To Get Started Dual-mining ETH and ZIL on the Mining Pool…