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Posts Tagged ‘Ethereum Classic mining’
Now you have more options to increase your mining profit by dual mining not only Ethereum Classic (ETC) and Zilliqa (ZIL) on the Ezil.me 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 Ezil.me Mining Pool…
- Published in: Crypto Coins
- Related tags: dual mining, ETC dual-mining, ETC mining, ETC mining pool, ETC ZIL mining, Ethereum Classic, Ethereum Classic mining, Ethereum dual-mining, Ethereum mining, Ethereum mining pool, EthereumFair, EthereumFair dual mining, EthereumPoW, EthereumPoW dual mining, ETHF, ETHF dual mining, ETHW, ETHW dual mining, Ezil.me, How to dual-mine ZIL, How to dual-mine Zilliqa, How to mine ZIL, How to mine Zilliqa, ZIL, ZIL dual-mining, ZIL mining pool, Zilliqa, ZIlliqa dual-mining, Zilliqa 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 Ezil.me Mining Pool…
- Published in: Crypto Coins
- Related tags: dual mining, ETC dual-mining, ETC mining, ETC mining pool, ETC ZIL mining, Ethereum Classic, Ethereum Classic mining, Ethereum dual-mining, Ethereum mining, Ethereum mining pool, Ezil.me, How to dual-mine ZIL, How to dual-mine Zilliqa, How to mine ZIL, How to mine Zilliqa, ZIL, ZIL dual-mining, ZIL mining pool, Zilliqa, ZIlliqa dual-mining, Zilliqa mining pool
Ehereum (ETH) has successfully hard forked a few days ago and moved on a new chain, however this also brought to life Ethereum Classic (ETC) that continue to run on the old blockchain without any modifications that were made by the forking Ehereum (ETH). Initially the support for Ethereum Classic was a bit questionable, but after Poloniex – the current largest Ethereum (ETH) exchange added a market for trading ETC as well things started turning. There are already a few exchanges trading ETC with more probably soon to follow, multiple services such as block explorers and quite a few mining pools already available. The current value of 1 ETC is about 1/20th that of 1 ETH, but the daily volume traded on Poloniex shows that the Ethereum Classic has almost half the volume of Ethereum.
The most important question that people probably have at the moment is how they can get a hold of their ETC coins based on the ETH they are holding. There are some good and some bad news here, if you were running a local wallet then the ETH coins you had in it prior the hard fork will also give you the ability to have the same amount of ETC coins. What you will have to do is to run a copy of the blockchain prior the hard fork at block 1920000 and run a pre-hardfork client such as geth earlier than version 1.4.10. Of course for the ETH coins you would still need to run the original blockchain with a client supporting the hardfork (make sure you use different directories for storing the two chains). If you had all of your ETH coins in an exchange or an online wallet, then you might be out of luck unless that wallet or exchange provides support for ETC as well. In the case of Poloniex any ETH that you help in the exchange resulted in you getting the same amount of ETC, however still only a few exchanges do provide support for ETC.
At this point it is quite hard to say what is the actual amount of ETC coins that can be operated by their owners and unfortunately there is the chance that some exchanges that do not officially add support for ETC can still get a hold of the ETC coins that were available as ETH balances prior to the hard fork. So at the moment it is still hard to predict what exactly will happen with Ethereum Classic, all we can say is that we are seeing peak in user interest and support, but will that be enough to establish ETC as a long term alternative to ETH or not is still hard to say. So you might want to keep an eye out for ETC and if you can get a hold of your Ethereum Classic coins you should do so just in case. As for those of you that may decide to mine ETC (it is on a separate chain after the hard fork) you should know that there is still a quite a bit of risk involved and ETC future is still a bit uncertain. We are going to be keeping a track of how things with Ethereum Classic progress further on and keep you updated on how the situation evolves.
– For more information about the Ethereum Classic (ETC) alternative visit the official website…