Etereum Classic Mining – BTC Threads

Of& nbspPrashant Jha

Ethereum Classic (ETC) is the original Ethereum blockchain combined with a hard fork gone wrong. The problem dates back to June 2015, when the Ethereum community decided to implement a fork on the existing network. However, things went haywire when one of the protocols to avoid double spending, DAO was exploited by a hacker and the ETH value of millions was subtracted from the network.

Many developers have disapproved of the Fork and have continued to work on the existing Ethereum blockchain network now known as Ethereum Classic.

Ethereum Classic is considered one of the easiest to use digital tokens. In this article, we will cover the data mining part extensively, where you can learn how to extract the Ethereum classic, the required hardware mining machines, and configure the software to get the best returns. So let's dive deep and see what it takes to become an Ethereum Classic miner.

Ethereum Classic Mineable?

The short answer is Yes and easier to use when compared to the original version of Ethereum because the hash power requirements are relatively lower. Now, speaking of the technical aspect, Ethereum's blockchain uses Proof of Work (PoW) to verify its transaction, and therefore mining activity becomes an essential part of the validity of the transaction.

Since the level of mining difficulties is relatively lower, people with GPU drilling rigs can also benefit from the extraction of Ethereum Classic. If we talk about mining profitability, that is, the energy consumption of the mining platforms and the initial cost of installation compared to the value of the extracted digital token, it is a win-win situation. The image above from whattomine gives a clear clarity on the topic under discussion. We can clearly see that the hash power required for ETC mining is half that of Ethereum.

You can also read: proof of work

The setup of a Mining Rig

In a peer-to-peer network where there is no centralized authority that verifies the validity of a transaction, mining plays a very important role. Mining consists essentially in stamping a transaction with authenticity. Now mining is not a normal verification process, it is a complex mathematical equation that works on a particular algorithm, Etash's mining algorithm in the case of ETCs. To solve these complex equations, specific hardware and a set of software and a portfolio capable of containing the digital resource are required. Let's have a look at the specifications and requirements.

To start with, you will need a portfolio that supports ETC holdings, so make sure you do not confuse between Ethereum Classic (ETH) and Ethereum (ETH). Once the portfolio is decided, the next decision is which hardware to use. Currently, Nvidia graphics cards like 1080 and 1080i are in great demand and do their job. In addition to the GPU requirements, you will also need at least 4GB of RAM, whether it's built-in RAM or a dedicated video.

The next important choice comes for software selection, Claymore Dual Ethereum min is currently one of the best choices for both Nvidia hardware users and AMD GPU users. The software also supports two windows OS and Linux. In addition to Claymore Dual Ethereum, people also make use of Ethminer which is supported by both Nvidia and AMD GPUs.

Once you've decided on your hardware and software and want to scale the mining level, you can connect a maximum of 6 GPUs to your rig for better and faster operations.

You can also read: confirm transaction

Going Solo vs. Pool Mining

Once your mining rig is complete with the necessary hardware and software installation, you will begin to extract your classic Ethereum. However, there is a final decision to make if you want to go to a solitary mine or enter a pool of miners. The mining pool charges 1% on the earned digital token, but the positive side is that you can combine or share hash power with other people in the pool, so the cost of power consumption drops significantly.

We take the Nanopool as an example to understand how mining pool works and people can use it to generate maximum profit. Nanopool took a "walk in the park" to join a mining pool and start operations. All you need to do is go to the main website and click on their quick start app. The app will introduce you to the initial configuration procedure and to quickly set up the software according to your needs.

You need to make some selections with the Quick Setup app, first select the GPU choice between AMD and Nvidia. Depending on your choice, you will be redirected to the respective software configuration website. You have to download the Zip file and extract it to your computer and install the software. The software will perform several parameter checks to check if the system is compatible with the software and if everything is OK, the installation will start to start the shares.

You can also read: Difficulty in mines

Final thoughts

Ethereum Classic is the perfect choice for new miners and those looking for a big profit. The difficulty level of mining is quite low compared to any other mainstream token and the power of the hash is half that of ETH. If you use the mining pool, the combined power hash makes the cost of energy consumption significantly low. The initial configuration is very simple and you can configure the entire system within 20 minutes by following the right instructions even if someone is doing it for the first time.

Looking at the current cost of Ethereum Classic, a good gaming computer can turn into a profitable drilling rig with the right set of software. So yes, it is easy enough to install and extract Ethereum Classic.

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Prashant Jha

As a content writer, Prashant believes in presenting complex topics in simple terms such as laity. He is passionate about technology and an avid reader.