Ethereum set up mining account

1.

Ethernet mining tutorial

1. Create a new folder on the hard disk, which is better than C: eth. Then all the mining software is stored here

2. Download the following software

1) geth -- select geth win download and unzip

2) ethernet -- download and unzip to the same folder and rename it as "miner"

3) Ethereum wallet -- Download the win Ethereum wallet and unzip it and rename it as "wallet"

install all the software

3 Open the command prompt (click win and R at the same time, or click Start menu and enter CMD). The command prompt is a command line parser that allows you to execute command input software in the operating system

After

, you will have Ethereum wallet. But there is no balance, so next you need to build an ethminer. It's time to minimize your wallet

Mining

2. After logging in to the account, click account settings - add sub account. Create a sub account and set the mining currency Mining account number must be unique and cannot be the same as other mining projects)

3.

Hello, according to my experience, 1. First set up the rack, then fix the graphics card, and then plug the CPU and fan, memory, SSD hard disk into the slot of the motherboard, and connect the power supply and motherboard power supply

I hope my suggestions can help you, thank you

4. At present, defi liquidity mining is the hottest, so you can use Eth and give it to the exchange for investment. It mainly depends on whether the exchange you choose has enough weight. If you choose the mining service of currency, as one of the four major exchanges, I think it is very important. Then the threshold of its procts is low. I think it is the best mining method at present.

5. At present, most of the mainstream Ethereum mining machines in the market come from bitmainland and Jianan Yun. However, with the decline of Ethereum's price, the profits brought by mining have been very meager. Investors can choose to invest in Ethereum on the digital currency exchange. At present, the mainstream digital currency transactions in the market are all coin security, fire coin network, bitnet, etc.

6. The token of Ethereum is proced in the process of mining, with a mining rate of 5 Ethereum coins per piece. The mining process of Ethereum is almost the same as that of bitcoin. For each transaction, miners can use the computer to run the unique title metadata of the block through hash function, and guess the answer repeatedly and quickly until one of them wins

many new users believe that the sole purpose of mining is to generate ether in a way that does not require a central issuer (see our guide "what is ether?"). It's true. The token of Ethereum is proced in the process of mining, with a mining rate of 5 Ethereum coins per piece. But mining is at least as important. Usually, banks are responsible for keeping accurate records of transactions. They make sure that money is not created out of thin air and that users don't cheat and spend money many times. However, blockchain introces a new way to keep records, the whole network instead of intermediary, to verify transactions and add them to the public ledger

Ethereum mining

although "no trust" or "trust minimization" monetary system is the goal, there are still people who need to ensure the security of financial records and ensure that no one cheats. Mining is one of the innovations that makes decentralized records possible. Miners have reached a consensus on the history of transactions in terms of preventing fraud (especially double spending on ether) - an interesting issue that hasn't been addressed before the decentralized currency works on the blockchain. While Ethereum is looking at other ways to reach a consensus on the effectiveness of the deal, mining currently keeps the platform together

how mining works
today, the mining process of Ethereum is almost the same as that of bitcoin. For each transaction, the miner can use the computer to guess the answer repeatedly and quickly until one of them wins. More specifically, the miner will run the unique header metadata (including time stamp and software version) of the block through the hash function (which will return a fixed length, unordered string of numbers and letters, which appears to be random), changing only the 'nonce value', which will affect the hash value of the result

if the miner finds a hash that matches the current target, the miner will be granted ether and broadcast the block across the network for each node to verify and add to their own ledger . If miner B finds the hash, miner a stops working on the current block and repeats the process for the next block. It's hard for miners to cheat in this game. There is no way to fake the work and come up with the right answer to the puzzle. That's why solving puzzles is called "proof of work."

on the other hand, others have little time to verify whether the hash value is correct, which is exactly what each node does. About every 12-15 seconds, a miner finds a stone. If the miner starts to solve the puzzle faster or slower than this, the algorithm will automatically re adjust the difficulty of the problem so that the miner can rebound to about 12 seconds of solution time

miners earn these ethers randomly, and their profitability depends on their luck and the computing power they put in. The specific workload verification algorithm used by Ethereum is called "ethash", which aims to require more memory, making it difficult to mine with expensive ASIC. Special mining chips are now the only profitable way to mine bitcoin

in a sense, ethash may have achieved this goal successfully, because dedicated ASIC is not available for Ethereum (at least not yet). In addition, as Ethereum aims to shift from proof of work mining to "proof of equity" (which we will discuss below), buying ASIC may not be a wise choice because it may not prove useful for a long time< However, Ethereum may never need miners. Developers plan to abandon proof of work, the algorithm currently used by the network to determine which transactions are valid and protect them from tampering to support proof of equity, which is guaranteed by token owners. If and when the algorithm is launched, proof of equity can become a means to achieve distributed consensus, and the consensus uses less resources.

7. The core component is the graphics card, which accounts for about 80% of the cost, followed by the motherboard and power supply, with high configuration. If you're digging deep in the mountains with a large mining machine. If personal computers are not enough for electricity, you can also choose crowdfunding mining machine... And now mining is generally in the place where electricity is cheaper, and the money is usually directly linked to the platform (currency exchange trading platform). Personal suggestions should be considered. After all, electricity is not enough.

8. With the upgrading of Ethereum to version 2.0 this year, the consensus mechanism will be converted to POS, which will have a huge impact on miners. There are two choices for miners. One is to sell mining equipment and buy eth to adapt to the stacking mechanism of POS; The second is to switch the miner to other networks supporting GPU miner. Nick foster, a representative of kabombacks, a US mining equipment distributor, said most eth miners would choose the latter

after Ethereum is upgraded to version 2.0 POS mechanism, miners may switch mining machines to other networks
as Ethereum is finally ready to start its Ethereum 2.0 upgrade later this year, thus eliminating the long-term delay, the network will start to move towards the proof of rights model

therefore, the network will give up the workload proof consensus algorithm, so that eth miners have little choice. As their equipment will become obsolete, they will be forced to start mining counterfeit coins or re qualify as eth mortgagors. So, what is the current situation of Ethereum mining? With the coming transition, what will happen to the whole instry< At present, Ethereum consensus is based on POW system, which is similar to bitcoin (BTC). As a result, Ethereum's mining process is almost the same, as miners use their computing resources to earn rewards for each block they try to complete< However, there are still major differences between these processes. Although bitcoin mining has relied almost entirely on ASIC (large, loud machines designed specifically for cryptocurrency mining, most of which are concentrated in areas with low electricity prices), Ethereum's pow hash algorithm ethash is designed to support global chip manufacturers (such as NVIDIA and AMD). As Thomas Heller, global business director of cryptocurrency mining pool f2pool, explained in a conversation with cointegraph, GPU is much cheaper and easier to access than ASIC

"as ASIC is a very professional machine, when a new generation of procts is released, it is usually a huge technological leap. As a result, they have a much higher hash rate and are more energy efficient than the previous generation. This means that those manufacturers have spent a lot of money to research and develop it. Their machines are usually very expensive, and GPUs are much cheaper. "

Heller added that those who use GPU miners "have more flexibility to mine." For example, the popular NVIDIA geforce GTX 1080 Ti card can mine more than 15 different currencies, while ASIC units usually support only one currency

nevertheless, Ethereum is not completely immune to ASIC miners - at least in its current state. In April 2018, bitcontinent released antminer E3, an ASIC specially proced for mining Ethereum. Although widely praised for its hash rate of 180 megahashes per second and power consumption of 800 watts, it has received different responses from the Ethereum community. After the ASIC is inserted, a considerable number of GPU rig owners seem to suffer from loss of profits, and some are even forced to switch to other networks

"in the white paper, ETH must have ASIC resistance. I would like to say that the white paper stands for something "is one of the highest comments on the AR / ethermining topic about the topic discussed when antminer E3 was announced. Another reddit user argued that "the $800 only applies to 180mh."“ Split or die of a nation. "

some Ethereum users continue to suggest that bitmain's mining devices can lead to greater concentration, thus increasing the possibility of attack by 51%. Soon, a group of developers put forward "programmed workload proof" or progpow, which is an extension of the current Ethereum algorithm ethash, aiming to make GPU more competitive and promote decentralization

according to a paper published in March by Kristy Leigh Minehan, co-founder of progpow, about 40% of the hash rate of Ethereum is generated by bitmain ASIC. Alejandro de la Torre, the vice president of poolin, is the sixth largest pool of eth. He confirmed to cointegration that "GPU mining is still dominant" in Ethereum network, and added:

"at present, the profit of eth mining is not high, and the management threshold and cost of GPU equipment are higher than ASIC equipment. Compared with ASIC devices, GPU devices are more flexible, and you can use other algorithms to switch to other coins. "

progpow has not been integrated into Ethereum, and it is not clear when it will be finally implemented - in March, Ethereum core developers were debating whether progpow will really benefit the network in nearly two hours, and failed to reach a consensus. It is worth noting that a bitmain representative has previously told cointegraph that the mining hardware giant does not intend to extend the service life of antminer E3 to start operation after October 2020: "as far as we know, mining will end in October or some time after that."

a safe but uncertain future

indeed, Ethereum will stay away from mining in the future. Ethereum 2.0, which is planned to be launched later in 2020, is a major network upgrade on the blockchain, aiming to transfer its current POW consensus algorithm to a virtual POS (known as "block verifier")

more specifically, users are randomly selected considering their wealth in the network or their "interests". In other words, the more coins a POS verifier chooses to put in, the more coins accumulated as a reward

according to vitalik buterin, the co-founder of Ethereum, e to the transition, the network will be more secure and the attack cost will be higher than the network of bitcoin, although the debate about the better consensus algorithm in the encryption community has lasted for many years. However, it is not clear when to start Ethereum 2.0, as many errors and management issues are reported to be delaying the process

another hypothetical benefit of POS system is that it has higher energy efficiency than pow blockchain. According to digiconomist, the cryptocurrency's total annual footprint is 59.31 terawatts per hour, which is comparable to the electricity consumption of Greece as a whole. However, since a report in July 2019 estimated that 74% of the exploitation of bitcoin was done using renewable energy, the environmental impact of bitcoin does not seem to be so serious

what will happen to the actual Ethereum miner? According to the documentation of Casper upgrade as part of Ethereum 2.0 roadmap, the network will initially support a hybrid model including both POW and POS, thus providing some space for block verifiers and GPU / ASIC miners. Jack O & 39, CEO of skale network; "There will definitely be a transition period when two networks are running at the same time," Holleran told cointegration The CEO of scale network (based on Ethereum's blockchain platform) gave a detailed description of this process:

"the transition from eth1 to eth2 takes time of course - it may be years rather than months. The good news about this slow transition is that dapps and defi platforms will be able to roam around based on survivability, security and real-world evidence of adoption. This is a positive impact on the Ethereum ecosystem. "

dig or not

once Ethereum is fully in the POS orbit, miners will have two options. One is to sell the equipment and use the money to accumulate more Eth and start mortgage. The other is the choice for GPU miners, which is simply switching to other ethash networks and mining counterfeit money. Nick foster, a representative of kabombacks, a US mining equipment dealer, told cointegration that most eth miners would choose the latter:

"what I want to say is that most of the miners have not really entered Ethereum or the mining of specific tokens. Yes, there is a certain amount of mineral deposits and holds, but I oppose the view that a large number of Shanzhai coin miners hold their coins at any time. "<

foster then described how he used 3gb GPU units to mine ethash's point-to-point blockchain asset ravencoin (RVN). Once it was unable to mine eth, he said, "this is the reason for mining crows. I immediately sold stability to BTC, and then sold it to US dollars to pay for my rights. I would say that a lot of people are adopting this strategy. "

as foster concludes, he wants eth miners to jump out of the network, and new players - those who don't invest in power infrastructure or drilling rigs - will take a stake in eth. He described the following:

"I can't imagine if I found a five-year lease with $0.04 of electricity and I was mining eth, I decided to sell everything and then continue to pay the rent so that I could hold eth as a share. Substitute. "

Marc fresa, founder of asic.to, a mining firmware company, agreed in a conversation with cointegraph: "if you invest in mining, you won't bet because you have enough room to grow."

one of the main counterfeit coins that may benefit from POW miners leaving Ethereum is Ethereum classic (etc), which is a more conservative version of the blockchain. It is reported that there is no POS related plan. As it also runs on the ethash algorithm, the startup of Ethereum 2.0 may lead to the migration of miners, so its hash rate may have a significant peak

eth's larger pools have similar options. When asked about the company's plans for Ethereum after pow, Heller told cointegraph that after the announcement of Ethereum's POS upgrade, f2pool launched a sister company called story.fish in early 2018. Story.fish has started to provide mortgage services for other POS and delegated POS projects, such as tezos (xtz), Cosmos (atom) and Cardano (ADA), e to numerous handover delays. For prin, e to the transition to POS, it "may temporarily give up supporting eth mining," de la Torre told cointegraph

other top eth pools, namely nanopool, ethermine, pool center, sparkpool and spiderpool, did not respond to requests for comment from cointegraph.

9. In short, this is the function of the central bank
new currencies are usually solved through open market operations. In other words, the central bank makes its own money flow out by buying Treasury bonds (issued by the Ministry of Finance), so that the money flows to commercial banks, and commercial banks make money circulate in the society through lending
first of all, understand currency: today's commonly referred to as currency is the paper money in our pocket. It is a medium and tool to facilitate the exchange and circulation of goods under the commodity economy. It has no value in itself and is issued and forced to circulate by the national bank. When you go shopping in China with us dollars, the shop owner will treat us dollars as a piece of waste paper, because US dollars must be converted into RMB through the central bank to be used in China
currencies of different countries cannot be circulated in different countries. Now, with the global economic integration, there are certain economic exchanges between countries. In order to solve the trade and currency problems between different countries, two concepts of foreign exchange and foreign exchange reserve are involved
as we all know, a country's wealth is not measured by the amount of its currency issued or owned, but by the amount of its commodities, which are the material needs of people's life, rather than money, that is, a country's proction capacity and gross domestic proct
trade between countries can be divided into export and import as follows:
in the case of export, if US dollar is used as foreign currency, that is to say, Chinese multinational enterprises sell their procts in the United States in exchange for the currency of other countries. For Chinese people, foreign currency is not allowed to circulate in the Chinese market, Therefore, in the Chinese market, foreign currency is equivalent to a pile of waste paper. Therefore, it is useless for Chinese export enterprises to sell foreign currency to the national bank to exchange it for RMB, and the state holds foreign currency. People's wealth is ultimately reflected in their material enjoyment, and money is only an intermediary and tool for material exchange, Our domestic enterprises give the goods they proce to the United States, while the United States only gives us foreign currency (bonds), thus forming a debt relationship: that is, China is the creditor, foreign countries (the United States) are the debtor, and foreign exchange (US dollars) is the debt relationship certificate

for the import situation, foreign currency reserves will not be affected. For example, if foreign businessmen sell foreign goods at home to earn RMB, the central bank will take the foreign exchange reserves (US dollars) to buy back RMB from foreign investors (because this part of RMB is circulating at home and is not counted as foreign exchange reserves), It may also be that foreign businessmen take RMB to their own country to exchange for their own currency, which also forms their own foreign exchange reserves (whether the actual process is like the above, I don't know, it's not studying economy, it's just speculation). Buy back is actually a hedging process (the real sense of hedging seems to be that the central bank takes foreign exchange to buy overseas). It can also be understood as follows: foreign goods are regarded as the goods proced by the central bank and sold in the domestic market. In this way, part of the foreign exchange reserve is returned to the people through the central bank, and the debt is also paid

generally, the amount of money in circulation of a country corresponds to the amount of goods proced by the country Material wealth corresponds to the amount of money)
Chinese enterprises export goods, which can be seen as: China proces too many domestic goods (that is, the corresponding currency is not enough),
domestic enterprises get foreign markets for commodity sales and exchange through the form of export, and can exchange domestic goods for foreign goods, but because of the existence of foreign currency, In fact, these foreign currencies are equivalent to the debts of foreign consumers to China's export enterprises, and these debts are uniformly assigned to the name of the national bank. This has become the country's foreign exchange reserves. The more foreign exchange reserves, the more money the state will lend. Lending is equivalent to issuing money. If a country releases too much money, it needs to issue a large amount of money, which may cause inflation (there are not enough goods, but a lot of currency in circulation). At this time, the country purchases goods from overseas through the international market, and consumes foreign goods in exchange for goods, so as to achieve the goal of stabilizing and balancing the economy. It can also be understood from another perspective that the central bank releases a large amount of money to exchange for foreign exchange reserves. The increase of this kind of money is not caused by the "invisible hand" of the market rules, but by the Central Bank of the government. If we zoom in, the increase of money will actually be inflation, and the money on the hands of the people will be devalued, The devalued part is occupied by the central bank free of charge. Therefore, it can be understood as: foreign exchange reserves are liabilities of the central bank, not assets, because it is exchanged by the central bank from the people's hands with RMB, then the people will want to cash this asset one day
as China's foreign exchange currency is mainly US dollar, once the US economy fluctuates and leads to the depreciation of US dollar, China's foreign exchange reserves will have the risk of devaluation. The devaluation of foreign exchange reserves is also the loss of China's assets< In a word, foreign exchange reserve is a kind of debt relationship between the people and other countries (reserves are not national assets, but the money of the working people), and the people, as one of the creditor's rights, transfer the creditor's rights to the National Central Bank and hang them in the name of the central bank

foreign exchange reserve refers to the foreign convertible currency held by a country's monetary authority and can be used for external payment, which acts as an international reserve asset. The amount of foreign exchange reserve mainly depends on the status of import and export, the scale of foreign debt and the actual use of foreign capital. Foreign exchange reserves are used for trade with other countries
in order to increase foreign exchange, we need to issue RMB to buy, and the supply of RMB will increase, which may cause monetary expansion in the domestic market. A certain amount of foreign exchange reserve is an important means for a country to adjust its economy and realize the economic balance at home and abroad. When there is a deficit in the balance of payments (more imports, the domestic market full of foreign goods, causing domestic monetary tightening), the use of foreign exchange reserves can promote the balance of payments; When the domestic macro-economy is unbalanced and the total demand is greater than the total supply (the consumption demand increases and the goods are not enough), we can use foreign exchange to organize imports, so as to adjust the relationship between the total supply and the total demand and promote the macro-economy balance
at the same time, when the exchange rate fluctuates, we can use the foreign exchange reserves to intervene the exchange rate and make it stable
the performance of foreign exchange reserves is to hold a kind of financial claims expressed in foreign currency, not put into domestic proction. This leads to the problem of opportunity cost, that is, if the monetary authorities do not hold reserves, they can use these reserve assets to import goods and services, increase the real resources of proction, and thus increase employment and national income, while holding reserves gives up such benefits
the increase of foreign exchange reserves should expand the money supply. If the foreign exchange reserves are too large, it will increase the pressure of inflation and increase the difficulty of monetary policy
holding too much foreign exchange reserves may also cause losses e to the depreciation of foreign exchange rate
because foreign currency can not circulate in the domestic market, the central bank not only releases a certain amount of money (through export and foreign capital) in China, but also reserves a certain amount of foreign exchange on behalf of the country. At this time, RMB is used in China, while foreign exchange itself is independent of the domestic economic operation, and is used by the central bank to maintain and increase value in the international financial market.

10. As a result, the heat output of the chip becomes larger and larger, so the problem of heat dissipation is becoming more and more prominent

if the quality of the cooling fan of the graphics card is not ideal, the fan needs to be replaced. When buying a new video card fan, it's best to take the video card with you and buy a suitable video card fan

most fans are fixed with spring buckles or screws, so we can easily remove them with a screwdriver and tweezers, and unplug the power connector. When replacing, clean the original thermal conctive silicone grease on the chip,