Minergate , one of the largest multi-currency mining pools, has recently added the Ethereum mining feature to its mining client.
The main idea behind Minergate is the ease of use and approachability for amateur miners, without any associated drawbacks for professionals. Variable difficulty, a defining feature of the pool, adapts the difficulty to the power of a user’s CPU/GPU, which allows for efficient mining even on some weaker equipment.
Minergate was launched in 2014 by a team of cryptocurrency enthusiasts. It consists of more than 100,000 active users mining a number of cryptocurrencies – Monero, Bytecoin, Bitcoin, and now Ethereum. The ins and outs of Ethereum mining
Solo miners and pools alike have been mining Ethereum since the generation of its Genesis block on 30 July 2015. The ever-growing popularity of the coin has reached an unprecedented height, when it hit $1B market capitalization in March 2016.
It is no wonder that there are many people out there who would like to join in on the profits from the nascent industry: the total hashrate of Ethereum network is estimated to be 2.4TH/s and growing , with most of that amount spread across several major pools .
As it was with Bitcoin, the popularity of the cryptocurrency is creating nigh-impregnable barriers to entry for independent non-professional miners.
Even now, the GeForce GTX 960, one of the most popular GPUs, would have to mine Ethereum for about 5 months before it just breaks even, and the difficulty is only expected to increase.
What that means is that the focus will gradually shift towards mining pools, which allow their members to join resources and thus increase the predictability of the gains, as opposed to relying on luck while mining solo. Making mining accessible for amateur miners It is for that reason that the pool’s GUI miner has been […]
