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If you’re contemplating trying your hand at mining Ethereum PoW fork, your timing is unlucky. The Ethereum blockchain simply underwent a serious transformation that changed the character of how Ethereum is created and validated, and in consequence, it’s no longer doable to mine Ethereum. But that doesn’t imply you’ve lost your opportunity to revenue by servicing this quickly expanding blockchain network.

ViaBTC supports the mining of 11 different cryptos, including Bitcoin, Bitcoin Money, Litecoin, and Ethereum Classic. You’ll be able to mine with ASICs, GPUs, and CPUs with ViaBTC, or you’ll be able to attempt the platform’s cloud mining service if you don’t want to purchase hardware. The platform also gives a customer support web page in your points or issues.

So what Ethereum presents is a “smart contract platform” which takes lots of that expensive, difficult stuff and automates it. It’s early days but, so we can’t do all the pieces, but we are seeing a stunning amount of capability even from the first model of the world’s first usually out there sensible contract platform.

Mining algorithm. Despite Ethereum and Bitcoin using the PoW consensus mechanism, they don’t use similar hashing algorithms. Bitcoin uses the SHA-256 encryption algorithm, while Ethereum uses Ethash.

Bitcoin’s SHA-256 allows for the usage of highly specialized gear known as ASICs (Application Specific Integrated Circuit chips). Ethereum, alternatively, might be mined utilizing GPUs (Graphical Processing Models). ASICs are way more powerful and expensive compared to GPUs.