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Ethereum is not yet another Bitcoin clone though, since it has an additional feature called Smart Contracts that makes it unique and very promising. I am not going into details how Ethereum works, you can get that into great detail on the Internet. This post is about Ethereum mining. Mining is how crypto coins are created.
You need to spent computing time to get coins out. At the beginning CPU mining was sufficient, but as the Ethereum network difficulty has increased you need to use GPUs as they can calculate at a much higher hashrate than a general purpose CPU can do. As it turns out modern graphics cards are very good at hashing so I gave it a spin. Initially I did this mining setup with Windows 10, as that is the operating system on my gaming rig.
The hashrate multiplied by 4 by using Linux instead of Windows.
Keep reading and follow this guide. You have to pick a Linux distro to use for mining.
As I am a Debian developer, all my systems run Debian, which is what I am also using for this guide. The same procedure can be done for Ubuntu as it is similar enough.
For other distros you have to substitute the steps yourself. So I assume you already have Debian 8 or Ubuntu 16. Install Ethereum Software First we need the geth tool which is the main Ethereum "client". Ethereum is really a peer-to-peer network, that means each node is a server and client at the same time.
A node that contains the complete blockchain history in a database is called a full node. We still need geth to create the private key of your Ethereum wallet. Somewhere we have to receive the coins we are mining Add the Ethereum APT repository using these commands: They are not really stored in the wallet because the wallet is just a private key that nobody has.
The balance of that wallet is visible to everyone using the blockchain database. And this is what full nodes do, they contain and distribute the database to all other peers. So this this command to create your first private key for your wallet: Anyone who has access to that file and knows your passphrase will have full control over your coins. And also do not forget the passphrase, as if you do, you lost all your coins! This is your wallet address and you should write that number down, as if someone wants to send you money, then it is to that address.
We will use that for the mining pool later. If you have an older card maybe the opensource drivers will work for you.
For the GTX 9xx or 10xx you will need this driver package. But before we can use that installer we need to install some dependencies that installer needs as it will have to compile a Linux kernel module for you. Install the dependencies using this command: The first time you run it it will create a DAG file and that will takes a while.
For me it took about 12 minutes on my GTX 1070. After that is should show a inner mean hashrate. Pick Ethereum Network Now it gets serious, you need to decide 2 things. First which Ethereum network you want to mine for and the second is using which pool. Ethereum has 2 networks, one is called Ethereum One or Core, while the other is called Ethereum Classic. Ethereum has made a hardfork to undo the consequences of a software bug in the DAO. The DAO is a smart contract for a decentralized organization.
Because of that bug, a blackhat could use that bug to obtain money from that DAO. The Ethereum developers made a poll and decided that the consequences will be undone. The hardfork kept its short name ETH.
Differently said, ETC mining is currently more profitable. Pick a Pool Hmmmm, I want a swimming pool, thanks! You can mine without a pool, that is called solo mining, but you will get less reward. A mining pool are multiple computers that work on the same block to find a solution quicker than others.
The pool has an aggregated hashrate that is higher than other solo miners. Each found block by anyone in this pool will be rewarded to everyone in the pool. The reward of 5 ether currently per block gets split in the same ratio of hashrate each member provides minus the pool fee. So while you get less for a found block, you still have a steady lower income rate instead of higher with less chance of finding one in time. Run ethminer The instruction page of the pool website usually says how to start the miner program, but here is an example of the pool that I use because pony!
Last edited Thu Nov 16 01: