How to mine ETC
In this post I will briefly describe ETC blockchain, and will provide mining tips for those who want to participate.
What is Ethereum Classic?
in 2015, there was only one Ethereum blockchain.
After the hack, there were different visions on which way to continue the development.
There was a proposal to roll-back the blockchain history, returning this way back the stolen DAO tokens.
This proposal splitted the Ethereum community.
After many debates and negotiations, the blockchain was forked in two.
Ethereum ETH blockchain release a hard-fork to compensate the DAO holders.
Ethereum ETC community takes "restoried money are not money" approach, and keep moving ahead.
On 11 December 2017, the total supply of Ether (ETC) on Ethereum Classic was hard capped at 210,700,000 ETC via the Gotham hard fork. The ETC emission is reduced by 20% every 5,000,000 blocks. The current block reward of 2.56 ETC, will be reduced to 2.048 ETC at the middle of 2024.
ETC emission schedule
|Date||5M20 Era||Block||Block Reward||Total Era Emission|
|2015-07-30||Era 1||1||5 ETC||25,000,000 ETC|
|2017-12-11||Era 2||5,000,001||4 ETC||20,000,000 ETC|
|2020-03-17||Era 3||10,000,001||3.2 ETC||16,000,000 ETC|
|2022-04-15||Era 4||15,000,001||2.56 ETC||12,800,000 ETC|
|2024-05-07||Era 5||20,000,001||2.048 ETC||10,240,000 ETC|
ETC is using a Etchash algorithm, which is almost the same as Ethash. The only difference is that Etchash, added enchancement, which enables the mining with smaller (4GB memory) graphic cards. This way more miners can participate.
If you do not have an Ethereum Wallet, you should obtain one. There are many ways and applications that can be used for this. Visit ETC Pool Page to see the list with apps, you can use. It is possible also to mine directly into exchange wallet. Just be aware that the exchange address, actually belongs to the exchange.
Mining is most popular with video cards, but is also possible with ASIC hardware. The difference in performance is not so big as it is in Bitcoin mining.
At the moment this post is written, ETC can be mined with quite big number of applications.
This list represents some of them, without pretending to be complete. Make your own research to find the best software, that fits to you.
|PhoenixMiner||closed source||0.65%||NVIDIA, AMD||Windows/Linix||PhoenixMiner|
|Gminer||closed source||1.0%||NVIDIA, AMD||Windows/Linix||gMiner|
|lolMiner||closed source||0.7%||NVIDIA, AMD||Windows/Linix||lolMiner|
|Nanominer||closed source||1.0%||NVIDIA, AMD||Windows/Linix||Nanominer|
|NBMiner||closed source||1.0%||NVIDIA, AMD||Windows/Linix||NBMiner|
To start mining
If your Windows suggest that the miners are "potentially unwanted" software, you may need to select "Allow on device" option in Windows Security settings.
Find the nearest server to your geographical area, and ping it. If the ping is done for less than 100ms, you can consider this server for mining.
$ ping nushypool.com
Run the miner. The command line depends from you miner, and your OS. For example to start mining with NBMiner, the run command is:
$ ./nbminer -a etchash -o stratum+tcp://nushypool.com:40000 -u [address].[workername]
You can quickly configure your command in our ETC Pool Page and tap "Start Mining" button.
Yours Max Mustermann