building the MetaFi ecosystem to bridge the gap between CeFi and DeFi
building the MetaFi ecosystem to bridge the gap between CeFi and DeFi
10 January 2022, 11:01
2 min reading
Ethereum is the second-largest cryptocurrency by market capitalization, only second to Bitcoin. Since entire decentralized ecosystems and applications can be built on top of its blockchain, Ethereum has rapidly increased in popularity among holders. With this in mind, it’s only natural to wonder how you can mine Ethereum and what is the best software to do it.
If you already have Ethereum mining hardware and a valid wallet, the only thing left to do is find the best ETH mining software that will help you efficiently manage your mining efforts.
In this article, we will look at features, benefits, and compatible operating systems. But before we get there… Let’s touch on the basics.
Mining Ethereum is a great alternative way to profit from one of the top cryptocurrencies. And since the number of blockchain projects relying on the Ethereum network to build their ecosystems is only increasing, we can only expect its price to skyrocket.
That said, perhaps the most important reason you should get into mining Ethereum as an investor is to keep the cryptocurrency decentralized and secure from outside attacks through a process called Proof of Work (PoW).
Unlike conventional currencies, Ether operates on a public ledger system, which makes its mining the backbone of the Ethereum network. When miners receive transaction data sent by other members of the network, they assemble them into structures known as Merkle trees, then work to find an acceptable hash.
Every data set will only return one hash, and the hash can’t be used to recreate the original data. Its purpose is to efficiently ensure that the block information hasn’t been tampered with. And if someone changes even a single number in the arbitrarily long string of transactions, then the hash will come out unnoticeably different, which will notify the network that someone just tried to insert a bogus transaction somewhere into the ledger.
As you can see, without Ethereum Mining, the network would start malfunctioning right away. Not surprisingly, miners get paid for their valuable work.
To put it simply, mining software is a program that uses your computer’s graphics cards (GPU) as resources to solve complex mathematical equations. Once the equations are solved, the data is added to the rest of the blockchain.
The mining software will monitor the input and output of your hardware while at the same time show you statistics like the tempo of your miner, fan speed, temperature, and hash rate.
The Ethereum mining software options we cover in this article will connect you to one of many available Ethereum mining pools.
Ethereum mining pools are areas of resources distributed and shared equally between miners. They became a thing when mining currencies as an individual turned so hard that it was impossible to gain a block for rogue miners.
Today, one of the most famous Ethereum mining pools choices is Ethermine. This pool allows its users to remain anonymous while requiring a small 1 percent mining fee.
Just like with all famous, valuable cryptocurrencies, there is a long list of the software options to pick from. And without putting them all to the test, there is no surefire way to separate the best from the rest.
Lucky for you, we took it upon ourselves to scour the internet and analyze hundreds of users’ reviews to present to you the absolute best Ethereum Mining Software options you should avail this year.
As you can tell from its name, ETHminer is a mining software specifically designed to mine Ethereum, and it currently supports Linux, Mac, and Windows. Make sure you download the one that corresponds with your device’s operating system.
Besides Ethereum, you can also use ETHminer to mine all coins based on the Ethash algorithm, including Expanse, Ellaism, Metaverse, Musicoin, Pirl, Ethereum Classic, and others.
ETHminer is a command-line software. This implies that you either launch it from a Linux console or Windows’ command prompt, or you can create shortcuts to preset command lines using Windows cmd/batch file or Linux Bash script.
Released in 2011, this program is still one of the most popular mining software options available today, thanks to its compatibility with three different mining hardware: ASIC, FPGA, and GPU. CG miner is an open-source Ethereum miner written in C and comes with support and binaries for OpenWrt routers, RPi, and more.
Other benefits you’ll enjoy from CGMiner include the ability to scale to a hash rate of your choice with zero delay, remote interface capabilities, and advanced detection of new blocks. The software is available for Mac, Linux, and Windows.
The Bitminter software offers its users an exceptionally clear graphical interface as well as a fast connection to the Bitminter mining pool. Introduced in 2011, the Bitminter mining pool is among the longest-running mining pools in the realm of cryptocurrency with more than 450,000 registered user accounts.
Better yet, unlike CGMiner, BitMinter doesn’t require installation to function since it’s based on the Java Network Launch Protocol (JNLP). You can run it on mining hardware like ASIC, FPGA, and GPU, and is also compatible with Mac, Linux, and Windows.
If you’re looking for the most efficient Ethereum mining software, consider Claymore’s dual Ethereum miner, which allows you to scale to any hash rate without affecting the mining speed.
Claymore also recently released a V12.0 upgrade that reduced the devfee for dual mining mode to 1 percent from 2 percent. The upgrade also offers 3GB and 2GB cards with a zero devfee. That said, Claymore dual miner doesn’t run on Mac and currently only runs under Linux and Windows. But it supports both Nvidia and AMD cards.
Other coins you can mine using the program include Siacoin, Lbry, Decred, and Pascal.
If you’re new to the world of crypto mining and are looking for the easiest and simplest Ethereum mining software, check out WinETH.
This software is based on the ETHminer we just reviewed, but WinETH offers its users a simpler and easier to understand GUI coupled with a “smart” algorithm that will provide configurations that ensure optimal performance on new users’ hardware.
As you can tell from its name, WinETH is only compatible with Windows devices and you can find it on the Windows 10 app store.
Minergate software was the first mining software to offer merged mining, which means mining two different coins at the same time without reducing the hash rate for the main coin. The program even informs you which coins are the most profitable in the market at the moment.
Besides Ethereum, you can also use Minergate to mine other coins, such as Litecoin, Zcash, Monero, Dash, Ethereum Classic, BTC, as well as not-so-famous Cryptocurrencies like Infinium-8, Aeon coin, FantomCoin, and Moneta Verde. It supports more than 15 different coins.
Three more important things to note: MinerGate offers its users reliable 24/7 support, has a detailed FAQ section, and currently supports different languages (Czech, German, Spanish, Russian, Italian, Chinese, English, and more).
BFGMiner is written in C just like CGMiner, which allows it to run on different operating systems including Mac, Linux, and Windows. Its modular software miner is also compatible with both ASIC and FPGA.
Some of the benefits you will enjoy if you choose BFGMiner are its ability to mine many crypto coins simultaneously and hash on its famous mining algorithms such as SHA256D and Scrypt. It also offers fan speed control, full monitoring, and integrated overclocking.
This mining solution is considered to be the original Ethereum miner since it was developed by the Ethereum team itself. So, if you’re going for a reliable solution, then this is your guy.
The program gives you a wallet and also allows you to view the history of blocks, create contracts, and transfer funds between different addresses. The original developers also release free-of-bugs updates continuously. It’s currently compatible with iOS, Linux, and Windows.
EasyMiner is a graphical open source version of BFGMiner and CGMiner created specifically for those of you who hate mining on command-line based Ethereum mining platforms.
Very easy to operate, thanks to its neat interface, EasyMiner offers you real-time analysis and stats on your mining performance, like earning potential, total shares in the last hour, accepted/invalid, hash rate, and more.
The program also allows you mine other Cryptocurrencies, including Litecoin and Bitcoin.
Over the years, cloud mining has become a popular trend in the crypto realm, thanks to the fact anyone can give it a try without having to invest in super expensive ASIC chips. If this sounds like something that would interest you, then Miner-Server is the Ethereum Mining Software for you.
Miner-Server has four different mining plans and the least features 250GH/S. the other three hashing power available are 600,000GH/S, 240,000GH/S, and 31,000GH/S.
The Ethereum mining software mentioned above are the best ones according to thousands of users. However, don’t forget that the efficiency of a mining software also depends on the quality of mining pools you work with and the Ethereum mining hardware you use.
Also, remember that “free Ethereum mining programs” do not exist. Almost all mining pools charge at least a 1 percent developer fee. But after all, sometimes you need to give to receive.