Ethereum & Ethereum Classic | The Basics

in cryptocurrency •  7 years ago 

ETHEREUM & ETHEREUM CLASSIC

Ethereum is an open blockchain platform that lets anyone build and use decentralized applications that run on blockchain technology. Like Bitcoin, no one controls or owns Ethereum – it is an open-source project built by many people around the world. But unlike the Bitcoin protocol, Ethereum was designed to be adaptable and flexible. It is easy to create new applications on the Ethereum platform, and with the Homestead release, it is now safe for anyone to use those applications.

To begin with Ethereum. One. You can either buy or mine Ethereum or ETH in short. To mine Ethereum one must have plenty of GPUs/GPU power to process or capture/mnipulate data/blocks living and running within the blockchain. There are certain platforms such as minergate that give you access to CPU/GPU mine on several different cryptocurrencies but it is very slow and useful for an exchange at best. Do not start mining with a simple laptop or a CPU that is basic within its internals, let alone, do not mine with a(n) aftermarket box therein unless equipped with plenty of GPUs.

If you wish to mine with a simple graphics card that comes built in general laptops (i.e. NVIDIA M/X GPUs, AMDs, etc…) , here is a simple method:

Download and install a wllet
I prefer the Mist wallet via https://github.com/ethereum/mist/releases

but for simplicity and cross-platform functionality, https://Jaxx.io

The download will be fast but the sync process will take some time (depending on your download/upload velocity). Your download will come with GETH. Before you run mist.exe go to user/appdata/roaming/ethereum/geth/ hold shift+right mouse button, open command promt and type: geth –fast –cache 512

Or you can download geth directly from: https://geth.ethereum.org/downloads/, store the downloaded files in the directory of choice. Go the that directory and open the “Geth” folder, now while holding shift, right click and open command prompt and type: geth –fast –cache 512

  1. Now to download the miner softwars. There are different GPU based miners out there for use which are all opensource but the one that I have had the most success with in terms of speed, functionality and cross-platform (ETH/ETC) and multi-wallet depositions, Genoil miner seems to work best.

To Mine ETH, I suggest ethereumpool

Ethereumpool has a link, “how to mine?“, that explains the basics in order to get anyone to mine ETH with ease. Depending on what OS you are running, follow the appropriate steps and vuala, you are all set to start mining.

***you will find the “genoil miner” download link on the “how to mine?” page.

To mine ETC, I suggest etc.nanopool

ETC nanopool has a link, “help“, that explains the basics in order to get anyone to mine ETH with ease. Depending on what OS you are running, follow the appropriate steps and vuala, you are all set to start mining.

***if you downloaded the genoil miner from ethereumpool.co, simply make a new config batch file with the ETC pool server setting and your ETC wallet address and you are all set to go.

I switch between mining ETH and ETC simply by utilizing different config.bat with the same miner.

Here are some useful links:

Ethereum: https://www.ethereum.org/
Ethereum Classic: https://ethereumclassic.github.io/
Jaxx wallet: https://jaxx.io/
Mist wallet: https://github.com/ethereum/mist/releases
Geth: https://geth.ethereum.org/downloads/
Ethereumpool: http://ethereumpool.co/
ETC.nanopool: https://etc.nanopool.org/

Contribute:
BTC: 3BUs7sAjhbgHfmHGEKyXGHapxmwKoxvGnf
ETH: 0x1Bf6c381B609D046C260457A0183A9a2C3Fa536d

There are other pools out there, which I am not listing, that you can experience once you have the basics of the miner configuration compiled and is functionally working.

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