Cryptocurrency mining is still important as Ethereum prepares to upgrade to PoW 2.0. ETH will remain the most widely mined currency in 2022. This resource is more often used on video cards and ASICs due to the complexity of the network. However, in order to strengthen the decentralization of the system, the Ethereum algorithm was originally created for mining on centralized computers. Coinage on the processor became impossible as soon as the size of the DAG file for cryptocurrency reached 4 GB. With the introduction of AVX512 and Adaptive Boost technologies, which provided additional memory (up to 5 GB) for processor cores, the popularity of Ethereum mining on the processor increased in 2020.
Characteristics of the processor for mining Ethereum
The main task of the CPU is to allocate PC resources for the best computing. One of the most cost-effective ways of mining cryptocurrency is mining Ethereum on the processor. The performance of video cards and ASICs is higher, but they consume a lot of power. The processor can be modified to have quieter fans, allowing you to dump bitcoins at home.
Several developers are opposed to ASIC equipment that prevents the decentralization of the network. The concentration of computing power on a small number of users increases the probability of a “51% attack”. The introduction of a new asic model for a well-known currency makes mining on farms with a low hashrate unprofitable. Private business owners are leaving the market.
The Ethash algorithm was first developed for mining computers to protect the network. The efficiency of ETH mining depends on the high speed of the CPU RAM. The availability of the AES protocol to support hardware computing also affects the efficiency of mining. Therefore, outdated processor models without this feature are not suitable for mining assets.
Viability of mining ETH on the CPU
More than 70% of the total number of coins generated in 2022 will consist of Ethereum. Video cards are often used by workers, which has contributed to their recent significant price increases. Failures in the supply chain are also not uncommon. Sometimes the search for a good model requires miners to wait for many months.
Users started looking for alternative methods of mining Ethereum. High-performance Intel 11-series processors will go on sale in 2020. Heshreyt allows them to compete with inexpensive graphics cards while consuming less power. This is especially true in places with high energy costs, where expensive “sockets” make powerful video cards unprofitable.
In such circumstances, it is worth taking into account the mining potential of Ethereum processors:
1) If your job requires a powerful processor. You can earn a little more money while the computer is not working. 2) In places where electricity is expensive. You should carefully determine the profitability of the farm using the GPU and CPU. You can do the following to increase your profit:
1) Start mining on the processor and video card at the same time. 2) Use the processor to mint 2 coins. Simultaneous mining of ETH and TonCoin will be significant in 2022.
The Ethereum network will be complex enough in 2022 that mining using inexpensive processor models will be unprofitable. Only modern Intel devices from the 11th series and above can issue a hashrate of 20-30 000 / s (or analogues from other manufacturers). In May 2022, the typical cost of one of these processors will be 115 thousand rubles. If you can find a model in good condition at a bargain price on the secondary market, your mining profit may increase.
With an ETH price of $1.8 thousand, you can earn from $18 to $20 per month by working non-stop. The bitcoin market has been experiencing a protracted decline since 2022. Ethereum has fallen 60% from its highs, and Bitcoin has fallen 55%. Many observers believe that the price of ETH will reach $10,000 with an upcoming growth spurt. In this scenario, the employee’s income will increase many times.
How to use the processor for mining Ethereum
On a computer that is always used for work, you can mine Ethereum. Another option is to build a completely new one just for mining. The answer depends on the user’s goals, such as creating a reliable source of money or periodically running the computer to avoid downtime.
Developers provide a wide range of services for storing cryptocurrencies in 2022. A small part of the money can be put into exchange wallets so that they can be traded or invested. Large quantities should not be stored on Internet sites. Using non-storage wallets for storage is more secure.
Private keys from accounts are transferred to users by such services, and are not stored. Miners are more likely to choose these wallets in 2022 because:
For most services, the account registration algorithm is the same: 1) Visit the developer’s website first. Download and configure the app. There are applications for desktop PCs and mobile devices. 2) Select “Create a new wallet” from the menu. 3) A mnemonic code of 12 words will appear on the screen. It should be recorded and stored in a safe place. If you forgot your password, there is no other way to restore access to your assets. 4) Make sure that the initial value entered is accurate. Arrange the words in the right order to do this.
The wallet menu contains the wallet address. You need to copy and paste it into the appropriate area of the file to get rewarded for mining. bits of the selected pool.
You need to solve a complex cryptographic puzzle to add a new block. The employee who first discovers a valid hash will be rewarded. Compactly mounted hardware for mining processors is part of the case:
1) Power supply. This component is affected by the overall state of the system. Therefore, a reliable server model is required. 2) Video cards. The central processor processes the calculations. Any video card will work as long as the user does not mine simultaneously on the central and graphics processors. The built-in can be used. 3) The processor The main element of the farm is this. Powerful modern models are needed for mining ethereum (the minimum cache size is 5 GB, support for the AES protocol). You can use the server blocks created to configure the data center. They have a significant amount of cache memory and can handle the highest load around the clock. The disadvantage is the high cost. 4)The motherboard. the basis of the computer. It is not worth saving on it, because there are places for fixing parts in it. The processor often fails when there is a short circuit on the motherboard. 5) RAM. Mining requires at least 8 GB. It is preferable to purchase with a margin of 16-24 GB.
Select a pool
Due to the high level of complexity of the networks, in 2022, independent mining of top coins will be unprofitable. Consequently, miners are pooled. These services break down a complex task into a number of simpler ones. In this scenario, the probability of block detection increases many times. Each employee receives compensation depending on their computing power.
You should select a pool based on the following attributes: 1) A good name. Some systems underestimate the hashrates of users, which can increase their own income by 20-30%. You should read the reviews on the forum before you start. 2) The total hashrate. The probability of block detection increases with increasing pool size. 3) The order of profit distribution. Large pools will start using PPS (payment for every legal ball) or PPLN in 2022. (calculation for all parts of the decisions made when searching for a block). 4) The area. The maximum ping time is 100 ms. Some balls will not get into the pool if there is a delay.
Mining of digital assets is a fully automated operation. Specialized programs are used to control the operation of the equipment. Most of the applications are freely available. Developer compensation can sometimes be predefined by default. The program connects the computing power of the employee with the blockchain to verify transactions and receive rewards for mining.
Such initiatives will be used to advertise Ethereum in the main block in 2022:
1)Ethminer. The general application works with all popular operating systems (macOS, Windows, Lunix). 2)CGMiner. You can use the application to work with the processor and the graphics card at the same time. 3) ClayMoreDual. The program allows you to perform calculations in parallel for two different currencies (one of them is ETH).
Ethereum mining will be possible only in 2022 with the help of sophisticated equipment. Mining coins on the processor was successful a few years ago. As of 2019, the Bitcoin DAG file size has increased to 4 GB. Currently, it is difficult to mine Ethereum using a standard computer.
With the advent of the next-generation processor, the situation has changed. Such models will be very expensive in 2022. In parallel, the exchange rate fell by 60%. As a result, the payback period of the farm on the processor is three to four years.
It is recommended to use expensive electricity when mining Ethereum on the processor. Compared to a graphics card, the PROCESSOR consumes less power while performing the same amount of hashing. You can mine Bitcoin on the GPU and CPU at the same time to increase profits. Other alternatives include renting additional capacity or mining two currencies at once (for example, ETH and Toncoin).
Do you like to read similar articles about cryptocurrencies and mining, do you want to support me as an author or ask questions? Be the first to know the news, subscribe to my telegram channel CRYPTO WIKIES