Assets, Ethereum

Can Ethereum Be Mined on Phone?

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. In the Ethereum protocol and blockchain there is a price for each operation. The general ledger is called a blockchain.

A blockchain is a shared database that is managed by a network of computers around the world. Ethereum miners are rewarded based on their share of work done, rather than their share of the total number of blocks mined.

The work done by miners includes verifying transactions and adding them to the public ledger (blockchain). Ethereum miners are rewarded with Ether, which is the native cryptocurrency of the Ethereum network.

They are also rewarded with gas, which is used to pay for transaction fees on the network.

The answer is YES, you can mine Ethereum on your phone. However, it will not be profitable.

The main reason for this is that mining requires a lot of energy and power, which your phone will not be able to provide. In addition, the processing power of most phones is not enough to mine Ethereum effectively.

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