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 a blockchain, a shared record of all transactions that no single entity controls. The ledger is stored and replicated on every node in the Ethereum network.
Miners are the backbone of the Ethereum network: they not only process transactions but also secure the network by verifying new transactions and committing them to the blockchain. They are rewarded with Ether, the native cryptocurrency of Ethereum, for their efforts.
Is it profitable to mine Ethereum with a GTX 770?
The short answer is “probably not.” The longer answer is “it depends on a lot of factors.” The most important factor is probably the price of Ethereum. If the price of Ethereum goes up, then it might become profitable to mine Ethereum with a GTX 770.
NOTE: WARNING: Mining Ethereum with a GTX 770 is not recommended due to the fact that this graphics card does not have enough processing power to effectively mine Ethereum. The GTX 770 has a hash rate of 6 MH/s, whereas the minimum requirement for Ethereum mining is at least 15 MH/s. Using this graphics card for mining Ethereum could result in slow mining speeds and inefficient use of energy.
However, if the price of Ethereum goes down, then it will probably not be profitable to mine Ethereum with a GTX 770. Other important factors include the cost of electricity, the cost of the GTX 770, and the hashrate of the GTX 770.
To calculate whether or not it is profitable to mine Ethereum with a GTX 770, you need to know the following things:
The hashrate of the GTX 770 in megahashes per second (MH/s).
The power consumption of the GTX 770 in watts.
The cost of electricity in dollars per kilowatt hour ($/kWh).
The price of Ethereum in dollars.
Assuming that you have all of that information, you can use a mining profitability calculator to see if mining Ethereum with a GTX 770 is profitable for you.
9 Related Question Answers Found
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As digital currencies continue to grow in popularity, more and more people are looking for ways to mine them. While there are many different digital currencies, one of the most popular is Ethereum. So, can a Macbook Pro mine Ethereum?
Yes, a GTX 970 can mine Ethereum. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is based on the blockchain technology that underlies Bitcoin.
It’s no secret that cryptocurrency mining has been one of the biggest drivers of the recent surge in graphics card prices. But can a gaming laptop mine Ethereum? The short answer is yes, but it’s not going to be profitable.
