The Ethereum network is in the midst of a long-awaited upgrade that will see the introduction of a new mining algorithm, called ProgPow. This change is necessary to prevent ASICs from taking over the network and centralizing power.
However, it’s not clear if this upgrade will be enough to keep ASICs at bay, or if they will simply find a way to adapt.
In the meantime, though, it’s still possible to mine Ethereum using GPUs. This is because the ProgPow algorithm is designed to be ASIC-resistant, meaning that it should be much more difficult for specialized hardware to gain an advantage.
NOTE: WARNING: Mining Ethereum after the implementation of the Ethereum Improvement Proposal (EIP) may be difficult or impossible, depending on the difficulty of the blockchain. It is highly recommended that you research and understand the current state of the Ethereum network before attempting to mine Ethereum. Furthermore, mining after EIP may result in reduced rewards and/or decreased profitability, so proceed with caution.
Of course, this doesn’t mean that ASICs won’t eventually figure out a way to mine Ethereum effectively, but it does buy some time.
So, if you’re interested in mining Ethereum, you can still do so using your existing GPU setup. However, it’s worth keeping in mind that the days of easy mining may be numbered.
As such, you may want to consider switching to another coin that is less likely to be Targeted by ASICs in the future.
8 Related Question Answers Found
As the world’s second largest cryptocurrency by market capitalization, Ethereum has had a lot of attention from investors and miners alike since its launch in 2015. With its recent switch to a proof-of-stake (PoS) consensus algorithm, however, some have wondered whether mining is still possible on the Ethereum network. The answer is yes, but it’s not as simple as it used to be.
As of late, Ethereum has been in the news a lot due to the impending launch of EIP 1559. This upgrade to the network is set to change the way that transaction fees are calculated, and has caused a lot of debate within the community. Some people are in favor of the change, while others believe that it will make it harder to mine ETH in the future.
As crypto prices have been on a rollercoaster ride over the past few months, many people have been wondering if they can still mine Ethereum and other cryptocurrencies. The answer is yes! You can still mine Ethereum and other cryptocurrencies, but it might not be as profitable as it was a few months ago.
As the second-largest cryptocurrency by market capitalization, Ethereum has garnered a lot of attention from investors and crypto enthusiasts alike. One of the key features that sets Ethereum apart from Bitcoin is its use of smart contracts, which allow for the creation of decentralized applications (dapps) and other blockchain-based protocols. However, Ethereum is also unique in another way: it is currently the only major cryptocurrency that can be mined.
It’s been a big week for Ethereum. First, the much-anticipated Berlin hard fork went off without a hitch, and now the long-awaited EIP-1559 upgrade is finally on the horizon. This upgrade is set to go live in July, and it’s expected to have a major impact on the Ethereum network.
As the cryptocurrency industry continues to grow, so does the need for new and innovative ways to mine Ethereum. One such method is known as E3. E3 is a new way to mine Ethereum that is said to be more efficient than traditional methods.
Yes, Ethereum can still be mined. In fact, mining Ethereum is currently more profitable than ever. This is due to the recent increase in the price of Ethereum and the decrease in the difficulty of mining.
Ethereum, the world’s second-largest cryptocurrency by market value, is down more than 70% from its all-time high in January. The sell-off has been driven by a variety of factors, including concerns about the issues with the ethereum network’s scalability, regulation, and competition from other cryptocurrencies. Investors are also worried about the possibility of a hard fork of the ethereum network, which could split the cryptocurrency into two separate assets.
