Assets, Ethereum

Can You Still Mine Ethereum After EIP?

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.

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