Assets, Ethereum

Who Is the Largest Miner of 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. In the Ethereum protocol and blockchain there is a price for each operation.

The general idea is that in order for the network to remain robust and secure, miners must be incentivized to continue verifying and processing transactions. These fees are collected by the miners and then distributed among themselves according to their share of work done.

The amount of work done by a miner is proportional to the number of hashes that they can perform per second. Hashes are essentially mathematical puzzles that must be solved in order to confirm a transaction.

The more hashes a miner can perform, the more likely they are to find the solution to the puzzle first, and thus confirm the transaction.

The current largest miner of Ethereum is Nanopool, which holds approximately 15% of the network’s hashrate. Nanopool is followed by Ethermine (13%), F2Pool (12%), and Sparkpool (8%).

Collectively, these four miners account for approximately half of all Ethereum hashrate.

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