Ethereum Classic (ETC) Mining Instructions 2021

In the summer of 2016, the Ethereum platform was hard forked. Part of the community switched to a new branch of the chain, and users who did not agree with the change in the rules continued to work in the “The Dao” project.

A coin was created on the basis of the main crypto platform Ethereum Classic… ETC mining is popular with experienced miners. Tens of thousands of users work on large classic Ethereum mining servers such as Ethermine and Nanopool.

What you need to start mining ETC

The main tool for earning a coin is powerful graphics processors, but Asiki are already on sale using the Dagger Hashimoto algorithm. ETC mining requires capital investment and special skills, but traditionally occupies the first lines in the list of the most profitable cryptocurrencies.

Features of the currency

Classic Ethereum costs much less than modified Ethereum, but it has a number of advantages, such as:

• Site stability.
• Increased requirements for the security of contracts. After the hacker attack that led to the split of Ethereum, the main focus of the developers is on protecting against intruders.
• Increased speed of money transfers.
• In 2019-20, there were several 51% attacks, which significantly undermined the project’s reputation.

In contrast to the modified ether, which is preparing for the transition to PoS-algorithm (proof of ownership), ETC mining will remain available in the next few years.

How to mine, basic parameters

In August 2020, the Ethereum cryptocurrency ecosystem was subjected to several massive hacker attacks. The attackers bought up all the free computing power on the nice hash service and for some time took control of over 51% of the network, which allowed them to double-spend.

As a result, more than $ 5 million was stolen, exchanges stopped servicing the network and the very existence of the classic ether was threatened. I must say that the “white” hackers have long warned the project team about the impending threat, but they were ignored. As a result, the project almost ceased to exist, but nothing happened.

In December 2020, classic ether is again traded on many reputable exchanges and is successfully mined on pools (except NiceHash). The Thanos hard fork, carried out on 11/29/2020, breathed new life into cards with 3 and 4 GB memory.

As for ASIKs, they will no longer be able to mine Ethereum Classic. Although, if the coin rises in price, and a lot of ether goes to PoS, custom firmware will appear in the future, but this is just speculation. And, at the moment, the ETC pools are reigning Rx 570/580 4GB, but old ones will do too 1060 3GB… The wallets have remained the same, and the traditional “pools” have not changed, but the old mining software is no longer relevant. However, the developers have released a sufficient number of new versions of the software.

Choosing a wallet for mining

Before you mine Ethereum Classic, you should get a MyEthWallet wallet to store your earned coins.

The ETC online wallet works equally well on any device. With it, you can send and receive crypto coins, check balances, store funds and interact with the blockchain. Offline transaction creation is supported.

The wallet supports Ethereum, Ethereum Classic and ERC 20 tokens i.e. all assets created on the Ethereum blockchain. Its interface is clear, intuitive and beginner friendly.

If you have created your own application on the Ethereum blockchain, you can deploy your contract through the wallet interface. Unlike ETH, the ETC register cannot be changed by anyone.

You can use plugins to login MetaMask or Mist… As well as a hardware wallet such as Safe or Ledger Nano.

The implementation of Agartha ETC ensures full backward compatibility between ETH and ETC. Thus, the two cryptocurrencies can develop together – and this means even more benefits for the users of the Ethereum Classic web wallet.

On the official website, the developers offer eight programs for working with classic broadcast: web wallets, utilities for installation on a PC, applications for a smartphone. There are multicurrency wallets for saving cryptocurrency: Cryptonator, Coinomi, Holy Transaction.

But, service Myethwallet most popular due to the cold storage option and synchronization with hardware resources. Myethwallet can integrate with Trezor and Ledger, access coins using a browser by installing the MetaMask add-on.

If the purpose of mining is ETC and the transfer of rewards to bitcoins or cash, the best option for short-term storage is a cryptocurrency exchange. Two hundred trading platforms are engaged in operations with air classic.

Coins can be exchanged for other altcoins (including BTC), withdrawn to fiat, placed on a deposit until the rate reaches the desired level. How to mine Ethereum Classic to a cryptocurrency exchange wallet? It is necessary to go through the registration procedure and obtain a deposit address.

• Cryptocurrency exchanges have proven themselves well: Binance, Exmo, Poloniex.

Pools (pool) for mining

The next step is pool selection. A pool is a community of crypto enthusiasts who have combined resources to mine a certain coin on a special server. The pool distributes the task of decrypting the cryptocurrency block between the miners and divides the received profit according to the contribution of each participant.

Where is the best place to mine ether classic? Mining requires a lot of computing power. A pool with a small number of miners and a weak hash rate will search for a block for a long time, which will lead to a decrease in income and delay in payments.

You do not need to register on the Nanopool pool, so just go to the next item and download the program.

Recommended pools for mining ETC:

Ethermine – convenient pool is in no way inferior to Nanopool

• Convenient interface and many active users.
• Beautiful website design.
• Reliable servers.

Beepool – Chinese service with mandatory registration. Its main advantages are the PPS + payment system and a low withdrawal threshold (by default 0.1 ETC). The Russian language is not supported, the English translation of the interface is slightly careless, hieroglyphs are often found. But in general, miners have no particular complaints about the work of the bee pool. They pay honestly and on time.

Nanopool – we recommend choosing this particular pool. Most users choose it.

• Convenient tracking of farm speed and the number of mined coins.
• A large share of mining from the network of large coins.
• There are other popular coins.
• Reliable servers.

NiceHash service has stopped supporting Ethereum Classic!

New software for mining classic Ethereum

PhoenixMiner

PhoenixMiner… The set of functions and graphical interface of the program is similar to the popular in the past Claymore, but has certain advantages:

• In favor of the developer is deducted 0.6%, and not 2% as in the claymore.
• The hashrate is 1-2% higher.
• Accelerated creation of a DAG file (a set of data loaded into GPU memory when a mining utility is launched).
• Secure SSL connection is supported.

The Ethereum Classic (ETC) network has switched to a modified version of Ethash called ETCHash. If you want to mine ETC, download PhoenixMiner 5.3b, otherwise the cards will be driven by share rejected. Download link https://mega.nz/#F!2VskDJrI!lsQs (MEGA).

Greens can mine Ethereum Classic using the T-Rex 0.19.1 or Gminer 2.3 miner, and lolMiner 1.16 is suitable for the Reds. But Phoenix remains the only universal program.

A sample bat file is in the miner itself (start_miner_etc), the standard configuration does not need to be entered.

The main thing is that you have the correct version of the miner.

Profit calculation and how to calculate monthly profitability

Before starting any business project, you need to know the return on investment. For a preliminary estimate of the profitability of mining ETC, there are online calculators. One of the most popular service WhatToMine… We go to the site, select the Ethereum Classic altcoin and enter:

• the aggregate hashrate of the rig’s video cards;
• power consumption;
• the cost of electricity;
• pool commission.

The calculator will give information on the estimated number of coins earned during the day, week and month and calculate the profitability of mining ETC.

WhatToMine has data on the hash rate of many GPUs. The calculator can show a list of the most profitable cryptocurrencies for a particular model. When mining on AMD, the classic ether is traditionally at the top of the rating. Of course, the calculation results of the calculator are approximate. Potential downtime and errors when setting up video cards are not taken into account. But they will help determine the promising areas of crypto mining.

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