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Whitepaper - Ethereum Classic With Cover

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<strong>Ethereum</strong> <strong>Classic</strong> Documentation, Release 0.1<br />

• Now make sure geth has finished syncing the blockchain. If it is not syncing any longer, you can start the<br />

mining process by typing ethminer -G at the command prompt<br />

At this point some problems may appear. If you get an error, you can abort the miner by pressing Ctrl+C. If the<br />

error says “Insufficient Memory”, your GPU does not have enough memory to mine ether.<br />

1.6.5 Pool mining<br />

Mining pools are cooperatives that aim to smooth out expected revenue by pooling the mining power of participating<br />

miners. In return, they usually charge you 0-5% of your mining rewards. The mining pool submits blocks with<br />

proof of work from a central account and redistributes the reward to participants in proportion to their contributed<br />

mining power.<br />

Warning: Most mining pools involve third party, central components which means they are not trustless.<br />

In other words, pool operators can run away with your earnings. Act with caution. There are a number of<br />

trustless, decentralised pools with open source codebase.<br />

Warning: Mining pools only outsource proof of work calculation, they do not validate blocks or run the VM<br />

to check state transitions brought about by executing the transactions. This effectively make pools behave like<br />

single nodes in terms of security, so their growth poses a centralisation risk of a 51% attack. Make sure you<br />

follow the network capacity distribution and do not allow pools to grow too large.<br />

Mining pools<br />

• coinotron<br />

• nanopool<br />

• ethpool - Predictable solo mining, unconventional payout scheme, affiliated with etherchain.org.<br />

• supernova<br />

• coinmine.pl<br />

• eth.pp.ua<br />

• talkether - Unconventional payout scheme, partially decentralized<br />

• weipool<br />

• ethereumpool<br />

• pooleum<br />

• alphapool<br />

• cryptopool<br />

• unitedminers<br />

• dwarfpool - Try to avoid this (currently over 50% of the network)<br />

• laintimes - Discontinued<br />

1.6.6 Mining resources<br />

• Top miners of last 24h on etherchain<br />

• pool hashrate distribution for august 2015<br />

• Unmaintained list of pools on Forum<br />

• Mining profitability calculator on cryptocompare<br />

72 Chapter 1. Contents

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