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Miners secure blockchain networks, and they also help them become more decentralized. How do miners secure blockchain networks? An attacker needs to spend the same digital asset more than once for a double-spend attack to occur. The act also occurs when an attacker steals funds or spends what has already been spent on the blockchain network. Double-spending usually occurs in smaller blockchain networks with little computing power or hash rate. To prevent double-spending on blockchain networks there is the need for a distributed network of miners.
Ethereum Classic miners work together to detect valid transactions and disregard unverified ones. The incentives issued to miners help compensate and motivate them to continue mining to secure the blockchain network. What do you need to mine Ethereum Classic? Source: NotebookCheck 1. Keep an ETC wallet handy to store your tokens.
Mining Ethereum Classic involves the same process as you mine other PoW coins. There are certain things you need in mining Ethereum Classic. To begin with, you need a wallet to store your Ethereum Classic tokens. For this article, we recommend Exodus Wallet or Cobo Wallet. It is essential to know that you can also use a hardware wallet to store your ETC tokens.
Set up the hardware for mining. Furthermore, you will need hardware for mining. CPUs are obsolete. You will need Nvidia graphics cards such as the and i. Choose a mining software. Furthermore, it would help if you also had mining software.
These software miners support dual mining. Another mining software that you can use is Ethminer. You need to know that this software supports both Windows and Linux devices. For a more straightforward process, you can use MinerGate. Then extract the contents of the archive. There is a reference script etc. A file called config. There should already be one or two pool config templates in there.
In the first template, set the algorithm to etchash, the wallet to your wallet, and url to the pool you want to mine to. The create a new flight sheet. Set Coin to ETC. Create a new wallet with your wallet addresses if multiple wallet addresses are required, separate by , or by space. Set Pool to Configure in miner. Set Miner to BzMiner. Set Name to anything you want to name this flight sheet.