What is Ethereum? What is Ethereum mining? | LLGO

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What is Ethereum? What is Ethereum mining?

In the Ethereum universe, there is a single, canonical computer (called the Ethereum Virtual Machine, or EVM) whose state everyone on the Ethereum network agrees on. Everyone who participates in the Ethereum network (every Ethereum node) keeps a copy of the state of this computer. Additionally, any participant can broadcast a request for this computer to perform arbitrary computation. Whenever such a request is broadcast, other participants on the network verify, validate, and carry out ("execute") the computation. This execution causes a state change in the EVM, which is committed and propagated throughout the entire network.

Requests for computation are called transaction requests; the record of all transactions and the EVM's present state gets stored on the blockchain, which in turn is stored and agreed upon by all nodes.

Cryptographic mechanisms ensure that once transactions are verified as valid and added to the blockchain, they can't be tampered with later. 

How does Ethereum mining work?

Ethereum currently uses a proof-of-work consensus mechanism. This means that anyone who wants to add new blocks to the chain must solve a difficult puzzle that requires a lot of computing power. Solving the puzzle "proves" that you have done the "work" by using computational resources. Doing this is known as mining. Mining is typically brute force trial and error, but successfully adding a block is rewarded in ETH.


BTC
Shut Down
Issue amount 21000000
24 hours volume 484.25K
24 hours turnover $ 57.46B
Market Direction Short
Panic Index 74 (Greed)
Swap Rate 2.43%
Market Value Proportion 58.95%
market value $ 12,354.43 x 100 million
24 hour increase 0.10%
Computing power 858.31 EH/s
daily output 0.00000050 BTC / T
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
LTC
Shut Down
Issue amount 84000000
24 hours volume 11.54M
24 hours turnover $ 1.14B
Market Direction Long
Swap Rate 15.17%
Market Value Proportion 0.19%
market value $ 43.24 x 100 million
24 hour increase -2.79%
Computing power 2.97 PH/s
daily output 0.00000348 LTC / M
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
BCH
Shut Down
Issue amount 21000000
24 hours volume 1.00M
24 hours turnover $ 502.20M
Market Direction Short
Swap Rate 5.06%
Market Value Proportion 0.24%
market value $ 53.34 x 100 million
24 hour increase 0.07%
Computing power 4.74 EH/s
daily output 0.00012667 BCH / T
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
FIL
Shut Down
Issue amount 2000000000
24 hours volume 223.40M
24 hours turnover $ 596.79M
Market Direction Short
Swap Rate 32.69%
Market Value Proportion 0.04%
market value $ 27.55 x 100 million
24 hour increase -2.15%
Computing power 22.63EiB
daily output 0.00331771 FIL / TiB
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
XCH
Shut Down
Issue amount 21410000
24 hours volume 633.84K
24 hours turnover $ 6.90M
Market Direction Long
Swap Rate 9.58%
Market Value Proportion 0.00%
market value $ 1.09 x 100 million
24 hour increase -0.95%
Computing power 14912.60839843 PiB
daily output 0.00027662 XCH / TiB
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
ETC
Shut Down
Issue amount 210700000
24 hours volume 24.61M
24 hours turnover $ 489.06M
Market Direction Short
Swap Rate 16.17%
Market Value Proportion 0.07%
market value $ 24.14 x 100 million
24 hour increase -1.40%
Computing power 272.31 TH/s
daily output 0.00004548 ETC / M
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

0%
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