Electroneum is a fork of Monero, which has been gaining more popularity nowadays. When you want to mine Electroneum, the possible mining set up can be initiated with ASIC miners as that is the only choice for Electroneum hardware. Electroneum uses “Cryptonight” mining algorithm and you can even mine ETN with your phone, using a mobile miner apart from the conventional method.
The ETN community has signed an agreement to provide access to around 100 million smartphone users via mobile operators. After you download the Electroneum mining app, you can start mining within minutes. In the future, the ETN users will find it beneficial as they can earn coins by just being a part of the community. Some of the mobile operators have agreed to start accepting ETN as a payment method. The ETN team has already signed contracts in 9 countries with around 1.2 million dealers, agents, and distributors.
Once it has become ASIC-resistant, the next step taken by the ETN team is enabling ASIC mining. The reason for this is to maintain the speed of Electroneum to maintain its scalability,i.e, processing multiple transactions quickly. To achieve this, the ASIC miners can help bring efficiency and greater performance as compared to Electroneum GPU mining.
If you want to become a successful Electroneum miner, there has to be a combination of participants, combining their hashpower to mine a block faster and get rewards, which can enable you to earn a frequent and stable income.
As discussed earlier, ASIC miner is one of the most appropriate choices of hardware for mining Electroneum. Along with the hardware, you might need an external PSU cable in order to configure your device but it's not always required. You must make sure that you have a reliable internet connection, as you can’t afford to get the connection interrupted. Try not to get a limitation on your internet connection, as you should have atleast 500 MB-1 GB per device each day. You must also consider power consumption. If you are planning to have multiple mining machines, then calculate if a single power grid can handle it or not. Electroneum Mining Software should be carefully chosen, too.
The most recommended Electroneum mining pools are- NanoPool, MiningPoolHub, and SpacePools
Before deciding on the right hardware for Electroneum, you should consider certain factors like the device power consumption, hash rate, and price. The most recommended hardware is :
The Antminer X3 can enable you to earn more than 120 USD per day with 220 KH/s. This is a Cryptonight ASIC miner, with a profit ratio of around 346% and an annual return percentage of around 145% with a power consumption of 500 W.
You can buy Bitmain Antminer X3 here
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