Finding the best Electroneum (ETN) mining pool is a complex undertaking. That is a fact that most of us are aware of it. However, there are several factors to consider while looking for the best ETN Mining Pools.
In the coming parts, we will share with you all the essential information you should have to locate the most fantastic Electroneum pool. This covers learning about Eelectroneum (ETN), crypto mining, the benefits of ETN mining, and a list of ETN Mining Pools.
What is Electroneum (ETN)?
Electroneum (ETN) is a cryptocurrency that was created in 2017 with the goal of enabling mobile payments and providing financial services to individuals who lack access to traditional banking. It was designed to be easy to use and accessible to people all over the world, including those who may not have access to traditional banking services.
The Electroneum platform uses a mobile app to enable users to make payments and transfers using their smartphones. The app also allows users to earn ETN by completing various tasks, such as watching videos or completing surveys. These ETN can then be used to purchase goods and services within the app, or exchanged for other cryptocurrencies or traditional currencies on various cryptocurrency exchanges.
One of the unique features of Electroneum is its mining process, which is designed to be accessible to anyone with a smartphone. Unlike other cryptocurrencies that require specialized equipment and technical expertise to mine, Electroneum uses a mining process that can be done on a smartphone or tablet.
Overall, Electroneum aims to provide a simple, user-friendly platform for mobile payments and financial services, particularly for individuals in developing countries who may not have access to traditional banking services.
AnyTask.com VS. ETN Mining
AnyTask.com and ETN mining are two different initiatives of the Electroneum (ETN) platform, which aims to make digital payments more accessible and convenient for people around the world.
AnyTask.com is a freelancer platform that allows people to offer their services to clients in exchange for ETN. This platform is designed to be easy to use and accessible to people from all backgrounds, providing a wide range of services such as graphic design, writing, programming, and translation.
ETN mining, on the other hand, involves using computing power to verify transactions and add new blocks to the Electroneum blockchain. Miners who participate in this process are rewarded with ETN tokens, which can be used for a variety of purposes, including digital payments and online purchases.
While AnyTask.com and ETN mining both involve the use of ETN tokens, they serve different purposes and are aimed at different audiences. AnyTask.com is primarily designed for freelancers and clients who are looking for convenient and secure ways to exchange services, while ETN mining is aimed at individuals who are interested in supporting the Electroneum network and earning rewards in the process.
Overall, both AnyTask.com and ETN mining are important components of the Electroneum ecosystem, providing users with different ways to participate in the platform and helping to drive the growth and adoption of the ETN token over time.
What is Cryptocurrency Mining?
Cryptocurrency mining is one of the methods of interacting in a cryptocurrency network. Users provide mining power in order to process transactions and get rewards for their efforts. The Bitcoin (BTC) network allows Bitcoin miners to execute trades using ASIC technology.
ASIC miners are potent but also costly mining machines. Users may mine BTC using CPU or GPU resources in the early days of Bitcoin. That is nearly impossible nowadays.
On the other hand, other virtual currencies have been introduced to the market. Some of them let users mine using a GPU or a CPU. One of them is Electroneum. As a result, anyone may begin mining ETN utilizing a smartphone or a computer.
Electroneum mining may be fundamental and straightforward. Furthermore, we should choose the finest Electroneum mining pool to use a broader network of miners. The developers behind this coin intended to offer an easier manner for people to obtain access to cryptocurrencies.
This starkly contrasts Bitcoin, which is presently extremely difficult to mine at home. Users may quickly begin mining Electroneum using a smartphone after developing an ASIC-resistant digital asset. That will be extremely simple for anyone who wishes to have access to the crypto market in only a few clicks.
The Benefits of Electroneum
1. Mining Fungibility
Electroneum mining has a number of advantages. This section will focus on these benefits. The term “electronic commerce” refers to the sale of electronic goods. While Bitcoin and Litecoin (LTC) are not fungible tokens (meaning they can be tracked), ETN provides consumers with greater anonymity.
As a result, users may transmit and receive ETN without fear of being expelled from the Electroneum community. That implies your coins will be accepted. They are just as valuable as any other ETN on the market. Instead, for the Bitcoin network, the newly generated BTC is free of any unlawful activity or transaction.
2. Easy to Use
Another advantage of Electroneum mining is how simple it is to get started. Users may start mining in only minutes. They do not require any additional gadgets. This is unquestionably an advantage over Bitcoin.
They can already be rewarded for using a smartphone or a PC in the network. However, we also need to know how to pick the finest Electroneum mining pool.
3.Multiple Use Cases
Furthermore, users that are rewarded with ETN tokens may quickly spend or utilize them. As previously stated, they may be used to engage in the AnyTask.com service or ETNDonate.com.
These two systems are already operational and are linked to the Electroneum cryptocurrency. Furthermore, ETN coins may be exchanged on a variety of cryptocurrency platforms. As a result, the whole ETN community may reap the benefits of ETN Mining Pools.
Benefits of Electroneum Mining Executive Summary
- Simple to use
- Not hard to mine (you can do so with a smartphone)
- It makes it possible for people from disadvantaged groups to join the network.
- No costly equipment is necessary.
- ETN tokens are interchangeable.
- The ETN digital asset has a variety of uses.
There are a ton of other advantages that need to be included here. However, taking part in the cryptocurrency market is a fun activity. The entire Electroneum community may keep expanding and develop into a more significant effort in this field in the future.
Let’s take a look at the best ETN Mining Pools. As you may be aware, we may need mine with other individuals through the use of a mining pool to improve our mining performance.
What exactly is a Mining Pool?
A mining pool is a collection of cryptocurrency miners that collaborate (with their hardware) to enhance their payouts in Proof-of-Work (PoW) blockchain networks. Cryptocurrencies such as Electroneum, Bitcoin, and Litecoin may be mined utilizing a mining pool.
The mining pool will be compensated if it discovers a block with transactions. The greater the mining power, the more likely this mining pool will locate a block. The mining pool’s earnings are subsequently divided among the miners in proportion to their mining power.
For the ETN digital asset, there are many mining pools. The aim is to locate the finest Electroneum mining pool accessible right now. However, this is subjective. There are certain ETN Mining Pools that are superior to others. Your requirements will determine everything. This is why you should conduct thorough research on the finest Electroneum mining pool.
One of the most excellent methods to uncover some of the finest Electroneum mining pools is by utilizing MiningPoolsList. The website contains valuable information on the pools that users may use to earn ETN prizes.
The Top ETN Mining Pools
Now that we’ve covered the fundamentals let’s look at some of the more popular ETN Mining Pools to see which could be the best match for you.
I would recommend F2pool as an Electroneum mining pool, mainly because they now hold approximately 70% of the network hash rate. They are a well-known pool, and based on their track record, it is clear that all of this hash power is provided by ASIC machines.
They also charge the highest price for Electroneum pool mining, at 3%. They also demand registration and personal information to mine, which goes against the privacy characteristics of a currency like Electroneum.
Poolin is the second biggest Electroneum pool, with around 12% of the network hash power. It, like F2pool, is founded in China and focuses on ASIC rig mining. It also charges a 2% mining fee. Payouts are made once a day, and there’s a minimum 100 ETN requirement for payments.
They just added California-based servers, so they now have a worldwide server base from which you may mine from anywhere in the globe. They are intriguing in their usage of a local token, the PIN, which is supplied to miners on a regular basis through an airdrop.
Spacepools is an ancient Electroneum mining pool that used to be located at http://pool.electroneum.space The term “responsibility” refers to determining whether a person is responsible for their own actions. This has them finding a brick nearly every hour.
One significant advantage of mining with Spacepools is the extremely cheap 0.1% mining cost. They also have a minimum payment of 100 ETN and worldwide servers.
Fairhash is a Russian-based pool with worldwide servers. Like Spacepools above, they have slightly under 10% of the network hash rate and locate a block around every hour or so.
The mining charge is typically 1%, and they offer to mine straight to an exchange wallet, which is useful if you want to sell your mining gains.
Nanopool – Nanopool features mining pools for numerous privacy-focused currencies, and Electroneum is only one of them. They likewise control around 10% of the network hash rate, but they are a little more expensive, charging a 2% mining fee.
The fast start instruction at Nanopool is a wonderful tool that should have you up and mining in minutes. It’s a smart decision in terms of trust and decentralization.
Other Electroneum Pools
There are more pools outside these five, but they have very few miners, and the hashrates are relatively low and can be pretty choppy as well. You might use Easyhash, Miningpoolhub, Superpools, and Hashvault to make hash power more decentralized, but bear in mind that you may have to wait longer for blocks and rewards.
Searching for an Electroneum Mining Pool
If you’ve read any of our prior articles on mining other coins, you know that the qualities to look for in mining pools are similar from currency to coin. With that in mind, I’ll offer you the abbreviated version, but if you need more information on what qualities to look for in a mining pool, check out the Bitcoin Gold mining pool article for a more extensive discussion of each function.
- Fees: The average mining pool will have fees around 1%, with fees reaching 3% at certain pools and decreasing to 0% at others. Obviously, if you’re saving on fees, you’re making more for yourself.
- Server Location(s): The closer the servers are to you, the better your hash power will be, and your mining activities will be more profitable. While it is possible to mine from servers on another continent, it is recommended to stick to pools in the same geographic region as you, whether that is Asia, Europe, or North America.
- Trustworthy: The larger established pools are typically regarded as reliable, but if you’re considering a new pool, do some research to see whether the community has found the pool to be trustworthy in correctly crediting your account and in paying on schedule.
- Payout Scheme: There are numerous payout plans, some dependent on luck and others just on the equitable distribution of prizes. The following is a list of the best restaurants in the world.
- Pool Uptime: Look for a pool with an uptime that is as close to 100% feasible.
- Minimum Payout: The smaller this number is, the sooner you will be paid. Nothing is more frustrating than having to mine for weeks and weeks before being delivered.
- Pool Hash Power: This is a personal choice, but in general, it is better for the network if you pick a pool that controls 25% or less of the network hash power. This contributes to decentralization and network security. You may need absolutely mine with the largest pools if you desire, but using a smaller pool is better for the network.
With so many possibilities, picking a solid cryptocurrency to mine might be difficult, but you could do worse than Electroneum. Even though ASIC mining is permitted, it remains a lucrative currency, provided you have a high-end GPU.
Similarly, because it can be mined with nothing more than a smartphone, it is available to billions of individuals worldwide. To be sure, you will earn a maximum of a cent or two a day with a smartphone, but in certain places of the globe, that’s all that’s required to make a difference in someone’s life.
I would avoid F2pool as an Electroneum mining pool, but any of the others I mentioned would be solid options for earning ETN while also helping to develop the network.