Ethereum cloud mining, Ether cloud mining

Ethereum cloud mining

Ethereum cloud mining is a new product. Ethereum is a decentralized platform and based on the currency Ether (ETH). Both are further described later on this page. Ethereum and the cloud mining contracts have experienced a huge increase in popularity. This is because Ethereum seems to be a platform for the future. We list two companies that have started to offer Ethereum cloud mining, or Ether cloud mining.

Genesis mining Ethereum cloud mining

Genesis Mining Ether cloud mining contracts will run for 1 year. After that will they switch from Ether to X11. That happens if Ethereum switches from proof-of-work to proof-of-stake. According to Vitalik (creator of Ethereum) that will happen at the end of fall 2016. All fees are taken upfront instead of during the lifetime of the contract. That will enable miners to have better control on profit.

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What is Ethereum?

Ethereum is a distributed platform. It allows participants to write and enforce their own “smart” contracts. It is sometimes also referred to as “Bitcoin v 2.0”. The cryptocurrency protocol was developed by Vitalik Buterin in 2013. The protocol received wide support by community and professionals. The first sale of Ether coins (the currency of Ethereum) raised over $15 million (current market cap about $1.000.000.000, February 2016).

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