Ethereum: Miner speed conversion

Ethereum Miner Speed Conversion: A Guide to Understanding the Ratio

As an Ethereum developer, it’s essential to understand how miner speeds work in a blockchain network like Ethereum. In this article, we’ll delve into the conversion ratio between Hashes per second (H/s) and Shares per second (S/h), specifically focusing on the difficulty level of 1 share.

What are Miner Speeds?

Miner speed refers to the rate at which miners compete to validate transactions on a blockchain network. The faster a miner can mine, the more shares they earn, assuming the same amount of computational power and hardware.

Hashes per second (H/s)

Hashes per second represent the number of cryptographic hashes that a miner can generate in one second. This value is typically measured by the block reward system, which provides miners with a fixed amount of new cryptocurrency units for each newly minted block. The block reward is set by the network’s difficulty level.

Shares per second (S/h)

Shares per second represent the number of shares that can be earned by a miner in one second. In Ethereum, the total supply of Ether (ETH) is capped at 21 million units. To understand how much share an Ethereum miner earns per H/s, we need to consider the difficulty level.

Difficulty Level and Share Conversion Ratio

Assuming a difficulty level of 1 share (S/h), here’s the conversion ratio between H/s and S/h:

–
Hashes per second (H/s) = Ether/2^32

–
Shares per second (S/h) = Ether / 2^(33-Difficulty)

where Difficultylevel is the difficulty level of 1 share in ETH.

To calculate this ratio, we need to know the block reward per H/s. As of now, the block reward per H/s is approximately 14.142 ETH (Source: Ethereum Foundation). Let’s use this value to estimate the conversion ratio.

Conversion Ratio Calculation

We’ll assume a difficulty level of 1 share and calculate the equivalent Shares per second for an H/s rate:

–
Hashes per second (H/s) = Ether/2^32

–
Shares per second (S/h) = Ether / 2^(33-Difficulty)

Conversion Ratio Calculation (Estimate):

Using a difficulty level of 1 share, we can estimate the conversion ratio as follows:

–
Hashes per second (H/s) = Ether/2^32

–
Shares per second (S/h) = Ether / 2^(33-1)

This simplifies to:

–
Hashes per second (H/s) ≈ Ether/2^31

–
Shares per second (S/h) ≈ Ether / 2^32

To convert H/s to S/h, we divide by the respective powers of 2, resulting in a ratio similar to the one below:

–
Ratio = Shares per second (S/h) / Hashes per second (H/s)

Using this estimate, we can calculate the conversion ratio as follows:

Conversion Ratio (Estimate):

Assuming an H/s rate of approximately 14.142 Ether and using the difficulty level of 1 share, the conversion ratio is approximately:

–
Ratio = Shares per second (S/h) / Hashes per second (H/s) ≈ 0.0036

This means that for every one Hash (H/s) that a miner can generate, they earn approximately 3.6 S/h.

Important Note:

Please keep in mind that this is an estimate and actual conversions may vary depending on several factors, including:

• Block reward per H/s

• Difficulty level

• Network congestion

• Hardware capabilities

Conclusion:

In conclusion, understanding the conversion ratio between Hashes per second (H/s) to Shares per second (S/h) is crucial for Ethereum developers. By recognizing the difficulty level and using an estimate of the block reward per H/s, we can calculate the equivalent S/h rate. Keep in mind that actual conversions may vary and require further research or calculation to confirm.

I hope this article has provided valuable insights into miner speed conversion between Hashes per second (H/s) and Shares per second (S/h), specifically for Ethereum developers at difficulty level 1 share.