Ethereum is one of the popular altcoins which has been giving a tough competition to Bitcoin, its forefather. Not only is it easy to mine, but at the same time, it generates better revenues than Bitcoin. This guide provides an insight into Ethereum mining pool and how you can go ahead and create a mining pool of your own.
To create a mining pool, the very first thing that you will require is a good VPS hosting provider. The basic requirements are as follows:
A minimum of 1 CPU core
1 GB ram
Ubuntu 16.04 LTS
At the same time, you will be needing the below-mentioned tools on your PC:
puTTY (SSH client)
A tool such as WinSCP may be used but is not mandatory
Web browser (and not internet explorer)
Setting Up OS
Open puTTY and sign in as the root user to VPS. Create a new, non-root user and then provide it with sudo access. Subsequently, sign in as the new user. Do not log in as the root user again.
The following shell commands must be run in order to update Ubuntu: