Gpu in cryptocurrency mining
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LITECOIN IS BETTER THAN BITCOIN
It is, of course, the fork of Ethereum itself but tags itself as a stable and bug-free version of Ethereum. It is so because it is complicated for developers to build on a dynamic platform like Ethereum which is continuously evolving.
But they have tweaked their proof of work algorithm from Ethash to Ubqhash which is also mineable using GPUs. Ubiq has also changed its block time and block reward to 1. The shortcomings were that Bitcoin is not private, it is slow in transaction confirmations, is limited in number, etc.
BCH has a block reward of BCH which is released every 8 minutes or so to a successful block miner who is mining it using BCD proof of work algorithm. Aion AION The Aion Network is a multi-tier blockchain system designed to address scalability, privacy, and interoperability which the decentralized applications of today face. On the other hand, it has the lowest block timing 10 seconds amongst all the GPU mineable coins listed here, so you can expect to get 1. As a result, it is tough that this coin will survive for long but anyways, for now, anyone who decides to mine it can expect 2.
Pirl aims to hit the usecase of decentralized currency, applications, and governance. Pirl is sometimes mistaken as Ethereum, but it is not, and neither had an ICO before. Metaverse ETP Metaverse is another decentralized public blockchain from China and aims to facilitate a low-cost transfer of digital assets, properties, and identities. And as I have said earlier this is not for serious miners as there fairly low chances of this project to take-off in the long run.
This is because there several other platforms trying to achieve the same goal and are in a much better state than Metaverse. It has its cryptocurrency called EXP based on Ethash proof of work which fuels this blockchain platform and is easily mineable using GPUs.
The project is decent, and thus some serious miners can look at with a future expectation of price appreciation for the coins they mine now. So for the miners, Expanse has a block time of 45 seconds where it generates 4 EXP every block for a successful block mine. Musicoin Musicoin is another Ethash based cryptocurrency that you can mine using your GPUs Musicoin is the blockchain platform of musicians, and it has its native cryptocurrency MUSIC which is designed for musicians.
Using this digital currency MUSIC musicians can be paid directly and instantly, without intermediaries thereby receiving their fair share. Musicoin miners can expect to earn MUSIC coins every time they mine a successful block which has a block timing of 13 seconds. But anyway one thing I forgot to mention before: I have listed these GPU mineable coins in order of their usecase and probable longevity because I believe for a serious miner this should be the focus.
I will tell you why? It is so because when you are mining a cryptocurrency, the best thing to do is to mine a cryptocurrency that is moderately profitable at that point and has a chance to appreciate in the future. This way as a miner you will be able to amass a lot of coins when the hashrate is low and benefit later from the price appreciation also.
But usually, this is the mindset of value miners and other profit drive miners who keep jumping from one currency to another almost certainly run out of the fuel to be in the mining business. Now its time that you tell us: Are you mining cryptocurrencies with your GPU? For sure there will be profitable coins to mine with GPU or 2.
Sell off your GPUs. Ethereum has proven to be the most profitable crypto. Hope it gets delayed. However if you are planning to buy GPUs and build a mining rig for Ethereum then it is not advisable. We do not recommend getting in to Ethereum mining or GPU mining at this point as it is very risky. Note that there is also a difficulty bomb planned for Ethereum in near future which will further discourage mining.
Is is worth starting mining in ? Is it still profitable to mine cryptocurrency with a GPU in ? Yes, it is. If you have to buy a GPU now to get into mining then you may be out of luck. Mainly because Ethereum will soon go Proof of Stake and that is the only coin worthwhile to mine right now. After Eth PoW ends mining will not be profitable. You should expect a large amount of second hand GPUs flooding the market. Once GPU prices crash you can acquire it and there may be some profitable coins like for example you can mine Ravencoin , Flux, Bitcoin Gold, Eth classic and so on.
But it may not be as profitable as it is now. But the rise of ASICs had made the leading cryptocurrencies centralized. Now their mining is largely controlled by ASIC mining farms and pools. In order to allow anyone to mine and as a response to the growing influence of ASICs; coin developers created and used algorithms that are immune to ASICs.
So that it can be well-suited for mining with a home computer and allow coins to be more fairly distributed. Here are some of such popular algorithms and coins that are designed to be ASIC resistant. Bytecoin BCN — Another anonymous cryptocurrency. Due to ASIC resistance these coins were ones a popular alternative for home miners. GPU mining in ? The growing mining difficulty and 3. Drop in coin prices. These three factors have made impossible for at home miners to profitably mine a coin using GPUs.
Back then one would cover their GPU costs in just a couple of months. But in current scenario GPU would not be able to create such high profits. If you are not doing proper research and are mining the wrong coin then your GPUs would barely break even. Maybe in future once the alt season starts the profits might increase and the mining will become profitable again. But in current trend mining cryptocurrencies using GPU is not as profitable as it use to be before. So GPU mining still makes sense.
Because unlike ASICs, graphic cards could mine any algorithm.
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