Mining profitability decreased on a general basis
Bitcoin, when it was started in 2009, gave rise to many other cryptocurrencies and the process did not seem to end there. Over time, a constant development of the encrypted domain has been observed and not only compared to Bitcoin. The most recent cryptocurrencies have been developed with more efficient protocols, incorporated with respect to Bitcoin and involving different mining techniques. The mining of Bitcoin, from 5 to 6 years ago, was convenient for a small business, as mining equipment was not as expensive as today. Since the hash rate has quadrupled, Bitcoin mining has become obsolete for Solo Miners.
What's gone is gone! But the future is ahead. Therefore, we acquire some information on cryptocurrencies that are profitable for the current generation.
Bytecoin recorded a price increase of almost 5600% in 2017 itself. One of the most interesting points is that the cryptocurrency can be extracted from a normal CPU or GPU and does not involve the use of ASIC miners.
The privacy-based cryptocurrency currency is based on the encryption algorithm and is ASIC-resistant, so if you start to my Monero.
The second largest cryptocurrency is still feasible to be extracted from the CPU and GPU equipment. Ethereum the value has increased 200 times since the last 2 years.
The Electroneum Cryptonote-based cryptocurrency is a pioneer in bringing mining into people's hands and making the extraction process possible through the use of smartphones.
L & # 39; Official Zcash hard fork recorded an increase of 800% in value in the last quarter of 2017. The Crypto currency also supports the mining process through desktops.
Based on the CryptoNight V7 algorithm, the cryptocurrency currency has been very popular in the internet industry. The cryptocurrency acquires the processing power from users of its website.
The cryptocurrency currency uses the modified version of Bitcoin Proof of work protocol and allows various types of data mining initiatives.
Although developed for fun, Dogecoin gained popularity and was the most profitable with regard to mining operations. However, users can upgrade the process using GPUs instead of CPUs.
Next-generation cryptographic money focused on privacy should not be confused with dash. The mining process is made possible by the use of CPUs or GPUs.
Cryptocurrency based on cryptography algorithm is the only one developed specifically to be extracted only through a 64 bit CPU.
Ethereum Classic (ETC)
Although quite unpopular in the cryptocurrency domain, the original Ethereum blockchain is still profitable to a certain extent, as far as the extraction process is concerned.
The currency of the cryptocurrency uses the combined extraction in which the existing mining equipment is sufficient for the process.
Another privacy-based cryptocurrency currency based on the criptonote algorithm turns out to be quite profitable as far as mining operations are concerned.
The cryptographic currency based on Proof of Research rewards users based on the computational power they spend on various scientific calculations.
The cryptocurrency currency uses both CPU and GPU for its mining operations. It is originally a fork of Litecoin.
The mining industry concerning various currencies has been flourishing in a very short time in a few years. The concept of combined mining is none other than, where cryptocurrencies use the existing mining equipment on the market, to avoid waste of mining platforms. The ASIC miners they are dominating the Mining industry and they are highly reliable and efficient when it comes to return on investment.
Points to think about before starting the extraction process
Various practical implications have not been discussed in the article. Therefore, we recommend that users perform a thorough search and only then start the extraction process. Also be sure to confirm the legal implications of mining operations in your location, as various countries have restrictions on it. To make a long story short, collaborating with data mining pools is much more efficient than solo mining.