Popular coins to mine in the market: Their technology and market capitalization.

Cryptocurrency mining allows individuals to earn a passive income on a daily basis. It runs on the interface of blockchains which distributes its nodes all over its network. Only when a block is verified, it is added to the chain. 

If you’re here you’re probably looking into how to mine cryptocurrency and which one to go for. It’s easy to earn money as long as you have a connection to GPU, CPU, or ASIC miner in a mining pool. This does require a commitment of an investment from you, however, you would see it to be fruitful as you begin to make profits. 

We have broken it down for you, and listed details of some of the leading cryptocurrencies you should have a serious look at. 

  • Vertcoin

This cryptocurrency was launched to be mined by GPU after Litecoin came into the market. Litecoin was developed with the intention of the GPU mineable alternative to Bitcoin. Since Vertcoin also supports GPU mining, its network is decentralized. 

Things to keep in mind:

  • ASIC machines and CPUs cannot mine Vertcoin.
  • You will need VerthashMine software to mine crypto.
  • You can solo mine or become a part of a mining pool.

Vertcoin functions on the Proof-of-Work algorithm. Its Hashing function is Verthash and its network allows the Hash rate of 4.54 GH/s. 

Market Capitalisation: USD 11,343,856

These values are subject to change in accordance with the crypto market.

  • Grin

This cryptocurrency is labeled as privacy coins, primarily used to make transactions between platforms or individuals. Its network does not allow public viewing of the number of transactions made or the value of each one of them. This is contrary to non-privacy coins, where anyone can view these details. Grin uses the MimbleWimble protocol to ensure security and confidentiality. 

Things to keep in mind:

  • You can mine it in mining pools.
  • Can be mined through GPU software.
  • Can be mined solo with an ASIC miner
  • Grin doesn’t get impacted due to the number of transactions, rather the network bears more significance to the number of users. 

Grin functions on the Proof-of-Work consensus and operates on the Cuckatoo32 algorithm.  It caters to both GPU and ASIC miners with a network hash rate of 11.84 KGps

Market capitalization: USD 6,591,922

These values are subject to change in accordance with the crypto market.

  • Monero

This one is recommended for beginners as it allows mining with a CPU system. It is one of the most reliable and privacy-inclined cryptocurrencies and offers untraceable characteristics. Unlike Bitcoin, where all transactions and amount is visible to the public, Monero allows this information to remain private. 

Things to keep in mind: 

  • You don’t need to put in a lot of investment to begin mining. Monero doesn’t require an ample amount of energy to mine. 
  • 1 Monero is approximately mined every 24 seconds. 
  • You can mine it solo with a GPU system. 
  • You may also mine it through mining pools. 

Monero functions on the proof-of-work mechanism and uses RandomX algorithm. The network gives a hash rate of 2.64 GH/s.

Market capitalization: USD 3,060,41,836

These values are subject to change in accordance with the crypto market.

  • ZCash

ZCash is a privacy-driven coin that keeps transactions confidential. It allows you to opt for publicly transparent wallet addresses whose history can be viewed. This feature is mostly used by companies, and groups who are looking for transparency. However, individuals can choose to shield this information from the public.

This cryptocurrency is backed up by scientists from Tel Aviv University, UC Berkeley, MIT, Technion, and John Hopkins. 

Things to keep in mind:

  • It’s best to mine this cryptocurrency with GPU miners as it is made to be ASIC resistant. 
  • It is minable with CPUs which makes it cost-efficient for beginners. 
  • It mines a block every 75 seconds. 

ZCash functions on the proof-of-work consensus and operates on the Equihash algorithm. Its network hash rate is 6.76 GS/s

Market capitalization: USD 1,141,099,221

These values are subject to change in accordance with the crypto market.

  • Ethereum Classic

This is an extension of Ethereum and believes in ‘’Code is Law’’. It primarily caters to executing smart contracts or coded instructions for individuals and organizations. Its network has minimal human interference. 

Things to keep in mind:

  • It can be mined with a variety of pools. 
  • It facilitates mining on a VPS server. 
  • Each block is created every 10.3 seconds. 

Ethereum Classic operates on the Etchash algorithm with a network hash rate of 31/40 TH/s.

Market capitalization: USD 5,546,179,227

These values are subject to change in accordance with the crypto market.

Bottomline

The best and leading cryptocurrencies to mine today are low-cost mining solutions. As a beginner, you wouldn’t face difficulty to start your mining journey with these. It goes without saying that Bitcoin and Ethereum rule the charts in the market. If you are looking into the crypto world, you should definitely keep an eye on those two. The cryptocurrencies we discuss today are promising, accommodating, and growing in popularity. Experts vouch for them as being a ‘good investment’.

Most cryptocurrencies require GPUs to mine. The most profitable ones would require ASIC miners to receive rewards. You must list your priorities and how much your finances allow you to invest before making a decision. 

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