Which Crypto Assets should you Mine in 2019?
Mining has become widely known in the world since around 2017 as a means of holding crypto assets. Currently, many crypto assets need a dedicated machine called an ASIC device for mining. In this article, we will introduce which crypto assets can be mined using GPU / CPU installed on a home PC.
In the early days of Bitcoin, users were mine Bitcoin from their home CPU. Since then, GPU-based mining has become popular because it can perform faster calculations. As the value of crypto assets has grown, ASIC mining equipment has been invented using dedicated chips for better mining efficiency. However, ASIC mining can also cause minor centralization and is a challenge for distributed ledger technology.
Which crypto assets can be mined by CPUs in 2019?
Monero is a crypto asset that launched in 2014. This asset’s main feature is anonymization of transactions. Monero uses the PoW algorithm and can be mined using a CPU installed on a general home computer. In order to mine Monero from your CPU, you first need to create a wallet.
It is possible to create an account on a major crypto asset exchange like Binance or download a Monero wallet from Monero’s official website
It is worth noting that downloading the wallet from the official site requires installing all the transaction information, so it takes quite a long time before a user can begin mining. This is because the amount of data needed is substantial so you will need storage that can store large amounts of data.
Dogecoin is a crypto asset born on December 8th, 2013. This asset is known as the “comic currency.” It is now one of the most famous cryptographic assets, but at first it was treated as a parody currency to Bitcoin. Its ‘dog’ design is a distinctive feature of the cryptocurrency.
The crypto asset has a market capitalization of nearly $200 million and is a good place to invest and mine. Setting up Dogecoin mining is also as easy as Monero. First prepare an address for your wallet. Then create an account in
the mining pool (group to mine with) and enter your wallet address.
You can start mining by selecting the appropriate mining program (depending on the operating system of your computer) and downloading it to your computer.
Zcash can also be mined through your home CPU. It is a crypto asset created based on Bitcoin, but unlike Bitcoin, it is characterized by using a private chain. You can track asset transactions yourself, and you can decide what information you want to publish on your blockchain. It is traded on the following major crypto asset exchanges, so it is easy to trade using mined currencies:
Similar to Dogecoin, here is the mining procedures:
- Create your own wallet
- register with mining pools to create an account
- Install mining software on your computer
as described above.
Which crypto assets can be mined by GPUs in 2019?
Bitcoin Goldwas officially launched on October 24, 2017. The characteristic of this crypto asset is that it uses Equihash instead of SHA-256 as the encryption algorithm. As a result, mining by ASIC is not possible. Although mining by GPU is mainly used, major mining companies are less likely to choose Bitcoin Gold because mining using ASIC is more efficient. Thus, Bitcoin Gold is often mined by small businesses and individuals. It also has a larger block size than Bitcoin and can handle more transactions.
Zencash is a crypto asset utilizing the standard called Zerocoin protocol and was developed in May 2017. The purpose of development is recording identification data and storage of data and assets. It employs technology to anonymize transactions. It also has more nodes than Bitcoin thereby having an advantage over Bitcoin with its wide network.
It has partnered with the company IOHK and appears to be promoting system development at the government level.
Zclassicis a crypto asset that forked off of Zcash. The difference from Zcash is that all rewards are passed to miners. For Zcash, 20% of the mining rewards are designed to be passed on to developers. This allows miners to receive mining rewards more efficiently.