Mining digital coins is very popular nowadays as its return on investment is higher than most industries. As everyone knows Bitcoin, the first decentralized crypto asset that was issued in 2009 and is still mined for profit. In fact, its popularity has promoted the development of specialized mining hardware that runs algorithm specific functions. True decentralization of mining means that any individual can afford to support the platform. For this, CPU and GPU (Graphic Processing Unit) mining exists in platforms to distribute processing power across the globe and in the affordability of the general public. Below is a summary of certain popular digital currencies that are in circulation nowadays and you can get a clear understanding on how to mine them and the parameters of the algorithm they are built on.
Ethereum is an open-source, general public; blockchain based distributed calculating platform and operating system which features the concept of smart contracts. It provisions the adapted version of Nakamoto’s agreement via transaction based state transitions.
MAXIMUM SUPPLY: INFINITE
COINS IN CIRCULATION: 98.150.000
BLOCK REWARD: 2.91
BLOCK TIME: 49.59 SEC
TRADING NAME: ETH
ETHEREUM CLASSIC (ETC)
Ethereum Classic is a decentralized platform that also runs smart contracts; these are applications that run exactly as programmed without any possibility of downtime, restriction, scam or third party intervention. It is decentralized, absolute and unstoppable.
MAXIMUM SUPPLY: INFINITE
COINS IN CIRCULATION: 100.440.000
BLOCK REWARD: 3.88
BLOCK TIME: 15.34 SEC
ALGORITHM: SHA 3
TRADING NAME: ETC
Zcash is the first open, permission-less cryptocurrency that can fully protect the privacy of any transaction.
MAXIMUM SUPPLY: 21.000.000
COINS IN CIRCULATION: 1.200.000
BLOCK REWARD: 10.00
BLOCK TIME: 2 MIN 31 SEC
This coin is hugely popular Coin since its establishment in 2014. Monero is popular for being the most anonymous blockchain. This coin is also GPU minable but ASIC technology is being developed currently so we would advise against further investment in GPU’s for mining XMR
MAXIMUM SUPPLY: 18.300.000
NUMBER OF CIRCULATING COIN: 15.810.000
BLOCK REWARD: 9
BLOCK TIME: 3 MIN
Electroneum is a new blockchain to the mining industry. Electroneum has shown true decentralization by bringing the concept of even mining through your mobile devices’s processing power. This is the reason for its current value in the market as well as its growing user base.
MAXIMUM SUPPLY: 21.000.000.000
NUMBER OF CIRCULATING COIN: 6.409.420.000
BLOCK REWARD: 6708.
Feathercoin was forked from the litecoin blockchain to purpose itself to develop better technologies. It hashing on Neoscrypt (an updated version of the Scrypt algorithm) shows its development mentality. Feathercoin Mining can be done on either computer processors (CPUs) or graphics cards (GPUs), however at this time GPU mining is the most efficient and best publicly available option.
MAXIMUM SUPPLY: 194.137.000
NUMBER OF CIRCULATING COIN: 97.930.000
BLOCK REWARD: 40.00
BLOCK TIME: 1 MIN 6 SEC
NEXUS COIN (NXS)
This coin can actually be mined by GPU and CPU, there not much information on this coin but the developer has work on many cool features like proof of state. This coin may not be the most profitable but maybe when the people start understanding it ,it will reach higher price so accumulation strategies are applied in this case.
MAXIMUM SUPPLY: 78.000.000
NUMBER OF CIRCULATING COIN: 16.392.000
BLOCK REWARD: 110
BLOCK TIME: 5 MINUTES
This is exclusively CPU mining currency so it’s really gone under the table. It implements proof of work and was established from 2014. Still carrying low difficulty, you can also solo mine productively. On the other side, the market cap is low and good development can show fantastic asset value in the future
NUMBER OF CIRCULATING COIN: 42.131.450
BLOCK REWARD: 5
BLOCK TIME: 2.5 MINUTES
HODL COIN : (HODL)
A different concept was introduced to this platform. This coin rewards its miner beyond the formation of blocks. It has created an eco system where current balances are paid interest directly through the blockchain and allows its coin owners to benefit with long term vision and helps upkeep its market value
MAXIMUM SUPPLY: 250.000.000
NUMBER OF CIRCULATING COIN: 164.342.925
BLOCK REWARD: 50
BLOCK TIME: 200 SEC
ALGORITHM: Proof of Work (Modified)