Bitcoin mining has come a long way with not only professionals reaping the rewards with more refined hardware systems. Does that mean it’s the end of the world for crypto miners who’ve been enjoying the benefits using home computers? Not at all! There are many better alternatives.
The difficulty in accessing the bitcoin pool for mining is not the only issue for shifting to another mining base. There are two more problems that further necessitate seeking better alternatives. When it comes to bitcoin mining, the transactions are open-ended, widely noticeable to the public using the network. Moreover, day-by-day due to overcrowding, the required energy has slowed down mining speed and many times an average computer owner is automatically removed by the professional miners.
- Ethereum Is Still The Best
Next to bitcoin, Ethereum Classic is the most popular and profitable token to mine and has created a massive opportunity for those who were looking for a safe alternative to the original cryptocurrency. With zero switching fees, shifting the mining platform is easier. However, your mining success is determined by several factors including cost of electricity, hardware and things related to the network. You can find success in cloud mining on ETC using calculators, but for that you need to go through the details available on its official site. Factors such as block prize, payment, transactions quantity and network trouble decide the amount of profit you can earn as a miner.
ETC is soon shifting to a PoW security model and will continue to reward its miners so that the chain continues. Mining on ETC platform is sure to derive profit for you. The additional features of Ethereum Classic like smart-contracts are expected to make it a much-preferred altcoin in the coming days.
Digital Cash or Dash has a mining cap of $18 million whereas the mining cap of bitcoin is 21 million coins. Originally launched as Xcoin in January 2014, it is now used as both a token and for Dash mining process which has helped the miners improve problems with speed and privacy while mining bitcoin. Its transactions are carried out in combination with the PrivateSend feature that protects the transaction privacy of the miner. When it comes to speed, Dash transactions take only a few seconds to complete whereas with bitcoin you have to wait at least for 10 minutes. The decentralized nature of Dash offers better benefits than bitcoin.
This block-chain based social media currency offers a platform through which every miner has the opportunity to earn a prize. Rewarding on Steem is similar to voting a post on Reddit or giving a Like to a Facebook post. You earn a prize for liking, posting, saving and even for commenting. Miners are paid for the rewards by blockchain distribution similar to what bitcoin miners get paid. You can even exchange the token with Openledger, Poloniex, Shapeshift, and Bittrex.
Its free-to-use feature and blockchain technology makes it a better choice over other tokens.