The Ethereum merge is great news for many transaction speeds and fees, but not so great for miners. will lose its income stream. But there are other cryptocurrencies that can be mined using GPUs. Now let’s discuss the best Ethereum mining alternatives.
1. Zcash (ZEC)
ZCash is a privacy coin This allows users to hide their wallet address when making transactions. This cipher works using a proof-of-work mechanism and is a solid mining option for users with GPUs.
ZCash uses the Equihash mining algorithm, Resistance to ASIC miningThis is good news for GPU owners as it cuts out a big chunk of the competition.
At the time of this writing, the ZCash mining reward is 3.125 ZEC, currently just over $140. The network has a block time of 75 seconds, which is shorter than other popular proof-of-work ciphers such as Bitcoin and Litecoin.
2. Bartcoin (VTC)
Launched in 2014, Vertcoin is another ASIC-resistant cryptocurrency perfect for GPU mining. Note that you cannot mine Vertcoin using your CPU. The Vertcoin blockchain uses the Verthash algorithm, which shares similarities with the more popular Ethash algorithm.
Vertcoin’s development team offers a software program specifically designed for Vertcoin mining known as One Click Miner. The program can be downloaded for free from GitHub. Vertcoin website.
At the moment, the Vertcoin block reward is 12.5 VTC, currently equivalent to about $1.80. This is a fairly small reward that some people may find offensive. So if you mine Vertcoin, be prepared for a lesser source of income than mining other proof-of-work cryptos.
3. Ethereum Classic (ETC)
ethereum classic It is a hard fork of the Ethereum blockchain and, unlike Ethereum 2.0, uses a proof-of-work mechanism.
The Ethereum Classic blockchain was formed as a result of the 2016 DAO hack. After a massive hack, community members couldn’t agree on how to fix the problem. Some want the blockchain back, while others believe it should be completely immutable. This led to a compromise, giving way to Ethereum as we know it, while Ethereum Classic continued without change.
Ethereum Classic uses the Etchash mining algorithm and can be mined using a GPU. The current reward for mining a block is 3.2 ETC, equivalent to approximately $63. It’s a solid block reward and can create a healthy income stream.
Various Ethereum Classic mining software programs are currently available, such as GMiner and NBMiner.
4. Ethereum Proof of Work (ETHW)
Ethereum Proof of Work (Ethereum PoW) Another fork of the Ethereum blockchain that still uses the Proof of Work consensus mechanism.This cryptocurrency was launched via Ethereum hard fork Supports subsequent miners ethereum mergemade them redundant when the consensus mechanism switched to Proof of Stake.
Note that Ethereum Proof of Work is still a fairly new cryptocurrency at the time of writing, so there is no long-term data on its viability as a mining option. Currently, one ETHW coin is worth around $3.70, a far cry from the current value of Ether. However, this price could rise as Ethereum’s proof of work becomes a more popular asset for mining.
5. Ravencoin (RVN)
Ravencoin has been a popular mining option for several years now. Launched in 2018, the asset is heavily influenced by Bitcoin. However, unlike Bitcoin, Ravencoin is his ASIC resistant. This means that the mining algorithm prefers GPU mining over his ASIC mining. So, if you have a GPU or GPU rig, Ravencoin mining may be a good fit.
Ravencoin also differs from Bitcoin in its mining algorithm. Ravencoin uses the X16R mining algorithm designed for ASIC resistance. X16R is better able to keep the network decentralized than Bitcoin’s SHA-256.
Ravencoin is not worth much at the time of writing, worth around 20 cents. However, this does not mean that it is not a viable mining option. The Ravencoin block reward is currently 2500 RVN, which is equivalent to $500. The network block time is 1 minute and the mining difficulty is 126.65K. These two figures are subject to change, as is the price of Ravencoin.
Ravencoin can be mined via a number of popular mining programs such as GMiner, T-Rex and NBMiner. All of these are free downloads.
6. Ergo (ERG)
You may not have heard of Ergo, but this asset has a strong foothold among GPU miners. Founded in 2019, the Ergo blockchain allows developers to create decentralized apps (DApps). Like many other cryptocurrencies listed here, Ergo is a viable option for former Ethereum miners due to his ASIC resistance.
Ergo uses the Autolykos v2 mining algorithm and is also available for GPU miners with just 3 GB of RAM. His current Ergo mining reward is 66 ERG, which is around $90 at the time of writing. Various software programs can be used by him to mine Ergo, including NBMiner and T-Rex. Mining difficulty is fairly low, so you don’t need to fork a large amount of hash power to successfully mine.
7. Haven Protocol (XHV)
Haven Protocol is inspired by Monero, a privacy coin used by many to maintain anonymity when dealing with cryptocurrencies. Haven Protocol also cares about privacy, hosting the world’s only network for private stable assets, including several fiat currencies.
Haven Protocol’s native currency, XHV, can be mined using GPUs and is ASIC resistant. If you’re on a tight budget, you can also mine this asset using your CPU. The current Haven Protocol block reward is 7 XHV, or $3. Block time is 2 minutes, not as bad as Bitcoin, but not exactly fast. However, mining this asset can create a steady (albeit small) income stream.
Ethereum Merge Doesn’t End GPU Mining
The GPU mining industry certainly took a hit from the Ethereum merge, but that doesn’t mean it’s dead in the water. There are still plenty of cryptocurrencies you can switch to if you want to continue your venture, so check out the list above to see which one is right for you.