Hello everyone , today we'll talk about one of the hottest topics of the moment : Cryptocurrency Mining .
First of all ,what is a cryptocurrency ?
A cryptocurrency is a medium of exchange like normal currencies such as USD, but designed for the purpose of exchanging digital information through a process made possible by certain principles of cryptography. Cryptography is used to secure the transactions and to control the creation of new coins. The first cryptocurrency to be created was Bitcoin back in 2009. Today there are hundreds of other cryptocurrencies, often referred to as Altcoins.
Source ( https://www.cryptocoinsnews.com/cryptocurrency/ )
In the last period we often hear about ETHEREUM & ZCASH .
But what are these cryptocurrencies ?
- ETHEREUM
Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications. While the bitcoin blockchain is used to track bitcoins , the Ethereum blockchain focuses on running the programming code of any decentralized application.
So Ethereum ( ETH ) wants to be a 'World Computer' that would decentralize.
- ZCASH
Zcash is a cryptocurrency that offers privacy and selective transparency of transactions.It uses cryptographic zero-knowledge proofs (zk-SNARKs) to protect both the amount and recipient of shielded transactions.
So Zcash is a decentralized and open-source cryptocurrency which ensures full anonymity.
Now let's talk about MINING
This image has one example of how Bitcoins are mined :
MINING DIFFICULTY
If we take a look , ETH mining difficulty is growing exponentially .
If we take the example on February 15th the difficulty was 129.591 TH ,now is 713.188 ,so it has grown X5,50.
Switching to PoS (Proof-Of-Stake), Ethereum has caught the attention of miners ,so during this period the GPU's ( video cards ) are searched all over the world .
Regarding Zcash ,the situation is similar .
On February 15th the difficulty was 933 542 M ,now is 3 227 293 M ,so it has grown X3,45.
That's how I had to say ,now is your turn to comment and discuss this topic : Better ETH mining or ZCASH mining ?
What to mine ?
Thank you !
If you liked this post , follow me @braveheart22 & thank for your comments & upvotes .
I think nowadays altcoin mining become faded. Since mining is not a good solution for scaling up the altcoin. The altcoin is going to change from POW to POs. And there are more and more ICO with fixed amount of tokens. So the future of mining is not so optimistic...
Yeah is a good opinion ,we'll see soon . For the moment ,seems that people are earning however with mining
I am using nicehash mining which auto switches to the most profitable mining automatically. Set and forget (or call me lazy).
I'd say it's easier to mine Monero and exchange for your currency of choice, but I'm still a rookie so I could be wrong.
Monero is too a good bet
Congratulations @braveheart22! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honnor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPBy upvoting this notification, you can help all Steemit users. Learn how here!
Very good article. Nice to see I'm not the only one who thinks like this. The quality coins are here to stay and it's like buying in at the S&P 500 50 years ago. Cryptos will fall and rise at a more rapit phase any investment market has ever seen. Just hold (literaly) and enjoy the ride. We do need more indept investment analysis. I really advice people to take a look at: https://www.coincheckup.com I'm really enthusiastic about this site, they let you analyze every single coin out there. On: https://www.coincheckup.com/coins/Zcash#analysis To see the: Zcash Detailed report.
@salinapate011714 thank you for your comment ! All of us hope the cryptos will og up and up , and this it will happen ,soon or later. Stay tuned for another news ,thank you