The Ethereum Merge is good news for many transaction speeds and fees but bad news for miners. Because the proof of stake consensus process eliminates the requirement for Ethereum to be mined, miners have lost a source of income. However, you can mine other cryptocurrencies with your GPU. So, let’s talk about the greatest Ethereum mining alternatives available.
1. Ethereum Proof of Work (ETHW)
Ethereum Proof of Work (EthereumPoW) is a fork of the Ethereum blockchain that relies on the proof of work consensus process. After the Ethereum Merge, which rendered them obsolete when the consensus method transitioned to proof of stake, this cryptocurrency was launched via an Ethereum hard fork to support miners.
It’s worth mentioning that, at the time of writing, Ethereum Proof of Work is still a relatively new cryptocurrency, so there needs to be long-term data on its viability as a mining alternative. One ETHW token is worth roughly $3.70, a long cry from Ether’s current value. However, if Ethereum Proof of Work becomes a more popular asset for mining, this price may rise.
2. ZCash (ZEC)
3. Vertcoin (VTC)
Vertcoin, launched in 2014, is another ASIC-resistant cryptocurrency excellent for GPU mining. It should be noted that Vertcoin cannot be mined using a CPU. The Vertcoin blockchain employs the Verthash algorithm, comparable to the more widely used Ethash algorithm.
The Vertcoin development team provides One-Click Miner, a software package specifically intended for Vertcoin mining. This application is available for free download on GitHub via the Vertcoin website.
The Vertcoin block reward is presently 12.5 VTC, which equates to around $1.80. This is a little reward that may be off-putting to some. So, if you want to mine Vertcoin, expect a lower revenue than you would from mining other proof-of-work cryptos.
4. Ethereum Classic (ETC)
The Ethereum Classic blockchain was created due to the 2016 DAO breach. Following the massive hack, community members needed help to agree on how to handle the situation. Some wanted to reverse the blockchain, while others argued it should remain unchangeable. This resulted in a compromise that gave way to Ethereum as we know it, while Ethereum Classic remained unchanged.
Ethereum Classic is mined with GPUs and uses the Etchash mining algorithm. The present reward for mining a block is 3.2 ETC, which equates to around $63. This solid block reward might make for a steady cash stream. However, it is worth mentioning that the mining difficulty of Ethereum Classic is increasing as the network grows in popularity.
GMiner and NBMiner are two Ethereum Classic mining software applications that are currently available.
5. Haven Protocol (XHV)
Haven Protocol is inspired by Monero, a privacy coin many people use to be anonymous when interacting with cryptocurrency. It is likewise focused on privacy, and it is home to the world’s first network for stable private assets, which includes various fiat currencies.
The Haven Protocol’s native currency, XHV, is ASIC-resistant and can be mined using GPUs. You can also mine this asset using a CPU if you’re dealing with a limited budget. The current Haven Protocol block reward is 7 XHV, equivalent to $3. The block time is two minutes, which is better than Bitcoin but isn’t particularly quick. However, mining this asset can make a consistent (although small) cash stream.
6. Ravencoin (RVN)
For several years, Ravencoin has been a popular mining choice. This asset was launched in 2018 and is mainly influenced by Bitcoin. Ravencoin, on the other hand, is ASIC-resistant, unlike Bitcoin. That is, its mining algorithm prefers GPU mining over ASIC mining. If you have a GPU or GPU rig, Ravencoin mining may be for you.
Ravencoin’s mining algorithm is also distinct from that of Bitcoin. Ravencoin employs the X16R mining algorithm, which is supposed to resist ASICs. X16R can also sustain network decentralization more effectively than Bitcoin’s SHA-256.
Ravencoin is now worth roughly 20 cents at the time of writing. However, it still needs to be a viable mining alternative. The Ravencoin block reward is presently 2500 RVN, which equates to $500. The block time on the network is one minute, and the mining difficulty is 126.65K. These two metrics, like Ravencoin’s price, are subject to change.
Ravencoin may be mined using various popular mining programs, including GMiner, T-Rex, and NBMiner. All of these are available for free download.
7. Ergo (ERG)
You may not have heard of Ergo before, but it is a popular asset among GPU miners. The Ergo blockchain, launched in 2019, enables developers to create decentralized programs (DApps). Like many other cryptocurrencies discussed here, Ergo is ASIC-resistant, making it a viable option for ex-Ethereum miners.
Ergo employs the Autolykos v2 mining algorithm and is compatible with GPU miners with as little as 3GB RAM. At the time of writing, the current Ergo mining reward is 66 ERG, which amounts to roughly $90. NBMiner and T-Rex are two software applications that can be used to mine Ergo. Because of the low mining difficulty, you won’t need to fork out a lot of hash power to mine successfully.
The Ethereum Merge Hasn’t Ended GPU Mining
The GPU mining sector has suffered due to the Ethereum Merge, but it is far from dead. If you want to continue your endeavor, there are still plenty more cryptocurrencies to choose from, so check out the list above to discover which is best for you.