The cryptocurrencies along with the Blockchain technology has given rise to a number of complex terminologies or technical terms which are proving to be very new to the normal people. Any person who is looking forward to investing in the cryptocurrency domain or the Blockchain Technology needs to undertake an extensive research work, prior to any decisions taken with respect to the cryptocurrency market since it is highly unpredictable in nature. Cryptocurrency mining, proof of Stake, Consensus mechanisms, Initial coin offerings, Smart contracts, decentralization are only some of the terms, but there are a lot more technological advancements that have been made in the domain. let us look at some of the cryptocurrency to mine with gpu.
The cryptocurrency mining is nothing but a process to solve Complex mathematical algorithms by the Brute Force computations which require the CPU’s processing capabilities. In short, the cryptocurrency Mining is directly dependent upon the size of the Network. Greater the number of nodes in the network, higher is the mining difficulty. If we consider the case of Bitcoin, earlier prior to 2016, the network wasn’t that popular and hence the Mining was possible through the CPUs itself. In order to get a clear picture, a Pentium 4 PC was sufficient to mine almost 100 Bitcoins in the year 2010. Nevertheless, the current scenario is highly contradictory to it, as the Bitcoin network has expanded at unprecedented rates. These days ASICs are being extensively used for the mining purposes, as the CPUs and the GPUs have become absolutely obsolete for mining purposes.
However there are certain cryptocurrencies which have been developed due to the recent advancements, that doesn’t require Application Specific Integrated Circuits and can effectively be mined through the GPUs and CPUs. At technical levels, they do not envisage the usage of Proof of Work consensus mechanism but uses some other form of Consensus mechanism in order to gain stability within their network. Let us list some of the cryptocurrency to mine with GPU.
It is one of the best cryptocurrency to mine with GPU, as it doesn’t incorporate the Proof of Work Consensus mechanism but uses the more efficient Cryptonote algorithm, in order to achieve Consensus throughout its network. The Cryptonote protocol enables the cryptocurrency to mine with GPU, as it promotes the most anonymous peer to peer Bytecoin transactions. The official page of the cryptocurrency coin recommends Xmrig, as one of the most reliable and simple Mining software for Bytecoin. Specifically, there are three different variations of the software, each individually designed for the usage in CPU, GPU, and AMD graphic cards respectively.
The second biggest cryptocurrency coin has been designed in such a way that it can be used as a cryptocurrency to mine with GPU, therefore, enabling the effective decentralization of the cryptocurrency mining. Another major advantage of this particular feature is that it prevents the centralization of the cryptocurrency mining operation which indirectly may lead to gain control over the blockchain network which can be highly dangerous. Also, the Smart contract functionality has enabled the developers and users from the world in order to develop their own decentralized applications. Its Turing complete programming language, Solidity is effectively used for the creation and development of Smart contracts within the network. Ethminer is the recommended mining software for the cryptocurrency to mine with GPU.
Monero is also application specific Integrated circuit resistance when it comes to the cryptocurrency mining operations as even this cryptocurrency coin is based on the cryptonote algorithm. Monero offers highly anonymous forms of cryptocurrency transactions, as both the sender’s and receiver’s information is hidden from the Blockchain network. This cryptonote algorithm enables the cryptocurrency to mine with GPU and also the cryptocurrency can be mined even through mobile phones. This was evident from many of the crypto jacking incidents that took place within the cryptocurrency market. Wolf’s CryptoNote miner and MonersSpelunker are recommended for CPU as well as the GPU mining respectively.
Even this cryptocurrency uses cryptonote algorithm through which the cryptocurrency it is in it has enabled the cryptocurrency to mine with GPU. Interestingly even a mobile application is available on Google play store in order to mine cryptocurrency through mobile phones.