Challenge of mining cryptocurrency in the crypto golden age

Mining in cryptocurrencies is very important because it ensuring the security of the network and verifying of transactions. Miners earn coins for their work. However, for miners to continue to support a network, they need to make returns on mining. This is because mining requires some investment in computing power and the returns generated should be more than the cost of computing power being used by the miner. Majority of the top cryptocurrencies use proof of work consensus that entails miners competing for computing power in order to produce the next block. As cryptocurrency is gaining popularity and the industry approaching almost a trillion dollars, it is evident that more mining will be needed to confirm transactions in the coming future.

Firstly, for Bitcoin, the mining difficulty has increased each year and now it is very inefficient for individuals to make profits when mining Bitcoin. When Satoshi Nakamoto mined the first Genesis block, the level of difficulty was low and a simple computer could easily find the next block. However, as the difficulty level increased the amount of computing power needed has increased astronomically. Currently, Bitcoin solo mining is no longer profitable and an individual needs to join mining pools hand have warehouse- sized ASIC mining equipments. Even with that, the profitability is not guaranteed. Looking at Ethereum, the mining difficulty has also increased and solo miners also need considerable computing power in order to make profits. Finally, mining Ripple is not as open as other cryptocurrencies because miners are chosen by the company to host nodes. The process of creating new coins is not as the same as Bitcoin, Ethereum or EOS.  Instead, the company is responsible and therefore mining Ripple is not direct and straightforward because Ripple does not adopt full decentralization.

Goldrium is the only coin among these top that is still profitable from mining. Goldrium can be mined with hardware GPU or CPU miner or using browser mining operation. This can give anyone an opportunity to mine to get returns unlike the others in the market that require massive capital investment. It is a massive opportunity for early adopters to start getting profits in a new cryptocurrency instead of making huge investments in other cryptocurrencies such as Bitcoin where the returns are not guaranteed.

Another aspect that is important to consider in mining is the future value of a coin. For Bitcoin, the mining difficulty level is high and people mine in order to anticipate the future high value of Bitcoin. In the current state, it is not possible to know the future value of Bitcoin. In order to predict the future value of a coin, other features come into play. A coin with other attractive features is therefore attractive to mine currently and in the long run. One such coin is Goldrium. It has impressive features such as high transaction and processing speeds, unique ICO building capabilities as well as PCI compliance. These features are expected to drive the price of Goldrium up in the medium and long-term. Mining of Goldrium is therefore expected to be profitable now and in the future. Generally, any other cryptocurrency that is building unique feature is a good coin to mine. 


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