It was in the summer of 2022 that Ethereum’s mining process ended forever and the platform’s consensus mechanism changed from Proof of Work (PoW) to Proof of Stake (PoS). Ethereum was one of the most profitable projects for miners. But with the conversion of the Ethereum network to Proof of Stake, home miners and large companies have faced problems and are looking for another way to mine Ethereum.
But what digital currencies can replace Ethereum mining? Join us in this article to review and introduce the best digital currencies in terms of network and possible costs as an alternative to Ethereum mining.
How to find the best Ethereum mining alternative currency?
Now that Ethereum mining is no longer possible, it is better to look for the best alternatives for this task. The following list is a collection of the best Ethereum mining altcoins, compiled based on criteria such as profitability and energy consumption:
- ZEC
- Vertcoin (VTC)
- Ethereum Classic (ETC)
- Ethereum Proof of Work (ETHW)
- Raven Quinn (RVN)
- Ergo (ERG)
- Hun Protocol (XHV)
Before we continue reading, it is good to know how to calculate profitability, energy consumption and many other things. This will help you to choose the best minable digital currency according to your situation.
The digital currency mining calculator is one of the tools that calculates the energy consumption, profitability, mining power and even the temperature of the device for you. It is enough to give your rig mining details to these calculators; They provide you with the overall result in the shortest possible time.
By checking the characteristics and profitability of each digital currency with any type of device you have, you can have a correct and principled comparison of alternative digital currencies for Ethereum mining. Finally, choose the best digital currency of your choice as an alternative to Ethereum mining.
- (ZEC): ZCash is a cryptocurrency based on the Bitcoin blockchain with a strong focus on privacy. It uses strong cryptographic methods to hide transaction details, allowing users to transact completely privately if needed.
- Vertcoin (VTC): Vertcoin is a valid cryptocurrency built on the Bitcoin blockchain. The main purpose of VertCoin is to allow users to mine using graphics cards. This cryptocurrency uses the Scrypt mining algorithm that miners can access to the cryptocurrency using graphics cards.
- Ethereum Classic (ETC): Ethereum Classic is a version of Ethereum derived from the original Ethereum blockchain. This cryptocurrency was created as a response to a known security attack on Ethereum. Ethereum Classic and Ethereum Common are commonly in circulation and differ in their value and usage.
- Ethereum Proof of Work (ETHW): Ethereum Proof of Work is also a modified version of Ethereum, except that it uses the Proof of Work algorithm instead of Proof of Stake. This change has been made in order to increase the speed and reduce the costs of Ethereum transactions.
- Raven Coin (RVN): Raven Coin is a blockchain-based cryptocurrency inspired by the Bitcoin algorithm. This cryptocurrency uses the X16R mining algorithm, which creates more diversity in the mining process and controls the distribution of the cryptocurrency.
- Ergo (ERG): Ergo is a blockchain and cryptocurrency based on the new version of the Proof of Work algorithm. This cryptocurrency is based on Oracle Security technology, which enables the execution of smart contracts.
- Hun Protocol (XHV): Hun Protocol is also a privacy cryptocurrency developed on the Ergo blockchain. This cryptocurrency uses proof-of-work and proof-of-broking algorithms and has the ability to hide transaction information.
