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GENERAL KNOWLEDGE

Best Crypto Currencies to Mine on GPU in 2023

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What else to mine insted of Ether?

Cryptocurrency mining is a process of verifying transactions on a blockchain network and earning rewards for doing so. Mining requires a lot of computational power and electricity, which can be expensive and difficult to obtain. However, some cryptocurrencies are more suitable for mining with GPUs (graphics processing units) than others, because they use algorithms that are resistant to ASICs (application-specific integrated circuits), which are specialized hardware devices that can outperform GPUs in mining. In this article, we will review some of the best cryptocurrencies to mine with GPU in 2023, based on their profitability, popularity, and difficulty. We will also provide some tips on how to choose the best GPU for mining and how to join a mining pool to increase your chances of finding blocks and earning rewards.

1) Ethereum (ETH)

Ethereum is the second-largest cryptocurrency by market capitalization and the most popular platform for smart contracts and decentralized applications (DApps). Ethereum uses the Ethash algorithm, which is designed to be memory-hard and ASIC-resistant, meaning that it requires a lot of RAM and GPU power to solve. Ethereum also plans to switch from proof-of-work (PoW) to proof-of-stake (PoS) in the near future, which will make mining obsolete and replace it with staking.

Ethereum is one of the most profitable cryptocurrencies to mine with GPU in 2023, because it has a high demand and a low supply. The block reward for Ethereum is currently 2 ETH per block, plus transaction fees and uncle rewards. The difficulty of mining Ethereum adjusts dynamically based on the network hash rate, which is the total amount of computing power dedicated to mining. The higher the hash rate, the harder it is to find a block.

To mine Ethereum with GPU, you need a powerful graphics card with at least 4 GB of VRAM, preferably 6 GB or more. You also need a mining software such as Claymore’s Dual Miner or Phoenix Miner, and a wallet address to receive your earnings. You can either mine solo or join a mining pool, where you share your hash rate with other miners and split the rewards proportionally. Some of the most popular Ethereum mining pools are Ethermine, Sparkpool, Nanopool, and F2Pool.

2) Monero (XMR)

Monero is a privacy-focused cryptocurrency that uses the RandomX algorithm, which is optimized for CPUs and GPUs. RandomX is based on random code execution and memory-hard techniques, which make it resistant to ASICs and FPGAs (field-programmable gate arrays). Monero also implements features such as ring signatures, stealth addresses, and bulletproofs, which enhance its anonymity and security.

Monero is one of the easiest cryptocurrencies to mine with GPU in 2023, because it has a low difficulty and a stable price. The block reward for Monero is currently 1.22 XMR per block, plus transaction fees. The difficulty of mining Monero adjusts every block based on the network hash rate. The lower the hash rate, the easier it is to find a block.

To mine Monero with GPU, you need a graphics card with at least 2 GB of VRAM, preferably 4 GB or more. You also need a mining software such as XMRig or SRBMiner-MULTI, and a wallet address to receive your earnings. You can either mine solo or join a mining pool, where you combine your hash rate with other miners and split the rewards accordingly. Some of the most popular Monero mining pools are MoneroOcean, MineXMR, SupportXMR, and XMRPool.

3) Vertcoin (VTC)

Vertcoin is a decentralized cryptocurrency that aims to be ASIC-resistant and fair for everyone. Vertcoin uses the Lyra2REv3 algorithm, which is a chained combination of multiple hashing functions that require different types of memory and computation. This makes it hard for ASICs to adapt and dominate the network.

Vertcoin is one of the most stable cryptocurrencies to mine with GPU in 2023, because it has a loyal community and a low inflation rate. The block reward for Vertcoin is currently 25 VTC per block, plus transaction fees. The difficulty of mining Vertcoin adjusts every block based on the network hash rate. The higher the hash rate, the harder it is to find a block.

To mine Vertcoin with GPU, you need a graphics card with at least 2 GB of VRAM, preferably 4 GB or more. You also need a mining software such as Vertcoin One-Click Miner or VerthashMiner, and a wallet address to receive your earnings. You can either mine solo or join a mining pool, where you contribute your hash rate to a collective effort and share the rewards equally. Some of the most popular Vertcoin mining pools are P2Pool, Zergpool, MiningPoolHub, and Coinotron.

GENERAL KNOWLEDGE

Mining payment systems comparision

1 Comment
  1. Proportional – no hazardous for pool owner cause payment to miners is done until the block is found. Then the proportional share is divided between  miners according to the hash rate they have contributed in time between previous found block and current. This type of payment can vary much in time because the moment of founding the block is totally random. In this type of payment only the large share of pool in entire currency mining size.
  2. PPS – Pay per Share – stable earning but charged with high pool fee often. The pool pays independently from the block finding moment. Even if the founded block is orphaned the miners also get payed for it. The Payment is calculated by the shares sent by miner. Expensive but stable.
  3. RBPPS – Round Based Pay Per Share – as above but do not pay for orphaned.

  4. PPLNS – Pay Per Last Number of Shares – quite stable considering a resistance to pool hoppers. The idea is similar to Proportional as miners take the risk of variance of finding a block on themselves as one pool. It means the miners earnings appear only when block is found. But PPLNS has a feature that the earnings level are calculated on the number of shares of previous block. So the curve of earnings increases quite long but also diminishes in long period of time even after stooped mining. This protects against pool hooppers which have noting to gather because to get payed they would have to participate in previous block mining.

  5. HBPPS – Hourly based PPS – also payed pay shares calculated up to finding block but calculated on the hourly basis