Ethereum mining is not going through its best moment, and as if this were not enough, new cryptocurrencies hit the market this year, which makes the use of ethereum even more complicated.
This will make Ethereum no longer a profitable coin to mine and will usher in its Proof of Stake protocol update with Ethereum 2.0. For this reason, we bring you different alternatives to Ethereum to mine.
The first of the options that we are going to name is Firo, better known as Zcoin. This crypto is born from the Zerocoin protocol and has its own blockchain. This project had a very similar name to Zcash, with which they share several aspects but are different. Zcash is based on the Zerocash protocol and is a hard fork of Bitcoin. For this reason, the creators decided to change the name to Firo.
Firo’s mission is to provide a service that facilitates marketing and individual financial freedom when transacting, as long as it is something legitimate and does not inflict any harm on other people. Its objective is to provide this type of service without ever leaving aside the maximum possible anonymity, in addition to transparency.
This is quite an interesting project founded by one of the most renowned blockchain technicians by Charles Hoskinson, the co-founder of Cardano. Ergo has its own blockchain, its native governance token called Ergo (ERG) and also has its own language for programming smart contracts.
The mission of this project is to revolutionize blockchain technology in terms of financial contracts, using smart contracts. The Smart Contracts programming language created by the founders of Ergo brings many advantages that chains like Bitcoin do not have. With these Smart Contracts you can detail who can use the cryptocurrency, for what purpose and how to do it.
Of all the previous alternatives to Ethereum, we believe that this is the favorite to be the replacement of Ethereum in terms of mining. Ravencoin (RVN) is a hard fork of Bitcoin, created with the intention of being a blockchain that is used in specific cases. Its objective is to facilitate the exchange of money between two pairs.
This project was launched in 2018 and has some differences from the bitcoin protocol. Although RVN has a Proof of Work protocol, over time they changed their mining algorithm from “X16R” to “KawPow”. This brought with it the advantage that it is not necessary to mine this crypto with ASIC, but with boards with 4GB of RAM or more it is already possible.