When Satoshi Nakamoto first introduced Bitcoin, it was possible for people to mine the coins using laptops and desktops. The first bitcoin miners used standard multi-core CPUs. The difficulty of mining was so low that if you had a couple of computers lying around with decent specs you could have earned around $5 a day.
With the introduction of large-scale mining operations and the emergence of Application Specific Integrated Circuit (ASIC) software, created specifically for mining, it became impossible to profit anymore using standard home computers.
However, with the advent of ASICs resistant algorithms, it is still possible to mine other cryptocurrencies from home in 2020 using CPU’s and GPU’s. This article will look at five popular and viable home mining alternatives.
Ethereum (ETH) is the world’s second largest cryptocurrency. At the time of writing, Ethereum currently uses a Proof of Work (PoW) consensus mechanism similar to Bitcoin, which requires developers to authenticate and validate transactions on the blockchain.
However, it must be noted that at some stage in 2020, Ethereum is expected to migrate to a Proof of Stake (PoS), which negates the necessity of mining to validate transactions and achieve consensus on the blockchain.
Ethereum's current PoW mechanism utilizes the ASIC-resistant Ethash algorithm, which permits home mining. However, to maximize earnings, miners have to acquire the most powerful graphics cards on the market and share their processing power over the network by joining mining pools. Read More...