Bitcoin is the most renowned cryptocurrency and owing to its popularity it is getting hard to mine day by day. There are plenty of professional miners known as cryptographers mine Bitcoins with dedicated hardware; however there are cryptocurrencies that can be mined on average home computer. They do not require Nvidia graphic cards or other expensive mining hardware in order to mine Bitcoin. Here is a blog post that discusses five cryptocurrencies that can be easily mined on home computers. Read on!
1. Dash (P2P Cryptocurrency)
Dash is a privacy-Centric cryptocurrency that provides instant transactions and secures your transactions without any delay. However, nowadays, dash cloud mining is also an ideal option to earn profits. Some of its unique features include –
• Private – Dash keep the payments private so that no one can track it
• Low Fees – The cryptocurrency charges transaction fees as compared to banks
• Instant – Payments are instantly received by second party
• Peer-to-Peer – No government or bank authority involved in between, as Dash uses decentralized network
• Global – Money can be sent anywhere across the world through Dash
• Secure – Two-tier network and advanced encryption that provides complete security
2. Safecoin (Self-Encrypted Digital Token)
It is a digital token that ensures every user of the network is compensated with value provided by him/her. These coins are distributed by algorithms in the SAFE network. There are around 4.3 Billion coins that are in circulation and each coin has its unique identity. When users exchange Safecoin for network services then they are recycled in order to ensure the continuous supply of these coins to users.
• Login and secure data
• Distributed network with data caching
• Automatic removal of duplicates
• In-built redundancy and data availability
3. Litecoin (Open-Source Digital Currency)
Like every other cryptocurrency, Litecoin is an open-source P2P digital currency that enables quick and zero cost payments globally. It is decentralized cryptocurrency that do not have any control of central authorities over them. Mathematical equations secure network totally so that each single individual can control their finances. Some of its impressive features include improved storage efficiency and fast transaction times. Owing to liquidity, trade volume, and substantial industry support, Litecoin has become a great commerce medium to Bitcoin.
• Blockchain – The blockchain of Litecoin can efficiently handle high volume of transaction as compared to Bitcoin. Its network supports plenty of transactions and there is no need of software modification. Doing so result in quick and instant transactions and there is no need to wait for long in order to confirm the transactions.
• Open Source Software – It is a software project that is released under X11/MIT license and provide you an authority to modify, copy, distribute, and modify the software. It is released to allow binaries independent verification and corresponding source code.
• Mining Reward – At present, miners are rewarded with 25 Litecoin per block and this amount keep on getting halved in every four years (every 840,000 blocks). The network of Litecoin is scheduled to create around 84 Million Litecoin.
• Wallet Encryption – It allows security of wallet so that no one can see transaction details and account balance; however password is needed before spending Litecoin. Wallet encryption offers protection from Trojans and viruses prior to sending payments.
4. Peercoin (Sustainable and Secure Cryptocoin)
This is the most secure cryptocoin that is available at low cost and rewards every user for making the network strong. It is among the unique altcoins; however the code of Peercoin is based on Bitcoin. Proof of Stake is introduced by Peercoin in order to secure the whole network. In addition, Proof-of-Work algorithm is also used in this cryptocurrency for the promotion of distribution; though it does not play any role in the network security.
• Bitcoin Compatible – The cryptocurrency uses similar SHA-256 algorithm as used by Bitcoin. Hardware which is used to mine Bitcoin can easily mine Peercoin too.
• Fair Distribution – In Peercoin, Proof-of-Stake minting is used to maintain the security of network and Proof-of-Work mining is for the new coins distribution.
• Sustainable Reward – Peercoin block reward mining declines as the network’s computing power keeps on growing. With the time, mining will definitely impact the fiat currency supply growth.
5. Namecoin (Decentralized Cryptocurrency)
It is an open-source technology that improves security, privacy, decentralization, and censorship resistance. Besides, it also improves some Internet components’ speed like identities and DNS. Namecoin is listed among the most innovative altcoins ever. This digital currency was the first that implemented merged mining. Additionally, it was the solution to Zooko’s Triangle too. Namecoin can be uses for a lot of purposes, such as –
• It protects online free-speech rights
• Access websites by making use of .bit domain
• Attach information like OTR keys, GPG, email, Bitmessage addresses, and Bitcoin to identity that you choose as per your choice
Apart from these, there are cryptocurrencies that can be mined on simple home computer. However, if this is so hectic for you, then you can opt for Namecoin, Peercoin, Litecoin, Safecoin, and Dash cloud mining in order to earn profits and become a part of this rapidly growing cryptocurrency community.