While it is no longer possible to mine bitcoin on a single computer, you can still mine other cryptocurrencies at home if you are willing to put in the effort.
Setting up a small home cryptocurrency mining operation might be the best option for you if the volatility of investing in cryptocurrencies is too much for you but you still want to take advantage of the new economy.
A cryptocurrency that doesn’t require a huge mining rig is the easiest to mine. Although it was initially possible to mine Bitcoin using desktops and laptops, the development of hardware designed specifically for bitcoin mining known as Application Specific Integrated Circuits (ASICs), and the rising difficulty of mining have rendered it virtually impossible to mine Bitcoin profitably at home using the processing power of a PC or laptop computer.
However, in 2022, it will still be possible to mining process of cryptocurrencies from home for other well-known cryptocurrencies. Many well-known choices will be discussed in this article, along with some step-by-step instructions to get you started.
1. Horizen (ZEN)
Launched in 2017, Horizen and its native cryptocurrency ZEN is a proof-of-work, equihash-based cryptocurrency and is mineable with a GPU. The project aims to ensure data integrity and privacy freedom by enabling real-world use cases within a secure interoperable blockchain ecosystem. Its highest price was US$148 achieved in December 2021. It has a sizeable market cap and liquid daily trading volume. More information about mining ZEN can be found here.
Vertcoin (VTC), which went live in 2014, is another popular option for small miners. The digital currency was created with Satoshi Nakamoto’s vision of financial sovereignty and decentralization in mind when he created Bitcoin in mind. The blockchain was created by project developers in response to the increasing influence that ASICs were having on the Bitcoin blockchain and the mining ecosystem as a whole.Lyra2RE is the algorithm that is used with Vertcoin’s POW consensus mechanism. It is designed to be resistant to ASICs and to support GPU and CPU mining at the same time.
VTC’s popularity stems from its straightforward mining process. The architecture of the project has been designed to facilitate simple mining, so all you need to do is click. To begin mining, download the software from this site and join a mining pool to increase profits.
Based on the CryptoNote protocol, AEON was initially a fork of Monero.To guarantee that transactions cannot be traced, it makes use of ring signatures and the CryptoNight-Lite algorithm.AMB and Nvidia GPUs, as well as Windows CPUs, can be used to mine AEON.
Beam (BEAM), a MimbleWimble implementation, is ideal for home mining. It makes use of the GPU-supporting Hashii algorithm.
Download the official Desktop Wallet for your computer’s operating system to get started. The mining software might be flagged as malicious by your antivirus. If you don’t exclude it from that designation, the mining process will be difficult.
You can begin mining once the blockchain has been downloaded and synchronized. Your settings must first be set up. Set the number of mining threads to a value that is greater than or equal to zero after activating the “Run Local Node” feature.
It is essential to keep in mind that Beam’s infrastructure makes use of expiring addresses to ensure maximum privacy. To successfully recover your mining profits, however, you will need a permanent address, or your tokens will be lost. Go to the software’s receive tab on the main dashboard to create a permanent address. For the mining setup, you can create a new address and set it to never expire.
5. Grin (GRIN)
The launch of Grin (GRIN) occurred in January 2019. The project demonstrates a strong focus on scalability and privacy. The MimbleWimble algorithm is used by the Grin blockchain, like Beam, to support transactional privacy.
However, the most important feature of the blockchain for the home miner is its ASIC-resistant POW algorithm. In addition, the project’s creators have gone one step further by hard-coding a hard fork every six months to lessen the impact of any ASICS that might be made just for its network.
GPU and CPU mining are both supported by Grin. Nvidia graphics cards, on the other hand, are regarded as being more efficient, so if you decide to use a GPU, get one. Additionally, you need at least 5.5 GB of storage space to begin mining the coin.
Download the blockchain to set up a node from the official website to begin “GRINning.”Connecting the node to your wallet is necessary only after you have successfully synced the blockchain. Simply running a file in the directory will create your wallet. Your graphics cards must be set up to work with the wallet once it is life. Last but not least, keep in mind to set the software to the Cuckaroo POW, which is the Grin network version that supports GPU mining. Need to know about mining process of cryptocurrencies, just check this blog, World Informs!