We all love making money on the side! Here are some great options for cryptocurrencies that are available for you to mine today with your CPU!
ZCash
Zcash has been around for a while - since 2016 in fact! This cryptocurrency is designed to be a privacy-centric project in which the privacy of users’ financial transactions is the utmost paramount. It achieves this by incorporating zero-knowledge proofs that allow one party to prove to another party that something is undeniably correct without having to reveal sensitive information.
The project integrates the zk-SNARKs, a privacy protocol, that allows financial transactions to become anonymous as it shields the transaction information. For this reason, Zcash is well-known to be one of the best cryptocurrencies if users are looking for privacy.
Mining Specs;
-Algorithm; Equihash
-Hashing Function; SHA-256
-Mining Reward; X12.5 ZEC per block;
- Homepage; https://z.cash/
- Mining Tutorial; https://z.cash/mining/
Monero
Monero is another privacy-focused cryptocurrency that was created in 2014. Forked from Bytecoin, Monero intends to create a fully anonymous cryptocurrency in which users can send value to each other without this information being traced.
Monero uses a range of privacy features that helps to achieve anonymity. Ring Signatures allow for the identity of the sender to be hidden from other parties within the “ring” as other parties cannot see who signed the transaction. Stealth Addresses are one-time-use addresses created for each individual transaction which helps to hide the identity of the receiver. Lastly, RingCTs help to hide the transaction amount in the transaction details - helping to conceal how much value was sent.
Mining Specs;
-Algorithm; CryptoNight
-Hashing Function; BLAKE-256, Groestl-256, HJ-256, and Skein-256
-Mining Reward; 2.14 XMR per block;
- Homepage; https://www.getmonero.org/
- Mining Tutorial; https://web.getmonero.org/get-started/mining/
PegNet
PegNet is a platform designed for users to be able to “peg” their real-world assets against an equivalent asset on the PegNet network. It functions a decentralized exchange in which users can frictionlessly convert their assets without having to manage the actual asset itself.
Built on the Factom network, the non-custodial network of tokens pegged to different currencies allows for trading to occur at fractions of a cent with no middleman.
Mining Specs;
-Algorithm; LXRHash
-Hashing Function; LXRHash
-Mining Reward; 5000 PEG per block;
- Homepage; https://pegnet.org/
- Mining Tutorial; https://github.com/pegnet/pegnet/wiki/Mining
Electroneum
Electroneum is a blockchain-based payments platform that is focused on the mobile payments industry. The project implements KTC and AML processes, making it compliant to laws and regulations.
The team has recently released an $80 smartphone that rewards users in the cryptocurrency and they have even released a mining app that allows users to mine Electroneum via their mobile phones.
Mining Specs;
-Algorithm; CryptoNight
-Hashing Function; BLAKE-256, Groestl-256, HJ-256, and Skein-256
-Mining Reward; 1.25 million ETN per block;
- Homepage; https://electroneum.com/
- Mining Tutorial; https://electroneum.com/features/mobile-mining-cloud-mining/
Ravencoin
Ravencoin is a platform that allows the transfer of real-world assets between users. Forked from Bitcoin, Ravencoin uses 16 different mining algorithms to prevent mining centralization of ASICs. It also differs from Bitcoin as it has a 1 minute block time, rather than the 10 minute Bitcoin block time.
To create an asset on the network, users must burn some RVN tokens.
Mining Specs;
-Algorithm; X16Rv2
-Hashing Function; 16 different functions (can be found here).
-Mining Reward; 5000 PEG per block;
- Homepage; https://ravencoin.org/
- Mining Tutorial; https://ravencoin.org/pools/
