We introduced the mainstream currencies in the current cryptocurrency market previously. Now let’s take a look at some of the emerging cryptocurrencies that can be mined. Yes, it is time to consider expanding your mining business.
GIN
GINcoin, referred to as GIN, whose genesis post was released on bitcointalk.org in February 2018. GINcoin aims to provide cryptocurrency investors with an easy way to create and deploy their own MasterNode. Meanwhile, GIN is also a “MasterNode” which can harvest the block rewards by creating the master node, that is, PoS (Proof-of-Service).
GIN hopes to simplify the creation of MasterNode with the goal of democratization for the creation of masternodes and proving cryptocurrencies are valuable because they are easier to use than banknotes.
The GIN’s block time is 2 minutes with 20GIN of block rewards, which is halved each year; the masternodes reward is 50% of each block. The total amount is 10.5 million GIN and about 2.72 million have been mined up to now.
GIN summary:
| Coin | GIN |
| Homepage | gincoin.io |
| Mining Algorithm | Lyra2Z |
| Mainstream Miner | GPU miner |
| Exchange | Crypto-Bridge etc. |
MONA
MonaCoin, referred to as MONA, was born in Japan in December 2013. It was designed based on the cartoon image “Mona” and it’s also the first cryptocurrency in Japan. The Mona community is the most active cryptocurrency community in Japan.
MONA adopts the Lyra2REv2 algorithm to mine with GPU miners, and it supports Nvidia and AMD in both Windows and Linux systems. And there are also ASIC mining machines that support MONA mining, such as the ZigMiner Z1 Pro and the FusionSilicon X1.
The block time of MONA is 1.5 minutes with 25Mona of block rewards. The total amount is 105.12 million and the halving time is 105100z0 blocks.
MONA summary:
| Coin | MONA |
| Homepage | monacoin.org |
| Mining Algorithm | Lyra2REv2 |
| Mainstream Miner | GPU miner, ASIC miner(ZigMiner Z1 Pro, FusionSilicon X1). |
| Exchange | Zaif, Upbit, Bittrex, QBTC, LiveCoin etc. |
GRV
Gravium, referred to as GRV, is a kind of community-driven cryptocurrency that ensures decentralization by endowing authority to individuals and designs for daily business and personal transactions.
GRV adopts the X16r algorithm to conduct mining with GPU miners and it supports Nvidia and AMD in both Windows and Linux systems.
GRV summary:
| Coin | GRV |
| Homepage | gravelcoin.com |
| Mining Algorithm | X16r |
| Mainstream Miner | GPU miner |
| Exchange | CryptoBridge etc. |
ZCL
As one of the anonymous cryptocurrencies, ZCash’s financing method has been controversial for long. In order to maintain the normal operation of the project, the ZCash team stipulated that 20% of the coins mined in the first four years would be shared by the team. It’s unfair to the mining workers, so the workers split a ZClassic from ZCash, abbreviated as: ZCL.
As a branch of ZEC, the total number of ZCL was also set to 21 million with the same algorithm of Equihash. Currently, the GPU miners and ASIC miners (Antminer Z11, Innosilicon A9 etc.) can be used for mining.
ZCL summary:
| Coin | ZCL |
| Homepage | zclassic.org |
| Mining Algorithm | Equihash |
| Mainstream Miner | GPU miner, ASIC Miner(Antminer Z11, Innosilicon A9 etc.) |
| Exchange | CoinExchange, Bittrex etc. |
ZEN
ZClassic gave all the mining benefits to the mining workers. However, a problem appeared as a result. The project development demanded funds; however, all the funds could only come from the contribution of the community. So the development progress of ZClassic was not so satisfactory.
In the end, three former US government military personnel split a more perfect version from ZClassic: ZenCash, the world’s first private, distributed and reliable anonymous cryptocurrency. ZenCash provides private communications and anonymous content distribution as well as other functions.
ZenCash was split from ZClassic on May 30, 2017 and its developer came from ZClassic. Among the ZClassic developers, some believed that they could not only eliminate the controversial two aspects of ZCash (20% reward and slow start), but also actually add some excellent features of other cryptocurrencies based on Zclassic: for example, DAO (Dash’s Decentralized Anonymous Organization) and Decred’s self-voting consensus mechanism.
Just like ZCL, the total number of ZEN is also 21 million with the Equihash algorithm and the GPU miners and ASIC miners(Antminer Z11, Innosilicon A9 etc.) can be used for mining currently. At present, 4.51 million have been mined and the block time is 2.5 minutes with 12.5ZEN reward for each block, 70% for PoW workers, 10% for the team, 10% for the security nodes and 10% for the super nodes.
ZEN summary:
| Coin | ZEN |
| Homepage | horizen.global |
| Mining Algorithm | Equihash |
| Mainstream Miner | GPU miner, ASIC Miner(Antminer Z11, Innosilicon A9 etc.) |
| Exchange | Upbit, OKEX, Binance, Bittrex etc. |
ETN
ETN, referred to as Electroroneum, is the first cryptocurrency in UK. Electroneum focuses on the development of an encrypted offline wallet supporting PC, iOS and Android systems, which can perfectly encrypt all the transaction records.
At present, ETN can be mined by CPU miners, GPU miners (Nvidia and AMD in both Windows and Linux systems) and some ASIC miners (Baikal N/N+, Antminer X3 and other ASIC miners supporting CryptoNight algorithm).
However, the hashrate of ASIC miners has exceeded that of the CPU miners and GPU miners by hundreds or even thousands of times. The revenue of GPU mining is not very ideal, so it is recommended to adopt AISC miners before the adjustment of ETN algorithm.
ETN summary:
| Coin | ETN |
| Homepage | electroneum.com |
| Mining Algorithm | CryptoNight |
| Mainstream Miner | GPU miner, ASIC Miner(Baikal N/N+, Antminer X3 etc.) |
| Exchange | Kucoin, Qryptos, Bitalong, CoinBene etc. |
BTM
Bytom or BTM, is a blockchain interaction protocol for a variety of bit assets, and different types of assets running on BTM (revenue rights, unlisted shares, claims, cryptocurrency, etc.) can be exchanged, VAM and complexity interaction based on smart contracts by means of the protocol.
BTM adopts the Tensority algorithm and ASIC miners (Antminer B3, Antminer B7) can be used for mining currently. However, it is recommended to use a GPU miner for the reasons everyone has known.
BTM summary:
| Coin | BTM |
| Homepage | bytom.io |
| Mining Algorithm | Tensority |
| Mainstream Miner | GPU miner, ASIC Miner(Antminer B3, Antminer B7) |
| Exchange | OKEX, Bibox, Huobi, JEX etc. |
XVG
Verge, referred to as XVG, is an open source cryptocurrency based on bitcoin technology. It was originally launched in 2014. Due to the fast-growing community, the currency became popular very rapidly.
Verge offers all aspects of advantages to attract users all around the world.
- Multi-algorithm coin. Verge users can mine coins by five different algorithms. The block time is only 30 seconds and the rewards are recalculated based on the total amount of blocks generated.
- Safety. It adopts the latest encryption technology which is regularly updated by the developers. Verge can ensure the security of your coins.
- Privacy. Verge focuses on the privacy of its users. Users who use Verge as payments know that they are anonymous with hidden personal data.
- Fast and easy payment. Memory blockchain technology allows very fast transactions to be processed globally. To spend the cryptocurrency, only the wallet software needs to be installed for application on all major platforms.
- Low transaction fee. Since there is no central authority over the currency, the transaction fee is very small or even zero!
All in all, Verge has been proven to be a reliable, secure, inexpensive and fast-growing payment solution for developing communities. Verge has just offered a new way of currency transfer —- convenient and cheap.
XVG summary:
| Coin | XVG |
| Homepage | vergecurrency.com |
| Mining Algorithm | blake2s, scrypt, X17, lyra, groestl, VergeCurrency |
| Mainstream Miner | GPU miner |
| Exchange | Huobi, OKEX, Binance, Bittrex, FEX etc. |
PASC
Pascal Coin was officially released by Albert Molina in July 2016.
As a kind of innovative cryptocurrency, PascalCoin was written in Pascal from the very beginning without ICO and pre-mining, so it is a highly decentralized community with completely fair mining. Its members are scattered all over the world.
It can realize everything by creating new encrypted data structure called SafeBox, which allows the blockchain to be deleted while maintaining complete record retention and full encryption security.
It has achieved unlimited scalability as the first cryptocurrency to solve such a major disadvantage. With constant throughput and the indefinite operation capability, the entire blocks are always restricted within 5.4GB. With reliable and instant 0 confirmation transactions, the users will never worry about the risks of double spending.
It’s also faster and safer than lightning network. The account name and type support short digital account address and allows the user to pay directly by alias such as the name or email.
PASC summary:
| Coin | PASC |
| Homepage | pascalcoin.org |
| Mining Algorithm | SHA2- 256D |
| Mainstream Miner | GPU miner, ASIC miner(Baikal Giant-B) |
| Exchange | QBTC, Poloniex etc. |
RVN
Ravencoin, referred to as RVN, is a kind of experimental cryptocurrency which can be instantly paid to anyone anywhere in the world.
With the peer-to-peer technology, Raven can run without central management authority: transaction management and funds issuing are jointly conducted on the network. Raven Core is the name of the open source software which can accept such cryptocurrency.
Ravencoin is a digital peer-to-peer network designed to use a specific blockchain to efficiently handle a specific function: transfer assets from one party to another.
Based on the branch of bitcoin code, Ravencoin was released on January 3, 2018 as a true open source project (no ICO or masternode). It focuses on building a useful technology and creating a strong and growing community.
RVN summary:
| Coin | RVN |
| Homepage | ravencoin.org |
| Mining Algorithm | X16R |
| Mainstream Miner | GPU miner |
| Exchange | Bittrex, Upbit, QBTC, BBX etc. |
XDAG
Dagger, referred to as XDAG, is a new generation 3.0 public chain based on directed acyclic graph (DAG) infrastructure and it’s the only DAG+POW mineable project now(refer to: Is XDAG the Next Dark Horse?). It’s not only featured with high concurrency but also the solution of triangular contradiction in current blockchains.
Dagger is a part of new generation of distributed ledger project and each block contains a transaction, so the block is also an address. The transactions can be confirmed very fast with wide range of application. So, TPS should be infinite theoretically.
Without project parties, ICO and pre-mining, XDAG is jointly organized and developed by community consensus enthusiasts from all around the world for the sake of real decentralization, efficiency, security, fairness and justice.
More details about XDAG: Dagger (XDAG) on blockspot.io
XDAG summary:
| Coin | XDAG |
| Homepage | xdag.io |
| Mining Algorithm | Semisymmetric |
| Mainstream Miner | GPU miner |
| Exchange | VBITEX, BBX etc. |
Appendix
Series articles on cryptocurrency introduction and analysis at EastShore:
- What Are People Arguing Against and for Bitcoin? | EastShore Mining Devices
- With the upcoming Litecoin Halving, Will Litecoin Maintain Its Status? | EastShore Mining Devices
- Where are the Mainstream Cryptocurrencies Heading to? | EastShore Mining Devices
- What’s the Charm of DASH? | EastShore Mining Devices
- The Untraceable Private Crypto Currency Monero | EastShore Mining Devices
- What’s Going on with DAG? | EastShore Mining Devices
- Is XDAG the Next Dark Horse? | EastShore Mining Devices
- Introduction of New Cryptocurrency Grin and Beam Based on MimbleWimble | EastShore Mining Devices
- Emerging New Cryptocurrencies | EastShore Mining Devices
- What will Facebook’s Libra bring to the world? | EastShore Mining Devices
- Observation and Reflection on Application of Private Currency | EastShore Mining Devices
- Introduction to Technical Framework and Applications of IPFS | EastShore Mining Devices
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