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How to make a cryptocurrency asic resistant

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The most popular ASIC miners for Ethereum are: Bitmain Antminer E9: This miner has a hash rate of up to 2.4 GH/s and consumes 1920 watts of power. It is the most powerful Ethereum ASIC miner available. Innosilicon A10 Pro: This miner has a hash rate of up to 500 MH/s and consumes 750 watts of power.

Why is Ethereum ASIC-resistant?

Ethereum employs the Ethash Proof-of-Work (PoW) mining algorithm, which is designed to be ASIC-resistant, ensuring a more decentralized mining process. The memory-intensive nature of Ethash makes it difficult for ASICs to gain a significant advantage over general-purpose hardware, such as GPUs.

Why are ASIC miners bad?

Because they are frequently loud, they are difficult to operate. Unless you utilize water cooling, which is a technical difficulty in and of itself, they require a lot of electricity and generate a lot of heat. ASICs must be continuously checked to ensure that they are hashing.

Which cryptos are ASIC-resistant?

Examples of ASIC-resistant cryptocurrencies include:
  • Ethereum (ETH) Ethereum is one of the cryptocurrencies designed to discourage ASIC mining.
  • Monero (XMR) Another popular blockchain network among miners is Monero.
  • Safex Cash (SFX)
  • Ravencoin (RVN)
  • Haven Protocol (XHV)
  • Ethereum Classic (ETC)

How much does 1 ASIC miner make?

The amount of money you can make with an ASIC miner for cryptocurrency, like Bitcoin, will depend on a number of factors. These include the price of Bitcoin, the difficulty of mining, and the cost of electricity. However, on average, most ASIC miners will generate a profit of between $10 and $100 per day.

What is ASIC resistant cryptocurrency?

In the world of cryptocurrencies, the term "ASIC Resistance" is used to describe cryptocurrencies that are relatively less sensitive to mining activities carried out by ASIC miners. These types of cryptocurrencies have unique mining algorithms and protocols.

What coin can be mined with ASIC?

Bitcoin ASICs are mostly used for mining Bitcoin and some other popular coins that use the same algorithm (such as Bitcoin Cash or Litecoin). GPUs (Graphics Processing Units) are general-purpose devices that are used for rendering graphics on computers or gaming consoles.

Frequently Asked Questions

Which mining algorithm is ASIC resistant?

An ASIC-resistant cryptocurrency has its protocol and mining algorithm configured in such a way that using ASIC machines to mine the coin is either impossible or brings no significant benefit when compared to traditional GPU mining.

Can Ethereum be mined with ASICs?

Ethereum is ASIC resistant because the network uses the Keccak-256 hashing algorithm that rejects hashes from ASIC machines. This algorithm is engineered to generate only hashes for mining purposes and does not serve any other computing function.

Why GPU mining is better than ASIC?

The main difference between GPU and ASIC is that of a card and chip. An ASIC miner uses a chip to solve complex algorithms, while in a GPU, a graphics card is used for mining cryptos. The main advantage of GPU mining hardware is easy availability. Also, GPUs are more flexible in their application than ASICs.

Which coins to mine with ASIC?

ASICs are mostly used for mining Bitcoin and some other popular coins that use the same algorithm (such as Bitcoin Cash or Litecoin). GPUs (Graphics Processing Units) are general-purpose devices that are used for rendering graphics on computers or gaming consoles.

What can be mined with ASIC?

Cryptocurrency mining An ASIC (Application-Specific Integrated Circuit) is a specialized hardware device, designed to perform a specific task. In cryptocurrency mining, these devices are built for specific cryptographic algorithms, ensuring they can mine corresponding cryptocurrencies with unmatched speed and efficiency.

Which crypto is most profitable to mine?

The Best Crypto to Mine in 2023
  1. Bitcoin (BTC) Current Mining Reward: 6.25 BTC/block.
  2. Monero (XMR) Current Mining Reward: 0.6 XMR/block.
  3. Litecoin (LTC) Current Mining Reward: 12.5 LTC/block.
  4. Ravencoin (RVN) Current Mining Reward: 2500 RVN/block.
  5. Zcash (ZEC)
  6. Dogecoin (DOGE)
  7. Dash (DASH)
  8. Grin (GRIN)

FAQ

Are any ASIC miners profitable?
Popular ASIC Miners and Their Profitability Bitmain Antminer KS3: With a hashrate of 9.4 Th/s and power consumption of 3550W, this miner can potentially generate about $155.88 per day. Iceriver KS3: This miner has a hashrate of 8.0 Th/s and consumes 3200W power, potentially generating around $132.24 per day.
Which cryptos are ASIC resistant?
Examples of ASIC-resistant cryptocurrencies include:
  • Ethereum (ETH) Ethereum is one of the cryptocurrencies designed to discourage ASIC mining.
  • Monero (XMR) Another popular blockchain network among miners is Monero.
  • Safex Cash (SFX)
  • Ravencoin (RVN)
  • Haven Protocol (XHV)
  • Ethereum Classic (ETC)
What coins are best to mine with ASICs?
What Coins Are Best To Mine With ASICs? Coins best suited for ASIC mining are those that use mining algorithms optimized for specialized hardware. Some popular cryptocurrencies that are efficiently mined using ASICs include Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Dash (DASH).
Is Ravencoin ASIC resistant?
Tip to Mine Ravencoin Efficiently for Greater Profits Ravencoin's ASIC-resistant algorithm makes it easier for anyone with a decent amount of hashrate to mine RVN using GPU miners.
What is the strongest ASIC?
1. Bitmain Antminer S19 XP. Unique Feature: Most powerful air-cooled Bitcoin mining ASIC.
What is the best ASIC for mining crypto?
Here are some of the best ASIC miners on the market in 2023: Bitmain AntMiner S19 Pro – A relatively cheap option for those just starting out with BTC mining. MicroBT Whatsminer M30S++ – An older but still very popular ASIC miner. Bitmain Antminer S19 XP Hyd – The most powerful (and expensive) ASIC machine.

How to make a cryptocurrency asic resistant

What can ASIC miners mine? Cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Dash (DASH) are commonly mined using ASIC mining machines. ASICs are specifically designed for mining these coins due to their optimization for specialized hardware.
Can ASIC mine Ethereum? The most popular ASIC miners for Ethereum are: Bitmain Antminer E9: This miner has a hash rate of up to 2.4 GH/s and consumes 1920 watts of power. It is the most powerful Ethereum ASIC miner available.
Which ASIC miner has the highest Hashrate? Bitmain Antminer S19 XP Hyd – The most powerful (and expensive) ASIC machine. The Bitmain Antminer S19 XP Hyd is the most powerful ASIC miner on the market. It has a hash rate of 255 TH/s, and a power consumption of 5,346 W. This makes it an ideal choice for miners who want to maximize their profits.
What coins are ASIC resistant? Examples of ASIC-resistant cryptocurrencies include:
  • Ethereum (ETH) Ethereum is one of the cryptocurrencies designed to discourage ASIC mining.
  • Monero (XMR) Another popular blockchain network among miners is Monero.
  • Safex Cash (SFX)
  • Ravencoin (RVN)
  • Haven Protocol (XHV)
  • Ethereum Classic (ETC)
Can ASIC miners mine Ethereum? The Challenges of ASIC Miners They are very effective as a consequence, and they can mine Ethereum far more quickly than any other kind of miner. Because it gives one company or set of entities power over the network, this poses a challenge for the Eth community.
Why is Ethereum so unstable? Decentralization: Ethereum had one big flaw. It was created to be a decentralized platform, but it has some of its nodes controlled by centralized groups, which can lead to serious security issues. Unstable: Since it is a relatively new technology, Ethereum has suffered from several outages and hacks.
  • Can Bitcoin ASICs be used for anything else?
    • Because ASICs can be extremely efficient, they are limited to a single-use case, rendering them useless for anything else. Furthermore, new ASIC models emerge as technology progresses in the cryptocurrency field, swiftly rendering previous designs unprofitable.
  • What is an ASIC usually used for in cryptocurrency?
    • ASIC, or Application-Specific Integrated Circuit, is hardware meticulously engineered to perform specific computational tasks, which in the context of cryptocurrency, is typically mining. ASIC miners are designed to execute specific hashing algorithms, resulting in greater mining efficiency and profitability.
  • Which crypto currency is ASIC resistant?
    • ASIC-resistant cryptocurrencies provide a fair distribution to participants in the network by using ordinary computers, as no one can mine above a certain hash power. This ensures a balanced distribution, while also preserving the decentralization of the blockchain network.
  • Can a ASIC miner mine anything?
    • Unlike the general-purpose CPUs and GPUs of the past, ASICs are meticulously designed for a singular purpose: to mine specific cryptocurrencies with precision. Their emergence has not only accelerated the mining process but has also raised the stakes in the competitive world of crypto mining.
  • How to make a cryptocurrency asic resistant
    • ASIC-resistant is the property of a cryptocurrency that is “immune” to ASIC mining. ASICs are integrated circuits that are created to serve a specific use case,