Next month an Ethereum merge is expected, better known as ETH 2 or ETH 2.0 and Ethereum will migrate from Proof of Work to Proof of Stake Beacon Chain for good. It means it will no longer be available for mining. However, the best chance is staking at least 32 Eths and becoming a validator which is way more expensive if you want to be attached to Ethereum anyhow. In this post we have mentioned some of the cryptocurrencies that you can mine after Ethereum merge or ETH2.
Cryptocurrencies to Mine After Ethereum Merge or ETH2
So if you are a constant miner this is not the end of everything if ETH moves to Proof of Stake. You will find many good paying Proof of Work cryptocurrency projects to mine with your mining rigs. We are going to discuss Ergo (ERG), Flux(FLUX) and Ravencoin.
If you are mining with Kryptex or NiceHash after the ETH 2.0 mining will still be very profitable for you. The miners can mine any of these cryptocurrencies directing their Ethereum PoW hashpower to them and get paid in BTC after every 4 hours. They even would not require to maintain different wallets or exchange coins as the payments will be made in Bitcoin already. On the other hand, if you find lower hashpower for a specific coin than the other, you will get paid equally for both. So no worries about that either.
Ergo – ERG Coin
Ergo or ERG is another great project to mine after the Ethereum merge. It’s one of the torch bearers for Web 3 development. It supports creation of smart contracts and provides means for implementing the smart contracts. The developers through these smart contracts can get support from Ergo for developing a number of dApps.
There is a fixed ERG coin supply of 100 million ERG and the block reward is bound to decrease unlike major cryptocurrencies after the first 2 years of its existence. There is also a cap of 8 years for block rewards to fall from 75 ERG to 0 ERG. When it reaches that 0 reward, the fixed supply will be met as well.
Autolykos v2.0 is the Proof of Work algorithm of Ergo to mine ERG. Its power consumption is almost same that of DaggerHashimoto’s (Ethash) as you will be combining powers and mining in pools unlike the previous coins which discouraged pool mining.
Many experts believe ERGO is the only cryptocurrency that can replace Ethereum. Hence after ETH 2.0 it can prove to be the most profitable coin to mine. Once Ethereum moves to Proof of Stake and the merge finalizes, which is expected in September according to the Ethereum Blog, ERGO is the go to coin for miners to direct their hashpower to.
RavenCoin Algorithm Upgrades
In order to keep itself safe from ASICs and FPGAs, its algorithm has undergone two major changes and current algorithm KawPow is based on ProgPow and is very resistant against ASICs. So if someone tries to mine it through ASICs it’s not going to be easy and the community consistently works to give tough competition to these systems.
The miners can mine RavenCoin with its KawPow algorithm either directly into a pool or using a miner like NiceHash and Kryptex. If the miner uses a miner instead of directly mining into a pool he will get paid in Bitcoin after every 4 hours. We mentioned steps below to overclock your GPU for KawPow:
Before doing anything the miners should keep in mind that KawPow consumes a lot of power. It can damage your rigs or power cables. So its power needs to be checked properly. The miners should join social channels of respective miners they are using. For instance if they are using NiceHash they should join their Discord or if they are using Kryptex connect with them as well. These damages were due to improperly powering rigs so it’s important to power your rigs the right way.
The other very prominent feature of Raven being ASIC resistant is its Assets. You will be surprised to know that Raven had implemented NFTs much before they became popular. Its Assets are much superior to mere NFT images of the Ethereum network. NiceHash had a detailed podcast discussion with its developer Tron Black you can catch up everything in this video below.
Flux – FLUX Coin
FLUX is a very interesting cryptocurrency to look forward to. Although it is very new as compared to others in this list. FLUX aims at facilitating Web 3.0 adoption and working to make cloud infrastructure work for everyone. Once its primary goals are met with success the users will be able to host a variety of apps across the Flux nodes. It will open tons of opportunities for game hosting and other similar ventures.
It’s algorithm ZelHash which can be mined with NiceHash as well. It equals Equihash so you will sometimes notice it is named as Equihash 125_4. The miners can mine Flux with their GPUs. But some ASIC miners can also mine it. Its community is very resistant to ASIC and aims at forking a new algorithm if that be needed to stand against ASICs.
We all know how censorship takes away the power of free speech from people. This FLUX project is solely working to get decentralized hosting accessible to everyone. Its usability is way more effective than other projects of its kind. If Web 3 is the future, FLUX is going to prove its main horses to wheel it.
As the final notes, we assure you that the world does not end if Ethereum mining ceases to exist which would after its Merge. We have mentioned potential profiteering PoW projects like Ergo, RavenCoin and Flux.