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Data shows that a myriad of crypto networks are more profitable than Bitcoin

As the end of the year approaches, digital currency values have risen a great deal in 2021 and crypto asset miners have been profiting as a result. According to statistics, the most profitable coin to mine at the end of November is kadena, as an 18 terahash (TH/s) machine can get up to $326 per day. Scrypt coins are the second most profitable these days with up to $110 per day and Ethash miners can make up to $105 per day.

Kadena, Scrypt, Ethash, and Eaglesong Mining Far More Profitable Than SHA256 Mining

Close to 13 years ago when Bitcoin first launched, the cryptocurrency could be mined with a central processing unit (CPU). This means that anyone with a decent computer at the time could mine and find bitcoin (BTC) block rewards. People began to use devices with special electronic circuits, called graphics processing units (GPUs), after this phase.

Today, bitcoin miners utilize application-specific integrated circuit (ASIC) devices to mine BTC. Bitcoin mining rigs dedicate processing power to the SHA256 algorithm and this means a bitcoin ASIC mining device cannot mine coins like ethereum, litecoin, or kadena.

These networks use different consensus algorithms, and there are a number of machines that can be used to mine crypto asset networks using specific consensus algorithms. SHA256 is a consensus algorithm used by Bitcoin, but SHA256 miners can also mine coins like bitcoin cash (BCH), bitcoinsv (BSV), peercoin (PPC), and unbreakable (UNB).

SHA256 cryptocurrencies are the fifth most profitable to mine at the end of November 2021. Kadena and Scrypt are the top four most profitable algorithms for mining consensus today.

A Kadena-based ASIC miner can get up to $326 per day with 18 TH/s at $0. 12 per kilowatt hour (kWh), according to asicminervalue.com stats. A Scrypt-based miner with 9.5 gigahash per second (GH/s) can get $110 per day with the same electrical costs.

750 megahash per second (MH/s) ASIC machines mining the algorithm Ethash (ethereum, ethereum classic, pirl) can get up to $52 per day. Eaglesong-based mining rigs that mine nervos (CKB) can get $45 per day with 12 TH/s.

Next-Generation Mining Rigs for Ethash and SHA256 Are on the Horizon

There are also consensus algorithms such as Blake2bsia, X11, Blake256R14, and Equihash. Blake2bsia compatible mining rigs mine sia (SIA) and handshake (HNS), while X11 compatible rigs mine dash (DASH) and cannabiscoin (CANN). Blake256R14 mines decred (DCR) while Equihash-based machines can mine zcash (ZEC), hush (HUSH), and zencash (ZEN).

SHA256 miners mining bitcoin (BTC) with around 100 TH/s at $0. 12 per kWh, can get up to $27 per day mining. The top bitcoin miners process at speeds up to 100 TH/s but SHA256 miners with at least 11.5 TH/s can turn a small profit. A number of next-generation mining machines are expected to be launched in the coming months.

Upcoming mining rig releases that pack a lot more hashpower will be dedicated to consensus algorithms like Ethash and SHA256, according to a few prior announcements. For instance, in July 2022, Bitmain is expected to release the Antminer S19 XP (140 TH/s) and Innosilicon’s A11 Pro ETH (2,000 MH/s) is reportedly coming soon as well.

What do you think about the top consensus algorithms today and the profits these networks can obtain? Please comment below to let us know your thoughts on this topic.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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Ripple CEO believes crypto market could reach $5 trillion by year end – Here are top 3 picks that might help position you for gains

Ripple CEO is claiming the crypto market could reach $5 trillion by the end of 2024. Investors are looking for better opportunities to invest and gain lucrative profits if that happens. According to some analysts, Solana (SOL), Sui (SUI), and Borroe Finance ($ROE) could be some of the best altcoins to include in investment portfolios.…


  • Ripple CEO is claiming the crypto market could reach $5 trillion by the end of 2024.
  • Investors are looking for better opportunities to invest and gain lucrative profits if that happens.
  • According to some analysts, Solana (SOL), Sui (SUI), and Borroe Finance ($ROE) could be some of the best altcoins to include in investment portfolios.

Ripple CEO, Brad Garlinghouse, is bullish on the crypto market, predicting that the crypto market cap could double and reach around $5 trillion by the end of 2024.

Garlinghouse believes spot ETF approval and the Bitcoin halving event will fuel this prediction. But he also emphasized the crucial impact of favorable U.S. regulatory changes on the crypto market’s growth.

The crypto community is understandably excited about this market prediction, with investors and analysts digging into the numbers to determine which tokens could be the best bets to capitalize on this growth. A growing number of experts believe SOL, SUI and $ROE could be some of the top crypto coins to consider adding to your portfolio ahead of this market expansion. Let’s take a look at their reasoning.

Solana validators approve ‘Timely Vote Credits’

Solana validators have agreed on a “Timely Vote Credits” plan, which speeds up transactions. It does so by modifying the consensus vote latency. The proposal was passed on April 8 with 98% votes.

Besides, SOL was trading around $172 in the second week of April with minor fluctuations. Experts say it is near the crucial support level of $170. If it breaks down from here then, SOL might trade around $160 by mid-2024.

However, if SOL manages to stay above $172, then it could head towards $190 and eventually to $200. If the bullish momentum persists then SOL could trade around $250 by the end of 2024.

Is SUI ready to take off?

SUI has risen by 290% in the past year, from a low of $0.37 in October to its current price of $1.46. In mid-April, Sui was trading around $1.57 with the crypto market cap of $2 billion. SUI has been fluctuating between $1.35 and $2.15 in the past month.

Experts say SUI is in a downtrend now, with the support at $1.55. If it breaks below this support zone, then SUI could trade around $1.30 by mid-2024.

Still, many analysts are optimistic about SUI’s growth potential, with some indicating that if it breaks above the resistance level of $1.70, then it will move towards $1.80. By the end of 2024, SUI has the potential to trade around $2.50, according to a number of forecasts.

Borroe Finance presale is on fire

Borroe Finance is attracting investors in its final stage of the presale. They raised over $3.66 million by selling over 282 million $ROE tokens. In Stage 5, $ROE is priced at $0.02 per token, and it will be listed at a price of $0.025 across several exchanges.

This will generate 25% profit for new investors. In addition, current investors are also enjoying a 15% bonus when they use a promo code (“WELCOME”), but data suggests there are now only 153 million $ROE tokens left to be sold.

Borroe Finance aims to revolutionize Web3 business funding through blockchain, AI-powered risk assessments, and smart contracts. It offers quicker access to capital by allowing businesses to mint and sell NFTs. These NFTs represent their future revenue.

$ROE utilizes the Polygon blockchain for its efficiency and low fees. The team is experienced and always brings their best to the table. Some crypto analysts are predicting that Borroe Finance could be the best blockchain ICO in the market right now, which is why many investors are deciding to HODL $ROE tokens.

Learn more about Borroe Finance ($ROE) here:


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Dogecoin eyes $1 mark, Monero and Chainlink’s competitor attracts top-tier investors

We have seen all sorts of events happening in the crypto world, where some of the best meme coins can capture a huge chunk of the market while fundamentally strong projects remain in the shadows.  DOGE, with massive community backing, is an example of how hype can impact the price of a token. Some traders…


We have seen all sorts of events happening in the crypto world, where some of the best meme coins can capture a huge chunk of the market while fundamentally strong projects remain in the shadows. 

DOGE, with massive community backing, is an example of how hype can impact the price of a token. Some traders are already seeing it touch the $1 mark sooner than later, but that will depend on multiple factors. While we see how it goes, a new ICO, InQubeta, is competing with the likes of Chainlink and Monero.

Will Dogecoin touch the $1 mark?

Dogecoin has made quite the splash recently, riding the wave of meme culture straight into the hearts of a diverse crowd. It’s not just the seasoned crypto heads getting in on the action but also those looking for a fun entry point into the world of digital money. Dogecoin stands out, not so much for its tech or financial chops, but for its vibe: it’s all about community.

Yet, hitting that $1 dream is tricky. Detractors often say Dogecoin’s more about hype than substance, lacking the solid foundation other top crypto coins have. But DOGE believers see a different picture: its acceptance by more and more merchants and its die-hard community could mean Dogecoin’s joke could have the last laugh, making it a serious player in the crypto game. 

As Dogecoin starts popping up more in everyday transactions and online shops start accepting it, it’s beginning to shake off its meme coin image, hinting that its cultural clout could indeed cement its place in the crypto world with real, lasting value.

InQubeta: A new vanguard in AI crypto investment

While Dogecoin captures headlines with its rollercoaster market antics, a new name, InQubeta, is quietly turning heads among savvy investors. Positioned as a serious rival to crypto veterans like Monero and Chainlink, InQubeta stands out by weaving the untapped potential of AI into the fabric of crypto investments.

InQubeta is on a mission to simplify access to the once-gated world of AI startups, offering a golden ticket to the average investor through its innovative QUBE tokens. This platform is changing the game by allowing anyone to grab a piece of the AI pie, previously a feast for the Silicon Valley bigwigs only.

By making fractional investment a thing of reality, InQubeta is breaking open the door that has always kept retail on the sidelines.

The real kicker? InQubeta utilizes NFTs to offer shares in these AI companies, making investment outcomes transparent and directly related to their success. This not only enriches the investment landscape but also weaves a closer bond between investors and the tech pioneers driving these projects.

InQubeta’s vision doesn’t stop there. With a roadmap that dreams big – launching an NFT marketplace, rolling out the InQubeta swap, and firing up a decentralized autonomous organization (DAO) – it’s clear they’re leading the march towards a future where AI and blockchain not just meet but meld in exciting ways.

Backed by a thorough audit and a presale buzz that’s already drawing in the millions, InQubeta’s journey towards cross-chain expansion in 2024 is not just promising; it’s practically in motion.

Conclusion

As Dogecoin dances its way towards the coveted $1 mark, fueled by a lively community and its irresistible meme magic, InQubeta is carving out its own place in the crypto world with something totally different. Very few initiatives are targeted towards making the investment game easy for average investors with small capital.

However, with InQubeta, one can expect to be a part of a circle where the big investors take a chance. But as always, doing your homework is essential before deciding on the best crypto investments.

Visit InQubeta Presale 

 Join The InQubeta Communities


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Bitcoin Technical Analysis: BTC Encounters Strong Resistance, Enters Consolidation Mode

As of May 22, 2024, bitcoin is trading at $69,952, navigating a recent intraday range of $69,211 to $71,422. Despite a tumultuous period, bitcoin has shown resilience with an 11.9% increase over the past week and a 5.9% rise over the past month. Bitcoin Bitcoin’s 1-hour chart reveals a significant decline from a peak of [……
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