What Coins Can Ordinary Computer CPUs Mine (Coins That Can Be Mined Using CPUs)

08/17/2023 02:19 • NFT Newsflash • 101 views

According to data from Coinmarketcap, there are currently two types of CPUs available on the market for mining: Bitcoin mining machines and Ethereum mining machines.

Can ordinary computer GPUs also mine coins? This article will briefly introduce ASIC chips for ordinary computers and computational encryption technology.

The principle of Bitcoin mining machines is to use the Proof-of-Work (PoW) consensus mechanism to protect digital currencies. In this case, due to vulnerabilities in the calculator, the risks of longer mining time and increased difficulty for mining blocks are increased. In addition, in order to improve system security, without affecting computer performance, its own advantageous resources can be utilized to mine other new coins.

Coins that can be mined using CPUs

Editor’s note: This article is from “Blockchain in Plain Language” (ID: hellobtc), author: Yang Shu, authorized reprint from Odaily Planet Daily.

Recently, the popular mining project is ProgPoW (Proof-of-Work). It is a protocol that uses CPU-based Proof-of-Work mechanism to perform calculations and transactions. It uses a method called “random number” to verify whether a block is included in the consensus, whether there are abnormalities in the network or other issues, and to obtain rewards through these events. This process is similar to the traditional “double spending”. However, one thing to note is that when the entire Bitcoin network can only process about 5 transactions per second, this method is no longer applicable. (Of course, some people will propose their own suggestions)

Another type is a new virtual currency developed based on Ethereum’s smart contracts, called “DApp”. Its appearance allows DeFi users to participate more conveniently in the DeFi world. For example, you can exchange tokens on DEX such as Uniswap and Balancer. Then you can transfer ETH to Compound or Curve exchanges, or deposit ETH into Uniswap’s liquidity pool and provide corresponding interest income (if it exists), and also profit from it. The advantage of doing this is that if your assets are not exhausted, it will not affect the security of user funds.

However, there is also an exception here: that is the governance system of AAVE, which is the only project that supports the governance system of AAVE. Aave is a completely open-source decentralized autonomous organization (DAO), whose main purpose is to solve various risks in DeFi. Its founder is also one of the well-known Bitcoin Core contributors, Brock Pierce. He also publicly stated that he was not the first public chain to adopt the DPoS model, but he believes that this is a very favorable choice for the future development of DeFi. He explained: “Although we are not worried about the large-scale growth of DeFi, I do think that with the upcoming upgrade of Ethereum 2.0 and the launch of ETH2.0, the lock-up value in the DeFi ecosystem may increase significantly.” In addition, he mentioned some of the most popular mining projects in the current market:

1) ProgPoW (Proof-of-Wallet): This allows users to simultaneously possess two types of computing resources: storage space and bandwidth (i.e. CPU), and memory (RAM) required to run specific applications. “ProgPow” has many advantages such as no gas fees, low cost and scalability, as well as immutable and maintenance-free security. “ProgPow” can achieve more efficient application than purely using GPUs. Moreover, as the use of CPUs is limited and more efficient, CPU consumption is still high.

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What Coins Can Ordinary Computer CPUs Mine (Coins That Can Be Mined Using CPUs)

Coins that can be mined using CPUs

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