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Bitcoin mining vs Ethereum

Farhan Malik

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Mining cryptocurrency is one of the common things most people adopt to earn a reasonable profit. Therefore, if you want to make a profit, you need to buy mining equipment( such as Antminer T19) to start the mining process. Selecting a wallet and a transection algorithm is the next step, referring to the types of coin for mining available in the market are bitcoin, bytecoin, and Ethereum. Comparing the way of mining and results are two different things for all these cryptocurrencies.

There are three types of cryptocurrency coins that are being mined throughout the world, where one of the most common is the bitcoin. The only difference is the mining of the Ethereum, where the miner mines the ether and sells it to the market. Talking in a logical way but here comes the interesting part which is securing the blocks of the secure network to claim the credit by selling them globally.

Taking the credit claiming into account procedure remains the same, i.e.: link the private key to your wallet and use any secure algorithm to make the transaction, the most secure one is the SHA-256 because of its fixed output bits after giving two arbitrary inputs.

Comparison:

Two of the most mined cryptocurrencies worldwide are bitcoin and Ethereum( You can use Innosilicon A10 Pro to mine Ethereum.) What makes them unique to mine? The first thing they are one of the oldest and hence are profitable. The second is the hardware because to mine any cryptocurrency we need almost the same hardware, so why don’t we choose the profitable one.

Considering hardware there are two types of a rig that can be used for mining, one is the GPU (graphical processing unit) based while the other is the ASIC (Application-specified integrated circuit) based system. It’s a myth or not a fact that GPU mining is the mining of Ethereum and using ant miners to mine is the mining of the bitcoin. Actually, we can mine any cryptocurrency by using any rig where GPU based or ASIC based. What makes the difference is price, profit, electricity consumption, and the life span of the rig.

The two most competitive cryptocurrencies in the market are one-bitcoin and the other is Ethereum, they are even not considered as rivals because of their different profits and different organizations (the inventor and the runner).

Comparing Bitcoin and Ethereum is not a clever thing but still can be compared because of their huge market share. Talking about the price of a bitcoin (BTC) according to days is $48000 and an Ethereum (ETC) is on the level of $1800 only. Here many miners and even the investors will change their mind but let us take the mining efficiency or in other words the profit receiving into account. A long-time investment in a bitcoin is a clever thing I would suggest you keep Ethereum beside you. On the other hand, getting instant profits from Ethereum is much easier because it is abundantly available, and less traffic makes the rig out of full load condition most of the time. Power consumption is not a comparing factor because they both use the same rig and consume the same electricity. For instant profits, bitcoin is not preferred because almost 70% is the coin is being mined.

Concluding the topic motivationally mining any coin needs patience and strategy. On the other hand, technically profit per day is the key goal for the miner both of them have their own pros and cons. One must choose according to his requirement.