Best Cryptocurrency To Mine In 2018

Cryptocurrency mining is the process of bringing new digital currency into circulation.In 2018, this means making the most of available resources to gain leverage in an expanding market.

Mining 101
Mining happens when miners’ use their processing powers to approve transactions. The process of recording and verifying transactions requires solving difficult mathematical equations. As a result, miners are rewarded for their hard work by getting predetermined amounts of new coins. Bitcoin was the first cryptocurrency to be introduced on the market in 2009 but along the way many other coins have come about such as Zcash, Etherum, Ripple, Monero and Litecoin.

Bitcoin has the largest market share but these other ones also feature some great and interesting features. The biggest allure of cryptocurrencies to many people is the freedom that they give compared to fiat currencies. With cryptocurrency there is no worrying about your money being frozen in the bank. Instead you don’t need a bank to save your wealth. You are your own bank with cryptocurrency. They also offer anonymity and ease of transactions unlike fiat currency.

Bitcoin is the biggest of them all and its rapidly growing.This has taken many people by surprise. Its price surged so quickly that it has brought about increases in transaction fees and reduced transaction speeds. However, it is still making headlines and attracting many people. That’s why Ethereum was looked down upon when it was introduced because it didn’t have a ready market like its more successful predecessor. Ethereum was created and has been called by many to be gold 2.0 because of the way it has stored value. Bitcoin has proven to be resilient but with increased costs of transactions people are beginning to look at all kinds of options.

Differences between Ethereum and Bitcoin
There are many finer differences between this two blockchain based currencies. Some differences are that Ethereum has a quicker, 12 seconds completion times for tasks, compared to Bitcoin’s 10 minutes. This has to do with the infrastructure and the underlying GHOST protocol. Faster block times mean that the confirmation process is quicker. Ethereum used a blockchain based platform that is decentralized which makes it easy to record, verify and enforce contracts. This provides greater security and puts off thieves and frauds.

Why Ethereum has better future prospects than Bitcoin

Ethereum is more than just a normal digital currency. It has many aspects and features that are different from other cryptocurrencies. It uses a blockchain platform that allows contract negotiations. The good thing is that it features a decentralized way to verify and approve contracts making it hard for one to be cheated or censored. The ethereum smart contracts also give miners and traders greater security. Ultimately, doing so helps to bring down transaction fees significantly. Here are more reasons why Ethereum is the best cryptocurrency to invest in in 2018.

You don’t need a crowdfunding site when you have Ethereum
Ethereum gives you a chance to raise funds for various causes or projects. You just need to create a contract and ask people to make pledges. Your money will be held until the goal is reached or until the agreed date. Contributors will get a refund if the goal is not reached or if the project fails. Ethereum helps you to do without Kickstarter or any other fundraiser that charges for their services which can take as much as 10% of the total contributions.

Ethereum is leading technological advancement in cryptocurrency

Ethereum is a forerunner in the technology world. This is especially true with planned upgrades and the addition of Proof-of-stake (POS) algorithms to its earlier proof-of-work (POW) setup. The change means that going forward you don’t need to mine Ethereum to accumulate them but rather you can stake your coins to multiply them. This will make it more profitable to own Ethereum because of better future prospects. Staking is safer and more efficient compared to mining which needs hardware to record and verify transactions. It is a good idea to mine Ethereum now and hold on to the coins to see them multiply in the coming months and years.

Ethereum has more uses

Ethereum has more uses than Bitcoin because you can use the software to create your own platform for ICO. This ICO platform also allows companies to raise their funds for investment rather than using traditional methods. Others can buy and pay for services such as Uber using Ethereum as well. It also allows peer to peer transfers because Ethereum can be used as virtual shares which are traded and shared among people around the world. You can also choose to have a fixed amount or fluctuating values that are then circulated-- there are a lot of options.

Avoid the bureaucracy

Ethereum can help you raise funds for your project and give organizational structures the help they need to transform ideas into actions. You can get proposals from your backers and even hold a vote to know how you should move forward. This means you can skip the rigors of long and expensive meetings, paperwork and hiring staff that come with traditional organizational structures. Ethereum also protects your ideas from external corruption and influence.
In conclusion, Bitcoin and Ethereum are two different markets. Most people are quick to point out their cryptocurrency connection but that is as far as it goes. Bitcoin and Ethereum are massively different entities with very different intentions. While everyone might be raving about Bitcoin right now because it has proven to be a resilient and stable cryptocurrency, Ethereum promises to do more in the present and future. There are a lot of reasons to consider Ether when getting into the crypto world!

Ethereum offers both POW and POS
Investors and businesses can work with Ethereum easily
It is one of the most flexible and user friendly cryptocurrencies for mining.

Sources
https://www.huffingtonpost.com/ameer-rosic-/ethereum-vs-bitcoin-whats_b_13735404.html
https://usethebitcoin.com/will-ethereum-better-investment-bitcoin-2018/
https://cryptosis.io/best-cryptocurrency-to-mine/