At Coloco, we offer the computing power you need to start mining popular cryptocurrencies like Bitcoin. Cryptocurrencies have taken the world by storm over the past few years, and many people have realized just how lucrative a mining operation can be. However, it’s not just Bitcoin that has become popular. There are many other cryptos available to mine now. Here are the key differences between the six types of cryptos that you can mine on our systems.
Bitcoin is what put cryptocurrencies on the map. It was the first cryptocurrency to launch in 2009, and it remains the most well-known to date. Bitcoin is also the most expensive cryptocurrency on the market right now. While the price of Bitcoin fluctuates consistently, one Bitcoin is currently worth well over $35,000 USD. However, Bitcoin has very slow transaction speeds when compared to other cryptos.
Bitcoin launched Bitcoin Cash in 2017 in response to the original Bitcoin’s slow transaction speeds. It has a larger block size, which means quicker processed transactions. Also designed with future growth and convenience in mind, right now, more merchants accept Bitcoin payments than Bitcoin Cash, but this could change in the future.
Formed in 2014 as an alternative to Bitcoin, it has undergone several name changes. Before becoming “Dash”, It was originally called “Xcoin” and then “Darkcoin”. During the Darkcoin era, it received negative press for its use on the dark web. However, it is no longer used on the dark web. It uses a different mining process than Bitcoin to allow faster transactions, and it provides two different forms of validation depending on the user’s privacy preferences.
Ethereum has quickly become one of the most popular coins on the market today. It is used on the Ethereum network, which offers peer-to-peer contracts and application development. This means it has inherent value beyond being a cryptocurrency.
Litecoin was one of the original alternatives to Bitcoin, as it was launched in 2011. The biggest difference between Litecoin and Bitcoin is the transaction speed. Litecoin has a very high transaction rate when compared to other cryptocurrencies.
USD Coin is a unique cryptocurrency that maintains the value of the US dollar. This means it is very stable, especially when compared to other cryptos. There are several different blockchains that are capable of running USD coin.
Interested? Then it is your lucky day! Coloco offers affordable colocation services to help anyone interested in mining for cryptocurrencies to get started.