Finding the next cryptocurrency worth mining can be a bit challenging these days. Not everyone wants to invest thousands of dollars into graphics cards or ASIC mining hardware. There is never a guarantee of recuperating one’s investment either, creating a rather problematic scenario for those who do so. However, everyone has access to low-power devices, such as smartphones and tablets, all of which are theoretically capable of mining cryptocurrencies.
One can find a different take with Utopia, a cryptocurrency ecosystem with a native Utopia mining bot to generate the Crypton currency. Unlike what the name suggests, the mining bot doesn’t require specific hardware to run. It is a separate application that provides confidentiality to network transactions for which providers receive rewards. As this application is not included in the core Utopia software, users who opt for mining Crypton have to decide consciously. It is an unusual way of empowering community members, although one that promotes decentralization.
Even among major public blockchains, there is a shift toward alternative options. Cardano recently introduced proof-of-stake support, making it more energy-efficient than competing blockchains sticking with proof-of-Work. Users who hold ADA for more extended periods will receive rewards, resulting in a yearly energy draw of 6 Gwh, which is a minor fraction of Bitcoin‘s consumption.
It is pertinent for the crypto industry to cater to the needs of the many, rather than stick to the current group of enthusiasts. While most people see these assets as speculative in nature, the underpinning technology has the power to transform society for the better. Exploring alternative ways to reward users with cryptocurrency in exchange for services rendered puts a unique spin on crypto mining. No one ever said mining should only be possible with dedicated and expensive hardware, as there are many other options to explore.
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Source: Cryptocurrency - investing.com
