Alternative Coin and Altcoin Mining

Before going any further about the difference in mining BTC and Altcoin, we should know what is altcoin or alternative coin.

If you already know a lot about Bitcoin then there is no need to elaborate specifically on this alternative coin. Actually, the simplest explanation is that if Bitcoin is the first cryptocurrency recognized by the world, then the new coins after Bitcoin are called “Altcoin”.

Altcoin is essentially almost the same as the Bitcoin concept, which is virtual money, except that the world’s bitcoin is recognized and altcoin still is not. Currently, there are many new altcoin emerging that you can mine. So does with Bitcoin, if you want to get Bitcoin there are many ways, one of them is by mining. Did you know the with that term?

The Differences About Mining Bitcoin and Altcoin

What’s in your mind when you have questions about cryptocurrency mining? The answer is hardware, why must hardware? Because hardware that can be used for the mining process. There is 3 most important part of the hardware that uses for mining that are CPU, GPU, and ASIC MINER.

See also: The difference about Bitcoin and Forex

The difference between CPU and GPU compared to ASIC MINER is its speed, and even more so for CPU and GPU has multi algorithm function, but if ASIC Miner is only for 1 algorithm. The specifications of the CPU and GPU are important in speed, while currently there are only 2 Asic Miner algorithms being launched to the public, believe SHA256 and also SCRIPT, Then what are SHA256 and SCRIPT?

SHA256 is an algorithm of BTC recognized by the world, whereas besides it is called ALTCOIN (alternative coin). The difference between the two is altcoin based on Bitcoin as a determinant of its value or its value. But in the process of getting it is still the same that is to break new blocks and get a prize.

Then why should there be Altcoin?

Basically, depends on the coin developer when first designing the coin. Mining from Bitcoin per 10 minutes is made one block and will decrease reward per block every 4 years. Because too many developers of alternative coin want to emulate the Bitcoin and because of many developers who just want to get personal benefit from that coin.

Actually, the main purpose of these developers is creating an eco-friendly algorithm with efficient energy. But that purpose has abused by those who DUMP and PUMP the market. Then why SHA256 can not result in as much and as much as SCRIPT?

The answer is eco-friendly to be an excuse to boost the exchange rate of altcoin, and short life becomes an alibi for Hit and Run, then the edges are profit oriented.

See also: Bitcoin Price Forecast 2018

If anyone asks “why BTC mining is less the result than altcoin?” Maybe you can answer that the possibility of miner Bitcoin more crowded and many rivals, then the level of difficulty is higher.

Furthermore, is there no diff in mining alternative coin? Well, the difference is in the mining method, the difference of 1 ghash sha256 and 1 mhash scrypt is 1 ghash = 1000mhash.

Well, the point is because alternatives coin are based on BTC then a multipool system appears. Where in this multi pool system utilizes hash in searching for altcoin whose exchange rate is highest against BTC, then mining in the multi pool using script would be much more profitable than directly mining in Bitcoin.

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