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Best Cryptocurrency Mining Software in 2019

  • Alex Morris
    📚 WikiCoin

    U.Today has managed to come up with the most comprehensive list of the best cryptocurrency mining software


Best Cryptocurrency Mining Software in 2019
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Contents

There are dozens of different software clients for cryptocurrency mining, which makes the task of choosing the right one more difficult. In this guide, U.Today will try to determine what kind of software will be the most relevant choice for your mining management needs.

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Beginner-level miners

Multi-miner

If you are only making baby steps in the world of cryptocurrencies, MultiMiner is definitely a top-of-mind option when it comes to choosing the best mining software. There are no confusing command lines that could complicate the life of uninitiated miners. Instead, it has a user-friendly interface that allows anyone to engage in cryptocurrency trading from the get-go (even your grandma).

MultiMiner users can easily choose what kind of coins they would like to mine, switching between different miners (all mining devices are detected automatically). The service will set you back 1 percent of your profits.

Multi-miner

Easy miner

As the name itself suggests, this open-source mining software client is also supposed to make all things easier with the help of its beautiful interface that simply cannot be more straightforward.    

The disappointing news for Linux and MacOS users is that this miner only supports Windows.

NB! Take into account the fact that these programs may cause issues with your antivirus software given they were a rather popular tool with cryptojackers.  

Easy miner

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BitMinter  

We continue reviewing those mining clients that could be suitable for beginners, and BitMinter is our next contender. As you probably know, BitMinter is the name of a huge mining pool that has been operating since 2011. Hence, it makes the set-up process extremely simple given that you have to connect the miner to their own pool. There is a 1 percent commission involved, but it pales in comparison to the 4 percent charged by BTC.com.     

BitMinter
    
BitMinter’s UI does look a bit bulky and confusing, but look on the bright side – the client is supported by various operating systems.  

Minergate

Minergate is yet another mining pool that came up with cryptocurrency mining software. On top of that, it also supports dual mining – the process of mining multiple coins simultaneously (however, one should take into consideration the fact that merged mining is basically dead at this point). Anyway, Minergate is a great miner that supports a slew of altcoins, and it’s even compatible with Ubuntu OS!

Minergate

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Hashfish

Compared to the aforementioned clients, Hashfish is a relatively new example of Bitcoin mining software (it was introduced by a Blockchain company of the same company in November). However, it does have some aces up its sleeve: no commission, automatic mining and quick withdrawals. Of course, another major advantage of this software is that coins can be mined by individuals who do not have any prior knowledge of technical aspects.   

Hashfish

Miners for advanced users  

BFGMiner

Are you a Linux user? If so, it would definitely make sense to consider installing BFGMiner, which is supported by different operating systems. The client has a text-based UI but it simultaneously offers a wide array of options – from overclocking devices and controlling their temperature to managing mining pools. However, keep in mind that BFGMiner is only compatible with ASIC miners.

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CGMiner

Those who are still stuck with GPUs in 2019 can choose CGMiner, a C-based multi-pool miner that also allows its users to mine with CPU and GPU. Generally speaking, this is the only major distinction between the two clients, and they are considered to be the standard mining tools. Just like with previous clients, CGMiner can be installed on Linux and MacOS. Here are some more suggestions for MacOS users:

  • RPC Miner;

  • DiabloMiner;

  • Poclbm.

CGMiner

Cloud mining with Miner-Server

Cloud mining has become a rather popular trend in the crypto space due to the fact that everyone can dip their toes without having to purchase super-expensive ASIC chips. For cloud mining, you can use the Miner-Server client (the least expensive package starts at $0.14). Alternatively, you can also install Genesis Mining software.     

Flash Player Bitcoin miner

The Flash Player era has been over for a long time, but there is also a working Flash Player Bitcoin Miner. However, the project hasn’t updated since 2013. Also, beware of fake Flash Players installers that will secretly mine Monero.  

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Best mining software for enterprises

So far, we’ve reviewed the examples of cryptocurrency mining software that doesn’t require a license – in most cases, you still have to pay fees but the software itself is free. Here are some of the examples of paid software with the respective pricing:      

  • Hive OS. You are supposed to pay $2/mo per ASIC, but there is also a free trial version. Still, a bunch of fancy features, such as GPU overclocking and a bunch of supported miners definitely justify the price.   

  • Awesome Miner. In order to buy the ultimate edition that allows you to connect more than 100 miners, you have to shell out a whopping $900. Just like Hive OS, Awesome Miner offers a free trial. It is worth mentioning that Awesome Miner is able to handle up to 200,000 ASIC miners, and ordering such licenses will cost mining farms millions of dollars.    
    NB! Awesome Miner doesn’t support Bitcoin payments at the time of writing this article.

  • easyMINE. It is a remote cryptocurrency miner, which can also support over 10,000 devices. This software is designed for big enterprises, but users are supposed to pay 3 EMT (0.03) per ASIC. All devices can be managed from one online dashboard.         

​​​​​​​Best mining software for enterprises

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Desktop mining clients you should avoid  

We’ve mentioned plenty of software clients that, despite some minor drawbacks, still can be considered a good option for mining. Still, there are some programs where minuses outshine pluses, therefore U.Today doesn’t recommend you use the following programs:

  • Honeyminer (apart from slow withdrawals, the software takes a rather high commission);

  • NiceHash (a huge mining platform that is still recovering from the consequences of the 2019 hack, but it’s still a rather popular platform).   

  • BTC miner (the miner is so incredibly bad that some users go as far as threatening the creator of this scam who won’t let users withdraw funds). Now that’s disturbing!   

Of course, you should also beware of cryptojackers given that some cryptocurrency mining software can be installed on your computer without you knowing! Back in August, U.Today reported about cryptojackers stealthily installing malware in a Steam game in order to mine Monero.  

Desktop mining clients you should avoid

Mining crypto on your phone

Yes, despite Google’s crackdown on scammy mining apps, Play Market still has a plethora of options for those who want to try out cryptocurrency mining on their smartphone (for better or worse). For instance, BTC SAFARI, a mining app that allegedly produces up to 400 Satoshis every 15 minutes, is still available for download despite scathing reviews. Other examples of cryptocurrency mining apps include Bitcoin Farm Free and Crypto Miner.

NB! Mining Bitcoin from your phone is extremely unprofitable, so you should beware of fake apps that will dry up your phone’s resources. Although, you can still mine smaller altcoins in the likes of Electroneum.

Mining crypto on your phone

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The bottom line

As you can see, there are plenty of options when it comes to choosing the best cryptocurrency mining hardware. In order to choose the best one, you have to take into account such factors as the coins that you would like to mine, your OS, ease of use, the type of your mining hardware, the scope of your mining installation, etc.

Best Cryptocurrency Mining Software in 2019

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Scalability on the Blockchain — Is There a Problem?


Scalability on the Blockchain — Is There a Problem?
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We can witness the golden era of Bitcoin only if scalability allows it. Just increasing block sizes or reducing mining time isn’t enough to fix the problems. 4 transactions per second — this is the average speed of the Bitcoin blockchain. By comparison, Visa provides about 1,700 (TPS). The difference is colossal! It’s clear that Bitcoin and other cryptocurrencies are not yet ready to compete with such indicators.

Problems of Bitcoin

The result of 4 completed TPS sounds disappointing, but why couldn’t Bitcoin’s blockchain work faster? Here are some clues:


  1. Limitations:

With each new transaction in the net increases the blockchain size.

  1. Data Size:

With a standard block hard-cap of 1MB in the Bitcoin blockchain, it’s hard to talk about effective scaling.

  1. Response Time:

On average, it takes 10 minutes to extract one block in the Bitcoin blockchain. Any online transactions must be validated. From here the queue that lasts for a considerable time.

  1. High Fees:

The validation process costs more because mining requires higher processing power.

What are the solutions?

Bitcoin’s blockchain has become something really huge. This is a system with a new level of security, economy and freedom of action. The community is trying to make blockchain ideal, but it’s not that simple. Each decision must be supported by the crypto community, and implementing changes will require even more time and effort. But now there are some solutions.

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Hard Fork

It is enough to imagine a complete change of the game’s rules to understand what a hard fork is. For example, you played football, but now you must play basketball. The ball is there, but the rules are radically different. So, a hard fork makes all members of the Bitcoin network download a completely new protocol. However, it has a history of transactions but not the connection with the old system.

Perhaps everyone has heard about one of the most successful hard fork at the moment — Bitcoin Cash. The altcoin lives and thrives, successfully breaking the block size mark of up to 32 MB.

time BCHUSD charts
Bitcoin Cash charts by TradingView

Soft fork

Segregated witness (SegWit) is an implemented protocol update that solves the issue of the Bitcoin’s blockchain transaction malleability and scalability. Every transaction consists of two part. The first one is Basic information. And the second part is Witness, it carries a special cryptographic code. This code is a confirmation of the virtual transaction in Bitcoin currency.

The essence of soft fork is to store the Witness signature in a sidechain. This move creates free space inside the block. At the same time, the block size increases without actually increasing. Let's look at the pros and cons of SegWit.

Pros:

  1. Increasing the Bitcoin’s block size allows containing signature data about other transactions in each of them.

  2. Optimizing the payment verification time will greatly enhance the transaction confirmation process.

  3. Soft fork reduction fees.

  4. SegWit eliminates the problem of Bitcoin’s transaction malleability.

  5. The bigger transaction amount in each block, the better miner's fee.

  6. The Bitcoin network is becoming less vulnerable to hackers thanks to a decrease in transaction volume.

Cons:

  1. During implementation, problems may arise in the operation of the system, since wallets must conduct it themselves.

  2. Radical actions can separate community.

  3. Miners will receive fewer fees.

  4. Resource consumption will grow with an increase in bandwidth and the number of transactions.

  5. No fee for miners for chain maintenance, unlike the main Bitcoin network.

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Lightning Network

The technical solution, known as Lightning Network, can be called the most successful of all that solving the current issue with scale. Deployed on top of Bitcoin, LN uses advanced smart contracts to achieve higher transaction bandwidth while maintaining the peer-to-peer nature of the Bitcoin protocol.

Lightning Network usage nowadays
Lightning Network charts by p2sh.info

The main idea of the service is to not record all transactions in the blockchain since it overloads it. If participants transfer funds to each other several times, it is not necessary to register each transfer. It will be enough just to open the payment channel and record the data on its opening in the blockchain. The channel will remain open until one of the participants decides to close it by adding the relevant data to the blockchain.

The advantages provided by Lightning Network:

  • Reducing the load on the Bitcoin blockchain.

  • Significant increase in transaction per second.

  • Reducing the verification queue.

  • Minimizing the miners' fees for servicing transactions.

Disadvantages of Lightning Network:

  • Although the Lightning Network is actively developing and implementing by more and more services, it is still in the experimental stage.

  • P2P nature of protocols allow making only online transactions, which means that the recipient and the sender must be in the network at the time of sending.

  • There are concerns about the security of the network because everything happens on top of Bitcoin, and therefore Lightning Network does not use the Bitcoin security model provided by miners.

  • The high probability of network centralization, the level of network control by one player has reached 64% of capacity, which is incredibly high.

In any case, LN is a real system, able to cope with the problem of Bitcoin blockchain scalability.

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Plasma

Plasma is similar to Lightning Network, except for Ethereum. This is a contact system built over the main blockchain. The root network contract handles only a few obligations from affiliated blockchains, which, as a rule, can handle a huge amount of computation. Obligations are periodically translated from child chains to the root. It can be said that the root blockchain plays the role of the supreme judge from whom the authority of the subordinate courts emanates.

But since the data is transmitted completely only to those who confirm a particular state, participants must independently monitor the chains of interest to punish fraudsters. In the event of an attack, participants will be able to quickly and easily make a mass exit from the child's blockchain to the root.

Blockchains can line up in a hierarchical tree structure. This allows you to balance the system, make the data as accessible and safe as possible, and reduce costs. Mining is performed with complete reliability only in the root blockchain, and the rest receive data authentication from it.

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Conclusion

The network of Bitcoin and other cryptocurrencies is growing rapidly. The larger the network, the sharper is the issue of scalability. We reviewed the popular methods of solving these problems. The community is trying to find appropriate solutions and new ideas.

One of the most successful and discussed solutions in the media is Lightning Network, the capacity of which exceeded 700 BTC, and the number of nodes is close to 6,500, but new heights obey the community. For example, the maximum block size in the Bitcoin SV network has already exceeded 128 MB and in 2019, it is planned to reach the size of 1GB. In parallel, the implementation of SegWit continues.

As for what will happen next, we'll see, but a final solution to the problem of Bitcoin scalability is not expected in the near future.

Cover image via 123rf.com
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