Bitcoin (BTC), ethereum (ETH), filecoin (FIL), chia (XCH). These are among the most popular cryptocurrencies that have caught the attention of miners around the world.
Each has a relatively high barrier to entry, poor sustainability, and questionable utility. What if there were a cryptocurrency that solved all of these issues? That is exactly the case for the exclusive and fully integrated privacy coin of the Utopia eer-to-peer ecosystem, Crypton (CRP).
Barriers to entry
Miners seeking to earn any tangible amount of BTC, ETH, FIL, or XCH are required to make significant investments in hardware, whether that equipment is in the form of application specific integrated circuits (ASICs) for BTC, graphics processing units (GPUs) for ETH, or hard disk drives 9 (HHDs) for FIL or XCH.
This equipment can cost miners thousands or even millions of dollars to gain any significant foothold in the market. Some equipment, such as the ASICs, is exclusive to a coin or class of coins and has no other purpose or function besides the mining itself.
Such barriers to entry represent a very high level of risk to prospective miners and with market saturation, may not provide a long-term expectation of profitability.
Having high equipment and energy requirements for mining in a global environment where renewable energy and minimizing e-waste have become priorities means the mining of these coins has unsustainable futures.
During a market downturn for BTC, unprofitable mining equipment is often trashed wholesale, and during regular mining operations, it is estimated the lifecycle of a hard disk drive mining XCH is reduced to mere weeks. None of these circumstances are viable in the long term.
Cryptocurrency mining is influenced by the speculation of the markets. Intense periods of speculation that result in inflated market prices can make even the most unsustainable economic activities profitable in the short term. The most sound investments in mining are those which can survive virtually any market condition.
The main requirement of such mining is genuine coin utility when demand exists for the coin being mined outside of speculative frenzies.
Enter Crypton (CRP): accessible, sustainable, genuine utility
Utopia is a revolutionary peer-to-peer ecosystem with no equal. It provides an encrypted and censorship-free version of the internet as we know it, with an integrated and private payment unit called Crypton.
Users are free to register domains, host websites and take payments, issue invoices, and transfer funds all in the exclusive currency CRP.
Mining of Crypton is among the most accessible of any digital currencies, requiring only a static, public IP and a high-quality internet connection beyond nominal hardware requirements.
There is no special equipment that needs to be acquired, virtually anyone can mine CRP using their home internet connection or a virtual private server (VPS).
As surveillance and censorship become more prevalent, the utility of Utopia will continue to rise and along with it, demand for its exclusive digital currency, Crypton. This is why the future of cryptocurrency mining is Utopia’s P2P ecosystem Crypton.