Minable cryptocurrencies are currencies in which individuals or companies can use computing power to solve complex mathematical equations called “proof of work,” and once these equations are solved, they are able to create and confirm trades on the digital currency network. Through this process, the new digital currency is issued and distributed to miners as a reward for their efforts.
Some examples of minable digital currencies include:
1. Bitcoin: It is the first and most famous digital currency, and it uses the digital proof of work (PoW) protocol to achieve network security and confirm transactions.
2. Ethereum: Although it intends to switch to a PoS system in the future, Ethereum is currently still using PoW. Ethereum is used to run smart applications and smart contracts on the blockchain.
3. Litecoin: It is based on the Scrypt mining protocol, and it aims to provide faster mining rates compared to Bitcoin.
4. Bitcoin Cash: It is a fork of Bitcoin created in 2017, and uses the same PoW technology as Bitcoin.
5. Monero: It uses the CryptoNight mining algorithm, and aims to provide more private and anonymous mining rates compared to other currencies.
These are just some examples of minable digital currencies, and there are many others that rely on the same or similar technologies to achieve mining and issuance of coins.
