Crypto mining continues to evolve, with traditional Proof-of-Work (PoW) mining facing increasing scrutiny due to its high energy consumption. Here's a breakdown of mining trends:
* Proof-of-Stake (PoS): A more energy-efficient alternative to PoW, PoS validates transactions based on coin ownership. Examples include Ethereum (ETH) and Cardano (ADA).
* Cloud Mining: Rents out mining hardware for a fee, allowing participation without expensive equipment. However, profitability can be impacted by service fees and mining difficulty.
* Pi Network (Pi):
A unique project that uses a phone-based consensus mechanism instead of traditional mining. While it's gained traction, Pi's long-term viability and coin value remain uncertain.