As reported a short while back, Ethereum mining is all set to become unprofitable with the impending launch of Ether 2.0, otherwise known as EIP-1559. For the hordes of games out there, this is undoubtedly good news, but it appears that cryptomining will persist for the time being.
At the time of writing, the Conflux (CFX) network which is used to mine the cryptocurrency Octopus is now more profitable than Ethereum. Conflux is 107% more profitable than Ether over a period of 107% and a rather significant 138% more viable if you extend that to a week.
At the moment, the revenue from mining Ether using a GeForce RTX 3070 is $4.75 per day using the Ethereum network. In comparison, mining octopus on Conflux nets you $5.07 on the same GPU. Not that much of a difference, but considering that Ether might become redundant for miners very soon, Conflux is a very viable alternative.
The live Conflux Network price today is $0.804012 USD with a 24-hour trading volume of $9,210,482 USD. Conflux Network is up 6.57% in the last 24 hours. The current CoinMarketCap ranking is #2308, with a live market cap of not available. The circulating supply is not available and a max. supply of 10,000,000 CFX coins. The top exchanges for trading in Conflux Network are currently CITEX, Hoo, MXC.COM, Gate.io, and CoinEx.
Conflux Network is an open protocol for a new world of DApps, finance, and Web 3.0. As a fast and secure public blockchain, Conflux Network combines Proof of Work and a Tree-Graph structure to power a new generation of decentralized commerce.
Born from the top minds of Tsinghua University and the University of Toronto, Conflux Network is overseen by a diverse global team with the mission to promote cross-border collaboration by developing decentralized open source technologies. By adopting a scalability consensus mechanism and safely retaining fork blocks, Conflux realized a high throughput rate of 3000-6000 TPS. (mythdetector.ge)
