Qubit algorithm – Miners (ASIC) & list of coins with Qubit PoW algorithm
Cryptocurrency miners have used various types of hardware to mine blocks. Initially people used their computer’s CPU power to mine Bitcoin blocks. Then to enhance the hashrate users added graphics hardware which drastically outperformed CPU mining. Then slowly special purpose ASICs (Application Specific Integrated Circuit) were designed to mine Bitcoin. Currently only users who own these specialized mining machines can mine Bitcoin and other cryptocurrencies that are based on SHA-256 hashing algorithm. Qubit is another hashing algorithm used in Proof of Work mining and it too has a similar story.
A number of altcoins (alternate cryptocurrencies) that was launched back in 2013 & 2014 were started as a CPU based cryptocurrency. All those coins used Qubit which is a fast and super secure hashing algorithm. Initially this algorithm was only suitable for CPU mining. Later GPU miners appeared and made CPU mining profitless. Then ASICs became available and made GPU mining less effective. All those cryptocurrencies that stated as CPU and GPU based are still using Qubit algorithm. Today, you can’t mine any of those coins using your PC or GPU mining rig due to the availability of advanced mining hardware that delivers a large amount of hashing power. So what are the list of coins that are based on Qubit PoW algorithm? Before we see the list let’s take a look at the most powerful Qubit ASIC miner.
Not sure about RTX GPUs. But a single NVIDIA GTX 1080TI can produce up to 30 Mh/s on Qubit algorithm. Now compare this hashpower with a mining equipment that can hash up to 28 GH/s. Do you think mining using your GPU would be profitable? DigiByte (DGB) is one of the popular coin that uses Qubit algorithm. Head to mining calculator and you’ll know that at current network hashrate a GTX 1080 TI is not even capable of generating 1 DGB coin / day. Even if you got free electricity; your GPU mining rigs won’t be able to pay for themselves.
There are number of ASIC miners available for Qubit such as Pascal A1, Baikal BK-X etc; but the latest release from Baikal; Bk – G28 is the fastest Qubit miner currently. This particular model can generate 28 Gh/s @ just 850 w. Also along with Qubit it has support for few other algorithms such as: Groestl, Myriad-Groestl, X11, X11Gost, Nist5, Quark and Skein. Due to such speed and power saving characteristics mining Qubit coins using GPU is completely pointless.
Qubit is one of the oldest PoW algorithm and since it is no longer ASIC resistant none of the new GPU based coins will be implementing this algorithm. Even the ones that uses Qubit are either a multi algorithm coin or have switched to PoS or they are completely inactive. So at this point even buying an ASIC for Qubit is useless. If you are wondering then following are the list of cryptocurrencies with Qubit PoW algorithm
- Digibyte – Multi Algorithm
- Aurora coin – Multi Algorithm
- Geocoin – Proof of Work mining phase completed
- QubitCoin – Low volume, Less active
- Litecred – Low volume, Less active
- Cypher – Inactive
- ZLiteQubit – Inactive
- The creed – Inactive
- Asean coin – Inactive
- Fame coin – Inactive
- Samsara Coin – Inactive
As you can see most of the coins that are powered by Qubit algorithm are already dead. You only got DigiByte, Aurora coin and Geocoin. Among them Geocoin PoW blockchain is abandoned and it has completely migrated over to the Ubiq network. You can’t mine Geocoin anymore so that leaves you with two coins.
Both DigiByte and Aurora coin are multi-algorithm coins. For more fair mining distribution and for high network decentralization these coins have implemented 5 different algorithms namely: Sha256, Scrypt, Skein, Groestl & Qubit. You can mine DigiByte or Aurora coin using any of these 5 algorithms and each algorithms has its own independent difficulty. However the problem is that ASICs are out for all these 5 PoW algorithms. Due to this mining DigiByte or any Qubit coins using GPU is not profitable. Even the powerful ASICs that are available today will become obsolete at some point of time so it’s not worth it really. Plus the coins are so cheap currently so instead of investing on mining it’s better to buy coins directly.
DigiByte Qubit mining
We decided to share this information because one of our user recently asked us “Can I mine DigiByte using GPU?” Everyone knows that SHA256 & Scrypt ASICs are available long before. Remaining three algorithms that was left for GPU miners were also affected by ASICs recently. So you cannot mine DigiByte using GPUs currently.
We are proud to announce we are testing the next generation of #blockchain mining technology. Imagine a mining algorithm that recreates itself every 10 days? No #ASIC could ever be created for it. True #Decentralized #ProofOfWork #CyberSecurity
— DigiByte (@DigiByteCoin) November 8, 2018
However the DigiByte team have announced that soon it will become ASIC-resistant. The team is working on next generation PoW mining algorithm which recreates itself every few days. The idea behind this development is to decentralize the network and to resist ASICs. Once something like this gets implemented GPU miners will be able to mine DigiByte again.