Alternatives to Helium Miners
When it comes to blockchain technology and mining, Helium mining has got all the buzz. But it also has its worthy competitors. This article introduces you to some worthy helium mining alternatives that may be worth your investment in 2024.
Stellar
The idea behind Stellar was originally to facilitate global financial transactions at minimal costs. Since then, this platform has evolved significantly and today poses a good option amongst helium mining alternatives. Stellar’s unique protocol called the “Stellar Consensus Protocol” sets it apart and ensures its users’ efficient transactions.
Recently, the crypto platform has released a new update: “Soroban”. This marks an important shift in the company as it introduces “smart contacts”. With this move, the network’s capability has gone beyond its primary focus on payments – it attracts developers. This is predicted to expand its network, thus offering investors an intriguing helium mining alternative in the blockchain space.
Fetch.ai
Fetch AI brings two innovations of the past decade together: cryptocurrency and AI. Using artificial intelligence, the platform enhances the decentralized finance scene by adding automation, personal oracles, improved security and enhanced convenience for its users.
Fetch has an interchain protocol and smart contract language – which enables advanced cryptography and machine learning on-chain. Fetch is part of the Artificial Superintelligence Alliance (ASI), which is set to soon release its ASI token. All of these factors make Fetch.ai a desirable helium mining alternative, and with the rise of interest in AI crypto, the returns on this platform look promising.
NEAR
NEAR Protocol emerges as a respectable alternative to Helium mining, especially because of its “Chain signatures” feature. This feature enables cross-chain interoperability – which means that its users can control their addresses on various block chains. This opens the door to endless possibilities for a DeFi, as it nullifies the need for complex asset bridging.
With support for various blockchains like Ethereum, Bitcoin, and XRP Ledger, NEAR Protocol focuses on streamlining the user experience in a multichain ecosystem. It is this flexibility that makes NEAR an appealing platform.
Verge
Verge coin began its cryptocurrency venture back in 2014 under the moniker DogecoinDark. The driving force behind its creation was the desire to establish a genuinely private digital currency. The founder of Verge recognized Bitcoin’s lack of anonymity and sought to develop a blockchain where transactions couldn’t be tracked. To achieve this, Verge employs various anonymity-focused networks like TOR and I2P.
This platform is an amazing alternative to helium mining, especially for people who value anonymity and privacy above all. Verge’s open source nature promotes transparency and inclusivity all while offering fast transactions and multiple Proof-of-Work algorithms for mining.
Telos
Telos is another well-known and respected name in the crypto world. It stands out because of its Ethereum Virtual Machine (EVM) and high-speed consensus layer, Telos Zero. Both of these technologies are known to be among the fastest globally.
The platform’s Zero Knowledge (ZK) technology is developed to enhance privacy and scalability, because of which it is admired by lovers of decentralized blockchains. Recently, it has come into a strategic partnership with Atka – through which the platform is set to expand into the markets of France and across Europe. The future, therefore, looks promising for Telos, making it a great alternative to helium mining.
For those eyeing the decentralized tech scene, these helium mining alternatives offer a range of promising options. We recommend conducting your own research about each of these platforms and picking one that bests suits your needs.
