The GPU market is crazy right now and profitability isn't exactly keeping up. Here we will compare ROI with cards mining ERO with current prices. We recommend buying GPUs for less than $15/MHS which is what these cards will be ranked on. If you want to see cards ranked on ETH check out tom's hardware post.
Data taken from: Sebs FinTech on Youtube.
Current DAG Size of ERGO: 2.080GB
Most Efficient GPU: AMD Radeon VII
Best GPU overall: RX580 4GB
Highest Hashrate: RTX 3090
But you might need some shampoo after dealing with all these scalped prices.
The Current DAG Size for ergo is 2.080GB and it should stay under 3GB until 2023. Autolykos is the current proof of work algorithm that ERGO uses.
All Numbers are based off 13¢/kWh.
RX 580 4GB
Why should I mine Ergo:
With Ergo hitting heights of $19.60 per coin this year and Eth 2.0 coming out sometime in the near future, it is important to look into these other POW coins. Ergo, at one point was more profitable to mine than ETH. Since then the profit has dropped off quite a bit, however with the developers being active with this project and pushing to be listed on more exchanges , the price could easily go up. The current price of Ergo is $10.11 per coin and it isn't the most profitable coin to mine. Miners like T-Rex allow for users to bypass the LHR on cards by mining both ETH and Ergo at the same time. If someone were to mine T-Rex with a Eth and Ergo mix, 70% of the hash rate would mine Ergo and 30% would mine Eth. This will boost the Ergo network substantially and will help lead it into the next year.
More Info on ERGO:
Ergo is an open protocol that implements the newest ideas in their blockchain. ERGO builds cryptographic features that secure information and communications through uses of codes. The four main pillars of cryptography are confidentiality, integrity, non-repudiation and authentication. This allows for symmetric key cryptography, hash functions and asymmetric key cryptography.
Ergo blockchain is layer 1 protocol for DeFi contracts that builds cryptographic and new DeFi functionality on the solid foundations laid by decades of blockchain theory and development. Defi is a blockchain based form of finance that does not rely on typical sources(Brokerages, exchanges, banks). Instead DeFi uses smart contracts on blockchains.
Launched in February, Ergo's stablecoin SigUSD is based on AgeUSD protocol. This means that everyone can mint SigUSD (That is stuck to the US dollar). It's collateralized with its own cryptocurrency reserves ERG using SigUSD, this prevents liquidations. SigUSD also allows for Lending and Borrowing. Users can leverage unused SigUSD by staking in the lending protocol.
Oracles connect off-chain data with the on-chain world. They are the messengers of the crypto ecosystem. Ergo developed Oracle Pools to maintain the DeFi ecosystem. In order to keep the networks decentralized Ergo uses eUTXO and ErgoScript to accomplish this. The ccurrent ERG/USD oracle pool is running on the Ergo Blockchain.
Ergo NFT Auctionhouse is open and allows listings for picture, audio or any other kind of non-fungible tokens. This is extremely important due to the rise in popularity for NFTs'. Ergo is currently working on releasing Auctionhouse v2. In the digital world you can copy files as many times as you want, including art that's included with an NFT. However NFTs are designed to give the owner something that can not be copied. When you buy and NFT you are the owner of the work but artist can still retain the copyright and reproduction right just like physical artwork.
Ergo is balancing the project is adequately funded without disadvantaging later users. If a large portion of tokens is pre-mined or reserved in ICO, then users who mine Ergo later in the game are at a disadvantage due to block rewards. Ergo has chosen a strategy that has been successful for other cryptocurrencies, where a percent of tokens from each block reward is allocated for development and marketing. These tokens are managed by a smart contract build into the protocol. 10% of each block reward for the first two years (7.5 ERG/Block) is allocated to the treasury. With the remaining 67.5 ERG going to the miners. As these block rewards begin to decrease after two years, the miners will still be rewarded 67.5 ERG and the treasury allocation dropping to zero after 2.5 years.
Ergo is committed to organic and non-breaking development of the Ergo platform protocol. The foundation takes care that the changes approved not only by miners but also users, projects building on top of Ergo and core developers. The foundation is also dedicated to help build trustless environments, smart contracts and payment frameworks for the public with privacy in mind. This includes fundraising, research, maintenance of Ergo, updates for Ergo, marketing, and events. They are committed to make efforts to maximize the number of valuable ecosystem developments done in an open-source way.
SpreadSheet: Provided by-Sebs FinTech on Youtube.
This Spreadsheet contains more GPUs that were not covered above. Thank you again Seb for gathering all of this important information for all POW miners! Without this sheet it would have taken me hours to gather all of the data for each card. This spreadsheet is not up to date but does give the proper hashrate and power usage of each card. Just go to what to mine to check profitability when making decisions.
With the price of GPUs being so high and Eth 2.0 coming out, It is not worth investing a large amount of money into hardware. At least when it comes to mining ERGO. However profits are still good enough to continue mining after Eth 2.0 comes out, especially with an active project like Ergo.