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Proof-of-work isn't dead

 


Proof of Work (PoW) cryptocurrencies are mined by solving complex mathematical calculations. These coins have mostly fallen out of favor with investors as general concerns about carbon emissions remain. Here are some of the best proof-of-work cryptocurrencies to buy.


Kadena (KDA)

Kadena is a fast-growing blockchain project created by an experienced team of former JP Morgan employees. The platform hopes to become a leading network for building scalable decentralized projects.


Unlike other Ethereum killers that use proof-of-stake, the platform uses an advanced proof-of-work methodology that scales as more coins are mined.


In particular, Kadena is one of the fastest blockchains in the world. According to the developers, it can handle over 480,000 transactions per second (tps).


In contrast, Bitcoin processes less than 10 tps while Ethereum processes less than 20. Therefore, there is a likelihood that the Kadena price will continue to rise as more developers embrace the network.


Currency (XMR)

Demand for privacy cryptocurrencies has increased over the past few months. With Russia invading Ukraine, investors believe cybercrime will continue in the coming months. Therefore, attacks on critical infrastructure platforms such as pipelines and the financial sector will increase.


Most of these hacks are ransomware, where hackers lock down a network and demand payment. Since bitcoin is somewhat vulnerable, analysts believe most hackers will opt for privacy cryptocurrencies like Monero.


Monero is a proof-of-work cryptocurrency known for its security and advanced privacy features. Therefore, there is a likelihood that the price will continue to rise as demand increases.


Bitcoin (BTC)

Bitcoin was the first cryptocurrency ever launched. In recent months, the coin has become extremely successful as its market cap has grown to over USD 800 billion.


Bitcoin is also the most popular cryptocurrency among retail and institutional investors. Therefore, although its price has dropped remarkably over the past few months, there are chances that it will recover


For one, on-chain data shows that activity in the Bitcoin ecosystem has been stable despite the coin’s performance. Additionally, as regulations improve, there is a possibility that Bitcoin will continue to rise.


In addition to these three, there are other popular proof-of-work cryptocurrencies that you can consider. For example, Ravencoin is a cryptocurrency that was developed by cloning and improving Bitcoin's original code. Additionally, Zcash is a PoW coin that offers strong privacy features.

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