In general, when we hear about Proof-of-Work (PoW) altcoin projects, we immediately think of Bitcoin. However, there are lots of other PoW coins out there. Now we are seeing a lot of restrictions for crypto investors in the US market as well. Still, there are other PoW options available. Crypto expert Camille Lemmens examines 3 alternative altcoins to BTC.
The top altcoin Kadena (KDA)
Kadena is different from most PoW Blochkchains. For starters, it’s scalable and fast. They don’t have to be well-known features that we tend to combine with PoW Blockchains. Another interesting aspect of Kadena is that they use double layer technology. In other words, two Blochkchains with different use cases. For example Avalanche has something similar. They use a platform Blochkchain (P-Chain) and contracted EVM Blochkchain (C-Chain). Kadena’s two Blochkchains,
- Chainweb: Layer 1 Blockchain. This is where you will find the PoW algorithm. It’s also where mining takes place. It uses sharding for scalability. Think of Sharding as a large gas station with only one pump in a crowded neighborhood. This leads to a large queue. But with sharding, the gas station turns on more pumps and the queue disappears.
- Kuro: Here you will find a Byzantine Fault Tolerance algorithm. This supports the scalability of the platform. It also accommodates fast transactions.
In second place is RavenCoin (RVN)
RavenCoin left Bitcoin using its code. It also now uses open source code. Unlike Bitcoin, its maximum supply is 21 billion tokens, not 21 million. RavenCoin platform offers you the chance to create and transfer tokens. However, what sets RavenCoin apart is that these new tokens represent real world assets. For example: securities, gold, land titles, event tickets and air miles. As the token creator, you have full control over how you issue new tokens. For example, as security or as a collection. Or the number of tokens? You decide the characteristics of each token you create.
Unlike Bitcoin’s block time of 10 minutes, RavenCoin’s block time is only 1 minute. The platform also uses a different algorithm like KAWPOW. It further decentralizes mining. You don’t need special equipment for mining purposes. Rather, you can mine using your CPU. In other words, an easy introduction to mining RVN. The block reward is 5,000 RVN per block. As a token generator, you can also add messaging to your code. This allows you to inform all or specific owners about upcoming events. For example, voting for new proposals.
Latest altcoin: DigiByte (DGB)
DigiByte is a true crypto OG. It was launched in 2014. It has some great features for a PoW Blockchain. For example,
- It generates a block every 15 seconds.
- TPS (transactions per second) at 1066.
- Low fees, less than $0.01 per transaction.
This doesn’t sound like the typical PoW Blockchain does it? DigiByte offers you the following features among other things: Launch apps, Dapp issues and Use Digital IDs. Meanwhile, it offers a high level of security. DigiByte uses at least five different mining algorithms to achieve this. For example, one of these algorithms is Odocrypt. It changes the algorithm every 10 days. As a result, ASIC builds and maintains resistance. Like RavenCoin, you don’t need any special equipment. You can print DGB with consumer-level hardware. DigiByte uses three different layers. For example,
- Application layer: Everyone has access to this layer. It gives access to all dapps and you can use DGB token here.
- Reconciliation layer: This is where miners release new DGB tokens and record transactions.
- Network layer: This is the base layer. Here you can find, for example, operating procedures or communication descriptions.
DigiByte has a maximum supply of 21 billion DGB tokens. Each block issues 1% less DGB tokens. However, not much is known during the time this project has been around.
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