Altcoin Roundup: 3 Proof-of-work protocols focused on building Web 3.0

The proof-of-piece of work (PoW) consensus model is the mechanism that kicked off the revolution that launched Bitcoin (BTC) in 2009 and it was the model of choice behind many of the pop projects in the early on fledgling years of the crypto ecosystem.

As time progressed, other consensus models like proof-of-stake (PoS) rose in popularity, especially as the toll of running mining rigs, the constant need to update equipment and environmental concerns led to the PoW model falling out of favor with many.

Every bit a consequence, projects looking to employ a proof-of-work model accept had to suit to stay aligned with the demands of the wider market. This has led to the emergence of projects that offer a more than environmentally and economically friendly arroyo to Pw, while too aiming to build Spider web three.0.

Let's take a wait at some of the projects that allow people to contribute their resource toward securing the network and earn a yield in the procedure.

Helium

Helium is a decentralized blockchain-powered network for the Internet of Things (IoT) devices that utilizes a global network of low-free energy wireless "hotspots" that broadcast data via radio waves to be recorded on its blockchain.

The network uses a new work algorithm that has been dubbed "proof-of-coverage" to validate that hotspots are providing legitimate wireless coverage and that miners receive the platform's native HNT token for helping to provide coverage for the network.

The Helium network saw tremendous growth throughout 2022. Currently, at that place are more than 309,000 nodes in operation.

*Helium network statistics. Source: Helium*

More recently, the Helium network expanded its capabilities by adding support for 5G wireless capabilities which included the launch of a new line of miners capable of transmitting the 5G signal.

On October. 26, Helium announced that it had partnered with the satellite television company Dish Network, making Dish the showtime major carrier to bring together the Helium network and offer its subscribers the opportunity to run Helium nodes in exchange for HNT tokens.

*HNT/USDT 1-twenty-four hour period nautical chart. Source: TradingView*

Shortly after these developments, HNT toll rallied to a new all-fourth dimension high at $53.11 on Nov. 9.

Kadena

Kadena (KDA) is a scalable PoW layer-i blockchain protocol that claims to be capable of processing up to 480,000 transactions per second (TPS) thanks to the use of braided chains.

Unlike the top PoW cryptocurrency Bitcoin, Kadena also offers smart contract capabilities similar to those found on Ethereum and features its own smart contract programming linguistic communication chosen Pact.

Being smart contract capable means that the Kadena network is capable of hosting decentralized finance (DeFi) and nonfungible token (NFT) protocols, too as a host of other specialized projects from stablecoins to payment processors.

Some of the goals of the project have been to address the major issues plaguing the Ethereum network such as high transaction costs and network congestion, and claims to offer marginal transaction fees for consumers while also introducing a "crypto gas station" characteristic that lets businesses create accounts that be to fund gas payments on behalf of its user base when certain conditions are met.

Kadena utilizes the Blake (2s-Kadena) algorithm every bit its consensus model which requires native ASIC miners and cannot be mined using GPUs or CPUs.

Recently, KDA launched a wrapped version of its token called wKDA that is capable of interacting with all Ethereum Virtual Machine- (EVM-) compatible networks and their associated DeFi protocols.

In the future, the team behind Kadena also has plans to add cross-chain support for other pop blockchain networks including Terra, Polkadot, Celo and Cosmos.

*KDA/USD 4-hour chart. Source:* *TradingView*

Data from Cointelegraph Markets Pro and TradingView shows that as a result of the recent developments, the price of KDA had surged 1,280% from a low of $2.05 on Oct. 17 to a new all-time loftier at $28.44 on Nov. 11.

Flux

Flux (FLUX) is a native GPU mineable Pw protocol that is focused on scalable decentralized deject infrastructure for Spider web 3.0 applications.

According to the project, the Flux ecosystem is comprised of a suite of decentralized computing services and blockchain-every bit-a-service solutions which offering an Amazon Web Services-like development environment, as well as the FluxOS second-layer operating system that is capable of running "any hardened dockerized awarding."

The Flux network uses the ZelHash algorithm, which is a GPU minable implementation of Equihash 125,iv and tin be mined through a Flux customs pool or on a diversity of 3rd-party pools created past teams that support the Flux mining ecosystem.

The block fourth dimension on the Flux network is two minutes and the current block reward is 75 Flux, with 50% going to node operators and 50% going to miners.

On Nov. 9, the projection introduced "Low-cal Nodes," which enable Flux nodes to be managed using light wallets so that operators tin kickoff and monitor node metrics from any device capable of running the FluxNodes app.

*FLUX/USD 4-hour chart. Source:* *TradingView*

Data from Cointelegraph Markets Pro and TradingView shows that since Oct. 24 when information technology was revealed that Apple tree Pay would exist integrated with the Flux network'due south Zelcore wallet, the price of FLUX has surged 802% from $0.33 to a new all-fourth dimension high at $2.96 on Nov. 12.

While the PoW model of consensus is no longer the dominant model used by major projects in the crypto ecosystem, these iii examples show that it nevertheless has a lot to offer considering the new platforms are environmentally friendly and economically sustainable.

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