{"id":366293,"date":"2021-11-13T02:45:00","date_gmt":"2021-11-12T23:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/altcoin-roundup-3-proof-of-work-protocols-focused-on-building-web-3-0\/"},"modified":"2021-11-13T02:45:00","modified_gmt":"2021-11-12T23:45:00","slug":"altcoin-roundup-3-proof-of-work-protocols-focused-on-building-web-3-0","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-3-proof-of-work-protocols-focused-on-building-web-3-0\/","title":{"rendered":"# Altcoin Roundup: 3 Proof-of-work protocols focused on building Web 3.0"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a37b89983594\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a37b89983594\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-3-proof-of-work-protocols-focused-on-building-web-3-0\/#Helium\" >Helium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-3-proof-of-work-protocols-focused-on-building-web-3-0\/#Kadena\" >Kadena<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-3-proof-of-work-protocols-focused-on-building-web-3-0\/#Flux\" >Flux<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/altcoin-roundup-3-proof-of-work-protocols-focused-on-building-web-3-0\/#Want_more_information_about_trading_and_investing_in_crypto_markets\" >Want more information about trading and investing in crypto markets?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Altcoin Roundup: 3 Proof-of-work protocols focused on building Web 3.0 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The proof-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 popular projects in the early fledgling years of the crypto ecosystem.<\/p>\n<p>As time progressed, other consensus models like proof-of-stake (PoS) rose in popularity, especially as the cost of running mining rigs, the constant need to update equipment and environmental concerns led to the PoW model falling out of favor with many.<\/p>\n<p>As a result, projects looking to employ a proof-of-work model have had to adapt to stay aligned with the demands of the wider market. This has led to the emergence of projects that offer a more environmentally and economically friendly <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach to PoW, while also aiming to build Web 3.0.<\/p>\n<p>Let\u2019s take a look at some of the projects that allow people to contribute their resources toward securing the network and earn a yield in the process. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Helium\"><\/span>Helium<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Helium is a decentralized blockchain-powered network for the Internet of Things (IoT) devices that utilizes a global network of low-energy wireless \u201chotspots\u201d that broadcast data via radio waves to be recorded on its blockchain. <\/p>\n<p>The network uses a new work algorithm that has been dubbed \u201cproof-of-coverage\u201d to validate that hotspots are providing legitimate wireless coverage and that miners receive the platform\u2019s native HNT token for helping to provide coverage for the network.<\/p>\n<p>The Helium network saw tremendous growth throughout 2021. Currently, there are more than 309,000 nodes in operation. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/33a88e08-5ed1-4d1a-8135-1fffe220f180.png\"><figcaption style=\"text-align: center;\"><em>Helium network statistics. Source: Helium<\/em><\/figcaption><\/figure>\n<p>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. <\/p>\n<p>On Oct. 26, Helium announced that it had partnered with the satellite television company Dish Network, making Dish the first major carrier to join the Helium network and offer its subscribers the opportunity to run Helium nodes in exchange for HNT tokens. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/cf2bda28-bd0d-48a1-bf96-67ea1dc96144.png\"><figcaption style=\"text-align: center;\"><em>HNT\/USDT 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Shortly after these developments, HNT price rallied to a new all-time high at $53.11 on Nov. 9.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Kadena\"><\/span>Kadena <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kadena (KDA) is a scalable PoW layer-one blockchain protocol that claims to be capable of processing up to 480,000 transactions per second (TPS) thanks to the use of braided chains. <\/p>\n<p>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 language called Pact. <\/p>\n<p>Being smart contract capable means that the Kadena network is capable of hosting decentralized finance (DeFi) and nonfungible token (NFT) protocols, as well as a host of other specialized projects from stablecoins to payment processors. <\/p>\n<p>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 \u201ccrypto gas station\u201d feature that lets businesses create accounts that exist to fund gas payments on behalf of its user base when certain conditions are met. <\/p>\n<p>Kadena utilizes the Blake (2s-Kadena) algorithm as its consensus model which requires native ASIC miners and cannot be mined using GPUs or CPUs. <\/p>\n<p>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.<\/p>\n<p>In the future, the team behind Kadena also has plans to add cross-chain support for other popular blockchain networks including Terra, Polkadot, Celo and Cosmos. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/f4824871-0b2e-4e5d-be61-f87c306f541f.png\"><figcaption style=\"text-align: center;\"><em>KDA\/USD 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> 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 high at $28.44 on Nov. 11. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Flux\"><\/span>Flux<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Flux (FLUX) is a native GPU mineable PoW protocol that is focused on scalable decentralized cloud infrastructure for Web 3.0 applications. <\/p>\n<p>According to the project, the Flux ecosystem is comprised of a suite of decentralized computing services and blockchain-as-a-service solutions which offer an Amazon Web Services-like development environment, as well as the FluxOS second-layer operating system that is capable of running \u201cany hardened dockerized application.\u201d<\/p>\n<p>The Flux network uses the ZelHash algorithm, which is a GPU minable implementation of Equihash 125,4 and can be mined through a Flux community pool or on a variety of third-party pools created by teams that support the Flux mining ecosystem.<\/p>\n<p>The block time 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.<\/p>\n<p>On Nov. 9, the project introduced \u201cLight Nodes,\u201d which enable Flux nodes to be managed using light wallets so that operators can start and monitor node metrics from any device capable of running the FluxNodes app. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/acbef609-d2f0-4e86-be3c-5966e3ca70e6.png\"><figcaption style=\"text-align: center;\"><em>FLUX\/USD 4-hour chart. Source: <\/em><em>TradingView<\/em><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that since Oct. 24 when it was revealed that Apple Pay would be integrated with the Flux network\u2019s Zelcore wallet, the price of FLUX has surged 802% from $0.33 to a new all-time high at $2.96 on Nov. 12. <\/p>\n<p>While the PoW model of consensus is no longer the dominant model used by major projects in the crypto ecosystem, these three examples show that it still has a lot to offer because the new platforms are environmentally friendly and economically sustainable. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Want_more_information_about_trading_and_investing_in_crypto_markets\"><\/span>Want more information about trading and investing in crypto markets?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<ul>\n<li>Helium (HNT) gains 40% after $111M fundraise and 100K active nodes milestone<\/li>\n<li>Private, public and consortium blockchains: The differences explained<\/li>\n<li>Crypto sustainability and green solutions highlighted at COP26<\/li>\n<li>Crypto\u2019s climate impact: Are carbon offsets good enough?<\/li>\n<li>The future of the vast oil and gas industry depends on blockchain<\/li>\n<\/ul>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/altcoin-roundup-3-proof-of-work-protocols-focused-on-building-web-3-0\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Altcoin Roundup: 3 Proof-of-work protocols focused on building Web 3.0 &#8221; The proof-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 popular projects in the early fledgling years of the crypto ecosystem. 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