Altcoin Roundup – 3 Proof-ofwork protocols focusing on building Web 3.0

Web 3.0 is undergoing rapid development. These are 3 projects that offer miners significant rewards for supporting the network.
The proof-of work (PoW), consensus model, is what launched the revolution that launched Bitcoin (BTC). It was also the one that started the revolution that launched Bitcoin (BTC), in 2009. Projects that are more environmentally and economically friendly than PoW have emerged. They also aim to build Web 3.0. Let’s take a look some of these projects. HeliumHelium, a blockchain-powered network for Internet of Things (IoT), uses a global network of low energy wireless “hotspots”. These hotspots broadcast data via radio waves and record it on its blockchain. The network uses a new work algorithm called “proof-of coverage” to verify that hotspots provide legitimate wireless coverage. Miners also receive the native HNT token to help the network grow. There are currently more than 309,000 active nodes. Helium network statistics. Source: Helium. The Helium network recently expanded its capabilities with support for 5G wireless capabilities. This included the launch a new line to mine the 5G signal. Helium announced on Oct 26 that it had partnered up with satellite TV company Dish Network. This made Dish the first major carrier in the Helium network, and gave its subscribers the chance to run Helium nodes for HNT tokens. HNT/USDT 1-day chart. Source: TradingView. HNT price rose to $53.11 on Nov. 9, just after these developments. Kadena, unlike the top PoW cryptocurrency Bitcoin (BTC), also features smart contract capabilities similar those on Ethereum and its own smart contract programming language called Pact. Kadena is smart contract-capable, which means it can host decentralized finance (DeFi), nonfungible tokens (NFT), as well as a host other specialized projects such as stablecoins and payment processors. The project’s goals include addressing the major problems plaguing Ethereum networks such as high transaction costs, network congestion, and high transaction fees. It also claims to offer consumers marginal transaction fees. Additionally, it introduces a “cryptogas station” feature that allows businesses to create accounts that can fund gas payments for its user base when certain conditions have been met. Kadena uses the Blake (2sKadena), algorithm for its consensus model. This requires native ASIC miners, and cannot be mined with GPUs or CPUs. KDA recently launched a wrapped version its token called wKDA. This token can interact with all Ethereum Virtual Machine (EVM) compatible networks and associated DeFi protocols. KDA/USD 4-hour chart. Source: TradingViewData compiled by TradingView and Cointelegraph Markets Pro shows that the KDA price has risen 1,280% since Oct. 17, when it was at $2.05, to $28.44 on Nov. 11. FluxFlux (FLUX), a native GPU-mineable PoW protocol, is focused on scalable, decentralized cloud infrastructure for Web3.0 applications. 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 “any hardened dockerized application.”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.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.On Nov. 9, the project introduced “Light Nodes,” 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. FLUX/USD 4-hour chart. Source: TradingViewData compiled by TradingView and Cointelegraph Markets Pro shows that FLUX’s price has risen 802% since Oct. 24, when it was announced that Apple Pay would be integrated into the Flux network’s Zelcore wallet. This is a record high of $2.96 on November 12. Although the PoW model of consensus may not be the most popular in the crypto ecosystem, these three examples demonstrate that it still has a lot of value because the new platforms are economically and environmentally sustainable. You can find more information on investing and trading in crypto markets here. You should do your own research before making any investment or trading decision.
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