Crypto Prices on Back Foot is a Buy Opportunity for PoW Miner Tokens
The crypto market’s stagnation has prompted investors to seek alternative income streams. One way is by opting for PoW miner tokens.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
The proof of work (PoW) consensus requires miners to verify transactions on the blockchain. During the crypto market’s slump, some investors have turned to PoW miner tokens. Let’s take a closer look at the best miner cryptocurrencies.
Best PoW Miner Cryptos
The top miner cryptocurrencies we found are Ethereum Classic, Ravencoin and Ergo. Tamadoge is a great miner token alternative.
1. Ethereum Classic (ETC)
An Ethereum fork, ETC has no plans of switching to proof of stake (PoS). The project has expressed vehemently that it plans to use the proof of work consensus indefinitely.
Ethereum Classic feels that PoW provides sovereign-grade censorship resistance. Miners have rallied behind ETC after the Ethereum Merge, leaving behind the second-biggest crypto by market cap and almost doubling ETC’s hashrate.
2. Ravencoin (RVN)
Ravencoin is another fortunate beneficiary of the Ethereum Merge. Miners have abandoned Ethereum and flocked to Ravencoin. The network offers miners a block reward of 5,000 RVN and a block time of 1 minute. It has a new mining algorithm, KAPOW. That enables more decentralized mining.
Ravencoin provides a peer-to-peer platform, offering an efficient transfer of assets from one user to another.
3. Ergo (ERG)
Ergo is a smart contract platform providing users with secure and decentralized tools. Its mining is based on Autolykos, an efficient ASIC-resistant PoW algorithm. One of the key advantages for Ergo miners is the ability to participate in voting tokens, log-space mining and subpooling.
Ergo also enables miners to adjust parameters with on-chain voting. But a supermajority implements larger changes via a soft fork.
Miner Token Alternative
Consider Tamadoge (TAMA) as a way to hedge the PoW mining risk. TAMA is an ERC-20 token that’s at the forefront of Web3.0 and a big beneficiary of PoS. Its P2E feature enables players to earn TAMA tokens for grooming their pets into adulthood.
Tamadoge is currently in a presale. A TAMA token costs $0.03, a vast difference from its beta sale price of $0.01.The next stage for Tamadoge is listings on exchanges LBank and Uniswap.