In general, when we hear Proof-of-Work coins, we immediately think of Bitcoin. However, there are plenty of other PoW coins out there. Now, in the US market, we also see many restrictions for crypto investors. Still, they also have other PoW options available.
So, we are looking at three PoW coins available in the US market. Of course, Bitcoin is not one of them! But Bitcoin is available too….Here is the difference between PoW and PoS from Binance.US.
#Blockchains are the foundation for #cryptocurrencies. They often employ one of two different governing techniques: proof-of-work (PoW) or proof-of-stake (PoS).
But what work is being proved? What’s at stake? And why does it matter?
Learn more: https://t.co/4FqweqE1oq pic.twitter.com/lxHhI9UwSr
— Binance.US 🇺🇸 (@BinanceUS) September 23, 2022
We recently put a focus on Kadena with a few new articles. That is for a reason! Because Kadena is different from most PoW blockchains. For starters, it’s scalable and second, it’s fast. Not necessarily well-known features we tend to combine with PoW chains.
Another interesting aspect of Kadena is that they use dual layer technology. In other words, two chains with different use cases. Avalanche, for example, has something similar. They use a platform chain (P-Chain) and contract EVM chain (C-Chain).
Kadena’s two chains are,
- Chainweb – The layer 1 chain. This is where you find the PoW algorithm. It’s also where the mining happens. It uses sharding for scalability. Think of sharding as a big gas station in a busy neighborhood, where only one pump is available. This leads to a massive queue. However, with sharding, the gas station opens up more pumps and the queue disappears.
- Kuro – Here you find a Byzantine Fault Tolerance algorithm. This supports the scalability of the platform. It also accommodates fast transactions.
Kadena has some more interesting features. You can find more detailed information on these in our recent Kadena article.
Congrats to @hypercentpad for successfully launching their #NFT marketplace in the @kadena_io ecosystem!
It's great seeing amazing projects like Hypercent demonstrate the limitless potential of our technology and showcase the features #marmalade brings to the future of NFTs https://t.co/C84fx2yTIy
— Kadena (@kadena_io) March 7, 2023
RavenCoin forked from Bitcoin using its code. It also uses open-source code now. Unlike Bitcoin, its max supply is not 21 million but 21 billion coins. The RavenCoin platform offers you the chance to create and transfer tokens. However, what sets RavenCoin apart is that these new tokens stand for real-world assets. For example,
- Land deeds.
- Event tickets.
- Or Air miles.
As the token creator, you have full control of how you issue the new tokens. For instance, as security or as a collection. Or how about the number of tokens? You decide over the properties of each token that you create.
In contrast to Bitcoin’s 10-minute block time, RavenCoin’s block time is only 1 minute. The platform also uses a different algorithm. This is KAWPOW. It decentralizes mining even more. For mining purposes, you don’t need specialized hardware. On the contrary, you can mine using your gaming GPU. In other words, it’s an easy entry into mining RVN. The block reward is 2500 RVN per block.
As a token creator, you can also include messaging into your code. This allows you to let all or specific holders know about upcoming events. For example, voting on new proposals.
Multiple people are behind this account. We grew up on different continents and have very different (geo)political beliefs.
Yet, we support the same decentralized blockchain project.
We tweet our own beliefs about Ravencoin and we do not moderate each other.
This is the way. pic.twitter.com/UCwslZkazk
— Project Raven 🦅/ RVN / Ravencoin (@Ravencoin) March 10, 2023
DigiByte is a real crypto OG. It launched way back in 2014. For a PoW chain, it boasts some great features. For example,
- It produces blocks every 15 seconds.
- TPS (transactions per second) is at 1066.
- Low fees, less than $0.01 per transaction.
That doesn’t sound like your typical PoW blockchain, now, does it? DigiByte offers you, among other things, the following features,
- Launch applications.
- Issues dapps.
- Use digital IDs.
In the meantime, It offers a high security. DigiByte uses no less than five different mining algorithms to achieve this. For example, one of these algorithms is Odocrypt. Every 10 days, it changes the algorithm. As a result, it builds and maintains ASIC resistance. Like RavenCoin, you don’t need any specific hardware. You can mine DGB with consumer level hardware.
DigiByte uses three different layers. For instance,
- Application layer – Anyone has access to this layer. It provides access to all dapps, and you can use the DGB token here.
- Consensus layer – This is where miners release new DGB tokens and record transactions.
- Network layer – This is the foundational layer. You can find here, for example, operating procedures or communication definitions.
DigiByte has a max supply of 21 billion DGB tokens. Each month releases 1% less DGB tokens. However, for the time that this project has been around, it’s not well-known. Here’s a short introductory video about DigiByte.
We looked at 3 PoW coins that you can buy in America. Something to explore for our US readers. We looked into Kadena (KDA), RavenCoin (RVN, and DigiByte (DGB).
All three coins are available on a few exchanges. That’s including Binance.US for our American readers. Also, did you know that on Binance US you can get whitelisted for the Cristiano Ronaldo first official NFT collection?
⬆️ You can receive his free souvenir NFT and earn $500. Just click this link and type ALTCOINBUZZ as promo code.