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

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

Proof-of-work models are evolving to support the growth of Web 3.0. Here’s 3 projects that offer miners substantial rewards for supporting the network.

The proof-of-work (PoW) consensus model is the mechanism that kicked off the revolution that launched Bitcoin (

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 high at $28.44 on Nov. 11.

Flux

Flux (FLUX) is a native GPU mineable PoW protocol that is focused on scalable decentralized cloud infrastructure for Web 3.0 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: TradingView

Data from Cointelegraph Markets Pro and TradingView shows that since Oct. 24 when it was revealed that Apple Pay would be integrated with the Flux network’s Zelcore wallet, the price of FLUX has surged 802% from $0.33 to a new all-time 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 three examples show that it still has a lot to offer because the new platforms are environmentally friendly and economically sustainable.

Want more information about trading and investing in crypto markets?

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.

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