Ethereum recently announced that it would be moving to a Proof of Stake consensus algorithm sometime in 2018. Currently, the project is about to launch the mainnet after years of testing by end of September. Before this transition takes place, we’re taking a look at some projects that are well-suited to be integrated into Ethereum’s new PoS platform once it moves from its current Proof of Work algorithm.
Wanchain is a cryptocurrency that enables cross-chain transfers. This means you can transfer tokens from one blockchain to another without needing a centralized exchange. Wanchain is also working on implementing privacy features, making it a good choice for those looking for an alternative to Ethereum.
Komodo is a project that focuses on providing security and anonymity for blockchain transactions. In addition to being one of the first projects to offer atomic swaps, Komodo also has a decentralized exchange (DEX) called BarterDEX. With a strong focus on privacy and security, Komodo is a great project for miners looking to stay involved in the cryptocurrency space after Ethereum’s move to Proof of Stake.
NEO is a blockchain platform and cryptocurrency enabling digital assets and smart contracts development. NEO is often referred to as the Chinese Ethereum because of its similarities to Ethereum. However, NEO has key differences, such as a different consensus mechanism (Delegated Byzantine Fault Tolerance). NEO also supports an identity protocol, allowing real-world assets to be digitized.
1. Ark is a very similar project to Ethereum in terms of its goals and vision.
2. The team behind Ark is very experienced and has a lot of good partnerships.
3. Ark is already well-established and has a strong community following.
4. The move to proof of stake will be good for Ark because it will help the project become more decentralized.
5. Proof of stake will also help Ark become more scalable in the long run.
Cardano is a project that is very similar to Ethereum in many ways. It is a smart contract platform built on a new blockchain. Cardano uses a new proof-of-stake algorithm called Ouroboros. This algorithm is more energy efficient than proof-of-work, which means that it will be cheaper to run a node on the Cardano network. The team behind Cardano is very experienced and has a lot of experience in cryptocurrency.
ICON is a project that is often compared to Ethereum. It is a platform that allows for the creation of decentralized applications. Like Ethereum, it uses a proof-of-stake consensus algorithm. ICON also has its cryptocurrency, ICX.
Decred is a project that is very similar to Ethereum in many ways. It is a decentralized platform that allows for the creation of smart contracts and dapps. However, Decred uses a hybrid proof-of-work/proof-of-stake consensus system. This means that miners can still earn rewards for their work, but they must also stake their coins in order to participate in the consensus process.
Siacoin is a decentralized storage platform that allows users to rent out extra hard drive space. With Siacoin, miners can earn rewards for providing storage to the network. The project is well-funded and has a strong team behind it. Siacoin has already been integrated into several popular services, making it a good option for those looking for altcoins with real-world utility.
Stratis is a powerful and flexible blockchain development platform designed for the needs of real-world enterprises and financial services. With its native support for C# and the .NET framework, Stratis brings the strengths of these established technologies to the blockchain world. Stratis also supports sidechains, which allow for the creation of private or semi-private blockchains that are still connected to the main Stratis chain.
PIVX is a community-centric cryptocurrency with a focus on privacy, decentralization, and real-world use. While PIVX started as a fork of DASH, it has since made significant changes to its codebase and governance model. PIVX is one of the few proof-of-stake coins that allows users to stake anonymously. It also offers cold staking, which allows users to earn rewards even if they’re not actively participating in the network.
Whive is an open-source & peer-to-peer blockchain protocol that incentivizes the building of sustainable distributed energy solutions through trustless rewards powered by the Yespower algorithm. The Whive protocol is powered by an Optimized Yespower algorithm which ensures GPU & ASIC processors are not able to successfully mine blocks, thus favoring CPU machines like laptops. The Whive protocol’s mining is biased towards smaller mobile computing devices(CPUs) built on the ARM architecture to encourage fast & sustainable growth of the distributed energy sector.