As Bitcoin Drops in Value, Proof-of-Stake Tokens That Use Less Energy See Double-Digit Gains – Markets and Prices Bitcoin News

The crypto markets have been very volatile lately and a large number of digital assets have depreciated by more than 30% in the past three days. While not all coins are performing badly in the crypto-economy, coins that do not use PoW (proof-of-work) consensus algorithms have actually performed well after the recent Tesla controversy. Distributed ledgers that use delegated validation nodes and Proof-of-Stake (PoS) blockchains have seen double-digit gains in the past few days.

Green energy wins: Cardano, Polkadot and Polygon Shine

As soon as Elon Musk and Tesla sparked the controversy over the proof-of-work consensus algorithm (PoW), some blockchains that use less energy and alternative consensus algorithms saw massive growth. For example, Cardano (ADA) hit an all-time high on Saturday at $ 2.37 per unit.

ADA is up a whopping 4,362% against the US dollar over the past 12 months. Seven-day statistics show that ADA has gained 40% and more than 18% in the past 24 hours. The Cardano network uses proof of stake and the project is supported by Ethereum co-founder Charles Hoskinson.

Meanwhile, XRP, which also doesn’t use a PoW consensus algorithm, hasn’t gained massive percentages, but has remained stable during the downturn. Ripple Labs co-founder Chris Larsen recently stated that BTC would lose its dominance if it didn’t address energy issues just before Elon Musk sparked the controversy.

Polkadot (DOT) is also a blockchain for evidence of use and, according to Musk’s statements on environmental issues, has remained profitable. The PoS Crypto-Asset DOT has seen an increase of 40% in the last seven days.

The crypto industry’s first PoS coin is brought back to life

Stellar (XLM) has done well, Polygon (MATIC) is up 25% today, and Dogecoin (DOGE) markets have remained stable as Musk recently said he was working with DOGE developers. The biggest winners on Saturday are Kicktoken (KICK + 132%), Stakenet (XSN + 91%), Origin Sport (ORS + 42%) and Peercoin (PPC + 40%).

When Bitcoin depreciates in value, proof-of-stake tokens that use less energy will see double-digit gainsPeercoin (PPC) is a cryptocurrency that uses both proof-of-stake and proof-of-work evidence and is the first blockchain to pioneer this technology. Like the inventor of the Bitcoin network, Satoshi Nakamoto, the Peercoin network was created by an anonymous developer named “Sunny King”.

In fact, the Peercoin project is the first PoS blockchain to drive distributed ledger systems without using massive amounts of energy. The token Peercoin (PPC) was called up in 2012 and referred to on the website as “green cryptocurrency for a sustainable future”. For years, PPC has faltered as the old and mostly forgotten PoS coin, but since recent concerns about PoW, the peercoin project has made a strong comeback.

What do you think of all the PoS coins that are making a profit from not using PoW? Let us know what you think on this matter in the comments section below.

Tags in this story

ada, Carbon Emissions, Cardano, Chris Larsen, Doge, DOT, Dotcom, Elon Musk, GREEN Energy, Low Energy, Matic, Peercoin, Polkadot, Polygon, PoS, PoS Chains, PoS Coins, PoS Networks, PoW, ppc, Proof-of-stake, proof-of-stake coins, proof-of-work (PoW), Ripple Labs, Stellar, Tesla

Photo credit: Shutterstock, Pixabay, Wiki Commons, Peercoin website, Tradingview,

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