PoW (Proof-Of-Work) is the very first transaction processing algorithm on the market, which determines which blocks will be added to the blockchain chain after mining.
It is using this algorithm that it works$BTC Bitcoin.
But there are several other really interesting projects on the market that use the same algorithms.
❗️Our past articles on promising market sectors (see related ideas):
1. AI market sector. What are the growth prospects? 👉Read
2. Which market sector will show the strongest growth in the next 1-2 years? 👉Read
❓ Why will the PoW sector grow?
At the end of 2022$ETH changed the algorithm for working from PoW to PoS, which ultimately led to a huge number of video cards that can no longer mine the ETH coin.
All this freed up power needs to go somewhere. There is no point in allocating this power to Bitcoin, since the difficulty of mining a block has increased greatly and there is already too much competition within the network.
But directing power to other PoW-powered coins sounds quite logical.
🤷♂️ There are very few PoW-enabled coins on the market and most of them have low capitalization.
This means that miners can keep the price in a certain range for a long time by purchasing all assets at a low price.
And when the time comes, these miners will begin to pump the price and we already have the following examples:
1️⃣ BCH
2️⃣ SC
3️⃣ WHAT
4️⃣ BSV
5️⃣ RVN
6️⃣ DOGE
Just look at the charts of these coins on a weekly timeframe and you will understand everything yourself.
💼 Which coins are worth buying?
There are a number of coins on the market that are still trading near the bottom. Moreover, very large volumes enter all these coins at the very bottom, and the indicators are in a very cool state:
1️⃣ LTC
2️⃣ ETC
3️⃣ ZEC
4️⃣ DGB
5️⃣ WAS
We have already written full reviews about some of these coins and they should already be in your portfolio, the rest can be bought at current prices and simply average out positions during a strong drawdown.
We have no doubt that these coins will sooner or later begin to grow and show at least 3-4 x.
These projects are very much undervalued by the market and when growth begins everyone will start buying them.
This is normal, because it is psychologically more comfortable to buy during growth, but the best entry points into the market occur precisely when there is complete apathy in the coin.
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#dyor #crypto2024 #Bitcoin #PoW
