Best Proof of Work Coins to Buy in 2023

Different assets within the world of cryptocurrency are often divided by consensus mechanism (the way transactions are settled). As one of the most popular mechanisms, investing in the best proof of work coins can be an excellent strategy.

Throughout this guide, we’ll be reviewing 14 of the very best proof of work coins, explaining exactly what a proof of work (PoW) coin is, and discussing their merit as an investment. Let’s get to work.

Best Proof of Work Cryptocurrency to Buy Right Now Reviewed

In order to help investors make a better-informed decision on which proof of works cryptos are right for their portfolios, we’ve reviewed the top 13 contenders.

1. Meta Masters Guild – Newly Launched Play and Earn Coin Offering Top Rewards

Meta Masters Guild offers a play and earn ecosystem with the native token $MEMAG currently on presale. The first stage has already sold out as the ecosystem raised more than $500,000 within a week from launch.

The second stage of the presale prices the coin at $0.01 — a 43% increase in the coin’s value from the first stage. $MEMAG’s value will increase in the rest of the stages until eventually being priced at $0.023 in the seventh and final stage.

$MEMAG will enter the third stage of the presale once the hard cap of $1.12 million is reached or the remaining days lapse, whichever comes first.

This play and earn ecosystem enables players to collect rewards for time spent in the game, contributions to the ecosystem and winning challenges.

It has focused on offering players highly interactive and entertaining games that will keep them keep coming back. That will benefit players because they have more opportunities to collect rewards and the ecosystem benefits from their contributions.

Players can use their rewards to buy NFTs or exchange them for $MEMAG tokens. Holding at least $150 $MEMAG tokens on the day of the draw entitles investors to enter the $100,000 token giveaway.

Join the Telegram channel and read the Meta Masters Guild whitepaper to find out more about $MEMAG tokens.

MMG has a 1 billion token supply. It has allocated 15% to exchange and liquidity and 35% to the presale, making it the more convenient stage for investors to buy $MEMAG tokens.

2. Fight Out – M2E Coin and Platform Rewarding Users Leading an Active Lifestyle

Fight Out is a move to earn platform offering its token $FGHT during the first stage of its presale with bonus tokens.

More than $3 million has been raised in early-round fundraising, and when the $5 million hard cap is reached the bonus tokens will be removed. An initial investment of $500 will entitle an investor to a 10% bonus and an extra 10% will be granted for selecting the 6-month vesting period.

The maximum bonus is 50%. To claim it, investors need to buy $50,000 of $FGHT tokens and select the 24-month vesting period.

The first stage of the presale prices the coin at $0.0166. The second stage increases the coin’s value to $0.0333 and more appreciation will follow throughout the presale, which ends on 31 March 2023.

Fight Out rewards users for completing workouts, growing the community and earning badges. In-app currency known as REPS is offered as rewards, which users can redeem for discounts on subscriptions, merchandise and remote sessions with trainers.

The reward tokens can also be used to buy NFTs and can be redeemed for membership at gyms, which Fight Out will open in key cities around the world. Subscribe to the Fight Out Telegram channel to get the latest updates about the gym openings, and read the whitepaper to find out more about the $FGHT coins.

Of the 10 billion tokens in supply, Fight Out has allocated only 5% to exchange liquidity. The best time to buy $FGHT tokens is during the presale to take advantage of the bonus tokens and low prices.

3. C+Charge – Eco-Friendly Crypto Rewarding EV Drivers for Charging Cars

C+Charge developed $CCHG as a native token for its peer-to-peer payment platform to reward electric vehicle (EV) drivers with carbon credits after paying with $CCHG for charging their cars.

Investors have an opportunity to buy $CCHG tokens in the first stage of its presale at $0.013. After the first stage is complete, C+Charge will increase the coin’s value to $0.0165. Other stages of the presale will further increase the coin’s value.

C+Charge has allocated 40% of the 1 billion token supply to the presale. Now’s the best time to get involved in the project because of low prices and better coin availability on exchanges.

This ecosystem is on a mission to expedite the adoption of EV vehicles by democratizing carbon credits. Drivers will be able to use C+Charge’s app, which will store $CCHG tokens in its wallet, to pay for charging their cars.

The app will also track the carbon credits balance, and the geolocation feature helps drivers locate the nearest charging station. It also provides information such as charging prices and wait times.

More information about the token and the ecosystem is available on the Telegram channel and the C+Charge whitepaper.

$CCHG tokens will be listed on exchanges on 31 March 2023. Only 8% of the capped supply is allocated to exchange liquidity, so investors may be challenged to buy the coins at low prices. The presale offers convenient access to the tokens at affordable prices.

4. Dash 2 Trade – Popular Cryptocurrency Currently in Successful Presale

The D2T token offers investors several benefits, and one of them is asset appreciation. Dash 2 Trade launched D2T’s crypto presale on October 19, 2022, and raised more than $500,000 in its first 24hrs.

Investors know a good investment when they see one, and the project has now raised more than $6 million in less than a month since launching.

Investors who bought D2T tokens during the first stage of the presale will have an appreciating asset that increased in value by 39% when the presale concludes.

Then priced at $0.0476, D2T tokens are currently on sale at $0.0513 in stage 3 and will increase to $0.0662 by stage 9.

If that isn’t enough, D2T tokens unlock access to the Dash 2 Trade platform.

Investors can select between the starter and premier subscriptions to take advantage of crypto signals, market insights, on-chain analytics and more.

The Dash 2 Trade whitepaper details the benefits of subscribing to his service – the starter subscription costs 400 D2T per month, and the premier package provides access to all the features and costs 1,000 D2T per month.

Investors will be able to make use of a variety of tools, insights, data and analytics to help them make better decisions while trading and investing.

They include receiving alerts about the latest crypto presales and coins listed on new exchanges, with Dash 2 Trade scoring crypto sales according to their audits, tokenomics, utility and more.

Traders can also make use of various pro-grade measures and tools such as automated trading APIs and a backtester to test strategies in real time.

D2T is an ERC-20 token that doesn’t include any sales tax, yet owning it required to access the platform to enter trading competitions, incorporate advanced tools on charts and monitor whale wallet movements, to name a few.

Ethereum was formerly a proof of work consensus mechanism but changed to proof of stake after the Merge upgrade was complete.

The platform also enables traders to use the backtester and strategy builder tools to test out strategies in an environment that mimics real markets and develop a successful trading strategy. Investors can get more information about all the tools Dash 2 Trade offers by subscribing to the Telegram channel.

5. RobotEra – P2E Token with Multiverse Ecosystem Enabling Various Rewards

TARO is a proof of work crypto alternative that players can earn in several ways in RobotEra’s multiverse ecosystem and investors can take advantage of this appreciating asset while it’s currently in presale.

The key appeal of TARO is the various ways players will be able to earn more tokens by participation in the ecosystem.

One such way to earn is staking – players lock in their coins and earn rewards, which is vital for rebuilding the destroyed Taro planet.

Other ways players earn tokens is by selling robot companion NFTs, which can be built using in-game tools, customized and sold on the open market.

Players can also buy metaverse plots of land and increase its value by adding assets, mining minerals and cultivating sacred trees.

RobotEra players can also develop infrastructure and add buildings to the land, host events or invite players from other communities.

Players will receive rewards for partiaking in concerts, hosting events and charging admission or selling billboard space to advertisers.

RobotEra’s founders, who are doxxed and KYC-verified, also anticipate more use cases in the future, with few limitations on what players are able to build.

The RobotEra whitepaper provides a comprehensive guide about the different avenues to earn $TARO tokens – otherwise, players can subscribe to the Telegram channel to receive the latest updates.

To earn coins, players have to buy TARO tokens. The best time to do that is now, during the first stage of the presale with the coins valued at $0.02 – their value will increase to $0.025 in stage to and by a total of 60%, to $0.032, during the final stage.

TARO will be listed on exchanges after the presale ends but RobotEra has made only 3% of the 1.8 billion tokens available as liquidity for exchanges.

Once the coin is listed, it will attract more attention and possibly result in a price spike due to high demand.

Investors shouldn’t wait for the token’s price to increase and lose out on potentially huge returns.

6. IMPT – New Cryptocurrency offering Environmentally Sustainable Practices

A great cryptocurrency platform for climate-conscious individuals and businesses – IMPT aims to offset carbon emissions in the environment via its cryptocurrency – IMPT token.

Investors have rushed to buy into the project, which is another proof-of-work alternative, with nearly $13 million raised in around a month since its presale went live.

The IMPT platform allows customers to shop with thousands of companies and retailers in an effort to earn IMPT tokens – these tokens represent a percentage of the sales margin, which may differ per retailer.

After accumulating a certain amount of tokens, customers can convert these cryptos on IMPT’s marketplace for Carbon Credits NFTs, which represent carbon emissions from the atmosphere.

One Credit is equal to one ton of C02 emissions and users can choose to trade these NFTs as an investment or burn the token and remove the carbon emissions that the tokenized asset represents.

After burning a Carbon Credit, users are rewarded with unique NFTs which can be traded on IMPT’s marketplace.

In an effort to mobilize the community, IMPT will integrate a social platform where individuals and businesses can track their Carbon scores.

Impact points can be earned when one earns more IMPT tokens, or can be doubled by burning a Carbon Credit – thus, IMPT aims to revolutionize the cryptocurrency industry by introducing one of the best Carbon Offset Programs in 2023.

With a maximum supply of 3 billion tokens, IMPT offers deflationary tokenomics.

While IMPT is not a Proof-of-Work token, its deflationary nature can make it a valuable asset in the long-term. As more investors begin trading a depleting token supply, the possibility of a price rise is possible.

Currently, investors can get their hands on IMPT during the second stage of the presale for $0.023 per token, with the price set to increase to $0.028 in the final round.

To learn more about this project, join the IMPT Telegram Channel.

7. Tamadoge – Overall Best Proof of Work Cryptocurrency

Tamadoge (TAMA) is a wildly popular new meme coin that is set to disrupt the status quo by injecting a plethora of utility into a sector otherwise largely devoid of intrinsic value.

This concept has proven to be a big hit with investors as Tamadoge sold out its presale in just eight weeks before pumping nearly 2,000 over its early presale price after listing.

One of the key features of Tamadoge is its play-to-earn (P2E) game – set in a Metaverse world named the Tamaverse, players can explore and interact with each other while taking care of 3D-animated NFT-based pets, based on 90s craze Tamagotchi.

Using items attainable from the in-game store, players can level up a pet to increase their leaderboard ranking, in order to receive a greater share of the rewards pool.

In addition to the aforementioned features, Tamadoge has a locked wallet that slowly releases funds over a 10-year period to further the project’s development.

There are already plans to release a series of tokenized arcade-style games (Q3 2023) as well as a mobile app with augmented reality functionality (Q4 2023), and with much in the works, it’ll be exciting to see what gets announced next.

As an ERC-20 token, TAMA previously utilized the proof of work consensus mechanism of its parent network (Ethereum) to validate transactions before Ethereum switched to proof of stake.

While this has the benefits of added security and decentralization, it has also paved the way for seamless centralized exchange (CEX) listings. W

TAMA is now listed on various exchanges with more in the pipeline – analysts are expected this huge-potential coin to pump once the crypto markets improve.

Join the Tamadoge Telegram to learn more and stay updated.

8. Battle Infinity – New P2E Crypto Making a Big Splash

Battle Infinity (IBAT) is a P2E gaming and decentralized finance (DeFi) ecosystem that has been attracting a lot of attention recently. The project takes elements from NFTs, the Metaverse, and other trending crypto subsectors in order to appeal to a wide audience of crypto enthusiasts.

As Battle Infinity packs a lot of utility into a relatively small package, it’s split into six platforms, each hosting a different core feature. There’s a fantasy sports platform initially dedicated to Cricket but soon expanding to other sports, a Metaverse arena featuring customizable avatars, a collection of player-vs-player P2E games, an NFT marketplace, a DEX, and a staking platform.

While the Battle Infinity presale has now sold out (raising 16,500 BNB 65-days ahead of schedule), the IBAT token has recently been released on PancakeSwap. Following this launch, IBAT shot up in value by over 400% from presale prices ($0.015). As IBAT features an adjustable tax on transactions, further exchange listings can be easily implemented, making IBAT perhaps the best new cryptocurrency on the market right now.

The IBAT token utilizes the BEP-20 standard in order to facilitate fast, low-cost transactions. The token can be used to purchase in-game items, earn staking rewards, and even purchase Metaverse advertising. While IBAT uses a hybrid proof-of-stake proof-of-authority consensus mechanism, it offers an equal amount of upside potential compared to our other top picks so it remains a worthy addition.

While not a proof of work blockchain in the same sense as our other picks, Battle Infinity has proven itself to be incredibly popular. As the project has clear plans to release key functionality over the coming, it seems likely that IBAT could perform extremely well. As such, it’s worth checking out Battle Infinity today and joining the IBAT Telegram to stay up-to-date with the latest developments.

9. Lucky Block – Blockchain-Based NFT Competitions Platform

Lucky Block (LBLOCK) is a platform dedicated to hosting NFT-based prize draws with huge jackpots. The platform is interwoven with blockchain technology in order to create a fair and efficient system that rewards its users.

The project hosts a wide range of competitions with prizes including $1 million in Bitcoin, a luxury house, and even a real-life Lamborghini. Each drawing can be entered using a beautifully designed and uniquely numbered NFT attainable from the leading marketplace NFT Launchpad.

Lucky Block adheres to an ‘everyone’s a winner’ ethos. As such, each NFT entitles the holder to a portion of the prize pool each day. This ensures that nobody gets left out and provides holders with long-term value.

In late July, LBLOCK eliminated the tax on transactions and began using the ERC standard in order to pave the way for listings on centralized exchanges. So far, LBLOCK has already been listed on MEXC and Gate.io with both events boosting the price of LBLOCK substantially. Even more listings are already planned, so it’s worth stocking up on tokens before the next big announcement.

It has been announced that October on 3rd, the Lucky Block bridge will open, allowing V1 holders (BEP-2o LBLOCK) to exchange their tokens for V2 LBLOCK (ERC-based). This will do wonders for the Lucky Block ecosystem and will likely boost demand a fair bit.

All in all, Lucky Block is well deserving of its status as one of the best proof of work cryptos. It offers investors and users alike an immense amount of value and with further listings and upgrades on the horizon, there’s no better time to get involved with Lucky Block. Being one of the best cryptos to watch, it’s worth checking out the project today before new listings are announced.

10. Bitcoin – The Original Proof of Work Coin

Just about every crypto investor will have heard about Bitcoin (BTC), a decentralized transactional crypto commonly touted as being the best proof of work crypto on the planet. It was the project that spawned the crypto market and helped make it into the asset class we all love today.

The primary purpose of Bitcoin is to act as a borderless, decentralized currency that can be easily sent around the world without the need for third-party intermediaries.  This goal was achieved through the creation of the blockchain, an immutable ledger that permanently records every transaction.

Being the largest and most well-known digital asset on the planet, Bitcoin is arguably the best cryptocurrency on the market. With that said, smaller cap projects like Tamadoge and Battle Infinity will typically still offer greater upside potential, so it’s advisable to create a balanced portfolio rather than investing in a singular asset.

Crypto assets are a highly volatile investment product. Your capital is at risk.

11. Litecoin – Forked Token for Transactions

Litecoin (LTC) is a popular altcoin and a forked version of Bitcoin. The project was created by Charlie Lee, an early crypto adopter as a more lightweight and user-friendly variant of Bitcoin. Released in late 2011, Litecoin is almost as old as Bitcoin and has long been a favorite among crypto investors.

With Litecoin being a direct descendent of Bitcoin, it’s no surprise that the project quickly built up steam to become one of the most widely used cryptocurrencies on the market. As Litecoin benefits from a greater throughput, quicker transactions, and lower fees when compared to Bitcoin, it has become fairly widely accepted among crypto-friendly merchants.

Litecoin is one of the largest cryptocurrencies on the market and perhaps the project most closely related to Bitcoin. Even today, over 10 years after its release, new Bitcoin forks are still being created, proving the need for a more transaction-friendly variant of the popular cryptocurrency. Litecoin fills that gap and remains a solid pick for those looking for a Bitcoin alternative.

Crypto assets are a highly volatile investment product. Your capital is at risk.

12. Zcash – Privacy-Focused Cryptocurrency

Many people believe that cryptocurrency and privacy go hand in hand. And while it’s true to a degree, most fail to realize that all the information linked to a transaction using Bitcoin or a similar crypto can be easily looked up. As not everyone wants their personal information available on the web. Zcash (ZEC) aims to change the status quo by providing crypto enthusiasts with in-built privacy tools.

In order to provide investors with a way to transact without concerns regarding privacy, Zcash settles transactions on a public blockchain like a traditional crypto, but hides key information like sender/receiver address and the amount of funds being transferred. However, unlike competitor Monero, Zcash also offers the ability to reveal these details to allow for regularity compliance.

Like quite a few of the best proof of work coins, Zcash is a forked version of Bitcoin with additional features. It has become quite popular as a Monero alternative and is worthy of consideration for privacy-focused investors.

Crypto assets are a highly volatile investment product. Your capital is at risk.

13. Dogecoin – World-Famous Meme Coin

Next on our proof of work cryptocurrency list is Dogecoin (DOGE), a massively popular cryptocurrency that birthed the meme coin trend. Despite originally being created as a joke, thanks in no small part to Elon Musk, DOGE has become a transactional cryptocurrency that shouldn’t be overlooked.

As a fork of Litecoin, Dogecoin utilizes the proof of work consensus mechanism to validate transactions, however, Dogecoin’s version of the mechanism does vary in a few key ways. Firstly, As Dogecoin has just a 1 minute block time, transactions are settled much faster than other proof of work blockchains. Furthermore, as the token has an unlimited supply, it’s suited for use as a transactional token.

While Dogecoin may have been brought into the limelight thanks to Elon Musk, it’s now built up a loyal following and grown to be one of the most popular digital assets in the world. While it’s a solid project, competition meme coin Tamadoge does offer greater room for growth as it’s still in its presale stage.

Crypto assets are a highly volatile investment product. Your capital is at risk.

14. Ethereum – Largest Smart Contract Formerly Proof of Work Blockchain

As the second largest cryptocurrency on the planet and arguably the best altcoin, Ethereum needs no introduction. It birthed both smart contracts and the ERC standard, making Ethereum’s contribution to the industry incalculable.

The primary draw to the Ethereum network is the ability to build dApps and Web3 projects using smart contracts.

This enables projects to be created far more quickly than would otherwise be possible and even comes with the added bonus of heavy decentralization and security.

Ethereum previously utilized proof of work before the Merge upgrade saw it switch to proof of stake, which increased its speed and scalability and made it 99.99% more energy efficient.

With the amount of utility offered by the Ethereum network, it’s undeniably one of the best coins on the market.

Like Bitcoin, Ethereum can be considered a blue-chip crypto and is worth considering as an addition to a balanced portfolio.

Crypto assets are a highly volatile investment product. Your capital is at risk.

15. Bitcoin Cash – Transactional Version of Bitcoin

Bitcoin Cash (BCH) is a variant of Bitcoin designed specifically as a transactional currency.

It utilizes a peer-to-peer network to allow users to transfer funds between one another and aims to become the de facto currency for global transactions.

In order to work well as a transactional cryptocurrency, Bitcoin cash focused on reducing the time and cost required to send funds on the network. To achieve this, the project increased block size allowing more transactions to be settled simultaneously.

Bitcoin Cash is one of the best proof of work coins on the market and one of the largest cryptocurrencies overall. While there are quite a few Bitcoin forks designed for everyday transactions, Bitcoin Cash is one of the most popular and could perform well if it’s picked up by more establishments.

Crypto assets are a highly volatile investment product. Your capital is at risk.

16. Nervos Network – Open-Source Layer-1 Blockchain

Last on our proof of work cryptocurrency list is the Nervos Network (CKB), an open-source proof of work blockchain and ecosystem consisting of a huge range of protocols.

As it stands today, applications created on different networks struggle to interact with each other. However, Nervos Network aims to change this by providing developers with a host of tools designed to facilitate the creation of universal apps. With interoperability being a large technology barrier to crypto, this could be huge for furthering the adoption of the asset class.

Overall, the Nervos Network is a massively interesting project and one of the best penny cryptos currently available. Few proof of work cryptocurrencies offer as much ingenuity as the Nervos network, so it’ll be exciting to see how many developers adopt the Nervos tool suite.

What is a Proof of Work Crypto?

While it can be rather difficult to decipher the meaning behind crypto-specific terminology, when explained clearly, we’re confident that anyone can understand exactly what a proof of work crypto is.

Firstly, it’s important to understand what a consensus mechanism is. A blockchain is essentially a ledger containing information. A consensus mechanism is a fault-tolerant system to validate that a transaction (information) is legitimate.

Proof of work is an example of a consensus mechanism. In order to ensure that transactions are valid, proof-of-work cryptos allow validators to use computational resources to solve puzzles in order to prevent a bad actor from sending false transactions.

The process of validating transactions using computing power is typically referred to as mining. After downloading the necessary software and a copy of the blockchain, an individual can use their computer to solve puzzles (thereby validating transactions) in order to receive crypto rewards.

Proof of Work vs Proof of Stake

Two of the most common types of consensus mechanisms are proof of work and proof of stake (PoS). While both achieve a similar goal (securely validating transactions) the way this goal is achieved differs a fair bit.

While proof of work coins incentivize miners to validate transactions by solving complex puzzles, proof of stake coins select a random person staking a specific amount of tokens to ensure the transaction is legitimate.

Each type of consensus mechanism has its own benefits and drawbacks.  The main arguments for proof of stake over proof of work are superior throughput, lower fees, and less energy expenditure.

With this in mind, it might seem like a no-brainer that PoS is the better consensus mechanism, it has an incredibly high barrier to entry. Ethereum, for example, requires a validator to own 32 ETH. Therefore, even at today’s prices, it would take over $50,000 to become a validator whereas using a proof of work, all that’s required is a decent computer.

With proof of stake coins having such a comparatively higher barrier to entry, it can result in the network being solely governed by those with large capital reserves, something that cryptocurrency was initially trying to change. Only time will tell which consensus mechanism is proven to be better, so it’s worth understanding the benefits and detriments of both.

Are Proof of Work Coins a Good Investment?

As one of cryptocurrency’s main uses is as an investment vehicle, it makes sense that people would wonder whether the best proof of work coins make good investments. Below, we’ve summarized a few key points why proof of work projects can make excellent investments.

Decentralization 

Decentralization is undeniably at the core of the crypto ethos and proof of work offers a greater level of decentralization than other consensus mechanisms. As crypto was designed to give power back to the people, it makes sense that a way of governing transactions with minimal barrier to entry would be popular.

Many crypto enthusiasts believe that proof of work blockchains are better for the average person than alternative consensus mechanisms and as buyer sentiment drives the market, proof of work coins can perform well.

Prestigious Roots

While cryptocurrency is a rapidly evolving industry, many of the largest and best-performing projects utilize proof of work. Bitcoin, Ethereum, and a large portion of the top 30 digital assets utilize the consensus mechanism. As the saying goes, ‘follow the money’, if the biggest and best projects utilize proof of work, it’s likely beneficial and as such, gives an investment a greater chance of paying off.

Tried and Tested

PoW has stood the test of time for more than 10 years. While new mechanisms are springing up constantly and promising phenomenal throughout and minuscule fees, few will actually enjoy mainstream adoption. The reality is, that these new mechanisms simply haven’t been tested as much as PoW which can lead to issues surrounding security and decentralization down the line. As such, PoW projects can make better long-term investments.

How to Buy Proof of Work Crypto

In order to make buying the best proof of work crypto a breeze, we’ve outlined the entire process below.

Step 1: Open a Cryptocurrency Wallet 

Investors can begin by downloading a cryptocurrency wallet that is compatible with ERC-20 tokens such as $MEMAG.

For example, MetaMask is a popular crypto wallet which will allow you to connect with the Meta Masters Guild presale platform.

Step 2: Purchase ETH/USDT Tokens

An ERC-20 token, $MEMAG can be bought with cryptocurrencies such as Ethereum and USDT. Purchase one of these cryptocurrencies from a suitable cryptocurrency exchange and transfer them to your crypto wallet.

Step 3: Connect to the MEMAG Presale

Head over to the Meta Masters Guild website and click on ‘Connect Wallet’.

Choose your cryptocurrency wallet and then connect to the MMG presale with either ETH or USDT tokens. Complete the step after foll0wing the instructions that appear on the screen.

Step 4: Buy $MEMAG Tokens on Presale

After the wallet is connected, purchase $MEMAG tokens by selecting ‘Convert ETH’ or ‘Convert USDT’ and enter the amount of $MEMAG tokens you wish to receive.

Conclusion

Throughout this guide, we’ve taken a look at some of the best proof of work coins on the market, explained what a proof of work token is, and discussed how it stacks up to competing consensus mechanisms.

However, throughout our research, we determined that one particular asset – a proof of work alternative – offered the most room for growth.

Utility-centric coin $MEMAG has been making waves recently and with this project, investors who buy the token will be eligible to enter the $100,000 token giveaway.

Meta Masters Guild - Next Big Crypto Game

Our Rating

• Backed by Leading Game Studios
• Early Round Presale Live Now
• Low Hard Cap, No Vesting
• Playable NFTs, Rewards, Staking
• Solid Proof & CoinSniper Audited

Learn More

FAQs

What coins use proof of work?

A plethora of coins use proof of work. The most well-known example is crypto titan Bitcoin. However, a wide range of Bitcoin forks exist and also utilize the consensus mechanism. 

Is Bitcoin the only proof of work coin?

No, although Bitcoin might be the most widely-known proof of work coin, it’s not the only cryptocurrency to use the consensus mechanism. A variety of Bitcoin forks, ERC tokens, and layer-1 blockchains all utilize PoW.

Is Ethereum a proof of work coin?

Right now, Ethereum uses a hybrid proof of work and proof of stake consensus mechanism. However, after the upcoming Ethereum merge, the network is set to shift to proof of stake.

Is XRP proof of work?

XRP doesn’t use proof of work to validate transactions. Instead, the cryptocurrency uses a network of specialized nodes to ensure transactions are legitimate.

What is the best proof of work crypto?

While each of the projects we’ve reviewed is a solid PoW crypto, there was one clear winner. IMPT simply offers far more upside potential than other projects, making it the best PoW crypto.

  This article was written for Business 2 Community by Jay Leonard.
Learn how to publish your content on B2C

---

Author: Jay Leonard

Jay is a UK-based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. Jay has a great deal of hands-on experience in analysing financial markets and performing technical analysis. Jay is currently focusing on the institutional adoption of cryptocurrency and what it means for the future of …

View full profile ›