three Bitcoin-Like Proof Of Work Altcoins That May Make You A Millionaire In 2024

Bitcoin continues to be the main proof of work blockchain and has already made huge strikes over time, with numerous millionaires on the similar time. Nonetheless, with the value of Bitcoin having moved a lot already, the upside is pretty restricted, particularly for crypto buyers who would not have ample shopping for energy to make a Bitcoin funding value their whereas.

On this vein, altcoins supply the perfect alternative for smaller and retail buyers to take advantage of cash. However not simply any altcoins; these cash additionally make use of the proof of labor mechanism, identical to Bitcoin, making them a sensible choice, particularly when they’re newly launched.

QUBIC: A Proof Of Work Coin Like Bitcoin

The Qubic (QUBIC) coin is already making the rounds on social media platforms akin to X (previously Twitter) and with good purpose. The blockchain makes use of a proof of work mechanism like Bitcoin. Led by IOTA co-founder Dominik Schiener, it has already garnered an affordable following primarily based on Schiener’s repute.

The coin continues to be buying and selling effectively beneath $0.1 which may make it an excellent purchase in the long term. With a present circulating provide of 71.425 trillion, its present market cap is at present sitting at round $200 million. 16% of the entire provide has reportedly been burned already.

Nexa (NEXA) Leads POW Altcoins

Subsequent (NEXA) is one other proof of labor blockchain, however in contrast to Bitcoin, it makes use of the UTXO Layer. Because of this Nexa is a proof of labor blockchain that can also be capable of assist native tokens and sensible contracts. To mitigate the issue of scalability typically encountered by the likes of Bitcoin and Ethereum, Nexa employs Signatures and UTXO lookups.

NEXA value at $0.000013 | Supply: NEXAUSDT on Tradingview.com

The Nexa token is at present trending beneath one cent with an round $35 million market cap on the time of writing. Given the type of run that Kaspa (KAS) had even by way of a bear market, it places in perspective the chance that lies with this token.

Firo (FIRO)

Firo (FIRO) is one other proof of work coin that additionally holds quite a lot of promise among the many altcoins that fall into this class. It rebranded from ZCoin and is a privacy-first coin, which means it mixes two of essentially the most sought-after attributes proper now within the crypto market.

Its value is $1.87 with a totally diluted market cap of below $40 million. This makes it the coin on this record with the bottom totally diluted market cap. Its value has been comparatively secure for the final week, which may recommend that accumulation is occurring forward of a doable breakout.