bitcoin remains the leader bitcoin-proof-of-work-dominance-rises-to-94/” rel=”nofollow”>proof of work blockchain and has already made massive moves over the years, with countless millionaires at the same time. However, since the price of bitcoin has already moved so much, the upside is quite limited, especially for cryptocurrency investors who do not have enough purchasing power to make an investment in bitcoin worthwhile.
In this sense, altcoins offer the best opportunity for smaller and retail investors to make the most money. But not just any altcoin; These coins also employ the proof-of-work mechanism, just like bitcoin, making them a good option, especially when they are newly launched.
QUBIC: a proof-of-work coin like bitcoin
The Qubic coin (QUBIC) is already circulating on social media platforms like X (formerly Twitter) and with good reason. The blockchain uses a proof-of-work mechanism like bitcoin. Led by IOTA co-founder Dominik Schiener, it has already gained a reasonable following based on Schiener’s reputation.
The coin is still trading well below $0.1, which could make it a good long-term buy. With a current circulating supply of 71.425 trillion, its current market capitalization stands at around $200 million. According to reports, 16% of the total supply has already been burned.
Nexa (NEXA) leads POW altcoins
Next (NEXA) is another proof-of-work blockchain, but unlike bitcoin, it uses the UTXO layer. This means that Nexa is a proof-of-work blockchain that can also support native tokens and smart contracts. To mitigate the scalability problem often faced by companies like bitcoin and ethereum-spot-etf/” rel=”nofollow”>ethereumNexa uses UTXO signatures and lookups.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2023/11/3-Bitcoin-Like-Proof-of-Work-Altcoins-That-Could-Make-You-a-Millionaire" alt="Tradingview.com NEXA Price Chart (bitcoin Altcoins Proof of Work)” width=”2650″ height=”1530″ loading=”lazy”/>
NEXA price at $0.000013 | Source: NEXAUSDT on Tradingview.com
The Nexa token is currently trending below one cent with a market capitalization of around $35 million at the time of writing. Given the kind of run Kaspa (KAS) had even through a bear market, it puts into perspective the opportunity this token offers.
Firo (FIRO)
Firo (FIRO) is another proof-of-work coin that is also very promising among altcoins that fall into this category. It was renamed ZCoin and is a privacy-first coin, meaning it combines two of the most sought-after attributes right now in the cryptocurrency market.
It is priced at $1.87 with a fully diluted market cap of less than $40 million. This makes it the coin on this list with the lowest fully diluted market cap. Its price has remained relatively stable over the past week, which could suggest that accumulation is occurring before a potential breakout.
