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Non-mineable cryptocurrencies & their plans for the future | by Ncrypter

Ncrypter

People involved in the Bitcoin and cryptocurrency ecosystem are aware of the proof-of-work algorithm of Bitcoin. New coins can only be generated through a mining process. However, there are also non-mineable cryptocurrencies with great potential out there — such as IOTA, Ripple, Cardano, and numerous others — which are only bought rather than mined.

A PoS (proof-of-stake) type of algorithm doesnt reward participants for solving complex crypto puzzles to validate transactions and build new blocks through mining. Because of a circulating supply, the more altcoins you can hold, the better chances you have to benefit from a high interest rate. The approach is much more streamlined for cryptocurrency fans. With non-mineable PoS cryptocurrency, you buy the token (“seed”) and you hope for the “seed” to grow up into a fully-developed tree with lots of “beautiful apples” (return on investment).

Non-mineable cryptocurrencies can be highly valuable due to their limited potential to increase in size. This happens because of the constant supply. If we were to compare Bitcoin with IOTA, for example, IOTA’s overall price may increase because the supply is limited. The price of Bitcoin stagnates or devalues because new BTC have to be introduced into the market.

In the following lines, we will talk more about the 3 more popular non-mineable cryptocurrencies on the market today. Each is unique in its very own way because the aim is ultimately to make a difference to appeal to investors. Who wouldn’t want to invest in a coin that promises to takes the cryptocurrency scene to the next level?

What do you think?

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