The PoW Dominance Purge — Only 6 Crypto Assets out of the Top 50 Market Caps Use Proof-of-Work

The PoW Dominance Purge — Only 6 Crypto Assets out of the Top 50 Market Caps Use Proof-of-Work


At the time of writing, only one coin in the top ten crypto assets by market capitalization is a proof-of-work (PoW) token and out of the top 20, there are only three tokens that leverage a PoW consensus mechanism. Moreover, out of 50 of the largest crypto coins by valuation, only six use PoW and out of all of them, there’s roughly 230 exahash per second (EH/s) of hashpower combined.

Only 12% of the Top 50 Crypto Assets Leverage PoW — Hashpower Currently Equates to Close to 230 Exahash

With Ethereum changing from proof-of-work (PoW) to proof-of-stake (PoS), only 12% of the top 50 coins now leverage PoW. Six crypto asset networks use PoW consensus mechanisms like SHA256 or Scrypt to verify transactions and

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