Coin Bureau Lists 6 Proof-of-Stake Altcoins With Most Potential
Coin Bureau is looking into proof-of-stake (POS) altcoins and list their top assets for earning rewards and passive income.
In a recent video update, the host of crypto YouTube channel shared that he is measuring six proof-of-stake crypto assets against criteria, including minimum amount required to stake, the lockup/unlock period, slashing risk when validators fail, annual interest offered and the potential of the crypto asset to rise in price over time.
Avalanche (AVAX)
The analyst goes through the top six altcoins in no particular order of preference, starting off with layer-1 smart contract platform Avalanche (AVAX).
“Avalanche has proven itself to be one of the top alternatives to Ethereum due to its implementation of the Ethereum Virtual Machine (EVM), which is nearly 5x faster than other EVM implementations.”
Cosmos (ATOM)
Next up on the list is scalable interoperability network Cosmos (ATOM).
“Cosmos uses a novel proof-of-stake mechanism called Tendermint, which allows its blockchain to process up to 10,000 transactions per second.
Cosmos staking rewards are currently around 15% per year for delegators who must lock up their ATOM for 21 days. There’s no minimum stake, slashing penalties are minimal.”
Cardano (ADA)
The third altcoin that the analyst discusses is scalable decentralized blockchain platform Cardano (ADA), which has a POS consensus mechanism Ouroboros that enables processing hundreds of transactions per second (TPS).
“Cardano’s staking rewards are currently 5% per year, which is on the lower end of the staking rewards spectrum but comes with some seriously attractive trade-offs.
There’s no minimum stake for delegators, there’s no lockup or unlock period for any staked ADA, and there is no risk of slashing.”
Fantom (FTM)
The Coin Bureau host next highlights the fundamentals of enterprise-grade blockchain platform Fantom (FTM).
“The main reason why I hold FTM is because Fantom has some of the best developers in cryptocurrency.
Fantom is also one of the few crypto projects that has secured some serious partnerships with governments and public institutions.”
Harmony (ONE)
Next up on the list is Harmony (ONE), which the analyst likes due to its growth potential, and resilience against tough competition.
“Harmony has the most room to grow of any cryptocurrency on this list.
Unfortunately, the price history for ONE doesn’t look nearly as pretty as other altcoins in the top 100, but it remains in a relatively long-term uptrend.”
Algorand (ALGO)
The sixth and last staking altcoin on the list is the open-source, decentralized blockchain network Algorand (ALGO), which has a POS consensus mechanism to process 1000 TPS and offers 3% rewards but with no requirements from the stakers.
“This staking reward can be increased to almost 10% per year if you participate in Algorand’s governance process. Note that this percentage changes depending on various parameters.”
