Post
Topic
Board Development & Technical Discussion
Re: Why exactly is Bitcoin clinging to PoW?
by
Pmalek
on 24/06/2021, 13:14:44 UTC
Look in the top 5 coins on CMK, only bitcoin is holding on to PoW, none of the rest are, so PoW has already lost.
Has it really lost? While you check the Top 5 coins on CoinMarketCap, you might want to take a glance at the top of the site where it says 'Dominance'. Bitcoin's dominance is currently at 46.5%, but I have seen it at 50% and even over 55%. What that tells you is that the POW-powered bitcoin has a market capitalization almost as big as all the other 10.000 coins and tokens. Just because many coins use a POS consensus, even those in the top 10/top 5, that doesn't make them better when the stats show that bitcoin beats them by a mile.