Is POW algo abandoned?

[Dariusburst]

Have new projects abandoned proof of work algorithm or what? I can't find a single new project that is minable today, I'm only seeing junks, things are way different now compared to few years back, I was able to make profits out of mining few new coins, although some were dead, the reason why I'm looking for new coins to mine is difficulty rate, they will be lower comparing to mining ETH, kindly give advice

[chip1994]

PoW is an old algorithm and the crypto market has entered a new stage of staking or farming.  In my opinion, Staking is still a very good way for us to make a profit on the top altcoins during this bull run.
You can participate in Staking at Binance exchange because I see it as the most prestigious platform that we should deposit money.  Below is the information link for potential altcoins using the Staking service on Binance.
https://www.stakingrewards.com/savings/binance-staking

[montaga]

In 2014 coins where rushed out because they where late, how can you start a new pow coin today?
2014 was the heyday for PoS all new where PoS, none survived in a meaningful way.
That would have to be the scam of all scams to tweak the numbers in such a way to be competitive.
PoW is not even an algorithm

[winrate.io]

Relax, proof of work (PoW) is not dead, yet but it all comes down to potential risks and rewards. Looking at things objectively, the risks and disadvantages outnumber the upsides of mining at this point. But if you are interested in mining for fun or educational purposes, then go for it

[Smitty Werben Man Jensen]

Have new projects abandoned proof of work algorithm or what? I can't find a single new project that is minable today, I'm only seeing junks, things are way different now compared to few years back, I was able to make profits out of mining few new coins, although some were dead, the reason why I'm looking for new coins to mine is difficulty rate, they will be lower comparing to mining ETH, kindly give advice

Indeed, more and more PoW algorithms become PoS, like Ethereum does,
either I also think it's better PoS or DPoS, because the POW algorithm is expensive,
but when it comes to abandonment, PoW is still gaining popularity, and will not be abandoned easily

[TanakabZX]

PoW is an old algorithm and the crypto market has entered a new stage of staking or farming.  In my opinion, Staking is still a very good way for us to make a profit on the top altcoins during this bull run.
You can participate in Staking at Binance exchange because I see it as the most prestigious platform that we should deposit money.  Below is the information link for potential altcoins using the Staking service on Binance.
https://www.stakingrewards.com/savings/binance-staking

OP asked question about POW and he/she isn't looking for better way of making money, he is looking for proof of work answers not Staking and again some don't know that staking can be less profitable too, while you are staking a particular coin the value might dump on exchange which will affect your Staking earnings and some POS coins even became worthless just in few months time

[TanakabZX]

Have new projects abandoned proof of work algorithm or what? I can't find a single new project that is minable today, I'm only seeing junks, things are way different now compared to few years back, I was able to make profits out of mining few new coins, although some were dead, the reason why I'm looking for new coins to mine is difficulty rate, they will be lower comparing to mining ETH, kindly give advice

I will like to know the exact algorithm that your mining rig is mining or can mine, I am into cryptonight algorithm only and I can give you some guidances if you are interested, presently I'm mining turtle coin
and iridium because of their low difficulty rate, if this is what you are looking for then go to https://crypt0.zone/coins/cryptonight

There are also other algorithms available like Ethash or EquiHash and others, changing algo in the web will show you both old and new coins you can mine

[btcltcdigger]

Have new projects abandoned proof of work algorithm or what? I can't find a single new project that is minable today, I'm only seeing junks, things are way different now compared to few years back, I was able to make profits out of mining few new coins, although some were dead, the reason why I'm looking for new coins to mine is difficulty rate, they will be lower comparing to mining ETH, kindly give advice

Well lately 99% of project go the easy way and just create a token on ETH network.
And the ones that do have their own blockchain and POW are clones, usually cloned from Litecoin

[joseyphil82]

I noticed it as well, majority of new projects are now using ERC20 blockchain, there is not much separate blockchain projects this days like two years ago I guess developers like the easiest way out now, even in 2017 many Monero cloned projects that are running on cryptonight algorithm have been abandoned or died, only very few survived, it's better to keep mining popular coins because you won't see new POW coins

[Stanlo]

Most new projects don't use POW algorithm anymore because staking is getting more popular and easier nowadays, the only new project that one can mine right now is Veil privacy coin, this project just upgrade to a ProgPow mining algorithm and it's quit profitable, the mining difficulty is still fair but within weeks the difficulty will increase alot, it's already available on whattomine website

[covfefe_]

Have new projects abandoned proof of work algorithm or what? I can't find a single new project that is minable today, I'm only seeing junks, things are way different now compared to few years back, I was able to make profits out of mining few new coins, although some were dead, the reason why I'm looking for new coins to mine is difficulty rate, they will be lower comparing to mining ETH, kindly give advice

It's being abandoned for good. Bitcoin would always be a POW and many people criticize for the power hungry approach of running the network. We don't need another bitcoin. Ethereum going POS is a good move as it need to be cheap to maintain for it to be utilized as utility token. Monero would be another leader in POW and ETC too would probably keep using it. It means though there would not be new projects getting into POW, a few would keep on dominating.

[mnporter2001]

Have new projects abandoned proof of work algorithm or what? I can't find a single new project that is minable today, I'm only seeing junks, things are way different now compared to few years back, I was able to make profits out of mining few new coins, although some were dead, the reason why I'm looking for new coins to mine is difficulty rate, they will be lower comparing to mining ETH, kindly give advice

Indeed, more and more PoW algorithms become PoS, like Ethereum does,
either I also think it's better PoS or DPoS, because the POW algorithm is expensive,
but when it comes to abandonment, PoW is still gaining popularity, and will not be abandoned easily

I don't think so, PoW will soon die and Bitcoin alone will maintain it until it disappears. PoW really consumes a lot of miner cost and there are a lot of operations that need to be done before mining, in general PoW is quite a bulky version.
We should be familiar with PoS, which is currently being used by a lot of major altcoins and this algorithm will help us to have passive income without having to worry about any other external costs. It is quite similar to opening savings books at banks but this is an investment and the interest rate will be higher.

[Winscosinally]

Have new projects abandoned proof of work algorithm or what? I can't find a single new project that is minable today, I'm only seeing junks, things are way different now compared to few years back, I was able to make profits out of mining few new coins, although some were dead, the reason why I'm looking for new coins to mine is difficulty rate, they will be lower comparing to mining ETH, kindly give advice

Then you aren't looking enough, the problem with new coins with mining algorithm is they are less popular, here are few new coins you can mine right now

1. Quantum Resistance Ledger    ( RandomX Algorithm )
2. Zen protocol.                (Sha3 Algorithm)
3. Tritanium              (cryptonight-turtle-light algorithm)
4. Talleo (TLO).        ( Cryptonight Ultra Algorithm )
5. AdonNetwork.     (Argon2id algorithm)

Do your own research before mining any of this coins because there is no guarantee that they will be alive in coming months

[Psynthax]

The thing about PoW is the power it wasted just to solve a block. While with PoS you get mining power based on the coin you stake.
Both have its own disadvantage and advantage. Ofcourse PoS also has its own tradeoff which is being less secure than fully decentralized PoW.
But if every coin pursue the security and all of them uses PoW then imagine how much energy wasted each year it's just doesn't seem viable in the long run.

[Furryball]

Have new projects abandoned proof of work algorithm or what? I can't find a single new project that is minable today, I'm only seeing junks, things are way different now compared to few years back, I was able to make profits out of mining few new coins, although some were dead, the reason why I'm looking for new coins to mine is difficulty rate, they will be lower comparing to mining ETH, kindly give advice

I'm wondering why you are planning on mining new coins when we have Monero, ETH, ETC that are quite profitable right now, I have a bad experience mining new coins in 2018, they died before I was able to sell them off, my advice is if you really want to go down on this path it will be better to mine new coins that are trading on exchanges already, don't mine new coins and hold it's risky

[Squezzi55]

There are few problems with new mining altcoins

1. They lack volumes on exchanges, you can mine and open sell order and no one will buy
2. They easily get abandoned by developers after few months
3. Most new altcoins I've seen lacks good utilities, some times they are like experiment projects

Mining popular altcoins guarantees that you will be able to sell them, I know you can mine new altcoins and have 1,000,000 coins in your wallet but what good will this do for you if you can't sell the coins?

[sulis sudibyo]

POW has not been abandoned, but this system is not very good for new projects. There are many platforms that make it easy to create crypto coins, so startup companies prefer to use them. Just imagine they have to pay more just to develop their own blockchain network, not to mention that their funds are very limited and they still have to think about the costs for developing their platform. isn't it easier to use smartcontrac, than to develop your own network.

[CuriousGeorge]

POW will be the most expensive consensus and if the network can use the token itself to gain the decentralization and why not? POW is also less conservative compared with the POS consensus.
This time people are massively migrating from POW to the POS.
The majority of new projects used POS consensus. They have abandoned POW but it's not all of projects were abandoning POW.

[checkin2020]

some alts with POW algo 90% is experimental for old altcoins because hipe old alts is change algo..
so carefull if your invest on new pow algo

[DoubleAweSeven]

It's because POS gives option to casual people who wants into the gaining coin game. If you think about POW, you need physical items before you mine which means you have to maintain it and spend hard cash on it. This kind put a limit to people or potential investors. For POS, you only need to buy coins and stake, not only it is super easy to do, it also helps with increasing price. Now you see, most projects want POS because it gives them potential to attract investors that is also interested in having passive income unlike POW where if you are a casual investor, you only rely on trades for profit.