New Epoch; Proof-of-Work Tokens in the Top 10 List Disappearing

After the long-awaited transition occurs on the Ethereum Blockchain, Only two Proof-of-Work Tokens will remain among the top ten market ranking.
After the Merge, Bitcoin might remain the only Proof-of-Work token in the top ten list due to the expected price rally expected to happen.

The Crypto community is eagerly waiting for the Merge. This is when the Ethereum Blockchain is expected to transit from Proof-of-Work(PoW) to a Proof-of-Stake (PoS) consensus ecosystem. Should the Merge transpire, Bitcoin (BTC) and Dogecoin (DOGE) will be the only tokens in the top ten market ranking as Proof-of-work coins.

It’s the first time in recorded history to see three stable coins join the top 10 positions of the market cap. First to join the ranks was Terra’s own stablecoin UST, succeeded by USDT and USDC respectively. A while later UST fell off the ranks due to its price falling below $1. After UST’s de-ppeging scenario Binance Smart Chain-issued BUSD stablecoin joined the list among the mighty ten by valuation leaving a total of three stablecoins in the top ten list.

After the merge takes place, the only two tokens that will operate under the Proof-of-Work consensus ecosystem will be Bitcoin (BTC) and Dogecoin (DOGE). Well, this wasn’t the case seven years back when most coins in the top ten list were Proof-of-Work tokens

Nine years ago, When stable were not that popular back then, XRP was the only token that was a non- Proof-of-Work token and it has remained top ten to date. The other nine top ten cryptocurrencies were either Proof-of-Work or hybrid tokens. A hybrid Token means that the network runs under both Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms. The first Hybrid token to be introduced to the crypto world wasPeercoin (PPC), created by pen name developer Sunny King and best known as the ‘Grandfather ‘ of the Proof-of-Stake algorithm.

Back in 2013, The top ten was made up of Bitcoin (BTC), Litecoin (LTC), Namecoin (NMC), Peercoin (PPC), Feathercoin (FTC), Novacoin (NVC), Primecoin (XPM), Terracoin (TRC), and Infinitecoin (IFC) excluding XRP which was a non-Proof-of -Work token.

Come 2015, Ethereum made its existence officially on 30th July and joined Bitcoin BTC, LTC, DASH, DOGE, and BCN as the only Proof-of-Work tokens on the list. By that time PoS tokens were making their way into the top ten list being led by Banx shares (BANX) and Bitshares (BTS). Hybrid tokens were knocked down price-wise.

Two years after that date, BTC, ETH, BCH, LCT, and DASH, were the only PoW tokens standing out in the top ten list. Tokens such as ETC. BCH and LTC were none existent in the list. Today, the only tokens that will be left battling it out after Ethereum’s transition will be Bitcoin and Dogecoin as PoW tokens on the list.