Proof-of-Stake coins are climbing at ATHS at the weekend

While Bitcoin and a large part of the crypto market collapsed last week, some of the more energy-efficient proof-of-stake coins reached new heights

Elon Musk added the fud (fear, uncertainty and doubt) at the cryptomarkt when he Due to concerns about the use of fossil fuels in Bitcoin mining and in transactions, no more Bitcoin payments would accept.

These concerns have existed since the start of Bitcoin and have some advantages. 65% of the Bitcoin-Hashrate comes from China, where approximately 78% of energy consumption was supplied with fossil fuels in 2019.

The energy consumption of Bitcoin mining is still considered less than the power consumption of the physical bank branches in the USA. However, this fact did not contribute to the price of the cryptocurrency, since Bitcoin fell by almost 16% in the two hours after Musks Tweet.

Bitcoin continued at the weekend and reached a low of $ 43,825 on Sunday and took a large part of the cryptom market. However, some coins were able to resist the trend.

While Bitcoin uses a consensus mechanism to prove the work, cryptocurrencies in which proof of use is used consume far less energy, and some of them set new all -time highs (ATHS) at the weekend.

One of the biggest winners among the most important cryptocurrencies last week was Polygon (Matic), which increased by 78% and set a new ATH of USD 1.89 on Saturday. Polygon is an Ethereum scaling platform secured by proof-of-stake. The latest increase was probably supported by the recent migrations of various Ethereum projects to polygon, which is still acting as a proof-of-work chain.

Another strong performer was Cardano (ADA), who rose by 30% last week and reached its current ATH of USD 2.47 on Sunday. Cardano is secured by the Ouroboros protocol to prove the use, which is said to be more energy-efficient than Bitcoin. Last week the Cardano Foundation emphasized its similarities to Tesla on Twitter Moch height to Elon Musk.

Another trendbucker was Kusama (KSM), who gained 13% on Friday before reaching an ATH of USD 618.36 on Saturday. Kusama is the live test network for Polkadot (which also set up a new ATH on Saturday) and inherits its nominated proof-of-stake mechanism. A likely driver of the latest rally is the upcoming publication of Kusama case umbrellas and the need that KSM token coordinate as to which projects should get a place on them. In addition, there is fewer KSM on the free market than More than half The token-care is now being stopped.

Since the public is becoming increasingly environmentally conscious, the energy efficiency of proof-of-stake blockchains and its often lower transaction fees could inspire further demand for this and other proof-of-stake cryptocurrencies in the future.