Today’s reward for GPU miners is a far cry from what it used to be. Since the Ethereum merge this September, the collapse of the multibillion-dollar Ethereum PoW mining industry has forced a flood of GPU hashrate into ETC and other altcoins. According to WhatToMine, a number of coins that support GPU mining now have negative yields. Only a few coins, such as KAS and RXD, generate acceptable yields in the bear market. They are the most eye-catching GPU coins, even overshadowing the “veteran” ETC.
Source: https://minerstat.com/coins
KAS currently ranks first among the most trending coins on MinerStat.
What is this dark horse about?
Released in November 2021, KAS is the native token on the Kaspa network. Over the past year, the KAS community has attracted over 10,000 active members, thanks to the broad prospect of Kaspa. Kaspa is the fastest and most scalable instant-confirmation transaction layer ever built on a proof-of-work engine. It is designed to be hundreds of times faster than Bitcoin, and each transaction is confirmed in 10 seconds on average.
Some people may worry that such fast transaction confirmation is likely to generate orphan blocks. The fork caused by the orphan block will decentralize the hashrate, which may compromise security. Fortunately, Kaspa solves this problem well through BlockDAG and GhostDAG.
Unlike traditional blockchains, BlockDAG can reference multiple predecessors instead of a single parent, and the block references all the tips of the graph rather than just the tip of the longest chain. In other words, BlockDAG does not waste any blocks nor generate orphan blocks.
BlockDAG supports the production of multiple blocks per second, but the parallel operation of multiple blocks easily causes “double spending” of a transaction. To solve this problem, Kaspa implements the GhostDAG protocol. If two transactions with the same spending conflict, the protocol will choose either of them. Moreover, if an attacker with a hashrate of 51% tries to reverse a transaction, the longer time for sending the transaction means exponential growth in difficulty. In this way, the GhostDAG protocol provides security for the Kaspa network.
With numerous investors, developers and users from all over the world identifying the great potential of Kaspa, growing numbers of miners are diving into KAS. According to Kaspa’s official website, KAS has a maximum supply of 28.7 billion and a circulating supply of 14.78 billion, no premine, no allocated coins.
As of December 1, the Kaspa network hashrate had reached 472 TH/s, with the current block reward of 311.13 KAS. Adopting the KHeavyHash algorithm, it also supports mining on devices such as GPU and FPGA, as well as on platforms including OS-Windows, OSX, Linux and Raspberry Pi. If you have an idle AMD or NVIDIA GPU and hope for a steady income, try KAS mining.
Just feed the above data into the profit calculator on MinerStat and you will get the results below. ETC mining with an RTX 3090 yields only $0.1257 per day after the cost of electricity is deducted.
If the same GPU is used to mine KAS, the daily income with the cost of electricity deducted is $0.2404, as shown in the figure below.
The profit from mining KAS is $0.1147 higher than that from mining ETC. This may not seem like a big difference, but it means a considerable amount of income for miners with hundreds of GPUs. In addition to mining, KAS can also be obtained through trading. Currently, only a few exchanges have launched the KAS/USDT trading pair, including CoinEx, MEXC and Txbit, as shown by Kaspa website.
Source: https://kaspa.org/
Overall, Kaspa has turned many novel functions into a reality. In a time when copycat coins are sweeping the crypto world, Kaspa represents a revolutionary advance in technology. Currently, it has a live market cap of around $129 million, up 370% in the last 30 days. If you are optimistic about a coin, you may as well mine and stockpile it for some time. Even if the profit fluctuates greatly, you can also take a chance on the future of this project, not to speak of its impressive profit compared with similar coins.
Disclaimer: This article is for reference only and does not constitute any investment suggestions.