ViaBTC | KAS Rises Unexpectedly: Things Miners Must Know Before Mining KAS!
Although Bitcoin leads the crypto market in terms of both popularity and market cap, its position is being challenged as people gradually become aware of some of its problems, such as high transaction fees, extremely slow transaction processing speed, and limited scalability. Marc Andreessen, co-founder of top venture capital firm a16z, has also stated in an interview that Bitcoin has stagnated in technological innovation. More and more new projects are looking for viable alternatives to Bitcoin.
In 2021, an unknown project called Kaspa emerged. This technology-oriented project integrates the decentralization, security, and stability features of early cryptos such as Bitcoin and Ethereum, and even excels in scalability and performance.
As a newcomer to the PoW mechanism, Kaspa is receiving a lot of attention and popularity in the market. Especially in the field of mining, Kaspa’s native token KAS is favored by many miners.
To mine KAS, we first need to know the technical architecture and advantages of KAS. Kaspa is the first DAG project that allows for parallel blocks and instant transaction confirmation, which is a major innovation compared to traditional blockchains. With blockDAG technology, massive transactions can be processed in a short time, and multiple blocks can be created simultaneously, one block per second on average. According to the Kappa team, each block on the Kaspa network can currently record about 200 transactions, approximately 30 times the figure of Bitcoin.
According to CoinMarketCap data, as of June 2, KAS is worth $0.01574. Currently, the Kaspa network generates about 100,000 transactions per day, charging 0.001 KAS per transaction on average. The transaction fees, which are even lower than those of Litecoin, give full play to the advantages of KAS in the case of frequent trading, perfectly meeting the market demand.
For KAS miners, revenue mainly comes from block rewards. According to the official website, the maximum supply of KAS stands at 28.7 billion, which halves once a year, and decreases smoothly by (1/2)^(1/12) every month. For the time being, each block rewards 220 KAS, and the figure is expected to drop to 207.65 KAS on June 7.
Before you start mining, a high-performance mining device is essential. Kaspa uses the kHeavyHash algorithm, which supports GPU mining or dual mining option KAS+ETC. Some ASIC miners can also be used for mining KAS.
Preparations before mining:
- Ensure that the mining hardware meets the requirements: mainstream GPU (with the memory not less than 3GB); for dual mining, the memory should not be less than 6GB.
- Prepare a wallet or a KAS address to receive mining rewards. KAS can be traded on exchanges such as CoinEx and Bitget.
- Choose SOLO mining or pool mining. At present, ViaBTC Pool supports KAS mining.
- After the machine runs for some time, you can check the status and earnings of the mining machine through ViaBTC.
Mining income is quite important to miners before they decide to get on board. Taking KS3, the first KAS mining machine recently launched by BITMAIN, for example, we can calculate the daily income of KAS mining.
The 24-hour output of KAS stands at $298,700 theoretically. The rated hashrate of KS3 is 8.3 TH/s, with a power consumption of 3188W, assuming an electricity price of $0.05kW·h;
The current total hashrate of the Kaspa network is 1.038 PH/s, with a difficulty of 243.2954 K, and KAS is worth $0.01574 at present.
The daily income of the KAS mining machine is about: 8.3/1,038*298,700 ≈ $2,388.44 ≈ 15,743.89 KAS.
The electricity cost is: 3.188*24*0.05 = $3.83.
Therefore, the daily net income is: $2,388.44 — $3.83 = $2,384.61.
Although the official price of KS3 is $49,800, the considerable daily returns of up to $2,384.61 allow miners to recover their investment in less than a month. However, in the volatile crypto market, the future price trend of KAS is subject to many factors. If the price rises, the payback period will be shortened; but if the price drops, the mining income will slump, prolonging the payback period.
In addition, the fee charged by the mining pool also plays a role in the payback period. Generally, mining pools charge a fee rate of 1–5% for KAS mining, which could add up to a huge cost in the long run. As a global comprehensive crypto mining pool, ViaBTC recently rolled out KAS mining services along with a “zero fee” mining event that lasts for one month. KAS miners can join ViaBTC now to save the fee and shorten the payback period.
Summary
Since Bitcoin emerged as a symbol of PoW in 2008, the field of crypto mining has witnessed an inexhaustible inflow of cryptos, yet many have failed due to reasons such as community consensus splits. As one of the few projects that soar against the bear market, Kaspa deserves users’ expectations with its impressive market record. On the other hand, its ambition goes far beyond being just a public chain for mining. The Kaspa team has plans to support smart contracts, which leaves more room for imagination.
*Disclaimer: This article does not constitute investment advice. The market is risky, and investors need to consider their risk tolerance and investment goals comprehensively.
