- Kaspa KRC-20 tokens launch on the mainnet sparks significant on-chain activity, increasing miner revenue drastically.
- KRC-20 token creation mimics Ethereum’s ERC-20 standards, allowing for versatile dApp and digital asset development.
Mining Kaspa has become essential for maximizing miner profits. Following the launch of KRC-20 tokens on its mainnet, the activity on-chain increased significantly, leading to higher earnings for miners within 24 hours. This surge in mining income was highlighted in a report by Kasplex, the first DeFi protocol on the Kaspa network.
The increase in miner revenue can be attributed to the new capabilities that KRC-20 tokens bring to Kaspa. Users can create and manage their tokens similarly to ERC-20 standards on Ethereum. This allows for seamless interaction between tokens, applications, and smart contracts on the chain. With KRC-20 tokens, developers and users can create digital assets, decentralized applications (dApps), and tokenized representations of goods.
«Kaspa has launched its KRC-20 tokens on the mainnet, allowing for the creation and management of tokens similar to standards on platforms such as Ethereum ETH . Mining revenues have skyrocketed.» – WoolyPooly, cryptocurrency pool.
As more projects are built on the Kaspa network, miner activity tends to rise. When users create and transfer these new tokens, the overall transaction volume increases. More transactions mean higher fees, resulting in greater earnings for miners. The WoolyPooly cryptocurrency mining pool recently shared data on its X account, showing a substantial increase in KAS rewards over the past hours.
🔥In just 24 hours, we've already seen a staggering 21,739,260 KAS in gas fees paid, 13,330,510 KRC20 transactions, and 165 tokens deployed!
What a phenomenal day! 🙌 The community's enthusiasm is truly remarkable!🚀
To celebrate the successful launch of KASPLEX, we're… pic.twitter.com/ntW1jpmg9A
— Kasplex (@kasplex) September 16, 2024
For example, the block with ID 90105662 rewarded miners with 441,501 KAS, approximately $74, with only 1% effort. This indicates that the block was relatively easy to mine compared to others. Such statistics reveal an active network and a consistent flow of rewards, boosting miner profits in the Kaspa ecosystem.
Kaspa continues to establish its presence alongside other cryptocurrencies like Dogecoin (DOGE) and Bitcoin (BTC), dominating the Proof of Work market. As the KRC-20 tokens gain traction, miners are likely to benefit further, creating a environment for cryptocurrency investment and development.
The current price of Kaspa (KAS) is hovering around $0.17 USD, with a slight downward trend over the past 24 hours. Despite a 3.14% drop in the past day, the price has risen by around 1.24% over the past week. The 24-hour trading volume has been significant, reaching over $68 million USD, indicating a fairly active market.
