Tue. Apr 16th, 2024

On January 3, 2009, the first Bitcoin genesis block was created, ushering in a new era of currency and the rise of the cryptocurrency mining industry. The continuous development of the cryptocurrency market has added diversity to the mining industry. In addition to Bitcoin, popular projects using the Proof-of-Work (PoW) mechanism have emerged, such as Litecoin, Dogecoin, and Ethereum (which transitioned to the Proof-of-Stake (PoS) mechanism in 2022). Although these projects have introduced unique features and technological innovations compared to Bitcoin, they still exhibit a high degree of similarity and have not brought disruptive changes in performance. However, in 2021, Kaspa, a surprise project that aims to break the blockchain trilemma, has drawn attention as this Layer 1 PoW public chain promises to disrupt the current landscape.e. Proof of Work, or PoW, was first proposed by Cynthia Dwork and Moni Naor in 1993, long before the rise of Bitcoin. Back then, PoW was only applied to address the problem of “spam”. People performed certain computational tasks on their computers to prove that they were legitimate email senders and not spammers. This process was called “proof of work”. However, PoW did not gain widespread recognition until the cryptocurrency boom led by Bitcoin. Today, Bitcoin boasts a market capitalization of $585.1 billion, dwarfing well-known global companies such as Visa, Walmart, and Johnson & Johnson. Although it is becoming a household name as time goes by, other PoW projects still remain in the dark. For example, the emerging PoW project called Kaspa has limited consensus within the crypto community and many users in the crypto space are still unfamiliar with it.

Source: 8MarketCap In this article, we will start with the technical principles behind Kaspa to introduce its features and also provide information on how to mine it and the time required to mine a KAS using different mining equipment. Kaspa has been described as a rare and innovative project in the PoW arena, and it really is. As the first project to adopt Directed Acyclic Graph (DAG) technology, Kaspa enables parallel blocks and instant confirmation of transactions, which is a significant change compared to traditional blockchain. Based on the DAG block technology, Kaspa can process massive transactions instantly, while creating multiple blocks, averaging one block per second. According to the official statement from Kaspa, each block in the current network can record approximately 200 transactions, around 30 times more than Bitcoin.

In addition, Kaspa also uses a consensus mechanism called GHOSTDAG, which solves the challenging orphan block problem in PoW projects. Unlike traditional blockchains, GHOSTDAG does not discard blocks created in parallel, instead allowing them to coexist and ordering them in consensus. Under this mechanism, the blocks are organized in a “tree” structure within the Kaspa network. According to CoinGecko data as of July 6, the current price of KAS is $0.0207. Currently, KAS has a market capitalization of $401 million, ranking 97th among all cryptocurrencies. In the Kaspa network, miners must compete for the right to validate transactions by completing certain computational tasks and earning a certain amount of KAS as a reward. KAS, which uses the kHeavyHash algorithm, is compatible with both GPU (NVIDIA and AMD) and ASIC miners. However, with a current network hash rate of 1.41 PH/s, even with the latest ANTMINER KS3 miner, the theoretical probability of mining a block is only 0.58%. As a result, joining a mining pool has become the preferred option for most KAS miners. *Probability of mining a block = Mining machine hash rate / Network hash rate, calculated based on ANTMINER KS3 hash rate of 8.3 TH/s and network hash rate of 1.41 PH/ s. Here are the quick steps to connect your GPU to a mining pool (in the ViaBTC Pool example):

Get Kaspa mining software.

Mining software options include: GMiner, lolMiner, BzMiner, etc. Operating system: Windows, Linux. Gminer: Releases develsoftware/GMinerRelease GitHub lolMiner: https://bitcointalk.org/index.php?topic=4724735.0 BzMiner: Releases bzminer/bzminer GitHub

2. Set up the mining software.

to. After downloading the software, unzip it. b. Open the start.bat file with TextPad or another text editor. c. Use the batch file that comes with the software or create your own batch file, then right-click on it and select “Edit” to remove or change the default settings. *Note: Replace your username with the one you use on your primary/secondary account at www.viabtc.com, and the worker name can be anything you prefer. After making the changes, click “Save”.

3. Run the mining software

After completing the software setup, double-click start.bat to start the software running.

If you use an ASIC miner to connect to a mining pool, you must modify the parameters as follows:

First of all, you need a mining machine that supports KAS mining, such as ANTMINER KS3 and IceRiver KAS KS2. Choose the profit settlement method for KAS mining in ViaBTC Pool, such as PPLNS and SOLO. Set the mining address. ViaBTC offers two URLs for miners to choose from (if the connection to one URL fails, it will automatically switch to the other): stratum+tcp://mining.viabtc.io:3015 stratum+tcp://mining.viabtc.io: 315 Set miner name and password. For example, the account name can be set to “viabtc” and the miner name can be set to “viabtc.001”. The password can be left blank or choose any other according to your preferences. After the mining machine has been running for 10-15 minutes and is stably connected to ViaBTC Pool, you can log in to ViaBTC Pool official website to check the working status and earnings. *For more details, see: The time required to mine a KAS depends on several factors, such as the current network hash rate, mining difficulty, and block reward distribution rules. On the Kaspa network, the block reward for KAS is halved once a year, steadily decreasing by a factor of (1/2)^(1/12) every month. Currently, each block rewards 207.65 KAS, which is expected to drop to 196 KAS per block on July 8. Furthermore, the mining machine used can also make a big difference in the time required to mine a KAS. Based on the current network hash rate of 1.41 PH/s, the data of popular miner models on the market are listed below:

“*”Time for 1 KAS (min.)” refers to the time required to mine one KAS, measured in minutes.

About ViaBTC

ViaBTC, founded in May 2016, has provided professional, efficient, secure and stable cryptocurrency mining services for more than million users in more than 130 countries/regions around the world, with cumulative mining output value of tens of billions of dollars. This world leading comprehensive mining pool offers mining services spanning over ten major cryptocurrencies including BTC, LTC and KAS. Backed by comprehensive services including ViaBTC Pool, CoinEx Exchange, and ViaWallet, ViaBTC strives to provide global users with more support tools, more stable and efficient mining services, and a better product experience.

By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on wttspod.com for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.