Proof-of-Work Layer-1 Crypto Project Defies Market Doldrums

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Proof-of-Work Layer-1 Crypto Project Defies Market Doldrums

Post by exellcag »


A layer-1 altcoin is outperforming the broader crypto markets after putting up a nearly 30% rally in the last week.

Proof-of-work blockchain Kaspa (KAS) is trading for $0.0496 at time of writing, up from a low of about $0.0383 one week ago.

The 44th-ranked crypto asset by market cap is up more than 3.6% in the past 24 hours.

Kaspa’s price surge materialized amid multiple new integrations this week.

On Wednesday, the crypto lender CoinRabbit made the project available on its platform for KAS-backed loans. Later that day, the crypto payment gateway NOWPayments integrated Kaspa onto its platform.

Additionally, the cryptocurrency mining platform Antpool introduced a dedicated Kaspa mining pool last week.

Kasps aims to deliver high block creation and transaction speed without the loss of security and decentralization that many higher-speed chains suffer from by using BlockDAG. The technology allows Kaspa to generate multiple blocks per second, giving the network the ability to process transactions instantly.

The proof-of-work project also says it’s designed so that solo miners, or miners who choose to work by themselves instead of relying on mining pools, can thrive as well.

“Kaspa is currently the fastest proof-of-work, mineable coin while remaining decentralized. The blockDAG architecture with rapid block rates allows more mining decentralization and enables effective solo mining at lower hashrates…

In solo mining, individual miners compete with each other to solve the puzzle and earn the reward. However, the odds of successfully solving the puzzle are low, especially with the increasing difficulty of the network.”


Cryptocurrency exchanges review:

#1 OKX - 24h Volume: $ 1 097 255 972.
OKX is an Hong Kong-based company founded in 2017 by Star Xu. Not available to users in the United States.

#2 ByBit - 24h Volume: $953 436 658.
It is headquartered in Singapore and has offices in Hong Kong and Taiwan. Bybit works in over 200 countries across the globe with the exception of the US.

#3 - 24h Volume: $ 643 886 488.
The company was founded in 2013. Headquartered in South Korea. is not available in the United States.

#4 MEXC - 24h Volume: $ 543 633 048.
MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.

#5 KuCoin - 24h Volume: $ 513 654 331.
KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.

#6 Huobi - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.

#7 Bitfinix - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.

My bitcoin-blog: