Bitcoin (BTC), Dogecoin (DOGE) and Kaspa (KAS) lead the most relevant metrics linked to cryptoassets based on the Proof of Work (PoW) protocol.
In this ranking, prepared by the Mining pool f2poolstatistics such as market capitalization, hashrate (which measures the security of the network and the processing power of the miners) and the amount of daily production in the system PoW.
Bitcoin leads in these measurements, while Dogecoin takes second place mainly due to its volume and popularity. Kaspa, although newer, completes the top 3 of this ranking having grown considerably since its launch in 2021.
Adding the revenue generated by mining these three crypto assets in the last 24 hours, this figure exceeded 28 million dollars.This can be seen in the following graph taken from the aforementioned platform.
Bitcoin, Dogecoin and Kaspa lead the ranking of PoW-based cryptoassets. Source: f2pool.
Bitcoin and Dogecoin Measurements
The currency created by Satoshi Nakamoto, which has a market capitalization of around $1.14 trillion, produces almost all of the profits earned by miners of all PoW-based coins.
The last recorded daily reward generated by f2pool from BTC mining was $26 million (in the chart above, this metric is expressed as 24h PoW Yield).
On the other hand, another important measure is the bitcoin hashrate. This statistic, which as reported CriptoNoticias on September 3, 2024 recently reached its all-time high, it measures the processing power required by miners to successfully solve a block and thus obtain the reward (3,125 BTC).
Currently the hashrate Bitcoin remains at a high level, close to 600 EH/s (exahashes per second). This not only increases the difficulty of the Bitcoin network to process the next block, but also provides greater security to this Blockchain.
Additionally, Bitcoin has a remaining supply of 6%. This percentage reflects the BTC that has not yet been mined, as BTC has a maximum supply of 21 million coins.
As for Dogecoin, although the metrics observed here are noticeably lower than those of BTC, mining of this Cryptocurrency remains among the most popular. This cryptocurrency has a market capitalization of over $15 billion.
One of the main characteristics of its mining is the use of the algorithm Scryptwhich is more efficient and consumes less energy compared to the one used by Bitcoin, SHA-256.
Thus, unlike bitcoin, which requires highly specialized mining equipment (ASICs), Dogecoin can be mined with more affordable hardware. This allows more people to participate in mining.
As for its PoW production in the last 24 hours, this figure reached 1.5 million dollars in rewards for miners.
Lastly, Dogecoin’s current hashrate is 1260.88 TH/s (terahashes per second), which shows a considerable amount of dedicated mining power, although significantly lower than Bitcoin.
The Kaspa Mining Phenomenon
Kaspa is a cryptocurrency launched in 2021 that has gained popularity, especially among miners, due to its innovative features in its structure and operationIts market capitalization is around $4 billion.
Over the past 24 hours, Kaspa mining revenue has reached nearly $1.3 million. The cryptocurrency currently has a hashrate of 1022.53 PH/s (petahashes per second), indicating a robust network, albeit smaller than Bitcoin. It is a project which seeks to improve the scalability and speed of transactions compared to Bitcoin.
This cryptocurrency uses the algorithm kHeavyHasha modified version of the HeavyHash algorithm, optimized for efficiency. As with DOGE, this provides greater accessibility to Kaspa mining, allowing the use of GPUs instead of more expensive ASICs.
In addition, Kaspa is based on a blockDAG (Directed Acyclic Graph) structure.which enables the simultaneous generation of multiple blocksAs a result of this mechanism, transaction times are shortened and processing capacity is increased.
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