Key facts:
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KRC-20 tokens allow users to create their own projects on the Kaspa network.
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In the first 24 hours, this new project racked up nearly $4 million in paid fees.
Following the launch of Kaspa (KAS) KRC-20 tokens on its mainnet, miner revenue skyrocketed over the next 24 hours.
The growth of on-chain activity determined the increase in profits in Kaspa Mining. This information was detailed in a Kasplex postthe first DeFi protocol on this network.
It was reported there that in the first 24 hours of the KRC-20 token launch, almost 22 million KAS in fees were paid, which was equivalent to almost 4 million dollars. Moreover, the number of transactions in this period exceeded 13 million.
🔥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
Why did Kaspa miners’ income increase?
This development means that on Kaspa users will be able to create and manage their tokens within the network, similar to what happens with the ERC-20 standards on Ethereum (ETH).
Standards of this type facilitate the insertion of tokens that can interact with other applications and smart contracts on a chain. In turn, KRC-20 tokens allow developers and Kaspa users to create their own digital assets, dApps, cryptocurrencies, or tokenized representations of goods.
This means that more projects can build on the Kaspa network. For miners, this launch is especially beneficial because activity on the network increases as these new tokens are created and transferred. When the network has more transactions, miners earn more in fees for processing them..
Furthermore, as the network becomes more widely used, it ensures that demand for block space will grow, potentially increasing transaction fees and generating more profits for miners.
Regarding these increasing profits, the Cryptocurrency mining pool WoolyPooly made a post on its X account, in which He detailed how the rewards in KAS in the last hours«.
«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.
For example, this pool noted in its post that the block identified with ID 90105662 gave the miner a reward of 441,501 KAS, almost 74 dollars, with an effort of 1%, indicating that it was a relatively easy block to mine compared to others.
These statistics indicate an active ecosystem with a constant flow of rewards, which is driving miner earnings on the Kaspa network.
Recently, CryptoNews Bitcoin-dogecoin-kaspa-metricas-mineria-prueba-trabajo-estadisticas/” target=”_blank” rel=”noreferrer noopener”>reported that Kaspa, along with Dogecoin (DOGE) and bitcoin (BTC), dominate the market for crypto assets based on the Proof of Work protocol (or in English, Proof of Work, PoV).
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