GhostDAG.org announced the acquisition of $880,000 worth of miners to bolster its ambitious Kaspa (KAS) mining facility. The project recently launched with the mission to raise $1,000,000 in $KAS Miner setup and democratize institutional-grade mining on a large scale. Its reception was better than expected, and in just 14 days, it raked in over 1,000,000 organic impressions. Now, only $120,000 separates it from its bold goal and limitless growth potential.
A Strategic Acquisition for Democratic Mining
GhostDAG is actively working to develop the Kaspa mining facility and pool into a cutting-edge, institutional-grade solution. Smaller and medium-sized mining enthusiasts on the Ethereum network can use it via the GDAG ERC-20 token to mine KAS and access rewards without leaving Ethereum. Early KAS adopters believe the project has the potential to reach the top 5 cryptocurrencies in the field.
By acquiring $880,000 worth of miners, GhostDAG.org aims to accelerate the mainstream adoption of KAS and bring more users to the platform. It is also part of its grander strategy to build social awareness of the project among Ethereum users.
As it stands, the recent infrastructure upgrade has increased the processing power to 490.2 Th/s, generating a monthly revenue of $300,000 via proof-of-work (PoW) rewards. This is possible thanks to the new elements, including 53 IceRiver KS3M and 3 Bitmain KS3 devices for GhostDAG.org and GDAG token holders. Additionally, 10 IceRiver KS3M devices are dedicated to Blocktools.org, and 14 come from third-party customers.
How Much Can Kaspa Mining Grow?
Anyone contributing to Kaspa mining participates in the network’s growth and scalability, which can provide considerable rewards and benefits in the long run. For example, merely holding KAS tokens could prove lucrative when the project reaches mainstream use and awareness. Recently, the token has been listed on significant CEXs, confirming its potential to increase in value as the demand for it rises.
Boarding a new and promising project in its early days could help adopters reap considerable rewards later down the road. That’s why GhostDAG.org announced its availability for potential collaborations with institutional entities seeking a mining solution at scale. Interested parties can get in touch with the team via the project’s official website.
Kaspa is the fastest and most scalable instant confirmation transaction layer ever built on a proof-of-work engine. Transactions sent to miners can be included immediately in the ledger, which is structured as a revolutionary blockDAG. Kaspa is based on the GhostDAG/PHANTOM protocol, a scalable generalization of the Nakamoto Consensus (Bitcoin consensus). Its design is faithful to the principles Satoshi embedded into Bitcoin — proof-of-work mining, UTXO-formed isolated state, deflationary monetary policy, no premine, and no central governance. Kaspa is unique in its ability to support high block rates while maintaining the level of security offered by the most secure proof-of-work environments. Kaspa’s current mainnet operates with one block per second. After the ongoing rust language rewrite, the core developers goal is to increase the number of blocks per second substantially, attracting the development of smart contracts and DeFi.
In conclusion, the vision behind the Kaspa project is to create a Nakamoto-like service that operates at the speed of the internet. While acknowledging Bitcoin’s historic role as the ultimate store of value, Kaspa aims to build upon Satoshi’s principles and address the evolving challenges of the second decade of cryptocurrency.
Drawing inspiration from the historical tradeoff between gold and silver, Kaspa positions itself as the “silver” to Bitcoin’s “gold.” The project seeks to optimize the consensus stack to overcome the limitations of Satoshi’s v1 protocol, focusing on two critical vectors: the speed of transaction inclusion and control over transaction ordering in the ledger.