Crypto News & Watchlists

Proof-of-Work Layer-1 Crypto Project Defies Market Doldrums and Surges by 29% This Week Amid New Integrations

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.”

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The post Proof-of-Work Layer-1 Crypto Project Defies Market Doldrums and Surges by 29% This Week Amid New Integrations appeared first on The Daily Hodl.

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