An unidentified cryptocurrency trader struck gold, transforming a mere $2,000 investment into a staggering $60,000 within just 11 hours. This remarkable gain was fueled by the ERC-404 token known as MINER, raising eyebrows and sparking interest in the emerging standard.

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According to blockchain explorers, the trader began by converting 1 Ethereum (ETH) into MINER tokens on Binance, spending just $163. Interestingly, the gas fee for this initial purchase amounted to a hefty $2,010, highlighting the volatility associated with such new tokens.

However, the gamble paid off handsomely. Within hours, the trader cashed out 722 MINER tokens, netting a cool $19,110 ETH. Including the initial investment, the total profit soared to a remarkable $59,000.

This isn’t the first instance of explosive gains within the ERC-404 space. Just last week, another savvy trader turned $613 into a whopping $166,000 through the DeFrogs token, showcasing the potential – and inherent risk – of these experimental assets.

The ERC-404 market

Despite these individual success stories, the ERC-404 market currently faces a correction. After a week of meteoric growth, the sector’s total market capitalization has dipped by 30%, highlighting the inherent volatility associated with emerging crypto trends.

So, what exactly is ERC-404? This innovative standard merges the popular ERC-20 and ERC-721 standards, enabling tokens to be both fungible (like traditional cryptocurrencies) and unique (like NFTs). For instance, buying a PANDORA token using this standard grants you both a fungible token and a unique, potentially valuable NFT.

While the recent price swings caution against blind investment, the ERC-404 standard undoubtedly holds intriguing possibilities. Whether it lives up to its potential or fades into obscurity remains to be seen, but one thing’s for sure: the story of the mystery MINER trader serves as a potent reminder of the high-risk, high-reward nature of the cryptocurrency landscape.

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According to data from the on-chain data analysis platform CryptoQuant, there is a noticeable decline in the Bitcoin reserves of mining firms. The company’s analysts say that the amount of Bitcoin transferred from mining firms to exchanges has recently reached three times the amount going from exchanges to miners. This underscores the intense selling pressure being exerted by mining firms. Analysts suggest that this constantly increasing selling pressure could have a negative impact on Bitcoin prices in the short term.

Last week, miners were found to have sold 10,600 BTC in a single day, which is the highest sales volume in the past year. It is known that US-based mining firms have made major investments following the halving and have placed orders for new mining equipment.

In addition, Grayscale has been observed to have sold more than 106,000 Bitcoin since January 11. This further increases the selling pressure in the market.

The Halving is expected to occur in about 87 days. This means that the Bitcoin reward earned by miners will be halved, which usually has a long-term impact on the market. This halving process could affect the sales strategies of mining firms and Bitcoin prices.

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Blockchain technology is quickly integrating into our lives and some industrial sections. But at the same time, the technology has problems like speed, security, scalability, etc. That’s why many projects work to solve these problems.

Kaspa Technology also wants to become solving of these problems. Kaspa’s target is solving the Bitcoin network’s scalability problem as a Layer 1 blockchain. 

Kaspa blockchain has a protocol named GHOSTDAG/PHANTOM. Kaspa wants to achieve to more scalable Bitcoin network. By any definition, the Kaspa network works for the scalability of Bitcoin’s consensus (Nakomoto Consensus). The Bitcoin network’s speed will increase if the blockchain can do this.

How To Work Kaspa?

There are some factors for becoming famous for the Kaspa network. The first factor is that the Kaspa network uses the Proof-Of-Work algorithm. In this manner, the blockchain can produce a block per one 1 second.  So, the Kaspa network is so fast thanks to the feature.

Kaspa’s block-producing speed is more than Bitcoin, Litecoin, Dogecoin, Ethereum Classic, and Dash Coin network speed. The amount is 10 minutes on Bitcoin, 2.5 minutes on Litecoin, 10 minutes on Ethereum Classic, 2.5 minutes on Dash Coin, etc.

The Kaspa blockchain network is using BlockDAG mechanism. The working principle is different from the blockchain. Blockchain works as blocks, I mean, transactions waiting in mempool for completion, collect at one block after they are completed. But the DAG mechanism is doing that as a non-periodic structure.

At the same time, the Kaspa network is saving its own miners from censorship and similar attacks. Different from Bitcoin the Kaspa is accepting building dApp and deploying smart contracts. Kaspa network is planning that provides a delay of consensus mechanism. In this case, the network will have faster than the old one.

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Furthermore, the network has some features for saving its own users thanks to pre-trading security and anonymous procedures. The network keeps the users from malicious behaviors. GhostDAG protocol is isolated parallel blocks and that feature is the solution for network security.

GhostDAG protocol’s fundament is using cyclic graphics. Using this feature is decreasing double-spending. Here, the Kaspa network is different thanks to these features.

How To Mining On The Kaspa Network?

Kaspa network using POW consensus mechanism. That’s why every user can build a validator node on this network. The node is named Miner. Miners are earning block rewards and transaction fees. Besides, the BlockDAG structure is allowing the distribution of mining on the network. Additionally, Kaspa is permitting solo mining using lower hash speeds.

Kaspa mining is based on the kHeavyHash algorithm which establishes the “optical-miner” concept. As we know PoW mechanisms are requiring energy, but the kHeavyHash algorithm is so efficient in terms of energy spending and polluting the environment.

First of all, you need a wallet for mining and getting the rewards. You can interact with the link for having Kaspa Wallet. Secondly, you must find the pool for starting the mining procedure. But you don’t have to do it forever. Because the Kaspa network accepts solo mining, I mean you don’t need any pool, if you use this method.

Today Kaspa Web Wallet is one of the reliable crypto wallets. The wallet has an easy user interface, in this case, money sending and receiving is easing.

Tokenomics Of Kaspa (KAS) Coin

Right now, KAS Coin has a market cap of 414 million dollars. The maximum supply is equal to 28,704,026,601 KAS, but the total supply is 19,489,882,634 KAS. Almost %68 of the maximum supply is circulating, so that count is equal to the total supply. Furthermore, Kaspa (KAS) Coin’s maximum supply is halves once per year. You can see the emission schedule on the below chart.

How To Buy Kaspa (KAS) Coin?

You can buy the coin from CEX and  DEXes. The Kaspa (KAS) Coin is listed on Huobi, Gate.io, MEXC, Kucoin, ByBit, CoinEx, and Bitget. If you want to get a discount (%10-%20), you can interact and use the link. Every exchange has a relevant reference link. 

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