In a recent video, the host of 2Bit Crypto discusses the groundbreaking launch of KRC20 tokens on the Kaspa blockchain, referring to it as a “major evolution” for the project. He believes this advancement positions Kaspa as a frontrunner in the cryptocurrency landscape.
Key Highlights from the Launch
The host notes that the deployment of KRC20 tokens marks a significant milestone for Kaspa, facilitated by the cplex protocol. At launch, the network achieved impressive statistics:
- 7.58 million transactions
- 132 tokens deployed on the mainnet
- Over 15.5 million KAS paid in gas fees
He emphasizes the rapid scaling of Kaspa, highlighting the high and smooth transaction speed during this period.
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Show more +Within four hours of the KRC20 token launch, Kaspa recorded an average of 400 transactions per second (TPS) and achieved 1.5 BPS (Blocks Per Second), maintaining a hash rate of 1.12 Eh/s. The host points out that this seamless performance indicates the network’s capacity for handling large-scale usage effectively
The demand for KRC20 tokens was significant, with 971,000 tokens minted at the time of his report, and expectations for this number to grow. The host asserts that this high demand elevates Kaspa’s status within the crypto ecosystem.
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Kaspa distinguishes itself as a decentralized platform with strong community involvement. The host praises its blend of Proof-of-Work security and the speed of a DAG-based architecture. His bullish stance on Kaspa stems from its innovation and robust community support.
Discussing the profitability of Kaspa mining, the host describes it as one of the most lucrative Proof-of-Work networks. He shares his experience with miners like the K0 and KS5 Pro, which generate approximately $14 profit per day. He predicts that mining will become even more profitable, reinforcing his bullish outlook on both mining and investment in the network.
Price Action and Future Outlook
Post-launch, Kaspa’s price experienced some corrections, a common occurrence he attributes to the “buy the rumor, sell the news” phenomenon. Despite these short-term fluctuations, the host remains optimistic about the long-term trend, citing positive technical indicators like RSI Divergence.
The host believes the launch of KRC20 tokens is just the beginning for Kaspa. He anticipates more innovative projects emerging on the network, driven by its fast and cost-effective transactions. He argues that Kaspa offers developers a scalable solution, which will lead to increased adoption and potentially higher prices for the token
The YouTuber strongly believes that Kaspa is on an upward trajectory, suggesting it could soon secure a place among the top 10 cryptocurrencies.
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