Kaspa achieved 15.79 million transactions on October 22, surpassing some older PoW networks in transaction volume. Kaspa’s number of transactions per day is only 3.4 times smaller than Solana’s all-time record for non-vote transactions.
Processing a total of 15.79 million transactions on Tuesday, October 22nd, the Kaspa network reached an amazing record. Kaspa Global Ambassador Luke claims that this huge amount of transactions is an amazing feat, especially since it was achieved using censorship-free Proof-of-Work (PoW) technology.
In his tweet, Luke pointed out that Kaspa’s performance is unique among the many top cryptocurrencies using PoW. These all rank better on CoinMarketCap (CMC), where he reports Kaspa’s trading volume and early We have also created a graphical comparison with PoW-based cryptocurrencies. ), Dogecoin (DOGE).
15.79 million transactions.
It is the total amount of transactions accepted from. @KaspaCurrency Last Tuesday, 10/22.
I’m a visual person, so why not create a graph comparing Kaspa’s performance to the old PoW dinosaur sitting in front of it? pic.twitter.com/DXkrjrhmxw
— Luke 𐤊 (@elldeeone) October 24, 2024
Kaspa’s transaction volume surpasses major PoW networks, challenging Solana
On that particular day, Kaspa’s transaction volume was 2.1 times the all-time high of several trusted PoW systems combined.
Kaspa’s release of a single token in the KRC20 standard highlights the tremendous community support for the platform and is the main reason for this significant increase in transaction activity. Luke’s analogy extends beyond PoW networks.
He pointed out that Kaspa’s daily trading volume is only 3.4 times lower than Solana’s (SOL) unvoted maximum of 53.8 million achieved in December 2021. Although Solana runs on a different consensus process, Kaspa maintains performance by leveraging: PoW at Layer 1 at 1 block per second (BPS).
Additionally, in August, CNF reported on a sudden increase in Kaspa’s hashrate. GPU miners and major software improvements drove this increase. Rusty Kaspa nodes were dominant at 98.83% of all nodes on mainnet at the time. Kaspa has achieved 10 BPS on the testnet, demonstrating the project’s progress in reaching scalability and performance improvements.
On the other hand, Kaspa’s native token, KSP, faces certain difficulties in the market despite these technological developments. KSP is trading around $0.1271 at the time of writing, reflecting a 3.73% decline over the past 24 hours. The daily trading volume was $39.83 million.
