Kaspa reaches new high—what other DAG-based cryptocurrencies are worth watching?
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Kaspa reaches new high—what other DAG-based cryptocurrencies are worth watching?
The price of DAG-based altcoins is in a favorable position.
Navigating Web3 tides with focused insightsAuthor: Cập nhật bởi & Bởi
Compiled by: TechFlow
Marathon Digital (MARA) has publicly praised Kaspa (KAS) technology and expanded its mining operations into KAS mining, drawing attention to altcoins that share the same technology as KAS. Particularly in the current market context, these altcoins are now at favorable price levels compared to their past performance.
Below are some observations and records from BeInCrypto regarding DAG-based altcoins.
Thanks to Kaspa, DAG is back in the spotlight
DAG stands for Directed Acyclic Graph, a data structure model used in blockchain technology. In traditional blockchains, data blocks are created sequentially like a chain. However, in the DAG model, transaction data is generated only after confirming previous transactions, transforming the blockchain structure from a linear chain into a graph-like network.
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On blockchains using the DAG model, users wishing to process a transaction must first confirm another previously sent transaction. Thus, each subsequent transaction confirms the prior one. The DAG model is well-suited for high-performance blockchains.
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Marathon confirmed this in its statement, saying: "The Kaspa network now processes one block per second, enabling faster transactions and providing Kaspa miners with more opportunities to earn block rewards within a given timeframe."
MARA also revealed that as of June 25, it had mined 93 million KAS tokens, worth approximately $15 million. Currently, KAS's circulating supply has reached nearly 84% of its total supply, meaning KAS no longer faces significant unlock pressure, allowing its price to be more objectively determined by market forces.
Is DAG the next hype?
Marathon’s involvement in KAS mining serves as a signal to many attentive investors. Since MARA’s major shareholders include firms such as Vanguard Group and BlackRock, MARA’s decision signals that large financial institutions are embracing mining on DAG-based altcoin networks as a way to diversify revenue streams.
From now on, DAG-based altcoins are likely to attract increasing community attention. Dr. Martin Hiesboeck, Chief Researcher at Uphold (@MHiesboeck), seems to have anticipated this possibility and recently made a notable statement.
(See tweet)
"DAG has many mathematical problems and under-researched, unknown consequences. Don't get trapped by something you think is the 'Holy Grail'! There is no Holy Grail."
Martin actively opposes any form of technological extremism (overhyping a specific technology or model). He criticizes outdated negative views toward Bitcoin technology while also pointing out that viewing DAG as a new "Holy Grail" solving the blockchain trilemma is equally mistaken. The blockchain trilemma refers to achieving security, decentralization, and scalability simultaneously.
DAG-based altcoins are currently at favorable price levels
Besides Kaspa (KAS)—the largest-cap and most recently surging DAG-based altcoin—data from CoinMarketCap shows that other DAG-based altcoins remain at relatively low price levels in 2024. Coins like IOTA and HBAR have dropped back to early 2023 price levels.
Altcoins in DAG
Source: CoinMarketCap
Kaspa is both a PoW (Proof-of-Work) altcoin, allowing miners to utilize existing hardware resources, and employs the DAG model, demonstrating strong economic efficiency. For these reasons, KAS possesses unique growth momentum.
Since MARA’s announcement, investors have begun paying closer attention to DAG technology (despite its long existence), and many projects are increasingly emphasizing the practical value of DAG applications.
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