Crypto analyst Mikro (@mikroweller) has highlighted the similarities between Bitcoin’s (BTC) early hashrate growth and that of Kaspa (KAS) in a tweet. The analyst points out that Kaspa’s hashrate is increasing at a faster pace than Bitcoin’s did in its early years.
Per Mikro’s tweet, Kaspa reached the 1 exahash per second milestone in just three years, whereas Bitcoin took seven years. The expert also discusses the tokenomics of both cryptos. He noted the differences in their halving schedules and how these might impact their future growth.
Even while the numbers by themselves are impressive, the analyst goes on to analyze the tokenomics of the two cryptos. He points out that Kaspa has an annual halve schedule whereas Bitcoin has a quadrennial halving plan.
$KAS Hashrate looks exactly like early $BTC Hashrate During its early days, BTC formed the same hashrate chart structure that @KaspaCurrency is now.The road to 1 EH/s looks almost exactly the same for both, Kaspa just did it faster.But here is whats actually mindblowing… pic.twitter.com/ZxQAE3AJPP
— mikro (@mikroweller) September 7, 2024
Kaspa’s Accelerated Hashrate Growth
In the tweet, Mikro elaborates on Kaspa’s rapid progress in reaching 1 EH/s, a milestone Bitcoin achieved in 2016 after seven years of mining. Kaspa managed to reach the same level in just three years, suggesting a much faster rate of development.
The analyst suggests this accelerated timeline is by design, underscoring the effectiveness of Kaspa’s tokenomics.
The assertion that Kaspa follows a hashrate chart structure identical to Bitcoin, although reaching its milestones four times faster, lends more credence to this analogy. The fact that Kaspa halves annually whereas Bitcoin does so every four years lends credence to the theory that Kaspa is intended to emulate Bitcoin’s success more quickly.
Parallels Between Bitcoin and Kaspa’s Development
According to Mikro, Kaspa shares several key similarities with Bitcoin, including both following a power law in their log chart structures and having major Bitcoin miners showing interest in Kaspa.
While the current Kaspa hashrate is significantly lower than Bitcoin’s—600 times lower, according to the tweet—the analyst posits that Kaspa’s rapid growth may be a sign of things to come.
The tweet also raises the point that despite Kaspa’s current market capitalization of $4 billion, the cryptocurrency may still be in its early stages. With a hashrate expected to increase exponentially, some speculate that Kaspa has plenty of room to grow, mirroring Bitcoin’s trajectory but on a faster timeline.
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A Growing Interest in Kaspa Among Miners
Mikro further points out that some of the largest Bitcoin miners have already begun mining Kaspa, suggesting growing confidence in the project. This observation hints at potential long-term interest in Kaspa’s development.
The analyst’s comparisons between the two coins extend to more than just technical factors, touching on broader market behaviors as well.
While the tweet acknowledges that it may be a coincidence, the parallels between Kaspa and Bitcoin are difficult to ignore. Kaspa’s faster growth may present a unique opportunity for those interested in early-stage projects, even though its market cap suggests it has already gained traction.
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