Kadena is a blockchain platform that tries to optimize for scalability. It features a new smart contract language, Pact, formal verification and upgradeable smart contracts.
Kadena also implements a new Proof-of-Work (PoW) consensus mechanism known as Chainweb, consisting of several independently-mined chains that work simultaneously to execute network transactions. Theoretically, this design can support high transaction speed at the base layer without any second-layer scalability or functionality solutions.
As with many mineable coins, you can mine Kadena by joining a mining pool. In this piece, let’s discuss which ones are ideal for you.
Best Mining Pool For KDA
F2Pool is an excellent mining pool for KDA and many other cryptocurrencies that uses a Payout Per Share (PPS) compensation model.
To participate in F2Pool, you need to create an account on their platform, although they still maintain your anonymity. The F2Pool pays out a minimum of 2 KDA to its miners as a daily reward, and you pay a 3% fee to join.
How To Mine KDA with F2Pool
- Purchase Suitable mining hardware.
- Create a Kadena wallet address.
- Join F2Pool and open an account.
- Set up your mining device.
- Begin mining.
- Uses fewer device resources.
- F2Pool offers excellent customer support.
- Great website documentation.
- Privacy and anonymity for F2Pool users.
- Excellent community backing.
- Sometimes has prevalent login issues.
- Not user-friendly for newbies.
The DxPool is a superb mining platform that offers unique ways of mining crypto. It runs a PPS payout model and rewards KDA miners more than many other mining pools.
Also, the Pay Per Share plus model DxPool offers is ideal for newbie miners because of the stable earnings and cheaper mining fees.
If you mine with DxPool, you receive payouts once each day before noon. But you can choose to pull your profits once you reach the daily threshold.
Moreover, transactions on the DxPool are free, whether you’re withdrawing or moving your payout within DxPool accounts.
How To Mine KDA with DxPool
- Open a DxPool account. This account is not a crypto wallet.
- Confirm you have a miner, an internet connection, and a power source.
- Start and set up your mining device.
- Start mining.
- Straightforward interface.
- Offers a lower payout threshold of 0.0001 KDA.
- Relatively expensive.
Hashpool is an excellent alternative for F2Pool and DxPool. It adopts the Pay-Per-Last-N-Share (PPLNS) payout method for its miners, with a maximum fee of 1% for using the platform.
It has an estimated network hash rate of 91.45PH/s and a 108.12 TH/s pool hash rate. You can earn an excellent passive income of at least 2 KDA as daily profits when mining via HashPool.
Security is vital for most crypto users, and HashPool has a formidable defense system against DDoS attacks. For this reason, your crypto investments remain safe.
You can interact with the HashPool communities on Discord or Telegram and contact support if you need help from the HashPool team.
How To Mine KDA With HashPool
- Obtain a Kadena wallet address.
- Connect your Kadena wallet address to HashPool and click on “Go.”
- Monitor your hash rate and earn directly on the platform.
- Cheaper mining fees.
- A great pool hash rate.
- Limited token support.
- Its use of the PPLNS makes it hard for miners to make maximum earnings after the payout window closes.
How Long Does It Take To Mine Kadena?
With the current difficulty of 279.9789P and an average network hash rate of 537.58 PH/s, it could take up to 70 hours to mine a block of KDA. However, these speeds depend on the type of miner you use.
If you use an iBeLink BM-K1 Max Blake2S miner, you may make it within 56 hours. It’ll take you much longer mining with the Goldshell KD6, which manages 70 hours.
Learn more: Is Kadena Worth Mining?
Is Kadena Deflationary?
Kadena is both inflationary and deflationary.
Kadena is a mid-player between Ethereum and Bitcoin. It has deflationary characteristics because it caps the token circulation at one billion. At the same time, it has inflationary features because the number of tokens in circulation will continue to rise for the next 120 years.
Can You GPU Mine KDA?
GPU mining is not ideal for KDA. Instead, you need sturdy mining hardware, specifically ASICs.
Kadena is the first cryptocurrency that uses PACT to develop smart contracts on the PoW blockchain, which makes mining Kadena unique.
Since Kadena uses the BLAKE2 algorithm, it works well with ASICs machines. Since mining difficulty increases daily, ASICs compute the complex challenges better for the Kadena blockchains.
Even if you successfully use a GPU or CPU, it will take eons to mine a whole block of KDA.
Unlike ASICs, you’ll also take longer to recover your initial investment versus the profit generated by mining via GPU.
On a related note, if you’re interested in mining with a single GPU, you should read our guide that explores your options. We’ll also introduce a few mining pools you can join. Click on the link to learn more.
How to Mine KDA
Here are some steps to follow if you want to mine Kadena
Get Robust Mining Hardware
You need hardware that can competently solve complex cryptographic puzzles on the blockchain. ASICs are hardware that help you stand the test of time even as the difficulty of solving the math increases with time.
Open a Kadena Wallet
You need a wallet address to track your mining activity, especially to check and collect your mining rewards. Multiple Kadena wallets can help you form an address. The best examples are the Kadena node wallet, X-Wallet, and Chainweaver.
Sync Your Mining Hardware
Before mining your KDA, choose a mining pool to connect to your ASIC. F2Pool is an excellent pool that can work well with the Goldshell KD5. A mining pool helps you keep a tab on the hash rate and to record your profits.
Upon completing your setup, you’re now open to begin mining and receiving your rewards. Ensure you have a valid wallet address to earn your profits for work done.
Can You Stake KDA?
Yes, you can.
One popular way to stake your KDA is to use the Coinmetro wallet. The Coinmetro wallet is an excellent option that works with all the 20 Kadena blockchains.
While Kadena runs on a Proof of Work mechanism, Coinmetro’s and Kadena’s teams built a unique program that simplifies bonding, helping KDA holders to stake the coin.
Also, bonding KDA on the chain relay is quite costly; therefore, many KDA holders who choose to stake use it as an alternative to earn passive income.
Also read: Is Staking Crypto Worth It?
How Does Kadena Staking Work?
Any KDA holder with over 100 KDA crypto funds on their Coinmetro can start staking KDA.
You can fund your Coinmetro account by purchasing KDA from the Coinmetro exchange. You can swap your USD for a unit of KDA. Also, you can use trading pairs like KDA/USD on your Coinmetro account.
Once you become a holder, choose how long you wish to stake KDA on Coinmetro’s wallet. You can pick anywhere between one month and one year, which determines the interest rates you receive.
Since rewards for staking KDA depend on when a user holds the coins on the Coinmetro’s account, you want to stake for extended periods to gain maximum upside. The average earnings for staking KDA stretch up to 18% based on the amount of time you stake your KDA.
For instance, if you stake your KDA for a month, you may receive an 11% interest rate, while your reward rate jumps to 18% for an entire year. Depending on market factors, these rates may change
Mining Kadena can be a profitable venture if you participate in a mining pool. Your rewards from this venture will depend on your hardware and participation.