The Rise of "The Entity" and the Need for Change
In early 2024, the cryptocurrency mining landscape was disrupted by the emergence of a mysterious and powerful mining actor, commonly referred to as "The Entity."
This entity has demonstrated the ability to rapidly adapt its operations across various proof-of-work (PoW) networks, deploying massive hashing power to dominate multiple small-cap cryptocurrencies, including Radiant, Alephium, Kylacoin, and various Kaspa forks, such as the Karlsen Network
The dominance of The Entity has raised significant concerns about centralization within these networks.
By controlling a disproportionate amount of hashing power, The Entity has the potential to undermine the decentralized nature of blockchain networks, destabilize the value of coins through large-scale sell-offs, and reduce the profitability of smaller, independent miners.
The urgency of this situation prompted the Karlsen Network team to develop a new algorithm that would counteract these threats and ensure a more equitable and sustainable mining environment.
To learn more about The Entity and its impact on the cryptocurrency mining community, we highly recommend watching the detailed analysis by Son Of Tech in his video "The Entity in Cryptocurrency Mining" and the comprehensive breakdown by MineSum10 in his video "The Current State of GPU Mining". We thank Son Of Tech and MineSum10 for their valuable contributions to the community.
Announcing the Release of KarlsenHashV2: A New Era for GPU-Centric Mining
Karlsen Network is proud to announce the release of our new algorithm, KarlsenHashV2, designed to enhance decentralization and promote GPU-centric mining.
This milestone comes after extensive development and testing, driven by the need to address growing centralization issues and ensure the long-term sustainability of our network.
Introducing KarlsenHashV2: A GPU-Friendly, Energy-Efficient Solution
KarlsenHashV2 is based on the innovative work of the lolMiner developer around the FishHash algorithm.
After more than six months of rigorous development and testing, we are excited to unveil this new Proof-of-Work (PoW) algorithm.
KarlsenHashV2 has been meticulously rewritten in Go and Rust to optimize its performance, security, and energy efficiency.
It is designed to be GPU-friendly by being memory-intensive and energy-efficient, making it ideally suited for GPU mining while significantly reducing the effectiveness of other mining hardware.
During testnet experiments, we evaluated three algorithms: khashv1 (Blockversion 1), khashv1.5, and khashv2 (Blockversion 2). After a security review of FishHash, we chose the FishHashPlus algorithm as the foundation for KarlsenHashV2.
The blockversioning allows future flexibility to modify the #PoW algorithm. To ensure long-term security, we are considering automatic DAG size increases, making mining more memory-intensive and slowing down FPGA performance.
The Path Forward
Our primary focus remains on ensuring that GPUs maintain their advantage, helping to deter the kind of centralization that has plagued other projects and preserve the integrity of our network.
We invite the community to participate in this new chapter of the Karlsen Network by joining us in mining with KarlsenHashV2.
Your support is crucial as we continue to build a more secure, decentralized, and sustainable blockchain ecosystem.
Like Kaspa, our work is open-source, allowing other projects to draw inspiration from it and implement similar measures to protect their networks.
Thank you for your ongoing trust and commitment to the Karlsen Network.
Together, we will navigate the challenges ahead and unlock the full potential of decentralized mining.
Karlsen Sidechain devnet launch
The Karlsen Dev Team is excited to announce the official launch of the Karlsen sidechain devnet, built on the Cosmos SDK.
The sidechain will introduce smart contracts to the Karlsen network and establish cross-chain connectivity with multiple blockchains, including kaspa.
The Karlsen Sidechain features native cross-chain smart contracts, a concept inspired by the ZetaChain project. These smart contracts allow developers to orchestrate assets and execute actions across various chains. For example, a single transaction could move an ERC-20 token on Ethereum and then transfer KLS or KAS between addresses. This capability enables developers to create seamless, multi-chain applications that unlock new opportunities in DeFi, NFTs, gaming, DAOs, identity, and more.
Our current focus includes integrating Karlsen with Kaspa and ZetaChain (already connected to Bitcoin, Ethereum, BNB Chain and Polygon), with further integrations planned through strategic partnerships.
Development Status:
* We have launched the devnet for our sidechain.
* Work is ongoing to implement Karlsen and Kaspa clients and signers.
* Our immediate goal is to establish functioning observer and signer nodes for Karlsen, followed by similar deployments for Kaspa on the devnet.
Upcoming Roadmap Events:
* The KLS first halving is imminent, reducing the reward from 50 to 44 KLS per block.
* Validation of the testnet featuring the new GPU-friendly algorithm, KarlsenHashV2.
* Deployment of Karlsen Mobile on Android store
* Enhancements and optimizations to strengthen our ecosystem's infrastructure.
Stay connected with us on Discord, Twitter and Telegram for continuous updates and more exciting developments!
Karlsen Network x IvendPay
We are excited to announce our integration with ivendPay marking a significant step forward in our journey towards fusing blockchain technology with real-world payment systems.
With the Karlsen Network's ultra-fast capabilities, you can now use ivendPay solutions to effortlessly make payments in the real world. Imagine paying for dinner with a single click using NFC through your Karlsen wallet – it's that simple!
This collaboration not only expands our payment ecosystem but also aligns with our roadmap to bridge the gap between traditional finance and blockchain innovations, ensuring smart and fast payment solutions
April, 10 2024
NiceHash adds KarlsenHash to its world renown hashrate market
Founded in 2014, NiceHash is the world’s leading hashrate marketplace, and one of the most recognized names in the cryptocurrency industry. As a bitcoin focused platform, NiceHash provides a complete ecosystem of mining, hashrate, and payment solutions, with the goal to accelerate bitcoin adoption worldwide. The NiceHash vision is to make cryptocurrency simple, friendly, and accessible to everyone.
The NiceHash platform enables miners to mine on multiple algorithms with smart software that switches based on profitability. A core part of the platform is the ability for people to buy hashrate on algorithms for mining in real time, making the marketplace the most flexible way to mine cryptocurrency.
By adding support for KarlsenHash, NiceHash is once again making sure that miners have all the best possible options for their operations. This also means GPU miners have more options, and projects such as the Karlsen Network are a huge benefit to the crypto community and beyond.
February, 28 2024
Karlsen $KLS is coming to Mexc!
MEXC is thrilled to launch another session of Kickstarter, a listing event initiated by the project team on MEXC before launch where users can commit MX to support their favorite project. This event is designed to identify high-quality projects and, at the same time, bring airdrop benefits to MEXC users.
Presenting the project for this session of Kickstarter, Karlsen Network (KLS).
January, 30 2024
Testnet-1 with fishhash Algorithm launched
We're thrilled to announce the launch of the Karlsen Network Testnet! This is a major step in our blockchain's development, focusing on testing our new hashing algorithm, KarlsenHashV2, inspired by the FishHash Whitepaper for a full ASIC resistance and a focus on GPU efficiency.
Our goal is to thoroughly evaluate KarlsenHashV2's performance and security. We invite blockchain enthusiasts, developers, and experts to join this open testnet and help us gather crucial data and insights.
January, 30 2024