1. Radiant Official Community Announces Upcoming ASIC Release
Radiant, a Layer 1-based cryptocurrency that is not yet widely known in South Korea, is a community-driven blockchain project. In Radiant, key decisions are made through consensus among community members.
These community members drive the project forward through various social media and online forums, including X, Telegram, Discord, and Reddit, with Discord serving as the central hub.
On July 3, 2024, one of Radiant’s key community leaders, known as ‘The Art of Satoshi,’ officially acknowledged on Discord that ASICs are now operational within the Radiant network.
While the name of the ASIC manufacturer, referred to as ‘The Entity,’ was not disclosed, this announcement confirmed the rumors of ASIC presence and officially marked Radiant’s transition from GPU mining to an ASIC-based network.
Radiant Coin Basic Information (as of August 22, 2024):
- Name: Radiant
- Ticker Symbol: RXD
- Launch Date: 2022
- Founder/Development Team: Team Radiant
- Market Capitalization: Approximately $300,000,000
- Circulating Supply: Approximately 20,000,000,000 RXD
- Max Supply: 100,000,000,000 RXD
- Exchange Listings: MEXC, BitMart, etc.
- Consensus Algorithm: Proof of Work (PoW)
- Official Website: https://radiantblockchain.org
2. Clarification on Radiant ASIC Development Uncertainty
Radiant coin, which operates on a Layer 1 blockchain, launched its genesis block on June 21, 2022. Developed around the same time as Kaspa, Radiant is a decentralized community-based coin using the SHA512/256 algorithm in a Proof of Work (PoW) system.
After Ethereum ended GPU mining, many miners transitioned to Kaspa and Radiant. Those who chose Kaspa realized profits, while Radiant miners likely earned less.
Ironically, Radiant was originally designed with ASIC resistance in mind, aiming to maintain decentralization.
Radiant maintained a price of around $0.002 until December 2023, but then its price plummeted while its hashrate surged. The increase in hashrate was speculated to be due to the connection of multiple FPGAs or the development of ASICs, leading to diminished GPU mining profitability, and causing community members to leave, with the price dropping to around $0.0006.
However, in July 2024, Radiant’s core leadership announced a partnership with ASIC manufacturer ‘The Entity,’ dispelling uncertainties about ASICs and potentially positively impacting future price increases.
3. The Emergence of ‘The Entity’ ASIC Manufacturer and Implications for Radiant
Radiant experiences a halving every two years and has gone through its first halving this year.
With a total supply of 21 billion coins, 53.85% has been mined, leaving approximately 1.1 billion coins in circulation. As of August 9, 2024, Radiant’s market capitalization is about $10 million (approximately 13.7 billion KRW), indicating it is still in the early stages of establishing itself.
Developing an ASIC for a specific blockchain algorithm requires substantial investment. The fact that an ASIC manufacturer has developed a dedicated ASIC device for Radiant suggests potential price growth and project expansion, indicating that the device could realize sufficient profitability.
As seen with Kaspa and Alephium, the announcement of an ASIC release can lead to a rapid short-term price surge and lay the foundation for long-term growth. The Radiant ASIC, already developed and operating at about 200Th/s, confirmed its presence with the network hashrate rising from 60Th/s in May 2024 to 200Th/s.
4. Partnership Between ‘The Entity’ ASIC Manufacturer and the Radiant Community
Without a separate foundation, the Radiant community plans to use donated coins for marketing and app development, playing a significant role in Radiant’s growth.
‘The Entity,’ the ASIC manufacturer, has expressed its commitment to contributing to the security of the Radiant network and growing alongside the community through communication with Radiant community leaders.
Currently dominating the Radiant network with a 200Th/s ASIC, ‘The Entity’ is mining about 8 million Radiant coins daily and has announced it will donate 10% of its block rewards (about 5% of its daily mining volume) to the Radiant Community Fund.
This donation amounts to approximately 400,000 Radiant coins per day, equivalent to $360 at current prices. The Radiant community, which lacks a separate foundation, plans to use this donation for marketing and app development to drive project growth.
5. The Identity of ‘The Entity’ ASIC Manufacturer
There is much speculation within the Radiant community about the identity of ‘The Entity.’ Some believe it may be a completely new ASIC manufacturer, similar to IceRiver, which released the first Kaspa ASIC. Others suggest it could be a major ASIC manufacturer like Bitmain.
Personally, I believe that the company manufacturing Radiant ASICs is likely an existing ASIC manufacturer.
While the release of Radiant ASICs does not guarantee a 100% return, it is possible to significantly reduce costs by developing only the Radiant ASIC algorithm chip for existing ASIC models. Therefore, it is likely that an established ASIC manufacturer like GOLDSHEL, ICERIVER, or BITMAIN is behind this development.
6. Timing and Outlook for the Release of Radiant ASICs
Radiant’s price has continued to decline and is currently trading at around $0.0008.
Two years after the creation of the Radiant genesis block, investors in Radiant are concerned about losses due to falling prices and hope for an early ASIC sale. However, ‘The Entity’ has not yet disclosed specific information about the sales timeline. The manufacturer appears to be mining Radiant coins exclusively, holding a significant amount, and potentially expecting to realize profits from price increases and ASIC device sales.
However, it appears that ‘The Entity’ is selling the large quantities of coins it mines daily on the market, potentially leading to a structure where Radiant’s price could fall to a level that would be difficult to recover, resulting in distrust of the project. Therefore, lowering profit expectations and releasing Radiant ASICs early could benefit both the Radiant community and ‘The Entity.’
7. Radiant ASIC Release and Investment Outlook for Radiant Coin
To predict the impact of Radiant’s ASIC release on its price, it is helpful to consider the example of Alephium. While Alephium saw a significant price increase with the announcement of Goldshell’s ASIC release, the price has since continued to decline following the announcement of high-hashrate ASIC releases by other companies.
Despite considering negative factors such as the U.S. recession and war-related risks affecting the stock and cryptocurrency markets, Alephium has not shown sustained price increases like Kaspa following its ASIC release.
Although Radiant is currently operating ASICs and plans to officially sell them in the future, it has not seen the same price increase as Alephium. This could be because Alephium had more investors and a higher market capitalization than Radiant before the appearance of ASICs.
On the other hand, this also suggests that many investors are still unaware of Radiant, making this a good opportunity to acquire a large amount of Radiant coins with a small investment in a market where the price has significantly declined.
In the high-risk/high-return world of cryptocurrency, there have not been many cases where the upcoming release of an ASIC has been confirmed in advance.
Although the timing is uncertain, a significant price increase is inevitable when ASICs are announced for public sale. I recommend realizing the first round of profits once ‘The Entity’s’ identity is revealed and the Radiant ASIC model, price, and shipping date are confirmed. After realizing profits, you can re-enter the market based on price trends to expect stable returns.
I hope that everyone reading this article will succeed in cryptocurrency investing and achieve financial freedom!
