Kaspa is a proof-of-work (PoW) cryptocurrency that implements the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not orphan blocks created in parallel but allows them to coexist and orders them in consensus. The Kaspa blockchain is actually a blockDAG, allowing for very high block rates and minimal confirmation times.
Founders and Development Team
Kaspa was envisioned by R&D company DAGLabs, through investment by PolyChain. The founder is Yonatan Sompolinsky, Postdoc CS at Harvard University. The core developers and contributors include various cryptography researchers and developers.
Unique Features:
- High block rates while maintaining security in proof-of-work environments.
- Unique monetary policy decreasing emissions geometrically over time.
- Community-driven, open-source, and decentralized.
Current Statistics (as of 30th July 2023):
- Price: $0.03647
- Market Cap: $725,924,915
- Circulating Supply: 19,905,293,845 KAS
- Max. Supply: 28,704,026,601 KAS
- All-time High: $0.04238
- All-time Low: $0.0001699
Kaspa’s Vision and Mission
Kaspa aims to build a Nakamoto-like service that operates as fast as internet speed allows. Kaspa is surpassing the limitations of Satoshi’s v1 protocol (Nakamoto Consensus) while adhering to the principles embedded in Bitcoin. Unlike Bitcoin, which has become a store of value, Kaspa seeks to fulfill Satoshi’s original vision of a peer-to-peer electronic cash system. The project looks to silver (Kaspa in Aramaic) as a metaphor, being less precious than gold but more circulative and acceptable as payment.
Consensus Stack and Challenges
Kaspa’s consensus stack is designed to address leading challenges in crypto, focusing on the speed of transaction inclusion and control over transaction ordering. The goal is to provide instant confirmation without compromising decentralization. Sub-second block times are key to mitigating threats like frontrunning and MEV (Miner Extractable Value).
Technology behind KASPA
Kaspa took the challenging path of designing the system based on Satoshi’s paradigm. Focusing on becoming a fast and scalable transaction sequencing engine. The base consensus will maintain the state of payments (UTXO set), while more general state computation will be outsourced to Layer Two operations, such as rollups.
KASPA: Key Questions and Answers
What is Kaspa?
Kaspa is a transaction sequencing layer that allows for instant confirmation. It’s based on the PHANTOM protocol, a scalable generalization of Nakamoto Consensus, and maintains the principles of proof-of-work mining, UTXO-formed isolated state, deflationary monetary policy, no premine, and no central governance. Kaspa’s unique design supports high block rates while maintaining the security of proof-of-work environments, operating with 1 block per second and potentially stretching to 10 or even 100 blocks per second in the future.
What Problem Does Kaspa Solve?
Kaspa implements the PHANTOM GHOSTDAG protocol, a proof-of-work cryptocurrency that doesn’t orphan blocks created in parallel but allows them to coexist and orders them in consensus. Unlike other blockchains, Kaspa addresses the problem of the Nakamoto consensus where a 51% attack requires less than 51% of hashing power. By increasing the throughput of the network, Kaspa overcomes the throughput/security tradeoff, a significant challenge in traditional blockchain systems.
How Does Kaspa Fix This?
Kaspa utilizes a Directed Acyclic Graph (DAG), allowing a block to point to multiple other blocks. Double Spending is prevented by the specific manner in which the blocks are ordered. The DAG is transformed into a chain, traversed, and all non-contradicting transactions are included. This ordering is the core of GHOSTDAG, and it’s proven to be secure through a special property called the freeloading bound.
Comparison with Other DAGs: How is KASPA different ?
Unlike other DAG-based projects like Nano or IOTA, $KAS is a generalization of the Nakamoto consensus, theoretically as secure as Bitcoin. It’s also provably secure and aims to be faster than other coins. Kaspa’s level of decentralization and proof-of-work approach sets it apart from other DAG-based projects.
Potential Applications
Kaspa aims to solve timely pain points for crypto projects and users. It is providing a shared scalable transaction sequencing layer, shorter finality times, and stealth pre-trade transactions. The network aspires to be a natural solution for bridging gaps between fragmented rollups and enhancing cross-silo communication. As the fastest and most scalable instant confirmation transaction layer ever built on a proof-of-work engine, Kaspa has the potential to revolutionize the way transactions are processed. By circumventing the traditional security-scalability-decentralization tradeoff of blockchains, it maintains the security guarantees of Bitcoin, positioning itself as a groundbreaking solution that could pave the way for new applications and innovations in the decentralized finance space.
How to buy $KAS token ?
For those interested in purchasing $KAS token, the token is available on various crypto exchanges. $KAS as the time of writing this text is already in TOP 100 of cryptocurrencies. It is well recognized, hence it is available on quite few crypto exchanges, including:
- Kucoin,
- Gate.io,
- Vitex,
- Txbit,
- TradeOgre,
- MEXC Global.
We are not providing any financial advices, do your own research before buying assets.
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