Overview
Kaspa (KAS) claims to be the fastest and most scalable Layer-1 blockchain, built on a proof-of-work engine and structured as a blockDAG. The platform’s creators assert that this enables immediate inclusion of transactions in the ledger.
GhostDAG/PHANTOM Protocol
The platform’s underlying technology is based on the GhostDAG/PHANTOM protocol, a scalable version of the Nakamoto Consensus, aiming to retain core Bitcoin principles like proof-of-work mining and a UTXO-formed state. This protocol allows Kaspa to support high block rates while maintaining the security level of established proof-of-work environments.
Addressing the Blockchain Trilemma
Kaspa claims to solve the blockchain trilemma of balancing security, scalability, and decentralization by integrating orphan blocks into the chain, forming a blockDAG. The protocol uses a greedy algorithm for block ordering, favoring well-connected, honest blocks. These capabilities allow Kaspa to improve block rates substantially while maintaining security.
Key Features According to Kaspa
- Fast Confirmations: The platform is designed for fast confirmations, essential for use cases requiring immediate proof of publication.
- High Throughput: Kaspa’s technology removes the security bottleneck, allowing for increased block rate and size.
- Mining Decentralization: It aims to reduce mining income variance and foster decentralization.
Vision and Tokenomics
Kaspa’s vision is to build a system that transcends Bitcoin’s protocol while adhering to its original principles. The project draws inspiration from the role of silver in history, aiming to be more circulative and widely accepted for payments. Its tokenomics features a maximum supply of 28.7 billion coins with a unique emission schedule designed to promote mining decentralization.
Core Development Team
Significant contributors to Kaspa’s development include Michael Sutton (distributed systems researcher), Shai Wyborski (Kaspa researcher and GHOSTDAG paper author), Mike Zak (cryptocurrency developer), Elichai Turkel (applied cryptographer), and Ori Newman (cryptocurrency developer).
Crypto Exchanges Supporting the KAS Token
Here are some of the exchanges where the KAS token may be traded: KuCoin, MEXC, Bybit, Bitget, Uphold.
Performance of the KAS Token
Currently, KAS is trading at around $0.144803, up 35.2% in the past 24-hour period with a market cap of approximately $2.86 billion making it currently the 28th most valuable cryptoasset. The KAS token is up over 2585% in the year-to-date period and since its all-time low of $0.00017105, which was reached on 26 May 2022, its price is up an impressive 77,430.64%.
Hot Take: The Future of Kaspa
Kaspa’s innovative approach to blockchain scalability and security makes it an intriguing project in the cryptocurrency space. Its rapid growth in value demonstrates significant investor interest and confidence in its long-term potential. As blockchain technology continues to evolve, Kaspa’s unique positioning as a scalable Layer-1 blockchain could see it becoming increasingly influential within the broader crypto ecosystem.
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