Kaspa (KAS)
Kaspa (KAS) is a decentralized, open-source cryptocurrency that implements a proof-of-work (PoW) consensus mechanism utilizing the GHOSTDAG protocol. This innovative approach allows for the coexistence of parallel blocks, enhancing scalability and transaction throughput compared to traditional blockchain systems.[1]
History
Kaspa's mainnet launched on November 7, 2021, with the genesis block mined on November 8, 2021. The project launched without pre-mining or pre-sales, highlighting an equitable and decentralized distribution model.medicine.[2]
Technology
GHOSTDAG Protocol
At the center of Kaspa's design is the GHOSTDAG (Greedy Heaviest Observed Subtree Directed Acyclic Graph) protocol. In contrast to other blockchains that reject parallel blocks, GHOSTDAG keeps parallel blocks and orders them during consensus.[3] This design creates a blockDAG, which supports increased block rates and accelerated transaction confirmation without compromising security.[4]
BlockDAG Architecture
Kaspa's blockDAG architecture supports the parallel creation and confirmation of multiple blocks. This ability to process in parallel greatly increases the network's scalability and lowers transaction latency.[5]
Proof-of-Work Mechanism
Kaspa uses a PoW system identical to Bitcoin's but tailored for its blockDAG structure. Such a design reduces problems such as block propagation delays and orphaned blocks, hence enhancing the performance of the network overall.
Features
- High Throughput: The network supports rapid block rates, currently operating with one block per second, aiming for even higher rates in future upgrades.
- Low Transaction Fees: Efficient processing reduces congestion, leading to minimal transaction costs.
- Security and Decentralization: Kaspa maintains a secure network without compromising decentralization, achieved through its PoW system and the GHOSTDAG consensus mechanism.
- Fair Launch: The project was introduced without pre-mining or centralized token allocations, ensuring equitable access for all participants.
Tokenomics
Kaspa has a total supply of 28.7 billion KAS coins. The emission rate includes yearly halvings with reductions happening incrementally on a monthly basis by a factor of (1/2)^(1/12).
Market Performance
As of April 2, 2025, Kaspa's price is $0.065184 USD, with a 24-hour trading volume of $91,363,148 USD. The circulating supply is 25,957,817,639 KAS coins, placing it at a market cap of approximately $1.74 billion USD.[6]
Reception and Criticism
Kaspa has garnered attention for its unique approach to blockchain scalability. While many in the cryptocurrency community have expressed optimism about its potential, experts advise that comprehensive, independent testing is necessary to fully validate its long-term security and performance.[7]
References
- ↑ "Home". Kaspa. Retrieved 3 April 2025.
- ↑ "Kaspa price today, KAS to USD live price, marketcap and chart". CoinMarketCap. Retrieved 3 April 2025.
- ↑ Crowningshield, N. R. (25 July 2023). "Kaspa's Fair Launch". Kaspa. Retrieved 3 April 2025.
- ↑ "TOKENOMICS". Kaspa. Retrieved 3 April 2025.
- ↑ "What is Kaspa? | Messari". messari.io. Retrieved 3 April 2025.
- ↑ "About Kaspa". Kaspa. Retrieved 3 April 2025.
- ↑ "Kaspa (KAS) blockchain, explained: What it is, and how it works". Cointelegraph. Retrieved 3 April 2025.