What is Kaspa – A Decentralized, Open-Source, and Scalable Layer-1 Solution (KAS)

Kaspa is an innovative blockchain project that combines Proof of Work (PoW) with fast block processing and short confirmation times. With its unique features and commitment to scalability, it aims to become a major player in the realm of decentralized applications (dApps).

Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (KAS/USDT – Trade it here) on the Innovation Zone! Check it out now!

What is Kaspa - A Decentralized, Open-Source, and Scalable Layer-1 Solution (KAS)
What is Kaspa – A Decentralized, Open-Source, and Scalable Layer-1 Solution (KAS)

What Exactly is Kaspa?

Kaspa positions itself as the fastest and most scalable Level 1 blockchain platform. It features instant validation transactions powered by a Proof of Work (PoW) consensus mechanism. Furthermore, it utilizes the GHOSTDAG/PHANTOM protocol. It is an advanced adaptation of the Bitcoin consensus, ensuring theoretical security equivalent to Bitcoin without additional assumptions. Unlike traditional blockchains that discard parallel blocks, PHANTOM allows them to coexist and organizes them through consensus, simplifying the Bitcoin consensus model.

Kaspa Addresses Bitcoin Consensus Issues

One of the significant challenges with the Bitcoin consensus is the vulnerability to network attacks where an attacker can issue slightly fewer blocks than the legitimate network. This flaw in isolated blocks undermines transaction validity. They could potentially enable a 51% attack with less than 51% of computational power. Thus, Kaspa addresses this issue by refining block rates and sizes to enhance network throughput while maintaining security.

The Founder and Team Behind Kaspa Network

Founder: Yonatan Sompolinsky

Yonatan Sompolinsky, a Ph.D. in Computer Science from Harvard University, is the founder of Kaspa. He is renowned for his contributions as a member of the Maximal Extractable Value (MEV) research team and his pivotal role in the development of Ethereum’s technology design. Sompolinsky designed the GHOSTDAG protocol, which is cited in Ethereum’s whitepaper and forms the foundational technology of Kaspa. His expertise spans critical aspects of blockchain technology, influencing the broader ecosystem.

Development Team

Kaspa’s development team comprises highly skilled individuals dedicated to advancing the Kaspa blockchain network:

  • Elichai Turkel: Cryptography Researcher
  • Shai Wyborski: Doctoral Student
  • Ori Newman: Developer
  • Michael Sutton: Master of Computer Science
  • Mike Zak: Developer

These team members have collectively contributed to the implementation and continuous enhancement of Kaspa’s blockchain technology. Their expertise in cryptography, software development, and computer science ensures the ongoing innovation and robustness of the Kaspa network.

How Does the Kaspa Blockchain Work?

The Kaspa blockchain was developed by DAGLabs in collaboration with PolyChain and operates on the GHOSTDAG protocol. This protocol enables blocks mined in parallel to coexist within the network, a feature known as BlockDAG.

BlockDAG Architecture

Unlike traditional PoW-based blockchains such as Bitcoin, where only one of two parallelly mined blocks is accepted, Kaspa’s GHOSTDAG protocol accepts all concurrently mined blocks and ensures they are added to the network in sequence.

Key Features

  1. Reachability: Kaspa ensures all blocks are reachable and can be verified within the network.
  2. Block Data Pruning: This feature allows the blockchain to optimize storage by removing unnecessary data while preserving essential information.
  3. Simple Payment Verification (SPV) Proofs: Users can verify transactions without downloading the entire ledger, enhancing efficiency and scalability.

Transaction Processing

Initially validating one block per second, the Kaspa blockchain aims to increase its processing capacity to handle 10-100 blocks per second. Its subnetwork support enables the development of layer 2 blockchain networks, providing scalability options for other projects leveraging Kaspa’s infrastructure.

What Makes Kaspa Unique?

Kaspa sets itself apart from traditional blockchains primarily through its implementation of the GHOSTDAG proof-of-work consensus protocol. Unlike traditional blockchains that discard parallel blocks, GHOSTDAG allows Kaspa to accept and order these blocks in consensus. This innovative approach eliminates the need to orphan blocks, thereby enhancing transaction throughput and scalability while maintaining the security guarantees akin to Bitcoin.

Kaspa also positions itself as a scalable extension of the Nakamoto Consensus, faithfully adhering to the foundational principles established by Satoshi Nakamoto. This scalability is achieved without compromising on decentralization or security, marking a departure from the typical trade-offs faced by traditional blockchain architectures.

Furthermore, Kaspa prides itself on being a community-driven project. The distribution of its native cryptocurrency, KAS, was conducted through a fair launch, emphasizing equitable access and community participation. Governance of the Kaspa network is also community-centric, ensuring that decisions are made inclusively and transparently by its stakeholders.

KAS Token – The Native Token of the Kaspa Blockchain

KAS token serves as the native token within the Kaspa blockchain ecosystem. It is generated through the process of mining, which operates under a Proof of Work (PoW) consensus mechanism. The blockchain’s innovative BlockDAG architecture and rapid block validation rates enable even users with low hash rates to participate effectively in solo mining.

Similar to Bitcoin’s tokenomics, the Kaspa coin has a capped total supply of 28.7 billion tokens. Mining rewards follow a schedule where they are halved annually, mirroring Bitcoin’s approach. As the adoption of the Kaspa blockchain and its tokens grows, the price of the KAS token has experienced significant growth, witnessing an increase of over 98,000% since its inception.

Where to buy KAS Token

You can find KAS Tokens here at MEXC! We are listing KAS/USDT in our Innovation Zone! Furthermore, you can receive 100% spot trading fee discounts while holding MX tokens. Get yours now!

What is the Price of KAS Tokens?

The KAS Token is currently trading at MEXC with a live price of $0.154864. You can check the live price of their token right here!

How to buy KAS Tokens on MEXC

You can buy KAS Tokens on MEXC by following the steps:

  1. Log in to your MEXC account. Click on [Spot].
  2. Search “KAS” using the search bar to see the available trading pairs. Take KAS/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of KAS you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy KAS] to confirm your order. You will find the purchased KAS in your Spot Wallet.

You can find a detailed guide on how to buy KAS Tokens here.

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