Kaspa (KAS/USDT – Trade it Here) is a proof-of-work (PoW) cryptocurrency that implements the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not create orphan blocks in parallel, but allows them to coexist and sort them in consensus. The Kaspa blockchain is actually a blockDAG. This generalization of the Nakamoto consensus allows for secure operation while maintaining very high block rates (currently one block per second, targeting 10/s, dreaming of 100/s) and minuscule commit times dominated by Internet latency. In this article, we will discuss everything you need to know about Kaspa plus a guide on how to buy KAS tokens.
Who created Kaspa (KAS)?
Former Harvard student and one of the researchers behind the GHOSTDAG protocol which was part of Ethereum’s original roadmap, Yonatan Sompolinsky created and launched Kaspa, a new digital currency network.
Use cases and key features of Kaspa coin (KAS)
Instant confirmation Instant ledger confirmation is critical for the user and developer experience, integration with other web applications, and fast transaction settlement. Kaspa achieves that by minimizing the consensus engine’s latency on transaction flow and user experience.
Peripheral nodes Peripheral nodes help mitigate serious frontrunning and MEV threats. Therefore, we don’t have to worry about miners and trading bots trying to manipulate transactions and gain an unfair advantage over ordinary users. The sub-second block times allow for pre-trade privacy and stealth transactions, which protect users from such manipulations.
Rapid and scalable transaction sequencing Kaspa’s base layer concentrates on developing into a rapid and scalable transaction sequencing (also known as proof-of-publication) engine. Therefore, the base consensus will only keep track of the state of payments. On the other hand, Layer Two operations will keep track of the more comprehensive and expressive form.
Another natural way that the Kaspa network seeks to address a timely issue for crypto projects and users is by providing a shared, scalable transaction sequencing layer, quicker settlement times, and stealth pre-trade transactions that protect against censoring miners and bootstrapping an ecosystem of cross-silo communication.
Security Kaspa employs the same security principles and methodology as bitcoin by replacing SHA-256 PoW encryption with kHeavyHash. kHeavyHash, which inherits all security properties from SHA-256, is a modification of the SHA-256 hash algorithm that also includes a weighting function. Thus, blockDAG is protected by a robust network of decentralized volunteers (miners) who validate and sign transactions. Just like bitcoin, kaspa is also fully decentralized and permissionless. Anyone can participate and anyone can help secure the network.
BlockDAG Kaspa is the first blockDAG (non-blockchain) cryptocurrency. A blockchain is a linear system, where transactions are recorded in blocks, which are time-ordered and sealed. A blockDAG is a directed acyclic graph – a mathematical structure where vertices represent blocks and edges refer to child/parent blocks. This new distributed ledger implementation is the first of its kind – enabling next-generation scalability, high-throughput transactional bandwidth, instant confirmations, while remaining decentralized.
The Kaspa (KAS) Ecosystem
Can the Kaspa cryptocurrency be mined ?
Kaspa is the fastest minable and proof-of-work coin on the planet. The blockDAG architecture with fast block rates allows for more mining decentralization and enables effective solo mining with lower hashrates. The cryptocurrency was released in November 2021 with no pre-mining, no pre-sales, and no coin allocations. Kaspa is 100% decentralized, open-source and community-managed.
Kaspa mining is based on kHeavyHash, a modified form of the “optical miner” ready HeavyHash algorithm. kHeavyhash uses matrix multiplication which is framed in 2 keccacs. kHeavyHash is energy efficient, core dominant and can be successfully mined by GPU, FPGAs and future specialized mining equipment.
To participate in the Kaspa ecosystem, users can set up their mining nodes. The community has produced a GPU miner based on CUDA that allows users to earn tokens as rewards. In short, yes the Kaspa cryptocurrency can be mined.
How Many Kaspa Wallets are there? The Kaspa wallet is currently available in three different forms;
- The Kaspa Web Wallet
- Kaspa Desktop Wallet
- Kaspa Command Line Wallet
Decentralized Kaspa Nodes On September 1, 2022, Kaspa partnered with Flux, a major provider of distributed cloud solutions, to launch Kaspa blockchain nodes on their cloud platform. The partnership will enable Kaspa to decentralize further and enhance its security and scale. Previously, there were approximately 13,500 Flux nodes hosted globally by the Kaspa node operators, with redundancy as their primary characteristic. There are multiple pathways between nodes, so if one link fails, there’s still another path for the network.
Tokenomics with recent price & performance of KASPA coin (KAS)
The circulating supply is 13.11B tokens. KAS reached the highest price (ATH) of 0.004 USDT on September 19, 2021. The lowest price since the date of ATH was 0.002 USDT on October 5, 2022. The 30 days performance sees the highest price at 0.005 USDT on September 27, 2022 and lowest at 0.002 on October 5, 2022. At the time of writing, its current performance is 0.0027 USDT with a market cap of $35,021,834 and fully diluted market cap of $76,676,857.
How to buy Kaspa Coin (KAS)?
You can buy Kaspa Coin (KAS)on MEXC by the following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “KAS” using the search bar to see the available trading pairs. Take KAS/USDT as an example.
- 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.
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