What is Kaspa? What is Kaspa? Kaspa is a Layer 1 coin with Proof of Work mechanism using BlockDAG technology for the fastest speed, decentralization and excellent scalability worldwide. So what is special about Kaspa? Let’s find out with HAK Research in this article.
To better understand what Kaspa is, people can refer to some of the articles below:
- What is Proof Of Work (POW)? Advantages, Disadvantages and Core Operating Mechanism of Bitcoin
- What is EthereumPoW (ETHW)? Overview of Cryptocurrency EthereumPoW
Kaspa Overview
What is Kaspa?
Kaspa is a Layer 1 coin with a Proof of Work mechanism using BlockDAG technology for the fastest speed and scalability worldwide. More complete than Bitcoin, in addition to speed, Kaspa also meets the criteria of decentralization with open source code (Open Source).
What is Kaspa?
BlockDAG (Directed Acyclic Graph) technology uses the GHOSTDAG protocol. Unlike traditional Blockchains, GHOSTDAG does not create individual blocks but allows them to coexist in parallel and arrange them according to Consensus (consensus) to produce a Block in just one second.
Besides, in addition to using PHANTOM protocol, it allows high Block ratio to maintain an extremely safe Proof of Work environment, difficult to attack.
BlockDAG simulation works
It doesn’t stop there, with the ambition of being able to process up to 32 Blocks per second (BPS), with a maximum of 100 Blocks per second (BPS). More important is the enhancement of Kaspa’s security, scalability, reliability, and maintainability. In July 2022, developers began rewriting Kaspa using Rust, and the official Rust Alpha version was released in April 2023, marking a historic milestone that opened a new era for Kaspa Block Chain when it met Meets all three factors Scalability, Security, Decentralized.
Hashrate parameters
The hashrate rate is the leading number that reflects how the mining network is performing. A simple explanation of hashrate, it reflects the mining performance of mining hardware and is measured in seconds.
Each solution performed on the network is called a hash. That mining efficiency is measured in h/s. The parameters are converted similarly to the following:
- 1 Kh/s = 1 000 h/s
- 1 Mh/s = 1 000 Kh/s = 1 000 000 h/s
- 1 Gh/s = 1 000 Mh/s = 1 000 000 Kh/s = 1 000 000 000 h/s
- 1 Th/s = 1 000 Gh/s = 1 000 000 Mh/s = 1 000 000 000 Kh/s = 1 000 000 000 000 h/s
- 1 Eh/s = 1 000 Ph/s = 1 000 000 Th/s
Solution roughly translated as calculation solutions or algorithmic solutions. Each GPU or mining device has different calculation parameters. From there, Miners or Users can consider and build suitable, high-performance equipment to participate in the mining network to earn profits. For small individuals, we can preview mining profits with the number of available devices through the calculation website 2CryptoCalc or Whattomine.
Kaspa uses the KHeavyHash algorithm. An algorithm that optimizes the power of the GPU and balances two factors: power and temperature. It can be said that this is also the reason why Kaspa is of special interest to Miners or small individual miners at the end of 2023. Currently, Kaspa has a few on-chain parameters as follows:
- Network hashrate: 61.95 PH/s
- Network difficulty: 14.3 M
- Block reward: 155,564 KAS
- Block time: 1 Sec
- Daily emission: 13,440,694 KAS
- Return 1 Mh/s: 0.000219
The impressive numbers mentioned above prove that this is truly a dark horse in the cryptocurrency mining industry. Its mining difficulty surpasses famous mining coins with large communities such as Dogecoin, Ethereum Classic or Litecoin. KAS’s network hashrate is 6000 times higher than ETHW. Currently, Kaspa is second only to its big brother Bitcoin. Everyone can refer to hashrate.no to update hash rate in the fastest and most accurate way.
Notable features of Kaspa
Aims to inherit and develop and expand more effectively than its big brother Bitcoin. Kaspa has some notable features such as:
- Fast transactions: As mentioned above, with the mechanism that Kaspa is operating, it can process millions of transactions every day without worrying about network overload or congestion.
- Instant confirmation: Kaspa is designed to be hundreds of times faster than Bitcoin, with each Kaspa transaction visible on the network in one second and each transaction fully confirmed in an average of 10 seconds. It is only very slightly influenced by internet latency
- Scalability: Kaspa solves the scalability problem with its ability to generate and confirm multiple blocks per second. This does not come with the security and decentralization trade-offs seen with Proof of Stake networks.
- Efficient Proof of Work: Kaspa uses the optical mining-ready kHeavyHash algorithm to ensure network consensus and security. This algorithm, combined with a high-throughput DAG and zero-waste blocks, makes it less energy-intensive than other PoW networks.
- Security: Kaspa mines an extremely secure block network without compromising decentralization. Use Proof of Work pure, no Staking required, combined with the revolutionary GhostDAG Consensus mechanism.
- BlockDAG: Overcoming the blockchain problem, Kaspa processes all Blocks in parallel and links all side-chains. This significantly increases the formation of Blocks per second.
Kaspa ecosystem
Because this is a PoW coin, the ecosystem only includes a few Dapps and focuses on developing security features and personal wallet management such as KASPA WEB/MOBILE WALLET or kdx.app or Zelcore.
Regarding Defi, this is not the project’s strong point, however it is also present on chainge.finance with a few Liquidity Pools and Trading Pairs.
Development Roadmap
From April 2023 after the release of the Rust Alpha version running on the Kaspa network. The project team has no information about further development plans.
Core Team
The team behind the establishment of Kaspa is the R&D company Daglabs invested by Polychain. With a scale of 11 to 50 employees. However, they only built Kaspa with the criteria that this is a community project, Open Source, no central administration and no business model.
Founder is Mr. Yonatan Sompolinsky:
- In 2013 – 2018, he studied at the Hebrew University of Jerusalem. During his time in school, he wrote articles about ghost protocols cited in the Ethereum Whitepaper.
- Currently, he is a CS Postdoc at Harvard University in the MEV research group.
- Along with that is the work of contributing and developing Kaspa to maintain the network to always operate stably and smoothly.
Investor
Kaspa has no investors.
Tokenomics
Basic information about KAS token
- Token name: Kaspa
- Ticker: KAS
- Blockchain: Kaspa
- Standard: Native token
- Total Supply: 28,700,000,000
Token Allocation
Kaspa has never had any pre-mining or pre-sale campaigns and all coins can only be obtained through mining.
Token Release
According to the project’s announcement, KAS’s total supply is limited to 28.7 billion. During the first six months after mainnet, 1,314,900,000 KAS coins will be released each month. By the seventh month, the monthly supply had been cut by 12%. For details, everyone can refer to Kaspa’s emissions schedule published by the Kaspa Emission Schedule team. Below is the token release from now until 2025.
Token Use Cases
- Pay transaction gas fee.
- Participate in Kaspa dApps.
- Miners are rewarded for participating in transaction validation and network security.
Exchanges
Currently KAS is present on exchanges with Spot trading pairs: Kucoin, Bybit, Gate.io, MEXC….
In particular, on November 17, 2023, KAS will be present at Binance with the permanent KASUSDT derivatives trading pair.
Kaspa’s Information Channel
- Website: https://kaspa.org/
- Twitter: https://twitter.com/KaspaCurrency
- Discord:
Summary
Kaspa is a rare Proof of Work project that is very fast, along with scalability, security and decentralization. Only launched in 2021 but has many optimal features, plus the impending BTC having event in April 2024. Kaspa has seen growth in both mining parameters and prices, with only Since the beginning of 2023, KAS has continuously had new ATH with ROI up to 3000%
If compared in terms of mining difficulty, hash rate as well as emission rate, only behind Bitcoin, Kaspa can completely surpass Dogecoin or Litecoin in terms of market capitalization. This means that KAS price may still have a lot of growth momentum in the near future.
