Since Ethereum switched from PoW to PoS consensus, Kaspa (KAS) has become the target of GPU miners and is even considered one of the most profitable crypto assets. By leveraging BlockDAG technology and optimizing the PoW protocol, Kaspa has significantly improved mining performance. Let's find out in more detail about what Kaspa (KAS) is, how it works, who the founder is, and what its superior features are in the following review.
What is Kaspa (KAS)?
Kaspa is a crypto asset that implements GHOSTDAG, a protocol that generalizes the Nakamoto consensus (Bitcoin consensus) into a Direct Acyclic Graph of Blocks (blockDAG). Unlike traditional blockchains that use a single chain, blockDAG orders all blocks in parallel in consensus, thereby facilitating very high block rates, instant transactions, and scalability without the cost of security.
Currently, Kaspa can create one block per second. This means that Kaspa can process transactions much faster than Bitcoin, which currently has an average block time of 10 minutes. In the future, the development team plans to increase the block capacity again to 10 or even 100 blocks per second. This scalability ability is a plus point for Kaspa compared to other blockchains.
How Kaspa (KAS) Works
As previously explained, the BlockDAG structure implemented by Kaspa is derived from the GhostDAG protocol, a more scalable version of the Nakamoto consensus used in Bitcoin. The advantage of Kaspa's BlockDAG structure lies in its minimal waste of blocks, in contrast to other PoW-based cryptocurrencies.
In other words, every block and chain plays a role in improving network security with nothing being wasted. A concrete example of this principle can be seen in the concept of “orphan blocks,” namely blocks that are considered invalid because they do not belong to the longest chain, resulting in unnecessary waste of computing power and energy consumption.
Source: Kaspa.org
Kaspa adopts a method called pruning to reduce the size of BlockDAG. This approach helps nodes to store only essential data, without needing to involve large amounts of information. This means that Kaspa nodes only store the history of the previous three days, allowing the creation of multiple nodes without large storage requirements.
The pruning mechanism implemented by Kaspa is carefully designed to provide resilience against potential attacks from malicious actors, by implementing finality and invalidation rules to maintain network security. Overall, Kaspa is the only cryptocurrency that can manage the number of transactions and instant confirmations easily, just by basing it on the simple principle of PoW consensus. Kaspa achieves high performance by using basic, commonly understood tools.
Basically, Kaspa is a simple but effective generalist version of the Nakamoto consensus.
Source: Kaspa.org
Who are the founders behind the success of Kaspa (KAS)?
Kaspa was designed by DAGLabs, which is an R&D company founded by Dr. Yonatan Sompolisky. In 2013, Yonatan earned a degree in crypto assets academics while drafting the GHOST protocol, a protocol famous for being cited in the Ethereum whitepaper .
Yonatan currently holds a postdoctoral position at Harvard researching transaction ordering protocols and MEV.
What Makes Kaspa (KAS) Unique?
Kaspa is a crypto asset that can support multiple transactions while maintaining security. Currently, Kaspa's main network can process one block every second. Later, the development team will try to increase its capabilities to perhaps reach 10 or even 100 blocks per second.
Additionally, Kaspa has unique rules regarding the number of coins created, which decrease over time. This is done based on a musical scale with 12 notes. This policy, referred to as the chromatic phase, begins on May 7, 2022, with an initial block reward of 440 KAS.
Every year, the block reward will be halved, but slowly: every month, the block reward is reduced by a factor of (1/2)^(1/12). In essence, the comparison of block rewards from month to month is equal to the comparison of the frequency of two consecutive semitones on the tempered chromatic scale. The initial block reward is equivalent to the note frequency A4, and each year covers one octave.
Keep in mind, this rule determines how many coins are created every second, regardless of the number of blocks. If Kaspa changes the number of blocks in the future, the reward will be changed to keep the emission rate constant.
What are the uses of KAS tokens?
KAS is the native token on the Kaspa network that acts as the primary medium of exchange. These tokens can be used for transactions and payments within the network ecosystem, as well as providing incentives to miners and validators to maintain blockchain security.
In addition, KAS tokens are involved in network management, allowing token holders to participate in decision-making and voting processes regarding protocol changes and improvements.
wKAS is a wrapped KAS token , which is represented on the Ethereum network. The token was created to ensure smooth connections between the Kaspa network and Ethereum. wKAS tokens are held at a 1:1 ratio to KAS tokens, so each unit of wKAS tokens represents an equivalent number of KAS tokens within the Kaspa ecosystem.
Tokenomics
Source: Kaspa.org
Fairly launched in November 2021 with no cash, no pre-sale, and no coin allocation; Kaspa is 100 percent decentralized, open source , and maintained by the community. The maximum supply of Kaspa is 28.7 Billion KAS with an emissions schedule that is divided twice per year through a smooth monthly reduction by a factor of (1/2)^(1/12).
On November 28, 2023, Kaspa (KAS) was ranked 27th based on CoinMarketCap data with a market capitalization of IDR 44.6 trillion and a 24-hour trading volume of IDR 799.8 billion.
Conclusion
Kaspa is an innovative blockchain project that combines the security of PoW mechanisms with high block rates and minimal confirmation times. With its unique features and commitment to scalability, Kaspa has the potential to become a major player in the decentralized application space.
How to Buy Kaspa (KAS) on Bittime
You can buy and sell rats tokens in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti.
To be able to buy KAS tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000.
After that, you can make CASH purchases in the application. CASH is available on Bittime in CASH IDR pairing .
Monitor price chart movements of Kaspa (KAS), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
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| What is Pyth Network (PYTH)? | What is Internet Computer (ICP) |
| What is Sei Network (SEI)? | What is Celestia (TIA)? |
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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