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About Kaspa
Key Points
- Kaspa is a proof-of-work (PoW) cryptocurrency implementing the GHOSTDAG protocol.
- Block rate: 1 block per second, aiming for 10/sec, and dreaming of 100/sec.
- Features: Reachability, Block data pruning, SPV proofs, and subnetwork support.
- Founder: Yonatan Sompolinsky, Postdoc CS at Harvard University.
- Unique features: High block rates, security, and a unique monetary policy.
- Monetary policy: Decreases emissions geometrically over time based on the 12-note scale of music.
- Circulating supply: Around 8.
About Kaspa: Empowering a New Era of Blockchain Innovation
Introducing KASPA (KAS): A Revolutionary Cryptocurrency
Kaspa is a proof-of-work (PoW) cryptocurrency that leverages the innovative GHOSTDAG protocol. Unlike traditional blockchain architectures, GHOSTDAG does not discard blocks created in parallel; instead, it enables them to coexist and establishes a consensus-driven ordering mechanism. The Kaspa blockchain, in essence, is a blockDAG. This generalized Nakamoto consensus paradigm facilitates secure operation while maintaining exceptionally high block rates (currently one block per second, with a goal of 10/sec and an ambitious target of 100/sec) and remarkably low confirmation times, largely dictated by internet latency.
The Kaspa implementation boasts an array of innovative features, including Reachability, which enables querying of the DAG’s topology, Block data pruning (with imminent plans for block header pruning), SPV proofs, and forthcoming subnetwork support, thereby paving the way for seamless implementation of layer 2 solutions in the future.
The Visionaries Behind Kaspa: Meet the Founders
Kaspa was conceived by R&D powerhouse DAGLabs, with strategic investment from PolyChain.
Notwithstanding, Kaspa is a community-driven endeavour, boasting a completely open-source framework, devoid of central governance and bereft of a business model.
The founder, Yonatan Sompolinsky, a Postdoctoral Research Fellow in Computer Science at Harvard University, is a member of the esteemed MEV Research Team.
Notably, Yonatan’s seminal 2013 paper on the Ghost protocol is referenced in the esteemed Ethereum Whitepaper.
The core development team behind Kaspa comprises esteemed individuals, including Shai Wyborski, a doctoral student in Cryptography; Michael Sutton, a Master’s degree holder in Computer Science; Mike Zak, an undergraduate student in Computer Science; Elichai Turkel, a seasoned cryptography researcher; and Ori Newman, a skilled developer. Collectively, they have made substantial contributions to the implementation and stabilization of the network.
Kaspa’s Distinctive Edge: Unveiling a Novel Approach
Kaspa stands out for its exceptional capacity to support high block rates while upholding the robust security inherent in proof-of-work environments. Currently, Kaspa’s mainnet operates at an impressive 1 block per second. Looking ahead, the core development team and researchers will focus on pushing the limits of this capability, with ambitious targets of 10 or even 100 blocks per second.
Kaspa boasts a distinctive monetary policy, which features a geometric decrease in emissions over time, inspired by the 12-note scale of music. This innovative approach, dubbed the chromatic phase, was activated on May 7th, 2022, with an initial block reward of 440 KAS. The block reward will undergo a smooth, incremental reduction, with a monthly decrease by a factor of (1/2)^(1/12), effectively halving every year. This unique mechanism ensures that the ratio of block rewards between consecutive months mirrors the ratio of frequencies between two consecutive semitones in a tempered chromatic scale. The initial block reward is calibrated to the frequency of the note A4, with each averaged year henceforth referred to as an octave.
It is essential to note that the policy governs the coin minting rate per second, independent of the block rate. In the event that Kaspa decides to modify the block rate in the future, the reward will be proportionally adjusted to ensure the maintenance of a consistent emission rate.
The Circulating Supply of Kaspa (KAS) Coins: An Overview
As of June 2022, the circulating supply of KAS stands at approximately 8.5 billion units.
The Security Paradigm of the Kaspa Network
The Kaspa network is fortified by a robust security framework, wherein miners employ the Proof of Work consensus mechanism, leveraging the k-Heavyhash algorithm to ensure the integrity of the network.
Notably, Heavyhash was selected to ensure seamless forward-compatibility with the forthcoming Photonic miners, thereby future-proofing our infrastructure.
Where to Acquire Kaspa (KAS): A Comprehensive Guide
As of this writing, Kaspa is listed on prominent exchanges, including CoinEx, MEXC, TxBit, and TradeOgre, thereby ensuring accessibility to a broad user base.
Associated Resources:
Delve into the world of Bitcoin, a pioneering cryptocurrency that employs a proof-of-work consensus mechanism to secure its decentralized network.
Delve deeper into the art of deciphering a White Paper.
Delve into the intricacies of Directed Acyclic Graph (DAG) technology by exploring the CMC Glossary page, your comprehensive resource for in-depth explanations.
Stay up-to-date with real-time Kaspa price movements by downloading the CoinMarketCap mobile app!
Seeking to convert the current Kaspa price to your preferred fiat currency? Look no further than CoinMarketCap’s exchange rate calculator, your one-stop solution.