Kaspa is the fastest, open-source, decentralized & fully scalable Layer-1 in the world.
https://kaspa.org/
The world’s first blockDAG – a digital ledger enabling parallel blocks and instant transaction confirmation – built on a robust proof-of-work engine with rapid
single-second block intervals.
Built by industry pioneers, led by the people.
Traditional cryptocurrencies face a tradeoff between security, scalability, and decentralization. Kaspa tackles this using GhostDAG, a protocol that orders blocks efficiently, allowing for high block rates without sacrificing security. This ensures Kaspa’s security, with many miners and a throughput of one block per second.
Kaspa offers fast confirmations, enabling immediate proof of publication for transactions. Its high throughput surpasses traditional cryptocurrencies, and its fast block rate reduces mining income variance, promoting mining decentralization. In summary, Kaspa addresses the limitations of traditional cryptocurrencies, providing a fast, secure, and decentralized solution.
- The Nakamoto Consensus Engine
The Nakamoto Consensus Engine, named after Bitcoin’s creator Satoshi Nakamoto, employs a proof-of-work mechanism and has securely maintained the Bitcoin network for over 14 years. Its security, based on controlling over 50% of the network’s computing power, has contributed to Bitcoin’s trust and adoption. In contrast, newer consensus mechanisms, like proof-of-stake, prioritize speed at the expense of decentralization.
- BlockDAG
Cryptocurrencies like Bitcoin and Ethereum have been slow for everyday transactions, hindering mass adoption. Kaspa addresses this by using a unique “blockDAG” approach, generating multiple blocks per second. This speeds up transaction processing, allowing for almost instant confirmation on the network.
BlockDAG (Directed Acyclic Graph) is a distributed ledger concept aiming to address issues with linear blockchains and Nakamoto consensus. It allows blocks to reference multiple predecessors, incorporating blocks from different branches. Unlike traditional blockchains, no blocks are wasted, leading to more frequent block generation and almost instant confirmations. BlockDAGs, utilizing Kaspa’s GhostDAG consensus mechanism, improve efficiency and scalability.
- Speed
Kaspa’s speed really is something above and beyond. In June 2023, Kaspa achieved a speed of 10 Blocks per second (BPS), which set a new benchmark in cryptocurrency. You can read their blog post about this here. Further testing is expected over the next 6 months before this is implemented in the mainnet, but this is very positive news to make it a huge competitor in the world of BlockDAG.
- Kaspa Mining
Kaspa, launched in November 2021, is the fastest proof-of-work coin, maintaining decentralization. It features the kHeavyHash algorithm, making it energy-efficient and compatible with GPU, FPGAs, and potential future specialized mining equipment. With a fair launch, no pre-mine, and a total supply of 28.7 billion coins, Kaspa’s blockDAG architecture promotes mining decentralization, allowing effective solo-mining even at lower hashrates. The emission schedule involves halving once per year through monthly reductions.
- Kaspa Graph Inspector
Kaspa offer a Graph Inspector website, which helps to visualize the speed in which transactions are being processed in real time. You can access the Visualizer here.
The vision behind this project is to build a Nakamoto-like service that operates as fast as internet speed allows. We wanted to build a system that surpasses the limits of Satoshi’s v1 protocol (aka Nakamoto Consensus) yet adheres to the same principles embedded in Bitcoin. Contrary to Satoshi’s vision, Bitcoin did not become a peer-to-peer electronic cash system. Instead, it is solidifying as the ultimate store of value, or e-gold, and that’s pretty much it from the Bitcoin side. This is not a mild achievement by any measure-it’s one of the most important financial revolutions in human history. Yet it leaves lots of room for improvement (of L1) and/or for choosing different tradeoffs (for L1).
For Kaspa, we look to silver, which presented a different tradeoff vs. gold. In the original Aramaic text (Dahavavs. Kaspa), silver was historically treated as less precious than gold but more circulative, less valuable yet more acceptable as payment. With this prospect we call this project Kaspa, (Aramaic word for “silver” and “money”).
https://kaspa.org/vision/
Yield Reviews Opinion
Kaspa has been gaining huge popularity over the past year. The idea of Kaspa being used as a currency in the true vision of Satoshi’s Bitcoin is very plausible. This is because of it’s unique features, no pre-mine or allocation and incredibly fast speed. There are currently no smart contracts with Kaspa but as with Bitcoin, if this coin becomes the de-facto for crypto payments, this is not currently an important feature of what Kaspa strives to be. With all technologies, developers strive to improve what came before it. In the case of Kaspa and it’s proven development team, this is a serious contender for a top 10 coin. At the time of writing, KASPA is trading at $0.012, with an ATH of $0.1527.
Yield Reviews Listing: https://yield.reviews/directory-yield_review/listing/kaspa/
