$0.0362

Kaspa is a Layer-1 cryptocurrency that prioritizes speed and scalability, built on proof-of-work (PoW) and utilizing the GHOSTDAG protocol. This protocol, an extension of Nakamoto consensus, permits parallel blocks to be created and ordered in a Directed Acyclic Graph (blockDAG), enabling high throughput without compromising decentralization or security. Currently, it processes 10 blocks per second, with aspirations to reach 100 blocks per second, making confirmation times nearly instantaneous. The Crescendo upgrade facilitated this increased block rate. Kaspa aims to deliver a PoW system that operates at internet speed, suitable for modern applications. Its full node is designed to run on standard computers, ensuring accessibility and decentralization.

Dr. Yonatan Sompolinsky, a researcher at Harvard University, is the originator of Kaspa, building on his earlier work with Prof. Aviv Zohar on scalable proof-of-work protocols. The project was initially developed by DAGLabs, a company founded by Sompolinsky and funded by Polychain Capital, where Elichai Turkel, a Bitcoin Core contributor, served as applied cryptographer. DAGLabs was dissolved around the time of Kaspa's fair launch in November 2021, transitioning to a decentralized, community-driven model. Development is now carried out by a global group of contributors, with no central governance or business entity overseeing the project.

Kaspa stands out for its ability to maintain high block rates while preserving proof-of-work security. The mainnet currently operates at one block per second, but developers aim to push this to 10 or even 100 blocks per second in the future. Additionally, Kaspa features a distinctive monetary policy that reduces emissions geometrically over time, following the 12-note musical scale. This 'chromatic phase' began on May 7, 2022, with an initial block reward of 440 KAS. The reward decreases by a factor of (1/2)^(1/12) each month, resulting in a halving every year, similar to the frequency ratio between semitones. This policy ensures a predictable emission rate regardless of future changes in block speed.

As of November 2024, there are approximately 25.1 billion KAS coins in circulation.

The Kaspa network is secured by miners using a proof-of-work consensus mechanism with an algorithm called k-Heavyhash. This algorithm was selected for its compatibility with future Photonic miners, ensuring the network remains secure as mining technology evolves.

Kaspa (KAS) can be purchased on several cryptocurrency exchanges, including Kraken, Bybit, Gate.io, and MEXC, among others. Coinasity lists the exchanges where KAS trades.