{"id":572387,"date":"2024-02-04T19:00:52","date_gmt":"2024-02-04T19:00:52","guid":{"rendered":"https:\/\/wncen.com\/?p=572387"},"modified":"2024-02-05T12:43:34","modified_gmt":"2024-02-05T12:43:34","slug":"what-is-kaspa-kas-blockchain","status":"publish","type":"post","link":"https:\/\/wncen.com\/kaspa\/what-is-kaspa-kas-blockchain\/","title":{"rendered":"What Is Kaspa (KAS)?"},"content":{"rendered":"
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The Kaspa (KAS) blockchain<\/span><\/a> is a decentralized, open-source, and scalable Layer-1 solution often referred to as “Bitcoin 2.0” or “the next Bitcoin.” However, Kaspa is unique in its own way despite functioning very similarly to Bitcoin. Just like Bitcoin, Kaspa is a <\/span>proof of work (PoW)<\/span><\/a> cryptocurrency, but unlike other traditional blockchains, Kaspa implemented the <\/span>GHOSTDAG protocol<\/span><\/a>.<\/span><\/p>\n This protocol is unique in the fact that it does not have orphan blocks created in parallel. Rather, it allows them to coexist and orders them in consensus. This makes Kaspa the first of its kind to do this, with the <\/span>blockDAG<\/span><\/a> (Block Directed Acyclic Graph) protocol being a generalization of Nakamoto\u2019s consensus.<\/span><\/p>\n The founder of Kaspa is Yonatan Sompolinsky, a Ph.D. in Computer Science at Havard University and a member of the Maximal extractable value (MEV) research team. He was also in Ethereum’s whitepaper and rumored to be in Ripple’s whitepaper as well.<\/span><\/p>\n Sompolinsky had direct input in creating <\/span>Ethereum’s<\/span><\/a> technology design, having designed the GHOSTDAG protocol earlier. Interestingly, the founder’s 2013 paper on the GHOSTDAG protocol is cited in Ethereum’s whitepaper.<\/span><\/p>\n The development team is made up of very talented individuals such as Cryptography Researcher Elichai Turkel, Doctoral student Shai Wyborski, Developer Ori Newman, Master of Computer Science Michael Sutton, and Developer Mike Zak. They have all contributed to the implementation and ongoing development of the Kaspa blockchain network.<\/span><\/p>\n <\/p>\n At the very base of its technology, Kaspa is very similar to the Bitcoin network in the way it\u2019s structured. Some of these similarities are outlined below:<\/span><\/p>\n Related Reading: What Are The Top 8 DeFi And Web3 Wallets To Use In Crypto?<\/a><\/p>\n<\/div>\n<\/li>\n One major difference between both networks is that Kaspa solves the issue of scalability that continues to plague Bitcoin. This means that while both networks use a proof of work mechanism, Kaspa is able to carry out transactions at a faster rate as well as cheaper fees.<\/span><\/p>\n The <\/span>Blockchain Trilemma<\/span><\/a> refers to the three critical aspects of blockchain technology, which are security, scalability, and decentralization. This trilemma continues to plague leading blockchains such as Bitcoin and Ethereum, and they continue to battle these issues. This is because, in order to ensure security and decentralization, something had to give, and in both cases, it was scalability.<\/span><\/p>\n However, Kaspa, on the other hand, is one of the few blockchains to solve the blockchain trilemma, as it is decentralized, scalable, and secured. It solves the blockchain trilemma issues through its integration of proof of work (PoW) and the <\/span>blockDAG<\/span><\/a> structure.<\/span><\/p>\n <\/p>\n Most <\/span>blockchains<\/span><\/a> that digitally process transactions do so in the form of blocks, hence the name blockchain. Kaspa, however, deviates from this because it does not store digital transactions in blocks. Instead, it does so using a complex mathematical structure called a DAG (Directed Acyclic Graph).\u00a0<\/span><\/p>\n In a <\/span>DAG<\/span><\/a> (Directed Acyclic Graph), vertices are present instead of blocks. So, instead of referring to different units as forming blocks, each different vertice forms edges when connected to each other. The blockchain then relies on present transactions to validate and confirm transactions that come after it.\u00a0<\/span><\/p>\n Kaspa does not discard previous blocks of information; therefore, it is more secure and scalable. Its mining relies on kHeavyHash, which is a form of optical mining algorithm that is energy efficient and works well with mining equipment such as FPGAs and GPUs.<\/span><\/p>\n Efficient Proof of Wook:<\/b> Kaspa is a one-of-a-kind blockchain that has managed to maintain its Proof of Work mechanism while also solving the blockchain trilemma. To put this in perspective, blockchains such as Ethereum have had to move from Proof of Work (PoW) to Proof of Stake (PoS) in an effort to solve their scalability issues and make them faster.\u00a0<\/span><\/p>\n However, since Kaspa already solved the blockchain trilemma, this makes it highly scalable while maintaining a truly decentralized system. Its utilization of the optical-mining-ready kHeavyHash algorithm also helps to ensure the consensus and security of the network.<\/span><\/p>\n Instant Transaction Confirmation:<\/b> Kaspa was designed to be cheaper and faster than Bitcoin, where full confirmation of a transaction takes an average of 10 seconds, with each transaction visible to the network in one second. This is significant when compared to Bitcoin, which takes an average of 10 minutes to confirm a transaction.<\/span><\/p>\n Security:<\/b> When it comes to security, Kaspa did not just employ the same security principles and methodology as Bitcoin, it took it a step further as it replaced the SHA-256 PoW encryption with kHeavyHash, while inheriting all the security properties of SHA-256. Thus, its network is still secured by a robust network of decentralized volunteers (miners) who validate and sign transactions just like Bitcoin.<\/span><\/p>\n Cheaper Fees:<\/b> Not only does the Kaspa Blockchain network confirm transactions fast, but it is also significantly cheaper than Bitcoin. This is because the blockDAG network generates multiple blocks every second for posting transactions to the ledger, whereas Bitcoin generates one block every 10 minutes. Transaction fees on Kaspa cost less than a cent, while transaction fees on Bitcoin cost<\/a> an average of $4 at the time of this publication.<\/span><\/p>\n Scalability:<\/b> Kaspa solves scalability issues with its blockDAG network’s ability to generate and confirm multiple blocks per second, as mentioned above. But perhaps the most interesting part of what Kaspa does is that it is able to confirm so many blocks (vertices) per second without altering or giving up its decentralized nature.<\/span><\/p>\n KAS coin is the native token of the Kaspa blockchain, whose main objective is to power the whole network. It is used to pay for transaction fees and other forms of developer’s fees, and it is also used as an incentive to reward miners. Its block rates are rapid and promise swift rewards, as well as offering profitable mining with lower hash rate requirements compared to Bitcoin.<\/span><\/p>\n Kaspa\u2019s native cryptocurrency, KAS, has a maximum or total supply of 28.7 billion coins that are not pre-mined. This means all of the tokens in circulation have been free-mined by miners on the blockchain. It has a circulating supply of 22.5 billion at the time of publication, and estimates are that with the current halving model, the last KAS coin will be mined in 2037.\u00a0<\/span><\/p>\n The Kaspa network utilizes an open crowdfunding and voting governance model, which means that KAS holders can contribute to the network for development, marketing initiatives, education, etc.\u00a0<\/span><\/p>\n This sense of shared responsibility and ownership motivates the community to come together and work toward collective goals.\u00a0<\/span><\/p>\n <\/p>\n Kaspa launched its mainnet along with its token two years ago, on November 7, 2021. Initially, the price of its native token, KAS, remained stagnant until July 2022, when it pumped from $0.0001840 to $0.0005890. It then traded sideways for months before going on another rally, triggering a 694% increase in price.<\/span><\/p>\nThe Founder And The Team Behind The Kaspa (KAS) Network<\/b><\/h2>\n
Differences And Similarities Between Kaspa (KAS) And Bitcoin (BTC)<\/b><\/h2>\n
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\n<\/span><\/span><\/p>\nHow Does Kaspa The Blockchain Solve Trilemma Issues?<\/b><\/h2>\n
Image <\/span><\/i>source<\/span><\/i><\/a><\/pre>\n
How Does The Kaspa GhostDAG Protocol Work?<\/b><\/h2>\n
Prominent Features Of Kaspa (KAS)<\/b><\/h2>\n
What Is KAS Coin And What Are Its Uses?<\/b><\/h2>\n
The Tokenomics of Kaspa (KAS)<\/b><\/h3>\n
KAS Price History And Progress<\/b><\/h3>\n