Kaspa – KAS
There is another Layer 1 coming for Bitcoin’s title. No, It’s not Ethereum.
It’s Kaspa. So let me share my hours of research in a few simple tweets with you!
This is a Project Review on KAS.
Kaspa first launched in the peak of the 2021 bull run. Since then, it has grown tremendously, but what is it?
Well, Kaspa is a Layer 1 that runs on the Proof-of-Work consensus mechanism but there is a twist…
The Kaspa network is actually not your standard blockchain. They also implemented the GHOSTDAG protocol into its consensus mechanism, thereby making the network a hybrid between blockchain and DAG technology. This makes Kaspa a blockDAG network.
It’s important to understand what the blockDAG is, as it is what makes Kaspa completely unique and they are the only network utilising this game-changing technology. Well, usually blocks on the blockchain are created in a linear structure.
This is where the implementation of the GHOSTDAG protocol comes in, which simply creates a new structure where blocks can coexist in a non-linear form and orders them in consensus. You’re probably asking, why do they still use the PoW consensus mechanism?
Long story short, Kaspa believes that Satoshi Nakomoto’s infamous is still essential. It’s been battle-tested to the max. Without too much detail, Kaspa uses a specific PoW algorithm called the kHeavyHash which reduces scalability and environmental concerns.
Simply because it cracks Crypto’s three ultimate barriers to global adoption; Decentralisation, Scalability and Security.
Kaspa has been purposely constructed to enable fast transactions with instant confirmation that takes up to 10 seconds, provide top-tier security similar to Bitcoin and to ultimately scale its network beyond its competitors.
After exploring the whitepaper, I can see Kaspa’s vision as clear as day. It is in line with Satoshi Nakomoto’s vision, but just an upgraded version. Kaspa is planning to dominate the space with a network that operates as fast as the internet can possibly go…
One big factor that puts Kaspa ahead of Bitcoin is that it can be used for both a store of value and to power #DeFi applications as they have another layer on the network which allows for the integration of smart contracts, which Bitcoin is unable to accomplish.
At the time of writing, the $KAS coin is priced at $0.03 with a market cap of $662M+! Kaspa has been on the rise since its inception and it looks like $KAS didn’t even experience the bear market. $KAS is only down 21.1% from its ATH of $0.042.
Twitter – @KaspaCurrency
Website – https://kaspa.org/
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