Kaspa (KAS) Price & Overview: Fast, Scalable, and Energy-Efficient Crypto

Kaspa stands out for its audacious claims and reliable performance, making it one of the most technically ambitious cryptocurrency initiatives. Although many networks prioritise either increased scalability or speedier transactions, Kaspa tackles these issues with a protocol that can manage both without sacrificing either. Its foundation is GHOSTDAG, a technology that enables the production of blocks in parallel. Kaspa enables the creation and confirmation of multiple blocks simultaneously, unlike standard blockchains, which add blocks in a linear order. While maintaining the security and decentralisation that one would expect from a proof-of-work system, this method significantly enhances transaction speed and scalability.

Aside from its technical advantage, Kaspa is establishing itself as a platform for reliable tools, low-cost transactions, and high-throughput applications.

In this article, we'll delve into the details of how Kaspa works, its unique approach, and more.

About Kaspa

Kaspa (KAS) is a cryptocurrency that uses the GHOSTDAG system and utilises proof-of-work (PoW).  GHOSTDAG permits parallel blocks to coexist and arranges them in a consensual manner, as contrasted to typical blockchains, which orphan blocks.  Because of this, Kaspa is a blockDAG, which is a generalisation of Nakamoto consensus.  With low confirmation times and high block rates, this novel method seeks to function reliably.  To facilitate the adoption of layer two alternatives, Kaspa's implementation incorporates features such as future subnetwork support, block data pruning, reachability to query the DAG's topology, and SPV proofs. 

History of Kaspa

R&D firm DAGLabs, with assistance from PolyChain, conceived Kaspa.  However, Kaspa is an open-source community project without a business plan or institutional governance.  Harvard University Postdoctoral Fellow CS Yonatan Sompolinsky, a member of the MEV Research Team, is the founder.  Yonatan's Ghost protocol paper from 2013 is referenced in the Ethereum Whitepaper.  Key contributors and developers of Kaspa include CS Master Michael Sutton, Mike Zak, CS Undergrad Studies, Elichai Turkel, a researcher in cryptography, Shai Wyborski, a doctoral student in cryptography, and developer Ori Newman.  These individuals have made substantial contributions to the network's establishment and its growth. 

How Kaspa Work

Kaspa employs the k-Heavyhash algorithm and a proof-of-work consensus mechanism.  The forward compatibility of this algorithm with photonic miners led to its selection.  Kaspa's special monetary strategy reduces emissions geometrically over time, based on the chromatic phase, or 12-note musical scale.  Regardless of the block rate, this policy determines the number of coins produced per second.  The reward will be modified to maintain the same emission rate if Kaspa modifies the block rate in the future.  To preserve the network's integrity, miners use Proof of Work to protect Kaspa's network. 

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How is Kaspa different from others?

Kaspa and conventional blockchains vary most obviously in their usage of the proof-of-work consensus protocol GHOSTDAG. GHOSTDAG permits the coexistence of parallel blocks and arranges them in consensus rather than orphaning them.

Please take a look at their real-time block DAG visualizer to understand how it works.

Kaspa is also able to increase block speeds while preserving the "security guarantees of Bitcoin," avoiding the "traditional security-scalability-decentralization tradeoff" of blockchains.

Kaspa takes pride in being a community project; KAS was disseminated through a fair launch, and the project's promotional materials uphold the idea that Kaspa is entirely sponsored and regulated by the community. 

Some Advantage of Kaspa

Scalability Without Giving Up Anything

Kaspa enables quick, safe, and decentralised expansion, hence resolving the blockchain scalability dilemma. Multiple blocks can be confirmed simultaneously thanks to its GhostDAG technology, which can handle large transaction volumes without experiencing any lag. Kaspa can grow without sacrificing security or decentralisation, unlike traditional blockchain networks. Because all three components are maintained in balance, the network is effective and prepared for the future.

Quick and Economical Transactions

Transactions are confirmed nearly instantaneously thanks to Kaspa's quick block times. Transaction fees are kept low by this speedy processing, which also reduces congestion. Users benefit from fast and inexpensive transactions, which are ideal for time-sensitive applications, enterprises, and everyday use.

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Sustainable and Effective

Compared to previous proof-of-work blockchains, Kaspa consumes less energy. By increasing mining efficiency, GhostDAG reduces its adverse environmental and energy consumption effects. Due to its energy-efficient design, Kaspa is a more environmentally friendly option in the modern world.

Fair Mining for All

Kaspa's approach is designed to be equitable.  It keeps big miners from unfairly benefiting.  Small miners have a genuine opportunity to make money thanks to GPU support, rapid block times, and a two-phase payout mechanism.  Over time, the network is supported and supply is managed with the aid of the progressive reward decrease.  This keeps mining accessible to everyone while fostering long-term sustainability. 

Some Recent Trend of Kaspa

The current price of one KAS is ₹6.74. The price is down -12% from its level a week earlier, at ₹7.63, and -4% from Kaspa's 24-hour mark of ₹7.03. The price of Kaspa hit its highest point ever on August 1, 2024, at ₹18.40. The difference between this and the current figure is -63%.

The current circulating supply of Kaspa is 26,737,115,183, which represents 100% of its entire supply and 93% of its maximum supply of 28,704,026,601 KAS. Currently, the market cap is ₹180.31B, calculated as the product of Kaspa's price (₹6.74) and its total supply (26,737,115,183 KAS). Kaspa's fully diluted market value is ₹193.58 billion. When fully diluted, the value of Kaspa is ₹ 193.58 billion.

Kaspa dominates 0%, meaning it holds that proportion of the total cryptocurrency market capitalisation. With a 7-day total of ₹27.652 billion and an average of ₹3.95 billion per day, the 24-hour trading volume is ₹3.806 billion, a decline of ₹144.295 million over the previous 24 hours. The trading volume increased by ₹531.301 million over the last 24 hours to ₹98.239 billion during the past month, with a daily average of ₹ 3.275 billion. 

Conclusion

Kaspa demonstrates that proof-of-work remains a robust and rapidly evolving blockchain solution in a rapidly changing blockchain landscape. While newer chains, such as Solana or Avalanche, which use different consensus models, Kaspa sticks with simplicity and security with its advanced GhostDAG protocol. It allows the network to handle multiple blocks simultaneously, making transactions faster without compromising decentralisation.