What is Kaspa?
Kaspa is a decentralized finance (DeFi) platform describing itself as “the fastest, open-source, decentralized, and fully scalable Layer-1 in the world." The platform was designed to solve the trilemma, which is a common problem with most cryptocurrency projects. Kaspa is powered by the native token KAS. You can view the current KAS price on the live Kaspa price chart above.
Traditional cryptocurrencies struggle to balance decentralization, security, and scalability. As a result, they are forced to choose between the three options. Decentralized crypto must limit off-chain blocks created during the time it takes for a latent block to be propagated across the network. These blocks are known as orphans. A high orphan rate often decreases the effectiveness of a Proof-of-Work (PoW) network, thereby decreasing its defense against attack by bad actors joining the open network.
Kaspa's consensus layer aims to solve this problem using a special PoW consensus protocol called GhostDAG. The protocol can identify and favor honest orphan blocks on the chain, as well as protect the chain from malicious orphan blocks. Besides, the Kaspas crypto project implements Bitcoin-standard security.
Kaspar's key features include fast confirmations, high transaction throughputs, and mining decentralization.
Use Cases of KAS Tokens
KAS is a utility token powering the Kaspa ecosystem. The token supports the mining feature that secures the network. Users receive mining rewards in KAS crypto assers for confirming transactions. Users can also trade KAS on supported exchanges. However, the KAS price often varies, just as with other volatile crypto assets. Thus, you should research the token price before purchasing the asset for trading. The live chart above provides the up-to-date Kaspa price.
Who Founded Kaspa?
Kaspa was founded by Yonatan Sompolinsky who is a Postdoc CS at Havard University and a member of the MEV research team. The initiative was conceptualized by the R&D company DAGLabs with funding from PolyChain. Even yet, Kaspas is a community project because it is totally open source, without any sort of centralized administration, and has no revenue stream.
The project’s core developers and contributors include Shai Wyborski, Michael Sutton, Mike Zak, Elichai Turkel, and Ori Newman. Shai is a cryptography Doctoral student. Michael Sutton is a Master's student of computer science. Mike Zak is a Computer Science undergraduate. Elichai Turkel is a Cryptography researcher, and Ori Newman is a Developer. All these team members contributed to the implementation and stabilization of the network.
Tokenomics of KAS
Kaspa architecture has rapid block rates, which allow more mining decentralization. The network enables effective solo mining even at lower hashrates. It had a fair launch without pre-mining or any other pre-allocation of coins.
The token has a maximum supply of 28.7 billion KAS. Kaspa crypto emission schedule is halved annually through a smooth monthly reduction mechanism. Halving and fixed supply hedge against undesirable inflation that may affect KAS price.