What is Kaspa?

158 – The Kaspa cryptocurrency (KAS) is one of the rising stars of the cryptocurrency market. Since its release in June 2022, its price has risen more than 7,000%, reaching a market capitalization of more than USD $2.8 billion in just over a year.

Thank you for reading this post, don’t forget to subscribe!

Kaspa is a proof-of-work (PoW) cryptocurrency that implements the GHOSTDAG protocol, which, unlike traditional blockchains, does not have orphan blocks created in parallel, but allows them to coexist and order them by consensus. The protocol works as follows: Miners generate blocks and send them to the network, where nodes receive them and add them to a DAG; those nodes in the network vote for the blocks they believe to be valid and are subsequently added to the main blockchain.

The implementation of this protocol allows Kaspa to process transactions faster and more efficiently than traditional blockchains, making this a highly efficient and scalable project.

Kaspa currently has the capacity to generate and order one new block per second, although the main goal is based on generating up to 100 blocks per second. The project aims to become one of the main blockchain networks, so it is an ambitious project for the medium term.

Why has Kaspa gone up so much?

One of the main reasons is the growing popularity of blockchain technology, due to its innovative protocol trust towards the project has steadily grown. With this type of technology being used for a wide range of applications, from payment for goods and services to identity management; as blockchain technology becomes more popular, the demand for cryptocurrencies such as Kaspa also increases.

Currently its main market for exposure has been KuCoin and Gate.io, both exchanges have granted Kaspa greater participation in the Peer-To-Peer (P2P) markets due to their confidence in the project and how it can be developed in the long term. In addition, Binance announced that it will soon list Kaspa among its list of cryptocurrencies, which generates great expectation around the token.

It is estimated that when a new crypto is listed on Binance, its growth during the first week is usually around 90%; on the mere news, Kaspa has risen just over 50% in the last week at the time of writing.

A long road ahead

Undoubtedly, Kaspa has been the talk of the town and many people have been interested in the project due to its upward trend during the last few months. However, the project could still be in its early stages, as it still has a long way to go to be able to compete with the big blockchain players.

Undoubtedly, Kaspa has been the talk of the town and many people have been interested in the project due to its upward trend during the last few months. However, the project could still be in its early stages, as it still has a long way to go to be able to compete with the big blockchain players.

In addition, by using the Zero-Knowledge Proofs (ZKP) privacy protocol to protect the privacy of transactions, users can conduct transactions without revealing their identities or the number of transactions.

Kaspa undoubtedly has a very interesting value proposition, which if carried out correctly can have a great impact on society. The main risk is attacks from quantum computers, which can more easily break security encryption, although it is expected that with the growth of the project, the company will allocate resources to enter the sector and cover itself against all possible risks.

Writter: Franco Rubeis