Kaspa is the fastest and most scalable instant confirmation transaction layer ever built on a proof-of-work engine. Transactions sent to miners can be included immediately in the ledger, which is structured as a revolutionary blockDAG. Kaspa is based on the GhostDAG/PHANTOM protocol, a scalable generalization of the Nakamoto Consensus (Bitcoin consensus). Its design is faithful to the principles Satoshi embedded into Bitcoin — proof-of-work mining, UTXO-formed isolated state, deflationary monetary policy, no premine, and no central governance. Kaspa is unique in its ability to support high block rates while maintaining the level of security offered by the most secure proof-of-work environments. Kaspa’s current mainnet operates with one block per second. After the ongoing rust language rewrite, the core developers goal is to increase the number of blocks per second substantially, attracting the development of smart contracts and DeFi.
SOLVING THE TRILEMMA
Traditional cryptocurrencies suffer from a security-scalability-decentralization tradeoff: decentralized cryptocurrencies must limit their block creation rate in order to limit “orphans”, off-chain blocks created during the time it takes for a latent block to be propagated across the network. A high orphan rate decreases the effectiveness of the PoW network, thus decreasing its defense against attacks from malicious actors joining the open network. To solve this tradeoff, Kaspa’s consensus layer uses GhostDAG, a proof-of-work consensus protocol that generalizes Nakamoto’s chain into a directed acyclic graph of blocks ( blockDAG). GhostDAG incorporates”orphan” blocks into the chain to form a blockDAG, and then uses a novel greedy algorithm to order the blocks such that well-connected, honest blocks are favored, quickly and with high probability. GhostDAG allows Kaspa to circumvent the traditional tradeoff of blockchains, improving on block rate by orders of magnitude while maintaining the theoretical security guarantees of Bitcoin.
This results in a cryptocurrency that is supported by 51% security, has a high number of miners / nodes, and has throughput on the order of one block per second. This is unlike existing cryptocurrencies, which inevitably trade off on having small numbers of validator nodes or lower BFT security (33% threshold needed for malicious actors to attack the network).
Traditional cryptocurrencies’ slow block rates indicate slow confirmations, i.e., the time it takes for a transaction to be published on the blockchain. Kaspa’s consensus layer supports fast, subsecond confirmations— a fast first confirmation, which enables use cases that need immediate proof of publication (but not immediate irreversibility), such as e-commerce.
Traditional cryptocurrencies’ slow block rate also indicates low transaction throughput. Using GhostDAG, Kaspa’s consensus layer removes security as a bottleneck for high throughput, allowing block rate and block size increase up to what the network can handle. Kaspa also optimizes bandwidth cost and network infrastructure for high throughput.
Traditional cryptocurrencies’ slow block rate also indicates high variance of mining income (i.e. irregular mining rewards due to the difficulty of finding a block), incentivizing miners to join larger and larger mining pools—which combine computing power and distribute smaller, more regular mining incomes to participants—as the network grows and the block difficulty increases. This centralizes the consensus power into the hands of a few pool managers. Kaspa’s consensus layer’s fast block rate decreases the variance of mining income – which decreases the incentive to join mining pools – contributing to mining decentralization.
Articles & News
Kaspa AMA Recap with Kyle Krason
Shai Deshe hangs out to talk Kaspa, the tech & goals of the project Shai Deshe & Kaspa AMA host Kyle Krason speaks with Kaspa researcher Shai Deshe about the Kaspa project, the GHOSTDAG paper, and his research in cryptography. Shai Deshe is a quantum &...
Kaspa Exchange Crowdfund Update: Listing on Gate.io — NOW LIVE
Gateway To Crypto Gate.io Now Live Kaspa has successfully concluded its community crowdfund campaign with the completion of the Gate Startup and Gate.io’s official listing. As of 03/21/23 at 10AM UTC, the KAS listing is now live with a KAS/USDT trading pair. Crowdfund...
New Community Marketing Fund
THE CROWDFUND A crowdfund pool has been created for the creative content, management and Community Marketing Fund(CMF), laid out by the avid community contributor @Rhubarbarian, according to this vote:...
Kaspa Pool Addition — Midaspool
Crypto mining with a golden touch. Midaspool Midaspool has launched a PPLNS mining pool for Kaspa. Midaspool has support for four blockchains planned with Kaspa as its first pool. Reasons to mine Kaspa on the Midaspool PPLNS (Pay-Per-Last-N-Shares) Scheme — Midaspool...
Kaspa Pool Addition — MagicPool
The magical experience of crypto mining with MagicPool MagicPool MagicPool has launched a PPLNS mining pool for Kaspa with region locations in US West, DE Germany, and global. MagicPool supports five blockchains for GPU mining and will be integrated into Awesome Miner...
Kaspa Listed on DigiFinex
Global Cryptocurrency Exchange DigiFinex is offering 50% Off on their subscription service and Launch and Trade Airdrop: Mar 16–18, 2023 4:00 (UTC) Launchpad details: https://support.digifinex.com/hc/en-us/articles/16345804464665...
Integration of Kaspa BlockDAG Guide
An overview of resources and processes to integrate the Kaspa BlockDAG. Integration Guide The Integration of Kaspa BlockDAG is a comprehensive guide of slides designed to help developers, exchanges, and DeFi projects integrate with Kaspa’s blockchain technology. Kaspa...
Kaspa on Chainge Finance — Wallet and DeFi
Embrace the unstoppable revolution and become your own bank. Time for some Chainge? Chainge Finance, a unified non-custodial wallet and DeFi app, provides Kaspa users numerous benefits for storing and managing their KAS coins. With its various features and...
Kaspa Twitter Space — Oana Batran CBO of Chainge Finance
Wednesday, March 15th, 12:00 PM EST — Hosted by @BubblegumLtng Kaspa Twitter Space with Chainge Finance Host: Bubblegum Lightning/@BubblegumLtng and co-host: Wolfie/@Kaspa_HypeMan are set to hold a Kaspa Twitter Space on March 15th, 2023, at 12 PM EST with special...
Kaspa Solo Mining Tutorial by AvogHadro
A tutorial on how to solo mine on Windows. Solo Mine Your Node Solo mining is a great way to improve the Kaspa network’s decentralization while earning rewards, avoiding pool fees, and bypassing third parties. By solo mining, you have complete control over your mining...
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The wallet is managed by 4 members of the community (msutton, Tim, The SheepCat and demisrael) who were publicly voted in to become the Treasurers.