About KASPA

Kaspa is the fastest and most scalable Level 1, 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 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 proof-of-work environments. Kaspa’s current mainnet operates with 1 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 security guarantees of Bitcoin.

This results in a cryptocurrency that is supported by 51% security, has a high number of mining validator 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 for malicious actors).

Fast Confirmations

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—importantly, a fast first confirmation, which enables use cases that need immediate proof of publication (but not immediate irreversibility), such as e-commerce.

High Throughput

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.

Mining Decentralization

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 Trading schedule on MEXC Released!

We are pleased to announce that the Kaspa implementation to be listed on MEXC Global has been completed.  Kaspa trading will begin on 9/27/22 at 15:00 UTC at https://www.mexc.com, the Kaspa community can sign up for MEXC by utilizing our affiliate link which gives...

Core Developer Series: Kaspa 101 – Part 1

The block-DAG paradigm By: Michael Sutton, Core Developer This is a blog series explaining the fundamentals of Kaspa in simple and short language. I will assume the least possible prior knowledge, although some fundamentals in blockchain theory, specifically bitcoin,...

Top-Tier Exchange Community Fundraising Complete!

We are pleased to announce that Kaspa has yet again successfully completed a community funding proposal to be listed on a soon-to-be named top-tier exchange. A funding pool of $50K in USDT was established on August 23rd, 2022 and was advertised on Kaspa's discord and...

Getting up to Speed on Kaspa

Looking Back   Where to even start!  So much has happened in the Kaspa project since the launch of the main-net in early November 2021.  We are steadily building a vibrant and strong community as investors, developers and people, from around the globe, are...

Kaspa on RUST

Starting in July, the Kaspa development team, led by Michael Sutton, has undertaken an effort to rewrite Kaspad in Rust. This codebase rewrite will allow Kaspa to be in a "Space Code" system and reach maximal BPS and TPS through a high-performance well-designed...

Kaspa — What are We Actually Doing Here?

Shai (Deshe) Wyborski (if you are unfamiliar with Kaspa you are still welcome to read the post, or you can first check out our website and Discord server) It is astonishing to see how fast the Kaspa community is growing. But as Kaspa gains more traction and...

Kaspa launch plan (responding to reality) – Pt-2

First and foremost I wanted to thank you all for joining and forming this community, for the interest, excitement, and involvement around the project. Seeing my PhD obsession — POW DAG consensus — realize itself into a live network and a spontaneous community is...

Kaspa launch plan (proposal) Pt-1

Yonatan Sompolinsky launch Kaspa in gamenet mode, a research oriented experimental network inject deliberate fragility into Kaspa launch via random semi-scarce monetary policy construct battlefield for reward-based and MEV-based reorgs as community matures and...

Join & Follow the COmmunity

We are a growing community and always looking for energetic people to join the project.  If you are a coder, marketer, vlogger, community manager or other, join Discord and say, “hi!”

PUBLIC DONATIONS ARE WELCOME!

Manual donations dev-fund-address: kaspa:precqv0krj3r6uyyfa36ga7s0u9jct0v4wg8ctsfde2gkrsgwgw8jgxfzfc98
http://katnip.kaspad.net/addr/kaspa:precqv0krj3r6uyyfa36ga7s0u9jct0v4wg8ctsfde2gkrsgwgw8jgxfzfc98

Mining dev-fund-address: kaspa:pzhh76qc82wzduvsrd9xh4zde9qhp0xc8rl7qu2mvl2e42uvdqt75zrcgpm00

http://katnip.kaspad.net/addr/kaspa:pzhh76qc82wzduvsrd9xh4zde9qhp0xc8rl7qu2mvl2e42uvdqt75zrcgpm00

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.

The is a multi-signature wallet with a 2/4 signing formula, so it needs at least 2 of the Treasurers to sign the spending transaction for it to become commutable. All spendings are published in the #devfund channel and are performed according to the results of public votes in either #funding-pools or #votes channels