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
Weekly Crypto Update Featuring Shai (Deshe) Wyborski
Dr. Martin Hiesboeck of Uphold speaks with Kaspa core researcher, Shai Wyborski. Kaspa History and Innovation On May 4th at 1:00 PM EST, Dr. Martin Hiesboeck, @MHiesboeck, from Uphold, hosted a Weekly Crypto Update with guest Shai Wyborski, @DesheShai, a Kaspa core...
Kaspa on Rust: Alpha Update
First Stability Improvements Cycle and Upcoming Developments Kaspa on Rust Kaspa developers have been actively working on improvements to its Rust implementation. In a series of tweets, Michael Sutton provided insights into the progress made and future plans of...
Kaspa Workshop: GHOSTDAG 101
Shai (Deshe) Wyborski provided an in-depth look into Kaspa’s consensus layer, GHOSTDAG. GHOSTDAG 101 In an in-depth workshop hosted on the Kaspa Discord, Shai (Deshe) Wyborski explored the inner workings of GHOSTDAG, the consensus layer driving Kaspa. The session...
LBank Twitter Space with Kaspa Guest Bubblegum Lightning
Held on April 27th— Hosted by LBank Putting the Currency Back Into Crypto Kaspa guest speaker Bubblegum Lightning and host Muha from LBank discussed the latest developments and aspirations of the Kaspa network. Highlighting the successful transition of the platform’s...
Kaspa Community Developer Crowdfund
The Kaspa community is raising funds to thank two dedicated Developers, @lAmeR^ and @jwj. The Community Developers The Kaspa community prides itself on its members’ dedication and collaborative spirit. Two developers from the Kaspa Discord, @lAmeR^, and @jwj, have...
Kaspa’s Grassroots and Organic Marketing
Kaspa’s unique marketing strategies prioritize community engagement and valuable content. Certified Organic Grass-Fed Kaspa Kaspa has attracted attention and curiosity with its unique approach to marketing. Fostering a loyal and engaged community by employing...
Translating Kaspium for Worldwide Accessibility
Help translate Kaspium and bridge the language gap for global adoption. Uniting Through Kaspa Kaspa is swiftly making strides in the global crypto and financial sector. However, to fully realize its potential and ensure accessibility for people worldwide, it’s...
The Process of Listing Kaspa on Crypto Exchanges
The steps and insights for listing Kaspa on crypto exchanges. The Process of Listing Kaspa Kaspa has been gaining popularity among investors and enthusiasts alike. This new popularity makes users eager to maximize Kaspa’s potential and reach a broader audience....
Kaspa New Exchange Listing — LBank
Experience the Best in Cryptocurrency. LBank and Twitter Space LBank, a well-known global cryptocurrency exchange, is set to list Kaspa on its platform on April 25th at 11 am UTC. This collaboration will offer traders and investors a fresh opportunity to access and...
Kaspa New Exchange Listing — Uphold
A global multi-asset digital trading platform. Uphold Uphold, a prominent multi-asset trading platform that integrates the functionalities of a cryptocurrency exchange, forex trading application, and online brokerage, announced that on April 27th, 2023, Kaspa will be...
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