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 realizing the true power and potential of blockDAG and our revolutionary consensus mechanism. We are seeing this play out in a few ways, starting with a rapidly growing community! Our discord is at the time of this post, up to over 6000 members, telegram over 2600, and twitter over 2000 followers.
Our Mods are welcoming new people every single day who are curious to learn more and eager to help the team. The interactions that are playing out really help to validate the necessity for our 100% decentralized, fair-launched, instant confirmation, and fully scalable PoW project. Of particular note, has been the way the community has stepped up to fund various projects via donations, whether it was for exchanges, mining tools, wallets, or kaspad development.
On the mining/network security front, things have really been heating up! This is due in part to the tremendous support we have received from both GPU miner, and mining pool developers. As of today, we are now able to be mined on 4 major mining software platforms, BZminer, SRBminer, and Lolminer as well as a community developed Kaspa Miner.
Miners now have the option to either solo mine to their own nodes, use public nodes, or mine as part of a trusted pool using our rapid one block per second architecture . Currently there are 4 pools available to choose from, Acc-pool, Kaspa-Pool, Hashpool, and WoolyPooly. Due to the ease of mining Kaspa, and the support of these developers, our hash-rate has skyrocketed up to over 38TH. This hash-rate ensures that we have a secure and strong network to confirm transactions and keep our blockDAG safe from any attackers.
From a buying and selling perspective, we also now have 4 exchanges which currently facilitate the trading of Kaspa. Txbit, Exbitron, ViteX and Cryptex24 all have implemented Kaspa trading pairs, and many other exchanges are now starting to take notice of the public’s interest in our project and trading volume. What started out as a coin that was worth ~$0.0002 ($200 per million) around the time of the main-net launch, is now worth over 7x that value, trading at ~ $0.0014 ($1400 per millions). While the project is not defined by the price of the asset, but rather its usage cases, it is encouraging to see the public’s overwhelming interest reflected in the market.
There is no doubt that the technology that makes Kaspa is truly revolutionary. What we have with Kaspa is a technology, architecture, and consensus mechanism that is singularly unique, built by experts in cryptocurrency and computer science who have dedicated their lives to pushing the advancement of digital assets and finance. To match the technological advancements that Kaspa has made, we have also started to invest in our brand, to give the project the “polish” it deserves. This “polish” includes our new logo package, our new website which you are viewing today, and our social media accounts and creative design support.
These new investments in the project are due in large part to people around the globe stepping up to help. We have more volunteers, project advocates, and active community marketers than we could have even imagined at this point. And although we will forever remain decentralized, the organization of the community, BY the community is making the project stronger everyday.
From a development standpoint, we are in the midst of probably the biggest, and most impactful project phase ever to be conducted in the lifetime of Kaspa: The Rust Language Rewrite. Headed by developer Michael Sutton, the code base for Kaspa, which currently is in Golang language, is being rewritten into Rust. The benefits of utilizing rust include safety, easy multi-platform development, higher speeds, quality, and better documentation. While Golang was a great initial coding language for the launch of Kaspa, the rewrite in Rust will allow Kaspa to achieve even more parallel blocks per second (think 32 blocks per second on the lower end, with an upper goal of100 or more BPS). In addition this rewrite will also help Kaspa recruit more high-level community developers. This is all thanks again to the tremendous support of the community that ran a funding pool that generated over 100million in Kaspa donations for the development of this substantial task.
In addition to the marketing developments and rust-rewrite, we also have launched our first ever tentative roadmap for the direction of the project, this roadmap can be seen on our new website and helps to answer questions about the direction the project is heading, and what are the important tasks, steps and milestones to get there. A whitepaper is also planned for the end of 2022/early 2023, this document will seek to give the most detailed and cohesive review of the project’s technology, outlining usage cases and what differentiates Kaspa vs. the other blockchains that currently exist. From a marketing standpoint we hope to continue to grow the community size on all of our platforms, obtain more exchange listings, obtain even more implementation from other mining software and pool developers, and recruit more volunteers into the project as developers, marketers, ambassadors, and advocates.
Kaspa’s launch exceeded everyone’s expectations and the potential for Kaspa’s future growth and development is a continuing source of inspiration for the team and community.