Bitcoin Inspired altcoin, Kaspa (KAS), is rising after being listed on two crypto exchange platforms.
Kaspa has raised more than double its usual price after being listed on two prominent crypto exchanges last week.
The rising star in the digital currency platform, KAS, has been listed in the leading crypto platforms, Hotbit and BYDFi.
After the listing was released, the cryptocurrency platform skyrocketed 107% from a seven-day low of $0.344. Since the KAS was listed in Hotbit and BYDFi, the value of the digital currency has recovered and is currently being traded for $0.342.
To achieve high block formation and transaction speeds without compromising safety and decentralization, Kaspa uses BlockDAG, which adapts the GhostDAG/PHANTOM protocol.
Kaspa Claims that to profit, they also allow solo miners or miners who want to work independently rather than rely on mining pools.
Kaspa released its new project version last month, explaining everything one needs to know about the project. According to the crypto platform, it is currently in the development stage, creating several latest hardware wallets.
Want to know more about this rising crypto platform? If so, keep reading with us. We have everything that you need to know about Kaspa (KAS).
What Is Kaspa (KAS)?
Kaspa is a rising cryptocurrency that is considered the fastest and most scalable Level 1 instant validation transaction layer with Proof of Work (PoW) and Proof of Capacity (PoC) consensus techniques.
Kaspa is built on the GHOSTDAG/PHANTOM protocol. Building on this protocol, it is theoretically as secure as Bitcoin since it doesn’t make any additional assumptions. Unlike conventional blockchains, PHANTOM allows parallel blocks to coexist and arranges them in consensus rather than eliminating them.
Kaspa is typically the most basic form of the Bitcoin consensus. Kaspa is based on the community and is open-sourced to achieve complete decentralization.
Kaspa is an instantaneous validation transaction sequencing layer that implies that miners can quickly add transaction requests to the blockchain by enabling non-contemporary state modifications.
Kaspa’s ability to support significant block values while guarding security offered by other PoW environments makes it different from the other crypto platforms.
The protocol can currently handle one block per second, but its creators want to make the platform to a level that reaches 10 or even 100 blocks per second.
How Does Kaspa Work?
With instant transaction confirmation and low transaction rates, users and developers can have a better experience with Kaspa. Kaspa enhances its user experience by shortening the latency of its consensus method.
The peripheral nodes in Kaspa safeguard it from serious front-running and miner extractable value (MEV) risks.
Due to the policies to safeguard it, users no longer have to be concerned about miners and trade bots influencing network activity to benefit from it. Instant block times on Kaspa make it possible to pre-trade privacy and anonymous transactions, preventing users from fraud.
The fact that the duration between blocks is substantially longer than the amount of time the entire chain needs to learn about a new block is what makes the majority of networks secure. The Kaspa GOSTDAG protocol’s motivation is to resolve this security trade-off.
Kaspa uses a directed acyclic graph (DAG), where a block points to numerous blocks instead of just one, as opposed to other crypto projects which use a single chain. The framework of GHOSTDAG is the design that reduces double-spending.
What Does Kaspa Aim To Do In The Crypto Platform?
Building a scalable INSTANT event sequencing layer is the goal of the Kaspa foundation layer. The broad and open structure of the network will also be due to Layer 2 (L2) developments.
Kaspa aims to build a mutual, scalable sequencing layer, quicker settlement times, and private pre-trade activities that prevent censoring miners and create an atmosphere of cross-silo communication.
Who Are The People Behind Kaspa?
Yonatan Sompolinsky and Aviv Zohar came up with the concept of Kaspa, and they made it into action in 2016. Kaspa was developed to build a decentralized blockchain network that is more scalable and user-friendly than any other current cryptocurrencies.
They created and implemented a project using the GHOSTDAG protocol to address the scalability issue with the PoW blockchain. Moreover, Kaspa offers safety with the advantages of quicker settlement times and adjustable block time and reward.
The people who have worked behind building this rising crypto platform are professionals who have contributed to previous successful blockchain projects.
The professionals behind the foundation and a solid aim made it possible for Kaspa to be established on a strong foundation and to have the potential to become a significant player in the cryptocurrency market.
What Makes Kaspa Unique From Other Cryptocurrencies?
Several features of Kaspa make it different from many other current crypto platforms.
The feature of scalability is one of the significant factors that makes Kaspa unique from others. The unlimited block size of Kaspa sets it apart from cryptocurrencies like Bitcoin, which has a limited block size.
The unlimited block size of Kaspa allows it to handle more transactions within seconds, making it more efficient and quicker than other crypto platforms.
The simple and intuitive user interface makes Kaspa more user-friendly. This feature enables users to easily create and publish content and transaction value. Kasp is accessible to a wide range of users, including new users in crypto platforms.
Kaspa has the potential to transform the way content is created, as well as to provide new opportunities for content creators and publishers.
What Will Be The Future Of Kaspa?
Even though Kaspa has several unique features that make it different from all other crypto platforms, it had to face several challenges in the phase of its development.
The latest rise in the price value of Kaspa can be regarded as its journey to a successful future. The demand for alternatives to centralized social media and content platforms paves the way for Kaspa to be a significant player in the digital currency world in the coming years.