$KAS: The Native Token of Kaspa Blockchain Is Up Over 2500% in 2023

Overview

Kaspa (KAS) positions itself as the fastest, most scalable Layer-1 blockchain, a claim made by its creators. It’s built on a proof-of-work engine and is structured as a blockDAG – a deviation from traditional blockchain designs. The Kaspa team asserts that this enables immediate inclusion of transactions in the ledger.

GhostDAG/PHANTOM Protocol

The platform’s underlying technology is based on the GhostDAG/PHANTOM protocol. This is a scalable version of the Nakamoto Consensus, aiming to retain core Bitcoin principles like proof-of-work mining and a UTXO-formed state. The developers claim this protocol allows Kaspa to support high block rates while maintaining the security level of established proof-of-work environments.

Addressing the Blockchain Trilemma

Kaspa claims to solve the blockchain trilemma of balancing security, scalability, and decentralization. Using the GhostDAG protocol, it purportedly integrates orphan blocks into the chain, forming a blockDAG. The protocol is said to use a greedy algorithm for block ordering, favoring well-connected, honest blocks. These capabilities, as claimed, allow Kaspa to improve block rates substantially while maintaining security.

Key Features According to Kaspa

1. Fast Confirmations: The platform is designed for fast confirmations, which, according to its developers, are essential for use cases requiring immediate proof of publication.
2. High Throughput: Kaspa’s team claims that their technology removes the security bottleneck, allowing for increased block rate and size.
3. Mining Decentralization: They aim to reduce the variance of mining income, decreasing the reliance on large mining pools and fostering decentralization.

Vision and Tokenomics

Kaspa’s vision, as articulated by its team, is to build a system that transcends Bitcoin’s protocol while adhering to its original principles. The project draws inspiration from the role of silver in history, aiming to be more circulative and widely accepted for payments. Its tokenomics features a maximum supply of 28.7 billion coins, with a unique emission schedule designed to promote mining decentralization.

Core Development Team

Significant contributors to Kaspa’s development, as stated by the project, include Michael Sutton (distributed systems researcher), Shai Wyborski (Kaspa researcher and GHOSTDAG paper author), Mike Zak (cryptocurrency developer), Elichai Turkel (applied cryptographer), and Ori Newman (cryptocurrency developer).

Crypto Exchanges Supporting the KAS Token

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Here are some of the exchanges where the KAS token may be traded:

• KuCoin
• MEXC
• Bybit
• Bitget
• Uphold

Performance of the KAS Token

Currently, KAS is trading at around $0.144803, up 35.2% in the past 24-hour period. A market cap of approximately $2.86 billion makes it currently the 28th most valuable cryptoasset.

Even more impressively, the KAS token is up over 2585% in the year-to-date period.

However, the really crazy thing is that since its all-time low of $0.00017105, which was reached on 26 May 2022, the price of the KAS token is up a jaw-dropping 77,430.64%.

Featured Image via Pixabay

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• Source: https://www.cryptoglobe.com/latest/2023/11/kaspa-kas-a-closer-look-at-fastest-open-source-decentralized-and-fully-scalable-layer-1-in-the-world/