@KaspaCurrency completes Satoshi Nakamoto's vision of blockchain by solving the #Bitcoin Trilemma.
The tech of #Kaspa is groundbreaking and the team is one of a kind.
In this post:
1. Vision of Kaspa
2. blockDAG
3. PHANTOM protocol
4. GHOSTDAG
5. Use Cases
6. Applications
7. Tokenomics
8. Founder / Team
9. Community
10. Conclusion
1. Vision
The vision of Kaspa is to complete Satoshi‘s vision of a peer-to-peer (decentralized) cash system.
Satoshi wasn’t able to achieve his vision with #Bitcoin as it rather became a store of value / electronic gold.
Kaspa sees itself as the digital silver.
Kaspa stands for silver and money in Aramaic. Silver is less precious and rare as gold but is more eligible as a currency.
2. blockDAG
While conventional blockchains have a linear block order, blockDAG is acyclic allowing blocks to reference multiple previous blocks.
Therefore multiple blocks can be created and confirmed simultaneously allowing for faster transactions and potential scalability.
3. PHANTOM protocol
PHANTOM can distinguish between properly mined blue blocks by honest nodes and red blocks created by non-cooperating notes deviating from the mining protocol.
It consists of a three-step-procedure:
1) Through the structure of blockDAG well-connected blocks get recognized as blue blocks. At the same time it excludes blocks by misbehaving nodes (red blocks).
Blue blocks are updated through time. They are excluded from the set of blue blocks when they only reference old blocks or they are withheld by their creator.
2) Blocks from a cluster (well-connected) are being favored, while blocks outside are penalized.
3) The order of blocks includes the order of transactions. Transactions in the same block are ordered after their appearance in the block. Transactions get accepted in this order as long as they consist with earlier accepted transactions.
4. GHOSTDAG
With the implementation of PHANTOM NP-hard problems need to be solved. GHOSTDAG with its greed algorithm solves the problems. It also allows for blocks by attackers or less trusted blocks to be put later in order.
Therefore no blocks get discarded but instead they are being labeled as blue or red with blue blocks getting prioritized.
GHOSTDAG makes the KASPA blockchain secure because its ordering of blocks gets exponentially harder to reverse with time.
5. Use Case
KAS is there to complete Satoshi‘s vision of a decentralized P2P cash system with a currency which won't inflate in the future (max supply 28.7b).
Kaspa completes the vision with the same level of security as BTC while being scalable and faster (~400tps).
Transactions are visible after 1s and confirmed after 10 seconds perfect for real word adoption / payment.
When Kaspa reaches 100bps it will be able to handle more transactions than Visa and Mastarcard together.
On the recent testnet it has reached 10bps.
future → 32bps → 100bps
6. Applications
Possibly the only real point of criticism there is to raise about #Kaspa:
There are no Smart Contracts or Rollups integrated to the blockchain yet.
However when they come Kaspa will be the most complete blockchain out there. 🤩
7. Tokenomics
KAS fair-launched in November 2021 meaning no pre-mining or pre-allocation of coins in any kind.
So Kaspa is 100% decentralized, open source and managed by the community.
Max supply is 28.7b with 20b in circulation with a 900mil marketcap. (as of August 2023)
The emission schedule halves once per year via monthly reductions. 👇
8 Team:
The founders @Avivz78 and @hashdag (Yonatan Sompolinsky) are one of the earliest crypto developers and crypto OG‘s, working on Bitcoin‘s consensus back in 2010.
YS is the brain behind Ghost, Spectre, Phantom, GhostDAG and now the improved version DAG Knight.
YS is mentioned in the whitepapers of $ETH, $DOT, $IOTA, $AVAX and much more. @plzsats 👇
https://x.com/plzsats/status/1623660917060694016?s=20
Some also speculate that YS could be Satoshi himself. @phoenix_gems47 👇
https://x.com/phoenix_gems47/status/1594693316624400384?s=20
There also is @MichaelSuttonIL.
He is the core developer and co-author of the DAG Knight protocol.
@DesheShai is also an important part of the team. He is the GhostDAG co-author.
Their consensus protocols from the past and the present are being used throughout the whole space.
9. Community
The community is growing fast and is especially enthusiastic about the project. There are also prominent ct names in the Kaspa community.
I know a large number of people for whom $KAS is their biggest investment/highest conviction play.
from July 11th 2023
10. Conclusion
Do your own research before investing.
For me KASPA is a project you don’t want to miss out even at a current marketcap of 900mil.
here is a quick overview by @fitforcrypto_ 👇
Website: https://kaspa.org
Whitepaper: https://eprint.iacr.org/2018/104.pdf
Socials of Kaspa:
Twitter: https://twitter.com/KaspaCurrency
Discord: https://discord.com/invite/kS3SK5F36R
Telegram: https://t.me/kaspaenglish
Medium: https://medium.com/kaspa-currency
Some account worth mentioning to learn about $KAS
If you liked this post go and give Pekay a follow ♥️
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