What Is Kaspa (KAS) ?
Kaspa is a decentralized, open-source, and scalable Layer-1 blockchain solution that implements the GHOSTDAG protocol, making it the fastest and most scalable instant confirmation transaction layer built on a proof-of-work engine. It is the world's first blockDAG, enabling parallel blocks to coexist and orders them in consensus.
The project is founded by Yonatan Somplinsky, who is also one of the authors of the GHOSTDAG protocol. Kaspa is deeply rooted in community values and is fully community-governed and funded. It offers a user-friendly and secure web wallet and is known for its high-level security features. Kaspa's native currency is KAS, which is used for all on-chain transactions and to distribute mining rewards.
What is Kaspa (KAS) used for?
Kaspa is a blockchain protocol designed to address scalability issues faced by traditional blockchain networks like #Bitcoin . Kaspa aims to provide a scalable and decentralized platform for a variety of use cases, including financial applications, decentralized applications (DApps), and other blockchain-based services.Key features and use cases of Kaspa include:
Scalable Transactions: One of the primary purposes of Kaspa is to overcome the scalability limitations of existing blockchain networks. It employs a blockDAG (Directed Acyclic Graph) structure, which is intended to support a higher throughput of transactions compared to traditional blockchain architectures.
Decentralization: Kaspa emphasizes decentralization by utilizing a decentralized routing mechanism for transactions. This is intended to distribute the transaction load across the network, avoiding centralization concerns associated with some other blockchain networks.
Smart Contracts: Kaspa supports the implementation of smart contracts, allowing developers to create decentralized applications on its platform. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller directly written into code.
