An altcoin project inspired by Bitcoin’s (BTC) ethos is blowing up this month as its ecosystem undergoes a major series of updates.
The 199th-ranked crypto by market cap Kaspa (KAS) is worth $0.0121 at time of writing, up 23% in the last 24 hours, 58% in the last week, 86% in the last two weeks, and 115% in the last 30 days.
According to the altcoin project’s website:
“Kaspa is the fastest and most scalable instant confirmation transaction layer ever built on a proof-of-work engine. Transactions sent to miners can be included immediately in the ledger, which is structured as a revolutionary blockDAG.
BlockDAG is Kaspa’s version of the GhostDAG/PHANTOM protocol, and aims to deliver high block creation and transaction speed without the loss of security and decentralization that many higher-speed chains suffer from.
“Its design is faithful to the principles Satoshi embedded into Bitcoin — proof-of-work mining, UTXO [unspent transaction output]-formed isolated state, deflationary monetary policy, no pre-mine, and no central governance. Kaspa is unique in its ability to support high block rates while maintaining the level of security offered by the most secure proof-of-work environments.”
Kaspa currently has a crowdfunding campaign to get KAS onto a top 10 crypto exchange by trading volume.
?TOP 10 Exchange Crowdfund Update!
Over 1/4 of the way there! ?? Let's finalize this before the deadline of March 4th.
Links to donate $KAS and $USDT & see live progress here: https://t.co/Ct25Hdwlh0#KAS #Kaspa #ProofofWork #RUST #DAGKnight pic.twitter.com/PlorHUoFFo
— Kaspa (@KaspaCurrency) February 27, 2023
Kaspa also released a new version of the project’s whitepaper last week, which explains the nuts and bolts of the project’s algorithm in greater detail.
Last week, the project also announced they are in the development stages of several new hardware wallets.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/GrandeDuc/Dilok Klaisataporn