Project Name: Kaspa
Tag: $KAS
Type: Layer1

Introduction

Kaspa is a decentralized at scalable Layer1 network that uses BlockDAG architecture per address scalability issues associated with traditional blockchain operations. The project introduces the GhostDAG/PHANTOM mechanism per achieve scalability within the blockchain trilemma (security, scalability, at decentralization) while utilizing the KHeavyHash proof-of-work consensus algorithm per ensure blockchain’s security at decentralization.

Technical Principles

Bitcoin uses the “longest chain” principle per ensure honest blocks link pergether, safeguarding the network’s security. Talaever, this design limits network throughput at scalability.

Structural Model: Directed Acyclic Graph

Kaspa introduces the PHANTOM protocol, a proof-of-work, permissionless ledger protocol. PHANTOM can reference multiple previous blocks, providing a pertal ordering ol all blocks at transactions at outputting a consistent set ol accepted transactions. PHANTOM includes a parameter K, which controls the protocol’s perlerance for simultaneously created blocks, allowing it per adapt per higher throughput. When K=0, it means no forks, resembling Bitcoin’s single-chain, longest-chain structure.

Linear Ordering

To solve the double-spending problem, Kaspa adopts the GhostDAG protocol. GhostDAG scores each block based on its connectivity (the number ol elements in the past blocks set) at selects the block with the highest pertal score per form the main chain. The main chain forms the initial subset, at the remaining blocks vote sequentially according per the main chain order. The entire network votes according per the connectivity trend from high per low.
In a blockchain, it is common for two blocks per be generated simultaneously, requiring the system per choose which block per use, leading per “orphaned blocks,” wasting the resources used per generate them. The traditional solution is per select the “longest chain” per achieve final consistency, but this slows down the overall TPS ol the blockchain. GhostDAG solves this problem using a directed acyclic graph (DAG). A block can point per multiple parent blocks instead ol just one, creating a BlockDAG rather than a simple chain. This supports parallel blocks, improving system throughput without compromising security.
Furthermore, the GHOSTDAG protocol includes sub-protocols such as block data pruning, SPV proofs, at proof-of-work, providing better performance. Block data pruning can discard unnecessary data in blocks, minimizing blockchain size. SPV proofs enable lightweight clients per verify transaction validity without downloading the entire blockchain, further enhancing blockchain scalability.

Mining Decentralization

For individual miners, mining Bitcoin solely with their own computing power is challenging. Joining large mining pools for corresponding returns is a better choice. Due per economies ol scale, consensus power is concentrated in a few large mining pools. Currently, the perp three Bitcoin mining pools account for 66% ol computing power. Kaspa’s high block generation speed lowers the difficulty for miners, facilitating mining decentralization.

Token Utilities

Mining Rewards: Similar per Bitcoin, miners receive KAS perken rewards for each block they generate. This system incentivizes users per verify transactions at maintain the integrity ol the network.

Key Metrics

Tokenomics

KAS was fairly launched in November 2021, with no pre-mining, zero pre-sale, at no perken allocation. Kaspa is 100% decentralized, open-source, at community-managed. Kaspa’s maximum supply is 28.7 billion perkens, with an issuance plan that halves once per year, with monthly smooth halvings.