About
Kaspa is a decentralized, open-source Layer 1 blockchain that utilizes a revolutionary BlockDAG (Directed Acyclic Graph) architecture to achieve rapid transaction speeds without sacrificing the security typical of Proof of Work (PoW) systems. Launched in late 2021 by Yonatan Sompolinsky and a dedicated research team, the project is a community-driven initiative that strictly adheres to the principles of a "fair launch" meaning no pre-mine, no pre-sale, and no initial coin allocations. Its primary mission is to solve the blockchain trilemma by providing a scalable and truly decentralized engine for instant global payments.
The technical heart of the network is the GHOSTDAG protocol, an evolution of the Nakamoto Consensus that allows parallel blocks to coexist rather than being discarded as "orphans." Traditional blockchains like Bitcoin process transactions in a linear sequence, which limits their speed to prevent network congestion. In contrast, GHOSTDAG enables Kaspa to produce multiple blocks every second, which are then mathematically ordered into a cohesive ledger. This structure allows for near-instant block propagation and sub-second transaction visibility, making it one of the fastest PoW networks in existence.
Mining on Kaspa is governed by the kHeavyHash algorithm, which was specifically designed to be energy-efficient and hardware-friendly while maintaining robust network defense. Unlike the SHA-256 algorithm used by Bitcoin, kHeavyHash is optimized for parallelization, which has allowed the network to support high block rates (currently 1 block per second, with goals to reach 10 or more) while keeping the variance of mining income low. This incentivizes a more decentralized distribution of hash rate, as individual miners can receive rewards more consistently without being forced into massive centralized pools.
The KAS token serves as the native currency and the lifeblood of the BlockDAG, used for all transaction fees and as a reward for the miners who secure the network. It features a unique "chromatic" emission schedule, where rewards decrease smoothly every month in a way that mimics a musical scale, eventually leading to a halving every year. This predictable and transparent monetary policy is designed to ensure long-term scarcity while providing the necessary incentives for network maintenance during the early stages of adoption.
As the project matures into 2026, the focus has shifted toward the "Rust rewrite," a major software overhaul intended to further optimize the network's performance and pave the way for smart contract integration. By moving from the original Go implementation to Rust, Kaspa aims to significantly increase its blocks-per-second capability, potentially enabling a new era of decentralized finance (DeFi) on a high-throughput PoW foundation. This evolution seeks to combine the industrial-grade security of Bitcoin with the speed and flexibility of modern smart contract platforms.
