I. Project Introduction

1. What Is Kaspa (KAS) ?

Kaspa is a high‑performance, proof‑of‑work (PoW) public blockchain built on the GHOSTDAG protocol. It is designed to deliver high throughput, low latency, and scalability, while preserving the security and decentralization inherent in PoW networks.

Kaspa’s core innovation lies in its BlockDAG (block directed acyclic graph) structure, which overcomes the performance limitations of traditional blockchains that rely on a single linear chain, allowing multiple blocks to be produced in parallel and accepted by the network.

The goal of Kaspa is to become the “fastest PoW Layer‑1”, providing foundational support for future payments, DeFi and infrastructure‑level applications without sacrificing decentralization nor security.

2. How Does KAS Work?

a) GHOSTDAG Consensus Mechanism: Kaspa does not discard orphan blocks. Instead, it incorporates all blocks produced in parallel into the consensus using the GHOSTDAG protocol, thereby significantly improving throughput and block production efficiency.

b) BlockDAG Architecture: Unlike conventional blockchains with a single linear chain of blocks, Kaspa’s ledger forms a directed acyclic graph (DAG). This structure allows multiple blocks to be confirmed simultaneously and avoids security weaknesses that can arise from high block frequencies.

c) High Block Rate & Fast Confirmation: Kaspa currently supports second‑level block intervals with plans to further increase throughput. This enables almost real-time confirmations, making the network suitable for payment systems and high‑frequency interactions.

d) Pure PoW with No Smart Contract Burden: Kaspa focuses on building a high‑performance Layer‑1 infrastructure and does not currently support complex EVM smart contract execution, keeping the protocol simple, performant and secure.

3. Who Founded Kaspa?

Kaspa was initiated by a group of researchers in cryptography and distributed systems, with a strong academic and engineering orientation.

Yonatan Sompolinsky: One of the core theorists behind Kaspa and the original author of the GHOST protocol (an important early reference for consensus research in projects such as Ethereum). His work has significant academic influence in blockchain consensus design.

Research-driven team structure: The Kaspa team does not follow a "strong market narrative + VC-led" model; instead, it advances protocol development through an open-source, research-oriented approach.

Funding: Kaspa did not conduct venture capital financing, private sales, or pre‑mining. The project is a typical PoW project with fair launch.

4. Kaspa Tokenomics

Token Name: KAS

Consensus Mechanism: Proof of Work (PoW)

Total Supply: Approximately 28.7 billion KAS (with a fixed cap)

Issuance Method:

a) No pre‑mining

b) No private sale

c) No team allocation

d) All tokens are gradually released through mining.

Emission Mechanism: Kaspa uses a smooth emission reduction model. Different from Bitcoin’s 4‑year halving cycle, this model reduces issuance gradually and smoothly each month to minimize market disruption, with long‑term inflation approaching zero.

Token Utility: KAS is used to pay network transaction fees, incentivize PoW miners, and secure the network. It also serves as a foundational value asset for future ecosystem layers, such as Layer-2 solutions and application layers.

5. Timeline of Key Milestones

2021: Kaspa mainnet was launched with GHOSTDAG + BlockDAG architecture, achieving a fair launch.

2022–2023: The network operated stably while increasing block frequency and throughput; the Kaspa community and hash rate continued to grow.

2024: Kaspa became one of the mainstream PoW networks, with a mature miner ecosystem and significantly enhanced decentralization.

Future Roadmap:

a) Further increase block frequency and network performance

b) Optimize DAG scale and parallel processing efficiency

c) Explore Layer‑2 and application‑layer expansions without compromising PoW security

d) Strengthen node efficiency and lightweight node support to improve global accessibility

scalable Layer-1 cryptocurrency built on proof-of-work (PoW) and powered by the GHOSTDAG protocol — a novel consensus mechanism that extends Nakamoto’s original design. Unlike traditional blockchains that discard competing blocks, GHOSTDAG allows parallel blocks to coexist and orders them within a Directed Acyclic Graph (blockDAG), enabling high throughput while preserving decentralization and security. Kaspa currently processes 10 blocks per second, with a long-term goal of scaling to 100 blocks per second, offering confirmation times limited only by internet latency. This level of performance was made possible by the Crescendo upgrade — a hardfork that successfully increased Kaspa’s block rate to 10 BPS while maintaining network stability. Kaspa's mission is to create a PoW that operates with internet speed, combining the reliability of proof-of-work with the responsiveness demanded by modern applications. True to its foundational principles, Kaspa is engineered for accessibility and decentralization. Its full node runs smoothly on a standard PC, requiring modest hardware thanks to efficient multithreaded CPU use and a secure pruning mechanism that limits disk usage while preserving cryptographic integrity. This design reflects Satoshi’s original vision — a decentralized network where anyone can participate fully without specialized equipment. Layer-2 solutions are in active development to further expand Kaspa’s capabilities. These efforts aim to leverage Kaspa’s unique architecture — particularly its multi-leader consensus — to support scalable applications, MEV resistance, decentralized oracles, and secure sequencing for broader ecosystem growth.

II. Token Information

1) Basic Information
Token name: Kaspa(KAS)

III. Related Links

Website：https://kaspa.org/
Explorers：https://explorer.kaspa.org/
Socials：https://x.com/kaspaunchained

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.

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