Is Kaspa the New Bitcoin?
Kaspa Promises to outperform Bitcoin and become the “Silver” Crypto Currency!
Kaspa is promising a revolutionary change to the Bitcoin block! It is a new Crypto currency entirely based on the Bitcoin code, claiming to be the future of decentralized proof-of-work blockchain technology:
Kaspa is the fastest, open-source, decentralized & fully scalable Layer-1 in the world. The world’s first blockDAG — a digital ledger enabling parallel blocks and instant transaction confirmation — built on a robust proof-of-work engine with rapid single-second block intervals.
Built by industry pioneers, led by the people.
This is a bold statement, considering the global domination of Bitcoin as the leading crypto currency with a market cap of $680 Billion!
Here is a summary of Kaspa’s core technology:
“Kaspa is the fastest and most scalable instant confirmation transaction layer ever built on a proof-of-work engine.” Kaspa is based on the GhostDAG/PHANTOM protocol, a scalable generalization of the Nakamoto Consensus (Bitcoin consensus). Its design is faithful to the principles Satoshi embedded into Bitcoin — proof-of-work mining, UTXO-formed isolated state, deflationary monetary policy, no premine, 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’s current mainnet operates with one block per second. After the ongoing rust language rewrite, the core developers goal is to increase the number of blocks per second substantially, attracting the development of smart contracts and DeFi.”
As you can see, Kaspa has outlined a brilliant vision to live up to the “ethos” put forward by Bitcoin’s founder, Satoshi Nakamoto:
“The vision behind this project is to build a Nakamoto-like service that operates as fast as internet speed allows. We wanted to build a system that surpasses the limits of Satoshi’s v1 protocol (aka Nakamoto Consensus) yet adheres to the same principles embedded in Bitcoin. Contrary to Satoshi’s vision, Bitcoin did not become a peer-to-peer electronic cash system. Instead…