Launched in 2021, Kaspa offers a community-driven platform with no pre-mining or pre-sales, ensuring equitable distribution of its 28.7 billion KAS tokens.
Today, we will cover the following topics:
- About Kaspa
- KRC-20 Tokens
- Key Features
- Technical Analysis
- Why is KAS The Coin of the Week?
About Kaspa (KAS)
What is Kaspa?
Kaspa (KAS), launched as a cutting-edge proof-of-work blockchain, is redefining scalability with its BlockDAG architecture, enabling high-speed transactions by allowing multiple blocks to coexist without discarding any.
This innovative structure significantly enhances transaction throughput, facilitating up to 100 blocks per second—far surpassing traditional blockchains like Bitcoin.
The network supports high block rates and quick transaction confirmations, solving many of the bottlenecks seen in legacy PoW systems.
Dig deeper into Kaspa whitepaper.
How does Kaspa work?
Kaspa uses the GHOSTDAG protocol, which enables parallel blocks to exist together and be arranged in consensus, unlike traditional blockchains that reject simultaneously mined blocks.
This blockDAG system boosts both scalability and security by sustaining high block throughput while preserving decentralization.
This innovative structure, along with features like block data pruning and Simple Payment Verification (SPV) proofs, allows users to verify transactions without downloading the entire ledger, making Kaspa a standout in blockchain scalability.
KAS Token
Kaspa (KAS) is the native cryptocurrency of the Kaspa blockchain, which utilizes a unique BlockDAG architecture to enable faster block validation.
The network’s scalability is designed to handle high transaction speeds, with a current block rate of 1 per second and plans to reach 10 or even 100 blocks per second. KAS has a limited supply of 28.7 billion tokens, and mining rewards halve annually, similar to Bitcoin's tokenomics. KAS is available on exchanges like KuCoin, Gate.io, and Bybit.
KRC-20 Tokens
Kaspa’s launch of KRC-20 tokens marks a significant step in its expansion into the DeFi space, enabling smart contracts and decentralized applications on its blockchain.
Since the September 15, 2024 mainnet launch, over 150 tokens have been deployed, including popular ones like $NACHO and $GHOAD.
The Kaspa network demonstrated its scalability by handling over 13 million transactions in 24 hours, peaking at 1,000 transactions per second.
This development showcases Kaspa’s ability to meet high demand and positions it as a strong contender in the growing decentralized finance ecosystem.
Key Features
Instant Validation
Ensures pre-trade privacy and protection against transaction manipulation.
Decentralized
Despite its speed and scalability, Kaspa remains fully decentralized, with community-driven governance ensuring that the network stays secure and resistant to censorship.
User-Friendly Wallet
Includes a simple interface with multi-signature security, auto-compounding functionality, and seed phrase recovery for enhanced accessibility and security.
Smart Contracts
Future plans to integrate smart contracts, expanding Kaspa's use cases and functionality.
GHOSTDAG Consensus
Kaspa’s revolutionary GHOSTDAG protocol allows for higher transaction speeds and throughput by processing multiple blocks concurrently.
KRC20 Tokens
Kaspa supports the creation of KRC20 tokens, offering developers the flexibility to build custom tokens on the network for DeFi, gaming, and other decentralized applications.
Technical Analysis
As per our previous KAS analysis, KAS has impressively held the $0.15 support.
For bullish momentum to continue, a break above the head-and-shoulders neckline, marked in red at $0.181, is necessary.
In the meantime, if KAS retests the blue support level, we will be looking for new short-term long opportunities.
Why is KAS The Coin of the Week?
Kaspa (KAS) is the Coin of the Week due to its impressive innovations and strong market performance.
With the recent launch of KRC-20 tokens, Kaspa has entered the DeFi space, enabling smart contracts and decentralized applications on its highly scalable, secure blockchain.
From a technical analysis (TA) perspective, KAS has shown relative strength compared to many altcoins. It is currently approaching a strong resistance zone, which could become an attractive area to consider for long-term long positions.
Don't forget to check out more of our Coin of the Week articles.
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See you next week for another coin of the week! 🚀
