Let’s now talk about one of the projects that change my life in 2023: KASPA, $KAS!
What’s Kaspa?
Kaspa is a blockchain project that’s focused on solving some of the biggest challenges in crypto, like scaling and staying decentralized. It’s built on a proof-of-work system but uses this cool protocol called GHOSTDAG, which lets it process a bunch of blocks at the same time. This makes it faster and able to handle more transactions without losing that decentralized vibe that everyone loves.
Kaspa started making waves in the blockchain world thanks to its unique approach to solving some of the issues that plague other networks, like slow transaction times and the struggle to stay decentralized while scaling up. It was created by Yonatan Sompolinsky, a researcher in blockchain technology, who came up with the GHOSTDAG protocol. This protocol is a twist on traditional proof-of-work systems, allowing multiple blocks to be processed at the same time, which is a big deal for speeding things up.
UPDATE about KASPA
I decided to jump back into Kaspa ($KAS) today. The price seems interesting compared to other assets right now.
I had fully cashed out in August 2023, but Kaspa’s strength is hard to ignore. While I’m not super sold on the idea of peer-to-peer payments on transparent blockchains (even if they’re fast), I still think KAS has a solid chance to do well in this cycle.
Here’s why I’m feeling bullish about Kaspa:
1) Trilemma solver: Kaspa is being recognized as a potential solution to the blockchain trilemma—balancing decentralization, security, and scalability. While opinions may differ on what it means to fully solve the trilemma, Kaspa is seen as one of the first real contenders. The market seems to believe in this narrative, which is a good sign.
2) KRC-20: I didn’t follow the initial KRC-20 token rollout closely, especially after some issues, but it’s about to be relaunched. If it works well this time, it could really boost activity on the Kaspa network. I’m not sure how KRC-20 stacks up against other smart contract platforms, but having it in place is definitely a step in the right direction. If you want to read more, here’s my article about Kaspa KRC20: Kasplex protocol !
3) Market penetration: Kaspa is definitely making waves in the crypto space. Even though its real-world utility is still growing, it’s gained a lot of attention. Big exchanges have listed it for free, mining companies are on board, and the general opinion of Kaspa is pretty strong. There’s momentum here.
4) The Crescendo Hard Fork: The upcoming Crescendo Hard Fork is another reason to keep an eye on Kaspa. This upgrade will push the network’s block rate from 1 to 10 blocks per second, which could be a huge improvement in terms of speed and scalability. After successfully rolling out the Rusty Kaspa (RK) software (now handling 97% of blocks), this hard fork could be a game-changer.
Final thoughts
I’ve been working on building a stronger portfolio with better strategy and diversification. Kaspa definitely deserves a spot, and I plan to allocate more towards it soon. I just need to sort out a few details about how to balance my overall portfolio first.
