Bitcoin is the most famous crypto in the world. With more than 1,000 billion dollars, BTC has the largest capitalization. Despite its success, Bitcoin faces technological difficulties. For example, the network is not able to handle a large number of transactions. Some rivals like the Kaspa blockchain are using the winning recipe of BTC while banking on innovative technology that allows them to have better scalability. Find out what the KAS token is and why buying Kaspa is a good investment.
Updated on 06/04/2024 at 1:59 p.m. by Léa
What is Kaspa (KAS)?
Kaspa is a blockchainher native token is KAS. The blockchain was launched on November 7, 2021. The founder of the project is named Yonatan Sompolinsky who invented the GHOSTDAG protocol which powers the blockchain.
Around Yonatan Sompolinsky, the project has various important contributors such as:
- Michael Suttonresearcher and developer of distributed systems;
- Shai Wyborskione of the authors of the white paper on GHOSTDAG ;
- Aviv Zoharprofessor who collaborated with Yonatan Sompolinsky on the creation of GHOSTDAG;
- Mike Zakresearcher and developer of distributed systems;
- Elichai Turkeldeveloper and cryptographer;
- Ori Newmandeveloper of cryptocurrencies and distributed systems.
Kaspa describes itself as the transactional layer:
“The fastest and most scalable proof-of-work (POW) engine ever built.”
The blockchain presents many similarities with Bitcoin. Like BTC, KAS crypto is positioned in the peer-to-peer payments sector.
In other words, KAS does not play in the same category as Ethereum and the development of decentralized applications (dApps) and DeFi. The proximity between Kaspa and Bitcoin goes further than their objective, it is also technological.
In fact, the Kaspa network was built on the foundations of Bitcoin developed by the famous Satoshi Nakamoto:
- Limited number of corners which makes the inflationary monetary policy ;
- No central governance ;
- Use of consensus P.O.W. (Proof-Of-Work);
- Mining possible with ASICs.
Kaspa is therefore reminiscent of cryptos resulting from a fork of the Bitcoin code such as Bitcoin (LTC) or Bitcoin Cash (BCH). But Kaspa goes even further and equips itself with a unique technology which allows it to display much better performance than Bitcoin (better scalability, faster transactions).
KAS is the native token of the Kaspa network and allows you to:
- Serve as a store of value (like BTC);
- Participate in protocol governance. Users can thus submit Kaspa Improvements Proposals (KIPs).
As with Bitcoin, it is possible to mine Kaspa with ASICs.
The efficiency of the Kaspa network is mainly based on the use of the following technologies:
- BlockDAG. This is a chain structure that combines the classic linear blockchain model (example: Bitcoin) with that of the directed acyclic graph (DAG) in force on the crypto Avalanche (AVAX) and Fantom (FTM) in particular. This combination allows blocks to be processed in parallel, which improves the speed of transactions.
- GHOSTDAG. It is the consensus protocol that helps secure the network. The GHOSTDAG allows orphan blocks to be integrated into the BlockDAG, which improves its energy efficiency. In addition, it provides better security against manipulation by minors.
- Rust, the programming language. It will soon enable the protocol to evolve towards a DAGKNIGHT model in order to offer even more security and speed.
With the use of these technologies, the Kaspa network is faster and more secure than Bitcoin. THE processing time of a block is one second while it is 10 minutes on Bitcoin, or 600 times slower. In testing, the developers even went further and achieved a block processing time of around 100 ms!
Kaspa (KAS) price current price, history and forecast
Find out some facts about the Kaspa price (past, present and future) below.
KAS Token Price History
The price of Kaspa has seen three main increases since its creation:
- March 2023 : the price of the Kaspa crypto has passed a first level by reaching $0.03 on March 4.
- October – November 2023 : the price continues to increase in 2023 before experiencing a surge at the end of the year. The Kaspa price goes from $0.04 on October 14 to $0.14 on November 20.
- February 2024. The price of Kaspa goes from $0.09 on February 6 to $0.18 on February 20which remains its historic record (ATH) to this day.
In total, the price of Kaspa exploded 8,600% since 2022.
Analysis of the current price of the KAS token
The current price of the Kaspa cryptocurrency is $0.178. It is up 60% over the last month and by an incredible +968% over the last year (as of June 4, 2024).
KASPA (KAS) Price Forecast
For Coincodex, the Kaspa crypto price forecast is positive with a price target between $0.14 and $0.6 in 2024. Analysts see the price surpassing $0.1 in 2025 and moving closer to the dollar by 2029.
For Changelly, the Kaspa price predictions are just as good with a fluctuating price between $0.14 and $0.3 in 2024 and exceeding $0.5 in 2027.
You can buy Kaspa on the Bitget exchange in the following way:
- Step 1 : Opening an account by going to the Bitget French homepage and clicking on “Register”.
- 2nd step : Verify your account. Bitget is a platform that is subject to certain regulations. In this, it requires certain security steps such as KYC before providing access to all the services of its platform.
- Step 3: Deposit funds. You can transfer fiat money to Bitget via your bank card or by wire transfer. This money will be used to buy cryptos directly with fiat.
- Step 4: Buy KAS. Simply go to the spot market tab and choose the trading pair that puts KAS into play, namely KAS / USDT. This pair allows you to sell Tether stablecoins (that you already own or purchased with previously deposited money) and buy KAS tokens. It is currently not yet possible to purchase KAS by card or transfer on Bitget. The platform also offers Futures trading of KAS tokens.
Kaspa storage, which wallets to use?
The Kaspa cryptocurrency is compatible with many wallets. If you opt for a cold wallet, know that you can recently store KAS tokens on Ledger. Another cold wallet you can use is Tangem.
On the hot wallet side, it is possible to store the KAS token using Kaspium where the Kaspa native wallet.
Our opinion on Kaspa
Kaspa is a very promising cryptocurrency. It is inspired by the basics of Bitcoin, the largest crypto in the world. But she aims to go even further. The Kaspa team has thus integrated very innovative technologies such as the arrangement of blocks following the BlockDAG and the use of the Rust language and the GHOSTDAG consensus protocol.
The KAS network is therefore based on a advanced technology which allows it to display higher performance than Bitcoin in terms of scalability and security. Launched in 2021, the KAS blockchain already has a capitalization greater than 3 billion dollars which positions the KAS token at the gates of the top 30 worldwide! If Kaspa manages to confirm its promises, there is no doubt that crypto will establish itself as Bitcoin’s great competitor.
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