Hello friends, in each bull market a new project usually appears that quickly climbs positions to remain among the cryptocurrencies with the highest market capitalization and this has been the case in each new cycle in which new projects and new solutions for technological improvements usually appear. blockchain.
So to speak, trying to improve the scalability, security and usability problems of other major competitors and without a doubt one of the projects that has been the most talked about in the last year with enormous growth that has allowed it to climb to the top 30 of CoinMarketcap .
The birth of Kaspa, starting with the history and journey of this cryptocurrency, we have to go back to 2019 in which Kaspa was founded by a team of anonymous developers one of the origins that is quite reminiscent of bitcoin whose founder satoshi nakamoto has remained anonymous since its founding.
However, unlike bitcoin, despite being made up of a decentralized development team and guided by what the Kaspa community dictates, it has a main person who is the one attributed by the name of founder, Yonatan Sompolinsky, Yonatan began gain reputation in the world of blockchain in 2013, especially when it created the GHOSTD protocol with the purpose of being able to implement this technology that they had created and just two years later in November 2021, the dandruff main network was launched and without pre-sales or pre-assignments in a completely decentralized way.
However, it was not until 2022 when Kaspa began to gain more notoriety by listing its token on some of the largest exchanges and beginning to gain significant market capitalization and rising enormously in price.
Kaspa is a project that uses the proof of work consensus protocol just like bitcoin but with the big difference that Kaspa claims to have the capacity to become the fastest and most scalable proof of work blockchain on the market that has ever been built. never because it is based on a protocol called The GHOSTD which, without going into two other technical details, aims to solve some of the problems that the largest crypto projects have by making more efficient, secure transactions and reducing time.
Seeking dependence on large mining pools, so unlike bitcoin, Kaspa would rather be an approximation to what digital silver could be, in fact Kaspa means silver in the Aramaic language. What the developers would have sought was to give it a similar approach to a cryptocurrency, so that it would be less expensive than in this case gold compared to bitcoin, but with greater circulation power and greater capacity to be exchanged on a day-to-day basis.
| Kaspa versus bitcoin |
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It has a similarity if we were talking about gold and silver and after relating it directly to Bitcoin and Kaspa has the objective of bringing the best of Bitcoin and Ethereum in the same project to be able to solve the famous blockchain problem known as The M Trilemma. that most crypto projects have a problem in common and that is that they are not capable of simultaneously providing security, scalability and decentralization and to solve this problem Kaspa uses the GHOSTD protocol so that it chooses the blocks in a much more scalable way than At the moment it works at a not very high speed of exactly one block per second, but as they have reported according to the format of their protocol, they intend to progressively increase the scalability of the project and all this without compromising its security, thus maintaining the security standards of the bitcoin network itself.
| In conclusion |
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Kaspa has the potential to be the digital silver something that Ethereum was intended to be but the security problems in the Ethereum network leave a lot to talk about and Kaspa is going strong at the moment, warning I am not recommending investing in Kaspa since it is in a high peak and could have a strong correction.
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Link Twitter
https://twitter.com/joel_jai1/status/1726125639017824464
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This is an interesting post that you have shared, I still believe that bitcoin is still the father of cryptocurrency
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