TL;DR
Kaspa is responsible for developing the world’s first BlockDAG protocol. At the same time, Directed Acyclic Graph (DAG) technology is nothing new. Kaspa has simply upgraded the original parallel processing formation by linking all side chains into a linear format. These systematic changes go even further when combined with what’s known as GHOSTDAG technology. The space began taking notice of Kaspa and this new technology around the beginning of 2022. Since then, Kaspa has exploded in value to bring its total annual gains to almost 2,000%. But, is Kaspa everything it’s said to be? Or is this just another IOTA disaster waiting to happen?
A crucial part of operating a network that people feel connected with and comfortable using is decentralization. It’s the reason why Bitcoin’s design carries such immutable elegance and DAGs are still considered the enemy of decentralization.
Kaspa has been compared to Bitcoin several times since its launch. But, Kaspa is nothing like Bitcoin and it never will be. The only similarity between Bitcoin and Kaspa is that both are Proof of Work networks that require mining to obtain new coins.
What is Kaspa?
Kaspa is a Layer-1 PoW network that allows multiple blocks to be hashed at the same time. The busier the network, the quicker it becomes. This allows Kaspa to scale at an incredible level compared to other networks.
Kaspa has been a community-driven project from the very beginning, with people from all over the world and all walks of life coming together to build the network. Everything from the GPU mining software to the Kaspa wallet has been crowdfunded by the Kaspa community.
Earlier this year we discussed Conflux Network’s Divergent DAG Technology. Pointing to how a DAG is inherently centralized. This is why Kaspa has chosen to keep its codebase open-source, allowing anyone to participate in the development of its network.
With scalability, security, and decentralization at the forefront of these concerns. Kaspa solves two of these basic constraints outlined in the great debate surrounding the Blockchain Trilemma problem.
That’s because some level of centralization can still be found through the consolidation of miners. However, as time goes on, these concerns become less problematic as more miners join the network. Helping to distribute block rewards more fairly. Making it less of a concern for Kaspa compared to other DAG projects like Hedera Hashgraph, IOTA, and Nano.
What is a BlockDAG?
Even if you haven’t been a part of the crypto community for long. The difference between a DAG and a Blockchain should be a familiar concept. While Blockchains operate linearly by producing one block after the next and the next block being unavailable for mining until the previous block has finished.
A DAG allows for multiple blocks to be mined simultaneously without the requirement of any one block’s completion for the network to validate transactions. These blocks are then linked together in a web-like fashion where information can easily be queried and verified.
The difference between a standard DAG and Kaspa’s BlockDAG technology is that it combines the best of both worlds. Creating a linear chain that links each web together.
This helps create a more efficient and easily managed network while…
Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin.
As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom.
“The swarm is headed towards us” -Satoshi Nakamoto
