One of the best ideas I've seen in a while. It's a layer 1 proof of work chain that's claiming to solve the blockchain trilemma by removing the need for block propagation delays. What you need to know to understand this simple terms is that Bitcoin hardcoded a 10 min delay between the creation of each new block for security reasons. This delay makes sure that the last block created by a miner first reaches every other miner in the network before the next block is created. Kaspa found a way to remove that delay without compromising security, which includes DAG technology with several improvements. I'm not going to attempt to explain that solution here, but the founder explains it reasonably well in this video.
There are other chains, like Solana, that have solutions that allow for less than a second between blocks, but those solutions are strongly criticized for being centralized, which defeats the purpose of a blockchain (you might as well use a regular database which is usually much more efficient in many ways).
Kaspa's innovation allows for a massive increase in scale while still remaining as decentralized as Bitcoin, or even more decentralized as they also have additional technologies to discourage ASICS mining and other centralizing forces.
They also use an upgraded hashing algorithm called "kHeavyHash" which is supposed to be a lot less energy intensive than Bitcoin's SHA 256 algorithm. Here's a quote from their website "In order to keep decentralization intact while addressing any possible environmental negatives associated with mining, Kaspa has strategically chosen kHeavyHash. This algorithm is a very efficient ‘core heavy’ algorithm that allows very high hashing power per watt (as compared to most PoW algorithms such as ETHash, SHA-256, KawPow)."
So I'm a big fan of this project, they have an innovative technology and focus on decentralization, which I think is the whole point of the industry. However, this doesn't mean that Kaspa will replaced Bitcoin or the other big chains. There are still unanswered questions like how they will be interoperable with other chains or how they'll deal with transaction privacy. But I believe that this project has a great chance to become one of the top chains very soon and contribute greatly to the progress of the entire industry. Show Less
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