Kaspa (KAS)
Rank #63
Market snapshot
- Price
- $0.026924
- Market cap
- $744.5M
- 24h volume
- $8.4M
- Circulating supply
- 27,649,950,330.0899
- Total supply
- 27,649,950,330.0899
- Max supply
- 28,704,026,601
What is Kaspa?
Kaspa is a cryptocurrency that allows users to generate KAS through the process of mining. It operates as a layer-1 blockchain and is categorized under various classifications, including proof-of-work and mineable. The design of Kaspa incorporates elements that aim to provide a decentralized digital currency experience.
How Kaspa works
Users can generate KAS through mining, which involves validating transactions and adding them to the blockchain. The genesis proof follows the chain of pruning-point block hashes backward to the original genesis and verifies its UTXO commitment matches an empty set. Additionally, Bitcoin block hashes embedded in the genesis coinbase serve as timestamps, ruling out hidden premining.
Key information
- Symbol
- KAS
- CMC rank
- #63
- Network / platforms
- N/A
- Categories
- Mineable, Proof of work, Store of value
- Date added
- Jun 1, 2022
Key characteristics
Kaspa is categorized as a mineable cryptocurrency and operates on a proof-of-work consensus mechanism. It is built on a layer-1 structure and utilizes DAG technology, which differentiates it from traditional blockchain systems. Kaspa is open-source, allowing public participation in its development and operation.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Kaspa (KAS)?
- Kaspa (KAS) is a cryptocurrency that operates as a layer-1 blockchain and is categorized under mineable and proof-of-work. It is recognized for being made in America and operates within the Binance ecosystem.
- How does Kaspa work?
- Kaspa allows users to generate KAS through mining, which involves validating transactions. The genesis proof verifies its UTXO commitment and uses Bitcoin block hashes as timestamps.
- What are the technical characteristics of Kaspa?
- Kaspa operates on a proof-of-work mechanism and is categorized as mineable. It utilizes DAG technology, which allows for a different structural approach compared to traditional blockchains.
- What are the risks associated with transferring Kaspa?
- Digital asset prices can be volatile. Users should verify addresses and networks before transferring assets and understand the risks of self-custody.
- How can I verify my acquisition of Kaspa?
- Verify the asset name, network, and destination details before transferring. Ensure the destination address is correct and review your custody method.
- Where can I find official resources for Kaspa?
- Official resources for Kaspa include its website at https://www.kaspa.org and its GitHub repository at https://github.com/kaspanet/rusty-kaspa.
