Dec 15, 2022 | News
In a recent article titled “Kaspa where to (Part III)” published on Kaspa’s website, Yonatan Sompolinsky shares his thoughts on the development funding models and sustainability for the Kaspa protocol. He discusses various operation modes for working on the protocol, including a “weekend project” approach with no financial incentive, receiving a grant from the community in exchange for code contributions, and finding a for-profit enterprise to further develop the kernel.
Sompolinsky also mentions a grant proposal for 70 MKAS, which is approximately 0.5% of the circulating supply, to support the continued development of the DAGKNIGHT (DK) protocol. He compares this to a previous grant of 100 MKAS, which was around 1% of the circulating supply at the time.
The article also touches on the concept of a “gift culture” in open-source development and the potential for long-term sustainability through a symbiotic relationship with a for-profit entity.
In summary, Sompolinsky presents different options for funding and sustaining the development of the Kaspa protocol and expresses his hope that his own biases do not influence his thought process too much.
Nov 26, 2022 | News
In a recent blog post by Yonatan Sompolinsky, he discusses the current state of the cryptocurrency project Kaspa and its recent developments. Despite the ongoing “crypto winter,” Sompolinsky argues that projects with strong character and innovation can still thrive.
Sompolinsky and his colleague Michal Sutton have published a new protocol called DAGKNIGHT (DK), which they claim is the first proof-of-work consensus protocol that can adapt to network latency and resist attacks from up to 49% of byzantine actors. This protocol is the result of nearly three years of research and development.
Before DK can be considered for use in Kaspa, there are still some steps that need to be taken, including completing missing details in the proof section, preparing the paper for peer-review, devising efficient algorithms, and adapting the consensus algorithm to meet the specific requirements of a cryptocurrency.
The DK protocol also enables high block rates and fast confirmation times, but further research is needed to determine the optimal block rate. Additionally, DK allows for new features such as flexcaps, which allow miners to create blocks of varying sizes and difficulties, and stealth transactions, which protect users from MEV (miner extractable value) when smart contracts are developed.
Sompolinsky also mentions the need for a new grant request from the Kaspa community to fund this consensus upgrade, and expresses hope that miners and other stakeholders will see the long-term benefits of this investment.
Lastly, Sompolinsky shares a mishap in the Kaspa Discord community where a moderator accidentally kicked out all inactive users, reducing the community size by 25%. However, he sees a silver lining in that it revealed 9,000 active members in the last 30 days, indicating a strong and engaged community.
In conclusion, Sompolinsky expresses gratitude for the active members of the Kaspa community and their role in turning Kaspa from a sound protocol to a sound money.
Nov 17, 2022 | News
Kaspa, a cryptocurrency project aiming to become a common currency for everyday use, has announced several initiatives to promote its adoption among merchants. The goal is to see Kaspa being used for daily transactions, not just trading and holding.
To achieve this, Kaspa plans to set up a Store Directory on its website, where merchants can list their businesses and receive social media promotions for added exposure. Merchants are encouraged to use Cryptocurrency Checkout, a platform that offers multiple integrations for Kaspa transactions.
Additionally, Kaspa is offering digital assets, window stickers, and point-of-sale tools to merchants who adopt the currency early. They will also receive some Kaspa to kickstart their wallets. Interested merchants can join Kaspa’s Discord channel for updates on this incentive.
Kaspa has also provided installation guides for various store integrations, including WooCommerce, Bigcommerce, WHMCS, Shopify, and HTML websites. Furthermore, the project offers donation integration guides for platforms like Twitch.tv, Youtube, Instagram, Facebook, and Twitter.
The full announcement can be found on Kaspa’s website, and it represents a significant step in the project’s pursuit of mass adoption. Merchants now have the resources and support to start accepting Kaspa as a form of payment, potentially increasing its use in everyday transactions.
Nov 9, 2022 | News
CoinEx, a cryptocurrency exchange platform, has announced the addition of KAS, a new trading option, to its list of supported cryptocurrencies. Starting on November 10, 2022 (UTC), users will be able to deposit and withdraw KAS, as well as participate in Automated Market Making (AMM) activities. The KAS/USDT trading pair will also become available on the same day.
For more information on KAS, visit CoinEx’s website at https://www.coinex.com/info/KAS.
The services for KAS will include:
1. Deposit and withdrawal starting at 07:00 on November 10, 2022 (UTC).
2. The trading pair KAS/USDT.
3. The opening method will be through a Call Auction, taking place from 07:00 to 09:50 on November 10, 2022 (UTC), during which time orders can be placed and canceled. From 09:50 to 10:00, orders can still be placed but cannot be canceled.
4. Actual trading will commence at 10:00 on November 10, 2022 (UTC).
For more details on the Call Auction process, please refer to CoinEx’s support page at https://support.coinex.com/hc/articles/360030975794.
In related news, KASPA is now officially listed on CoinEx, as mentioned in a recent post on Kaspa’s website. You can read more about this development at https://kaspa.org/kaspa-now-listed-on-coinex/.
Oct 27, 2022 | News
GHOSTDAG is a technology that creates a chain out of parallel blocks in the BlockDAG, providing the same security as bitcoin but with faster transaction times and higher throughput. Kaspa’s new ordering mechanism, DAGKNIGHT, further improves confirmation times by adapting to internet speeds. This was presented at the Crypto Economics Security Conference by Michael Sutton and Yonatan Sompolinsky on October 31, 2022. DAGKNIGHT is set to revolutionize proof-of-work consensus algorithms by being responsive to network latency and suitable for smart contracts. Kaspa is already equipped with many of the necessary tools to implement DAGKNIGHT. The full white paper on DAGKNIGHT can be found at [link].
Sep 28, 2022 | News
DAGs, or Directed Acyclic Graphs, are known for their incredible speed due to their ability to parallelize. Unlike traditional blockchains where only one block is considered valid, DAGs allow for multiple blocks to be created simultaneously, all of which are considered valid. This not only increases the security of the network but also removes a major hurdle to transaction throughput. However, designing DAG consensus protocols is a complex task that requires careful consideration to avoid new forms of attack.
One of the benefits of DAGs is the increased transaction throughput, as well as significantly reduced confirmation times. While it may seem that creating more blocks would lead to higher transaction throughput, it’s not always that simple. To learn more about this topic, check out Shai Deshe’s full article on Medium.
For the latest updates on DAG technology and its impact on transaction throughput, be sure to follow Kaspa’s Core Developer Series.
