Feb 14, 2023 | News
On Friday, February 17th at 6:00 PM EST, @BubblegumLtng will be hosting a Kaspa Twitter Space event. This unofficial gathering, organized by community contributors @Kaspa_HypeMan and @BubblegumLtng, aims to provide an overview of Kaspa through an interview-style format in the first half, followed by a Q&A session with the audience.
Attendees should note that the hosts are not part of the Kaspa development team and are not heavily involved in technical coding. However, developers and coders from the audience will be available to help answer any technical questions.
The Twitter Space event is expected to last about an hour and marks the first of its kind for Kaspa Currency. Those interested in learning more about Kaspa can also visit their website at kaspa.org, read articles on Medium, join discussions on Discord and Telegram, follow updates on Twitter and Teletype, and explore their Reddit and GitHub pages. The Kaspa explorer can also be accessed for more in-depth information.
If you have any questions or comments, feel free to reach out, and make sure to join the Kaspa community on Discord to connect with Bubblegum Lightning. For more details on this event, you can check out the original post on Kaspa’s website.
Feb 13, 2023 | News
Attacking a moving target is hard, and it’s even harder when it’s moving quickly. This is the challenge that cryptocurrency traders face, particularly those who trade frequently throughout the day. They’re all too familiar with the risks of decentralized cryptocurrencies, such as the threat of front-running.
Front-running is when someone exploits a slow consensus system to manipulate or replace a transaction. In decentralized systems, transactions are visible to everyone before they’re processed, which can take up to 15 seconds on platforms like Ethereum. During this time, internet bots can potentially tamper with or replace the transaction. This is often due to leader-based consensus, where a designated leader coordinates the process, but can be slow and create opportunities for front-running.
One specific type of attack is the “sandwich attack,” where a bad actor takes advantage of both front-running and back-running a transaction during this slow process. The attacker inserts themselves between the sender and receiver, relaying communication to access sensitive information or manipulate it. They aim to place two orders around the pending transaction to affect the asset’s prices.
For example, imagine you’re an attacker in a busy deli. You see someone ordering a sandwich, so you quickly order the same sandwich with extra ingredients to make it more expensive. As the deli prepares your order, you step away, leaving the original customer with either no sandwich or a more expensive one.
To prevent such attacks, we need a mechanism that bypasses the mempool and allows transactions to be secretly sent to a single operator without exposing them to the entire network beforehand. Network speed is also crucial for security, as it reduces the opportunity window for front-running and other attacks.
Kaspa is tackling this issue with its asynchronous consensus/parallel consensus. With a rewrite in Rustlang, aiming for 32 blocks per second and hoping to reach 100 BPS, transactions could be processed in under a second before being propagated to the network. This would make cryptocurrency trading more secure and reliable.
Speed isn’t just a nice feature; it’s essential for the sustainability and security of decentralized proof of work chains. Kaspa’s focus on speed gives it an edge in ensuring security for its users.
Special thanks to Discord user @ZEPP8S for the concept and sharing relevant resources. Remember, the ‘sandwich attack’ is just one of several front-running attacks others should be aware of.
For more information on Kaspa, you can follow them on various platforms including Twitter, Medium, Discord, Telegram, Reddit, GitHub, and their Explorer. The original post “Kaspa: Speed = Security” can be found on Kaspa’s website.
Feb 12, 2023 | News
Kaspa has launched a new app called the Kaspa Transaction Report, which allows users to easily generate a CSV file of their transaction history for reporting and tax purposes. The app is user-friendly and can be accessed at https://kaspa-transaction-report-coderofstuff.vercel.app/.
The Kaspa Transaction Report was created by coderofstuff and is currently in its alpha phase, meaning there are no service level agreements in place at this time. Users can add their Kaspa addresses, one per line, to generate their transaction history CSV.
To use the app, users need to have NodeJS (v16+) installed on their computer. They can then download the repository, install dependencies, create a file with their Kaspa addresses, and run the command to generate the CSV file. The CSV file is currently compatible with Koinly, a tax filing software.
It’s important to note that compound transactions and transactions sending to yourself are ignored, and addresses from exchanges are treated as not your own. If the report is inaccurate, users should make sure they have listed all relevant addresses.
The creators of the app encourage users who find it useful to consider donating to the Kaspa address listed on their GitHub page. The CSV report is designed to be easily imported into koinly.io for filing taxes.
For more information and updates, users can visit Kaspa’s official website, Discord, Telegram, Twitter, Reddit, GitHub, and Explorer. Users can also reach out to the creator on the Kaspa Discord under the username Bubblegum Lightning.
The original article about the Kaspa Transaction Report can be found on Kaspa’s website.
Feb 12, 2023 | News
Kaspa, a cryptocurrency similar to Bitcoin, uses a method called unspent transaction outputs or UTXOs. Unlike other blockchains like Ethereum and Tron, which use accounts, Kaspa’s system is more secure and transparent.
In a UTXO-based blockchain, transactions are made up of inputs and outputs, rather than accounts or wallets. This method, first introduced in Bitcoin’s whitepaper, records coins as a list of unspent outputs.
When making a transaction on Kaspa, you use existing UTXOs and create new ones. For example, if you need to pay for something that costs 200 KAS and you have a UTXO worth 500 KAS, the full amount is sent to the recipient. The protocol then sends the remaining 300 KAS back to your address as a new, smaller UTXO.
Currently, the transaction fee on Kaspa is 0.0001 Kas per UTXO. For more information on Kaspa, you can visit their website or join their Discord, Telegram, Twitter, Reddit, Github, or Explorer.
Feb 11, 2023 | News
The latest developments in Kaspa’s technology have been making waves in the cryptocurrency community. The research paper on DAGKnight, a new consensus mechanism, has been published and is expected to improve transaction speeds and security. The upgrade to this new protocol is currently being funded and developed.
Additionally, Kaspa’s programming language is being rewritten from Golang to Rust, which is expected to increase performance and allow for better utilization of modern computing hardware. This rewrite is part of Kaspa’s goal to reach 100 blocks per second.
A mobile wallet is also in the testing phase, providing a high-performance option for users on the go. This will complement the existing web, desktop, and command-line interface wallet options.
In other news, development has begun on integrating Kaspa with Ledger, a popular hardware wallet platform. This will provide users with a secure way to store their Kaspa currency.
Furthermore, an official white paper is being planned for release, which will combine Kaspa’s past research and current goals into a comprehensive document. Archival node improvements are also in development, allowing for better access to historical data sets.
Lastly, Kaspa is planning to implement smart contracts and aims to become the fastest, most scalable, and most secure Layer-1 PoW cryptocurrency. With a strong foundation and community support, Kaspa is poised for success in the future.
For more information and updates, visit Kaspa’s official website and social media channels.
Feb 8, 2023 | News
When the rewards for mining Kaspa blocks come to an end, the transaction fees will become the new source of income for miners. This was announced in a recent post published on February 8th, 2022, along with the full emission schedule.
The end of blockchain emissions, also known as the stop in the production of new tokens or coins, can occur for various reasons. In Kaspa’s case, it’s because the blockchain has reached its maximum supply limit specified in its code. This means that miners will have to look for other ways to earn rewards, such as through transaction fees.
Kaspa’s consensus mechanism is designed to last, with no plans to switch to a different method. Even after emissions end, miners will still be needed to secure the network and will be rewarded with transaction fees for their services.
The Kaspa blockchain has a maximum block reward that will be equivalent to a specific value calculated by a formula, which takes into account the block production rate and transaction fees. This value will be reached by the end of the 14th year of Kaspa emission.
For those who are curious about how these numbers are calculated, the post provides a detailed breakdown. It explains that the maximum single-block reward in Kaspa is determined by factors such as the transaction fee, the number of unspent transaction outputs (UTXOs), the number of transactions, and the block production rate.
In summary, when Kaspa reaches the end of emissions, miners will be rewarded with transaction fees according to a specific formula since block rewards will no longer exist. For further information, interested parties can visit Kaspa’s GitHub page.
For more updates and discussions, readers can find Kaspa on various social media platforms such as Discord, Telegram, Twitter, Reddit, and GitHub. Additionally, they can explore the blockchain using Kaspa’s explorer.
The original post titled “To the Ends of the Emissions” can be found on Kaspa’s website.
