Kaspa (KAS): Decentralized Layer-1 Blockchain Powered by GHOSTDAG Protocol, Successfully Launches on HotsCoin

Kaspa (KAS): Decentralized Layer-1 Blockchain Powered by GHOSTDAG Protocol, Successfully Launches on HotsCoin

On November 20th, Kaspa (KAS) officially debuted on HotsCoin. Kaspa is a decentralized and fully scalable Layer-1 blockchain based on the GHOSTDAG protocol. Currently, KAS is available for trading on the HotsCoin platform.

1. Project Overview
Kaspa is a decentralized and fully scalable Layer-1 blockchain utilizing the GHOSTDAG protocol. HotsCoin recognizes that, in contrast to traditional blockchains, the GHOSTDAG protocol allows blocks to coexist and be sorted in a consensus-driven manner. The project, launched in November 2021, adopts the GHOSTDAG protocol to enhance network performance and theoretically supports smart contract development.

2. Token Information
- Circulating Supply: 21,594,836,850.377 KAS
- Total Supply: 21,594,836,694.814 KAS
- Circulating Market Cap: $3,112,559,170.991
- Fully Diluted Market Cap: $4,136,657,703.25

3. Technological Innovation and Team
HotsCoin notes that Kaspa employs the GHOSTDAG protocol to ensure network security while boosting performance. The project showcases technical innovation, led by core developers whose expertise is acknowledged, with published papers referenced in the Ethereum whitepaper. Kaspa operates entirely as a community-driven initiative, with no involvement from investment institutions, and its tokens are generated through Proof-of-Work (POW) mining.

4. Future Development and Risks
In a risk-neutral scenario, the Fully Diluted Valuation (FDV) is expected to reach $15-40 billion within two years, presenting a growth potential of 1-4 times. Potential risks include unforeseen delays in technical development, smart contract delays or failures, and stagnation in ecosystem development.

Development Roadmap
1. RUST Rewrite
HotsCoin observes that Kaspa, initially developed in GoLang, is currently undergoing a rewrite in the RUST language. This aims to enhance overall performance, allowing the processing of over 10 blocks per second. The completion is planned for mid-2022.

2. Upgrade to DAGKNIGHT Protocol
Yonatan and Michael Sutton propose the DAGKNIGHT protocol to further enhance performance and security. The development is planned to follow the RUST rewrite.

3. Mobile Wallet Development
Kaspa already has web, desktop, and command-line interface wallets, with a current focus on developing wallets for mobile devices.

4. Smart Contracts
Smart contract development is planned following the DAGKNIGHT upgrade.

Funding
HotsCoin notes that project founder Yonatan established DAG Labs in 2018, securing $8 million in funding, which was dissolved due to technological immaturity. Kaspa, on the other hand, did not secure external funding and obtained KAS tokens through fair mining.

Conclusion
Kaspa, with its adoption of decentralization, scalability, and the GHOSTDAG protocol, has garnered attention in the blockchain space. The team exhibits strong technical capabilities, with clear development plans, particularly in performance enhancement and protocol upgrades. However, the project should remain vigilant against technical risks and market competition, ensuring that development progresses as planned and actively expanding its ecosystem.

HotsCoin will continue monitoring the project ecosystem. (Report Writing Date: November 2023) The information in this report is for reference only and does not constitute investment advice. Investors are advised to thoroughly understand the relevant project and risks and seek professional opinions if necessary.