Kaspa is a proof-of-work blockchain built using the GhostDAG protocol. Since being launched in 2021, Kaspa has climbed into the top 100 cryptocurrencies by market cap. In theory, Kaspa is similar to Bitcoin in that it utilises a deflationary currency with limited supply and a mining-based consensus mechanism.
A common complaint with proof-of-work blockchains is their limited scalability – something that Kaspa addresses by processing up to 10 blocks per second, with plans to increase this figure to 100.
KASPA is Kaspa’s native token which underpins the network. It can be used to pay for transaction fees on the blockchain and to reward miners for their work securing the protocol.