Kaspa

Kaspa (KAS) is a proof-of-work cryptocurrency organized as a blockDAG, a graph of blocks rather than one linear chain. The network began in November 2021 without any coins set aside in advance for insiders. The community runs the project, and the network produces ten blocks each second.

Its consensus protocol is GHOSTDAG. The project cites a fifty percent security threshold and a fast block rate that it links to decentralization. It also names smart contract development through based-rollups among its features.

The software includes Reachability for querying the DAG topology, pruning of old block data, SPV proofs and planned subnetwork support meant to simplify future layer-2 designs.

The genesis proof walks backward through pruning-point block hashes to the first block and confirms that the UTXO commitment there is empty. Hashes of Bitcoin blocks placed in the opening block's coinbase transaction serve as time markers, so a hidden premine is excluded.