Launched in 2021 by Yonatan Sompolinsky—an academic researcher whose earlier work was cited in the Ethereum whitepaper—Kaspa (KAS) is a Proof-of-Work cryptocurrency designed to solve the "trilemma" of scalability, security, and decentralization. Unlike traditional blockchains that link blocks in a single linear chain, Kaspa utilizes a BlockDAG (Directed Acyclic Graph) architecture powered by the GHOSTDAG protocol. This structure allows blocks to be created in parallel rather than sequentially, enabling the network to achieve incredibly fast block times (currently one second) and instant transaction confirmation without sacrificing the security associated with Bitcoin-style mining. Distinguished by its "fair launch"—meaning there was no ICO, pre-mine, or venture capital allocation—the native KAS token is used to pay for transaction fees and reward miners who secure the high-speed network.
