Last month with the introduction of Kaspa Ecosystem Foundation and its first official project, KASPlex, we had lots of questions raised and so a channel was opened up to collect a list. The KASPlex team have graciously answered many and the rest will be addressed in the upcoming White Paper. If you have any questions please send a DM to their X Channel
Kasplex and KEF are entities independent of Kaspa core project. This information is provided here for ease of access
This was written by Khris, the Project Manager for Kasplex with support from their core developer.
Kasplex is a non-profit organization that focuses on making it easy for developers, artists, and influencers to launch projects on Kaspa. Our project consists of 3 parts:
Protocol: The rules on how to insert data onto the Kaspa blockchain. These rules are also used to implement KRC20 and KRC721.
Indexer: An open-source project that scans every block and extracts the data inserted following the rules specified by the Kasplex Protocol.
APIs: For users who do not run a full node, they can easily query their assets.
Click on questions to see answers
How will inscriptions be embedded onto Kaspa? I.e., will an inscription embed the smallest denomination of KAS?
The technical details will be explained in the whitepaper. Inscription data is embedded onto Kaspa, and everyone can check it by scanning the blocks. We also provide an open-source indexer that has already implemented the scanning and transcoding of inscriptions.
Will inscriptions and KR20 tokens be embedded on-chain or on layer 2s only?
KRC20 is inscribed on-chain, but for KRC721(NFTs), users should upload their NFT metadata to an IPFS. Kasplex is also an infrastructure for some Layer2 solutions.
How do KAS inscriptions and KR20 differ from Bitcoin and Ethereum inscriptions and their token standards?
The Ordinals protocol uses a logical ordering system to give each individual Satoshi a unique number and link with some data created by taproot spend transaction. The BRC-20 tokens simply insert a JSON data into ordinal inscriptions to enable people to deploy, mint, and transfer tokens. In most cases, people create the smallest amount of Satoshi in a UTXO, to save the inscription. That is the reason why it is very easy to mistakenly spend the inscription as a regular transaction, and cause UTXOs bloat.
We do not adopt the method like logic ordering system or color coin. For example, when you create an “inscribe-transfer” inscription, you do not care which Satoshi is linked to, because the receiver is always yourself. You only care about the total balance、available balance, and transferable balance, which are provided by the BRC-20 rather than the Ordinals Indexer.
What is the value of an inscription - where does the value come from?
Inscription is a way to issue assets, implemented by inserting data onto the blockchain. It is the best practice for users to experience Kaspa’s leading technology. Some Layer2 Rollup solutions also require writing data back to Layer1 for security and truth. With Kasplex, it is possible to migrate some BTC Layer2 solution to Kaspa.
If inscriptions are embedded within Sompis (the smallest unit of KAS), what will the smallest unit of KAS represent? For example, the smallest unit of BTC represents 0.00000001 of BTC.
There is no connection between Sompis(now named “dwork”) and inscription. We do not adopt methods like logical ordering system or colored coin as it would introduce an extra indexer (like Ordinals Indexer in Bitcoin)
Will inscriptions and KR20 tokens allow for the creation and implementation of NFTs (otherwise known as ordinals on Bitcoin) and Defi on Kaspa?
Yes, it is possible to create NFTs using Kasplex Protocol, but it is different from Ordinals NFTs. As Kaspa does not support Taproot and Segwit, and the storage is very limited, Therefore, picture assets should be stored in the IPFS, which is similar to ERC721
Will users be able to identify and seek Sompis's rarity attributes? For example, Bitcoin users seek rare ordinals?
No, please see the answer to question 5.
Will Kasplex design and create a marketplace and wallet support for inscriptions?
We will not create our own marketplace, but we will provide a standard and some examples for decentralized inscription trading marketplace.
How will KR20 tokens be stored within a user’s wallet?
There is no need for additional support from the wallet. Users can query there KRC20 balance via Kasplex APIs, and wallet developers can also integrate in our APIs or deploy their own indexer to display KRC20 assets in their wallet.
How will inscriptions and KR20 tokens impact Kaspa miner revenue and participation in securing the network?
Kasplex is a non-profit project, we do not charge any fees. Users need to pay additional gas fees for token deployment or minting, which can reduce unnecessary data and increase miners’ income.
Stay tuned for Kaspa AMAs (XSpaces) and news on Roadmap and Closed Beta Release.