Uncategorized Archives - Kaspa

KASPlex FAQ

Chad Ballantyne — Tue, 30 Apr 2024 17:02:04 +0000

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.

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WDMS 2024 Oman Recap

Chad Ballantyne — Tue, 23 Apr 2024 16:46:11 +0000

March 29, 2024

By Global AMbassador, Luke

I was honoured to represent Kaspa as a Global Ambassador at the World Digital Mining Summit (WDMS) in Muscat, Oman. This summit, organised by Bitmain, a manufacturer of ASIC miners, brought together the foremost minds in crypto mining and blockchain, marking it as one of the largest PoW mining events of the year. This year’s theme, “HYDRO-MINING WINS THE DESERT” highlighted the summit’s commitment to pioneering mining solutions in the face of environmental challenges.

Day 1: Innovation in the Digital Oasis
The WDMS prelude, “Innovation in the Digital Oasis” set the stage for keynotes, discussions, and networking in a more intimate setting. Speakers from diverse backgrounds shared their insights, including Layla Mining, Bitmain’s first ambassador, who discussed their efforts to bring mining content to the Arabic market. Wally from My First Bitcoin, a non-profit organisation in El Salvador, shared their unique Bitcoin Diploma, now an integral part of the curriculum in every public school in El Salvador, boasting over 25,000 graduates. Ting Song, an AI artist and sci-fi writer, discussed her journey as the creator of China’s first GAN-generated AI artwork sold in a traditional auction, exploring the intersection of PoW and art. Mike Michelini, representing the Handshake community, shared insights into their decentralised naming and certificate authority project where ownership of a HNS coin grants them the title of director in their community. These speakers, among others, offered rich, varied perspectives on the current and future state of PoW and blockchain technology. The day concluded with a VIP welcome reception that allowed participants to mingle and share their enthusiasm for PoW over food and drinks.

Day 2: Hydro-Mining Wins the Desert
The official launch of WDMS 2024 unfolded with an all-day event featuring a lineup of speakers and panellists from all corners of the crypto world, including representatives from the Omani government, Exahertz, BitFinex, Foundry, Luxor Technology, Antpool, and Bitmain. A highlight was the unveiling of the S21 Pro Bitmain miner, offering comprehensive details on its capabilities and pricing.

The day was also marked by a PoW award ceremony, where several projects were honoured for their contributions to the ecosystem:
Litecoin – PoW Ecosystem Development Award
Kaspa – PoW Ecosystem Potential Award
Nervos – PoW Ecosystem Application Award
Alexander Neumueller – Green Mining Academic Contribution Award
Ethereum Classic – PoW Ecosystem Contribution Award

As an Ambassador for Kaspa, receiving the PoW Ecosystem Potential Award on behalf of our community was a moment of immense pride.
The summit concluded with a magnificent buffet dinner on the grounds of the W Hotel, offering an array of delicious food and live music. It was a fitting end to a summit that brought together the minds shaping the future of digital mining and celebrated the vibrant community driving the PoW ecosystem forward.

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Kaspa Pool Addition — Kryptex a PPS+ Mining Pool

N. R. Crowningshield — Thu, 23 Feb 2023 01:25:12 +0000

Honest, stable, and predictable income.

Kryptex

Kryptex has launched a PPS+ mining pool for Kaspa.

https://pool.kryptex.com/en/kas

The more mining pools available for Kaspa miners, the better for everybody. Kryptex supports and believes in Kaspa’s technology and hopes it will further its adoption.

Reasons to mine Kaspa on the Kryptex Pool

PPS (Pay Per Share) Scheme — Kryptex pays for each valid share.
Pool fee of 1%.
There is no payout fee — Kryptex pays the transaction fee for you.
Payouts every hour — Steady income and transparent statistics.

How to connect to the pool

Start mining right now at https://pool.kryptex.com/kas
Kryptex also offers a comprehensive step-by-step tutorial

Kryptex has live support and is happy to answer questions regarding equipment, configuration, and scaling.

Tip: PPS (Pay-Per-Share) is a mining payout model where miners are paid a fixed reward for each valid share they contribute. FPPS (Full Pay-Per-Share) is a variant of PPS where miners are also paid a proportional share of transaction fees. PPLNS (Pay-Per-Last-N-Shares) is a payout model that rewards miners based on the number of shares they contributed in the last N rounds. PPS+ is a hybrid payout model that combines elements of PPS and PPLNS to provide a guaranteed payout per share.

Find me on the Kaspa discord — Bubblegum Lightning

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Kaspa Accepted Everywhere

N. R. Crowningshield — Sun, 05 Feb 2023 00:00:00 +0000

Adoption starts with you — and the merchants!

Kaspa’s goal and use-case is to become a widely used currency for everyday transactions of goods and services. To achieve this, the company has started several initiatives to make Kaspa more accessible to the general public. After first addressing the blockchain Trilemma, the next logical step is adoption, a planned natural progression for Kaspa. Merchants need a cryptocurrency that is fast, easy to use and has low fees for transactions.

Kaspa has set up a Store Directory and will add your store to their site with an approved application. In addition, Kaspa will link and push out social promotions for more exposure. If you are a merchant, please look into using Cryptocurrency Checkout and its numerous integrations made available for Kaspa transactions!

As a Kaspa Merchant, we will send you any digital assets (KASPA Accepted buttons), window stickers, point-of-sale tools, and some Kaspa for the first-to-adopt merchants to get your wallet started! Join our Discord to be ready for any announcement around this incentive.

To be listed, you need to prove that you accept Kaspa or sell Kaspa merch.

Since this is on a Kaspa site, we want to ensure the project’s reputation is not harmed or tainted.

We reserve the right not to list your product or service if, in any way, it could bring harm to anyone or taint the project.

If you want to accept Kaspa (KAS) as a currency. You can set up a Kaspa wallet or add Cryptocurrency Checkout to your site.

Tip: Kaspa has been known to be called the “Silver” of cryptocurrency. Due to silver’s relative abundance compared to gold, silver was used more frequently as a currency.

STORE DIRECTORY

APPLICATION FOR STORE LISTING

Comment below or find me on the Kaspa discord — Bubblegum Lightning

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Kaspa AMA Recap with Andrew Weiner, VP of MEXC

N. R. Crowningshield — Sat, 04 Feb 2023 00:00:00 +0000

The Silver of the Future

November 24th, 2022 — AMA hosted by MEXC VP Andrew Weiner. Not often can we get these three in the same “room,” but here they are: Yonatan Sompolinsky — Michael Sutton — Shai Wyborski.

Learn about Kaspa, the community, DAGKnight, RUST, and future goals!

Thanks to Andrew for being a classy host!

If you want to follow Andrew Weiner: @MEXC_Andrew

Tip: MEXC is the largest of the exchanges that support Kaspa and ranks 19th on CoinMarketCap’s Spot Exchange Score.

Comment below or find me on the Kaspa discord — Bubblegum Lightning

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Kaspa Mining — Miners and Pools

N. R. Crowningshield — Sat, 04 Feb 2023 00:00:00 +0000

Kaspa Mining — Miners and Pools

Kaspa is currently the fastest proof-of-work, mineable coin while remaining decentralized. The blockDAG architecture with rapid block rates allows more mining decentralization and enables effective solo mining at lower hashrates.

Data from https://miningpoolstats.stream/kaspa

KASPA MINING SOFTWARE

Mining software is a type of program used to extract cryptocurrency or other digital assets through a process called mining. The software connects to a blockchain network and performs complex mathematical calculations to validate transactions and add new blocks to the blockchain. In return, the miner can earn block rewards for securing the network.

Here are some popular miner software options from Kaspa.org.

KASPAMINER — Linux/Windows OSs and Nividia/AMD GPUs

LOLMINER — Linux/Windows OSs and Nividia/AMD GPUs

BZMINER — Linux/Windows OSs and Nividia/AMD GPUs

SRBMINER — Linux/Windows OSs and only CPUs

TEAM RED MINER — Linux/Windows OSs and only AMD GPUs

GMINER — Linux/Windows OSs and only Nvidia GPUs

KASPA MINING POOLS

Data from https://miningpoolstats.stream/kaspa

A mining pool is a group of cryptocurrency miners who combine their computing power to increase their chances of solving a cryptographic puzzle and earning a reward. In a mining pool, participating miners split the rewards proportionally according to the total computational power they contribute.

In solo mining, individual miners compete with each other to solve the puzzle and earn the reward. However, the odds of successfully solving the puzzle are low, especially with the increasing difficulty of the network. By pooling their resources, miners in a mining pool can increase their chances of successfully solving the puzzle and, as a result, earn more rewards.

Here are some popular pool options from Kaspa.org.

Information below reflects the current hashrate and fees on February 3rd, 2023

WOOLYPOOLY — First in network hashrate with 0.9% fees

ACC-POOL — Second in network hashrate with 0.8% fees

HASHPOOL — Fifth in network hashrate with 0.8% fees

KASPA-POOL — Seventh in network hashrate with 0.75% fees

GHOST-POOL — Thirteenth in network hashrate with 0% fees

KYIV KASPA POOL — Seventeenth in network hashrate with 0.25% fees

MINING RESOURCES

Information and tools related to Kaspa Mining.

PROFIT CALCULATOR

KASPA MINING WIKI RESOURCE

GPU HASHRATE GUIDE

EMISSION SCHEDULE

Tip: WoolyPooly has the largest hashrate share in the Kaspa pools. Consider mining other pools to keep Kaspa decentralized and distribute the network’s hashrate.

Comment below or find me on the Kaspa discord — Bubblegum Lightning

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Core Developer Series: Transaction Collisions and the Effective TPS of Inclusive BlockDAGs

Chad Ballantyne — Wed, 28 Sep 2022 13:48:37 +0000

What makes DAGs incredibly fast is the ability to parallelize: since blocks made in parallel are all considered valid (unlike in blockchains where all but one of them will be eventually orphaned), increasing parallel block rates does not harm security, thus removing a major obstacle to throughput (but one should be extremely careful not to enable new forms of attack, which is essentially what makes DAG consensus protocols so difficult to design).

One of the supposed benefits of the increased block-rates is the increased transaction throughput (another benefit, which I argue is actually the more significant one, is the greatly decreased confirmation times). On the surface it seems that if we make 600 blocks for every Bitcoin block then our transaction throughput is 600 times that of Bitcoins, but is it the case? Well, not quite…to find out more read Shai Deshe’s full article in it’s entirety here: https://medium.com/@shai.wyborski/transaction-collisions-and-the-effective-tps-of-inclusive-blockdags-20bdd6c60695

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Kaspa Trading schedule on MEXC Released!

Chad Ballantyne — Mon, 26 Sep 2022 01:21:01 +0000

We are pleased to announce that the Kaspa implementation to be listed on MEXC Global has been completed. Kaspa trading will begin on 9/27/22 at 15:00 UTC at https://www.mexc.com, the Kaspa community can sign up for MEXC by utilizing our affiliate link which gives users 10% back on trading commissions: https://www.mexc.com/en-US/register?inviteCode=mexc-kaspa (Referral Code: MEXC-KASPA). In addition to the listing, MEXC and Kaspa will also be hosting a “MEXC M-Day” marketing event. The M-Day listing event is held exclusively for all users of MEXC to participate in and includes Kaspa coin airdrops totaling 3,570,000 KAS. This is a special M-Day event exclusively for futures trading, and all MEXC users who meet the future trading requirements can earn free project coins. The M-Day event will kick-off 9/26/2022 at 8:00 UTC, and conclude 9/27/2022 at 8:00 UTC. During the trading round period, users who trade the USDT-M futures (any pairs) on MEXC with minimum futures trading volumes of 10,000 USDT will be eligible for the lucky draw. The larger the trading volume, the more tickets the user can claim. More details can be viewed at https://www.mexc.com/mday

Detailed Kaspa M-Day and Listing Dates/Times:

M-Day Trading Round time: 2022-09-26 08:00 to 2022-09-27 08:00 (UTC)
M-Day Ticket-claim time: 2022-09-26 21:00 to 2022-09-27 08:00 (UTC)
M-Day Draw results released time: 2022-09-27 10:00 (UTC)
Kaspa Deposit & Withdrawal open time：2022-09-27 10:00 (UTC)
M-Day Kaspa Airdrop: 2022-09-27 10:30 (UTC)
Kaspa Listing/Trading time: 2022-09-27 15:00 (UTC)

We would like to again thank our strong and committed community for making this listing possible through their generous donations. We’d also like to thank everyone for their continued patience as the Kaspa and MEXC team worked through the implementation.

Kaspa is the fastest, open-source, decentralized & fully scalable Layer-1 digital asset in the world, utilizing the world’s first blockDAG- a digital ledger enabling parallel blocks and instant transaction confirmation. Kaspa, with rapid single-second block intervals, solves the speed, scalability and security trade-off which currently limits the usage of digital assets. Built by industry pioneers, led by the people. For more information, please visit our website at www.kaspa.org or contact-us at a@kaspa.org.

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