Deep Dive
1. Purpose and design
Kaspa aims to make proof of work practical for faster transactions. A blockDAG, or directed acyclic graph of blocks, lets blocks created around the same time coexist. Its GHOSTDAG protocol orders those blocks so the network can agree on transactions, rather than discarding all but one competing block. After the Crescendo upgrade in May 2025, the network’s target rose to 10 blocks per second. (CoinMarketCap overview)
Kaspa launched on November 7, 2021, without a premine or presale; KAS entered circulation through mining. (Kaspa anniversary report)
2. KAS and network features
KAS is the native asset of the Kaspa network—not a token issued on another blockchain. Users can transfer it, pay network fees, and miners earn it for helping secure the network.
Kaspa’s Toccata upgrade activated on June 30, 2026, adding covenants: rules that can set conditions for how coins are spent. This gives developers a way to build programmable applications on Kaspa’s base layer. It is a different approach from the virtual machine model used by some smart contract chains. (CoinMarketCap on Toccata)
Conclusion
Kaspa is a proof of work network built for faster block processing, with KAS powering transfers and fees and covenants enabling more complex uses. How much will developers build around its programmable spending rules?
