Kaspa

Today, we are delighted to share a summary of an AMA session with our friends from the Kaspa team that occurred on March 30, 2023. Our guest was Ben, a contributor of KAS. In this AMA recap, we will attempt to summarize some of the most intriguing points for you.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/2b6afa0e68f64880a092bde9ba3b3389.png" /><h4>Part 1: Opening</h4>Levi BYDFi: Hey everyone! Welcome to our AMA with the KAS team.We&#39;re excited to have you all here today!Our mission is to provide the best trading platform for our users by partnering with top blockchain projects.And we couldn&#39;t have done it without the help of Kaspa team, the guest of today’s AMA guest! So, Ben. Maybe you can introduce a bit about yourself and a brief overview of Kaspa.Ben KASPA: Hey guys, this is Ben from the Kaspa community. I joined the Kaspa community since the early days and contributed some code to several sub projects of Kaspa. And I helped to organize several telegram user groups, they are growing fast. Glad to be here.Levi BYDFi: Nice! If anyone wants to learn more about KAS, check out their official site at <a href="https://kaspa.org/" rel="noopener noreferrer nofollow">https://kaspa.org/</a> or join their Telegram group at <a href="https://t.me/Kaspaenglish" rel="noopener noreferrer nofollow">https://t.me/Kaspaenglish</a>. They&#39;ve got an incredible community to chat with. Don&#39;t miss out on the fun!Let&#39;s get this AMA started!<h4>Part 2: BYDFi with KAS</h4>Levi BYDFi: Let&#39;s get this AMA started! Ask away and Ben, the contributor for KAS, will answer your questions about the project and its latest developments.Q1. Can you give us a brief overview of what KAS is and what problem it aims to solve in the crypto world?Ben KASPA: Sure, Kaspa is a proof of work cryptocurrency which implements the PHANTOM GHOSTDAG protocol. People believe Bitcoin is the digital gold for value storage. And many projects claimed they will be digital silver for daily usage but they have never achieved due to the blockchain trilemma. (decentralization, security, and speed). aspa solved the problem and it’s the only proof of work project that can scale confirmation times with network latency while staying on NAKAMOTO CONSENSUS. And finally something that can work as digital silver.Levi BYDFi: Got it, so Kaspa is a POW project and token.Ben KASPA: Well, we call it a native coin instead of token, but people use them both sometime. :) And yes, it’s a pure PoW project.Q2. What are the core values and principles that guide KAS’s mission and vision?Ben KASPA: Great question. Kaspa is a community project, open sourced, no central governance, no biz model. Just like the Bitcoin, Litecoin, Monero and Grid. The mainnet was launched with no premint or any other preallocation of coins. It’s by the people and for the people. The people means the core creators, community members, miners, traders, those who use Kaspa in p2p payment and everyone potentially involved. There’s a very informative post from Yonatan on medium, please do check it out. <a href="https://hashdag.medium.com/in-which-i-run-with-the-ghosts-of-my-hometown-95ad503c88c" rel="noopener noreferrer nofollow">https://hashdag.medium.com/in-which-i-run-with-the-ghosts-of-my-hometown-95ad503c88c</a>.Levi BYDFi: Sure, please check it out if you are intersted in learning more about Kaspa’s value!Q3. What’s your suggestion for people if they want to start buying KAS coins?Ben KASPA: Well, there’re basically two way to get $kas. If you are a miner, you can always mine with GPUs and FPGAs. If not, you can go to around 10 exchanges to buy it. Most people will do both afaik. Glad it’s listed on BYDFi more people will get $kas easier from it, I believe. The hashrate has been growing very fast in the past year, mining will need some efforts. But all those miners do help to protect the network of Kaspa and it’s fully decenralized.Q4. How does the KASPA blockchain technology ensure greater scalability and faster transaction speeds compared to other blockchain?Ben KASPA: Firstly, the PHANTOM GHOSTDAG protocol allows blocks to be generated in parallel and at very high speed. (1 block per second and will become 32 block per second after the rust rewrite). Instead of a chain as typical crypto projects, Kaspa organizes blocks in DAG which allows the whole network to handle higher volumes of transactions. There’s a visualization tool on<a href="https://kgi.kaspad.net/" rel="noopener noreferrer nofollow"> https://kgi.kaspad.net/</a> ,it’s based on real time production data of the network. Check it out, it’s fun. The difference is like a highway with multiple lanes allowing higher speed versus a country road full of mud. Further than that, there’s a new paper from Michael and Yonatan (the core creator) which is an amazing upgrade for the PHANTOM GHOSTDAG protocol. They call it DAGKnight protocol, which will ignore the network condition to make the whole block dag even faster and scalable. You can find the paper at <a href="https://eprint.iacr.org/2022/1494.pdf" rel="noopener noreferrer nofollow">https://eprint.iacr.org/2022/1494.pdf</a>Q5. What kind of partnerships has KASPA secured so far, and how do these partnerships contribute to the growth and adoption of the KASPA network?Ben KASPA: Great question. So many partnerships have been established since the launch. Firstly, there are about 25 mining pools provided mining services to miners. And about 30% of GPUs in the mining world are mining Kaspa according to HiveOS. This is the best way to decentralize $kas to the world. And Kaspa has been listed on many exchanges including BYDFi, so people could trade $kas easily. Both of them help the decentralization of the project. There are many other partnerships going on. The most interesting one will be online and even offline payment with Kaspa. There are several vendors accepting $kas and recently a hotel in Istanbul started to accept $kas from their guests. The community members are trying bring more cases into the project. So a lot will happen in the coming years I believe.Levi BYDFi: That’s impressive!Ben KASPA: It’s the real cocreation by the people. We even have a Kaspa rap from a community member. A link to the author <a href="https://twitter.com/sknkh42/status/1640368725307039744?s&#61;61&amp;t&#61;58TY0TELfoDFNfNdQUNFSw" rel="noopener noreferrer nofollow">https://twitter.com/sknkh42/status/1640368725307039744?s&#61;61&amp;t&#61;58TY0TELfoDFNfNdQUNFSw</a>Levi BYDFi: Looks like Kaspa is built by community! Alright, Let’s the end of the first AMA section. BTW, folks, there is an easy quiz towards the end of the AMA. Please do your best to learn more about Kaspa, and get a chance of winning 10K KAS!<h4>Part 3: Community Questions</h4><ol><li>&#64;Yonom2021 :What is the GHOSTDAG protocol and how is Kaspa using it in its consensus mechanism?</li></ol>Ben KASPA: Great question, according to Yonatan’s post, there’s never a solution but tradeoff to what the project want to achieve, the better version NAKAMOTO CONSENSUS. GHOSTDAG allows block to be created in parallel, k is the number of parallel, if k &#61; 0, it’s just the same as Bitcoin. Recommend to read the post by Yonatan about GHOST, <a href="https://hashdag.medium.com/in-which-i-run-with-the-ghosts-of-my-hometown-95ad503c88c" rel="noopener noreferrer nofollow">https://hashdag.medium.com/in-which-i-run-with-the-ghosts-of-my-hometown-95ad503c88c</a> . Something fun about GHOST, <img src="https://academy-public.coinmarketcap.com/optimized-uploads/aef49b7818814d86b5faa9780984f43e.jpeg" />Vitalik the creator of ETH actually referred to GHOST in his papers and many other writing. It is said tens of major blockchain projects referenced Yonatan’s papers in their whitepapers. Quote from Yonatan, DAG is not the solution but the problem to solve. And Kaspa solved it decently.<ol><li>&#64;selsjr : what makes kaspa to choose proof-of-work consensus engine?</li></ol>Ben KASPA: I like this question, because I’m a miner. Proof of Work has the DNA of fairness, it’s decentralized natively. Unlike Proof of Staking, there’s no way to manipulate the network by some owners easily. The nodes of a PoW network are controlled by different operators around the world. Just bitcoin, there are about 4200 nodes, in Kaspa network I believe there’re 10 thousand nodes because it’s lighter and easy to initialized. And everybody with some GPUs can mine to their nodes, even with 700T of hashrate. A 4090 still has decent amount of rewards by solo. I think fairness is one of the core values of the project.<ol><li>&#64;kinkyrikk : What&#39;s your vision for the KASPA project and can it survive the bear market?</li></ol>Ben KASPA: Sure, Kaspa aims to be the digital silver for daily usage. And there are vendors online/offline accepting $kas. It’s one of the greatest achievements in the crypto world. In terms of bear market, a crypto bubble chart will answer the question.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6d9f413ccec34ff4bd1236f710411e4e.jpeg" />I believe so, the more usage the more valuable if it’s a digital silver. It’s amazing in the bear market $kas just keeps growing stronger steadily. Not only the price but the community as well. Yep, IMHO, they should log(growth) to make the kaspa bubble smaller.  :)<ol><li>&#64;goklasmiracle: Does Kaspa have resources to fund operations and development during a bear market for one to two years in the worst case?</li></ol>Ben KASPA: Good question, there’s no company behind the project. But DAGlabs did several years of work to make it happen with some fund from Polychain. They don’t have any premine coins and they just mined as everybody with their rigs. In the early days, there’s a small devfund hardcoded in the community miner. So it helps to reward the contributors like monthly. Almost all of the applications (wallet, explorers ) nowaday were developed in that way. There were bigger piece of projects like rust rewrite and DAGKnight protocol implement. It’s funded by community pledge. It’s not a small deal nowaday due to the price of kaspa, people donate a huge amount of their fund to the community dev fund to make things happen. I don’t feel the bear market exist in Kaspa community. People are just willing to help and contribute.<ol><li>&#64;mhmdyvsvf : What is the process for acquiring and storing Kaspa currency, and what wallet options are available for users to securely store their KAS?</li></ol>Ben KASPA: Sure, I think the easiest way to store their $kas is just keep it in the exchange wallet. But most people in the community prefer to use the Kaspa Wallet so they can have the full control on the fund. For a Kaspa-wallet you can use one of these applicationsWeb wallet:<a href="https://wallet.kaspanet.io/" rel="noopener noreferrer nofollow">https://wallet.kaspanet.io/</a>Kaspad (command line wallet):go to githubKaspa for desktop (KDX):<a href="https://kdx.app/" rel="noopener noreferrer nofollow">https://kdx.app/</a>Chainge:<a href="https://www.chainge.finance/" rel="noopener noreferrer nofollow">https://www.chainge.finance/</a>Tangem COMING SOON:<a href="https://tangem.com/" rel="noopener noreferrer nofollow">https://tangem.com/</a>Telegram wallet:Talk to &#64;kaspanet_bot with /create_wallet commandThis wallet is just for fun / demonstration.<h4>Part 4: Q&amp;A</h4><h3 id="1k-kas-for-each-winner-with-a-total-10-winners">1k $KAS for each winner, with a total 10 winners</h3><ol><li>Kaspa is a ____ project ?Layer 1 Layer 2 GameFi NFT </li><li>What can’t people do in the Kaspa ecosystem?Staking Mining Use Kaspa Wallet </li><li>Kaspa is a ___ crypto.POS POW P2E </li><li>Which statement describes most accurately about Kaspa?People can’t mine KAS KAS can gained from staking People can buy KAS or mine KAS </li><li>Where can people buy $KAS?Wallmart IKEA BYDFi </li></ol>Levi BYDFi: Alright guys. Thanks for attending today’s AMA with Kaspa $KAS. Thanks &#64;benrod3k for your informative answers and help!

BYDFi x KASPA AMA Recap (2023/04/06)

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