For quite some time now, an innovative blockchain project has been on the rise, with major cryptocurrency investors backing it to have a successful run in the new year. What is this cryptocurrency project?

It is Kaspa. Kaspa employs the GHOSTDAG protocol, a proof-of-work consensus mechanism that allows blocks created in parallel to coexist and be ordered in consensus, eliminating the concept of orphan blocks. Due to internet latency, this protocol maintains high block rates and short confirmation times while allowing for secure operation. The network’s fast block rate decreases the variance of mining income, promoting mining decentralization and leading to a secure and robust network.

The Kaspa project takes inspiration from Satoshi Nakamoto and aims to maintain key elements of the Bitcoin (BTC) consensus, namely, proof-of-work mining, deflationary monetary policy, and decentralized governance. 

There is more to Kaspa, but first, let’s understand Kaspa and its technology.

Kaspa And It’s Technology 

Kaspa is a decentralized, open-source cryptocurrency and Layer-1 blockchain solution created to solve three major blockchain problems.   It solves that problem by offering a balance of security, scalability, and decentralization. It operates using a proof-of-work (PoW) consensus mechanism. While this mechanism is identical to Bitcoin’s, it differs in terms of the novel ledger architecture it introduces, known as blockDAG (Block Directed Acyclic Graph).

Kaspa’s primary goal is to develop a platform for instant transaction confirmations and high scalability while still providing a secure and decentralized platform. Kaspa goes about this through its unique blockDAG structure, which allows multiple blocks to be added to the network in parallel. Kaspa’s blockDAG will enable users and investors to transact at a higher volume by linking blocks in a directed acyclic graph format. This is an improvement on the mechanism of traditional blockchains, where one block follows another in a linear model. 

Currently operating at one block per second, Kaspa’s goal is to achieve even higher rates of 10 or even 100 blocks per second. This scalability potential sets Kaspa apart from many other blockchain networks. With some of the features on offer, KASPA stands as one of the market’s most robust and usable blockchain networks.

These include reachability, which allows users to query the DAG’s topology; block data pruning to reduce storage requirements; and simple payment verification (SPV) proofs that verify transaction validity without downloading the entire blockchain.

The project also comes with subnetwork support that allows for the implementation of layer 2 solutions, ensuring enhanced functionality and scalability. Another notable aspect of Kaspa is its unique monetary policy. The 12-note music scale served as inspiration for the project’s implementation of a geometric emission reduction over time.

This policy also called the chromatic phase, decreases block rewards in a way that tallies with the frequencies of consecutive semitones in a tempered chromatic scale. The initial block reward is set at the frequency of the note A4, and the reward halves once every year. 

Kaspa’s ecosystem also comes with a unique token called the KAS Token. This token is an essential part of the network’s operations, as it serves as the currency for all on-chain transactions carried out. Mining rewards in the KAS ecosystem are given out using KAS tokens. This way,  participants are encouraged to further contribute to the network’s security and overall functionality. KAS serves as the driving force behind transaction execution, smart contract operations, and interactions with decentralized applications (dApps).

Exchanges to Buy and Trade Kaspa

Several cryptocurrency exchanges support Kaspa and allow their users to trade it. While there are many platforms, a few stand out due to how much trading volume they permit, their user base, and other Kaspa-specific features. 

KuCoin: Kucoin is a cryptocurrency exchange with over 700 digital assets for traders to choose from and trade. This offering of theirs has led to them becoming a popular spot for buying Kaspa (KAS) amongst crypto traders and investors. 

KuCoin,  as part of its wide array of offers, presents its users with a range of investment products. This exchange is quite popular amongst traders and investors due to its support of the KAS/USDT trading pair, one of the most common pairs for trading Kaspa.

CoinEx: Aside from being popular for its low fees, CoinEx is also renowned for the access it grants its users to trade over 500 cryptocurrencies, all at a meager trading fee of 0.2%. It is also popular due to the advanced features it supports, such as margin and futures trading, which is the sweet spot for experienced investors. On CoinEx, you can trade the KAS/USDT, and as part of their security measures, you will need to complete your KYC verification should you want to make withdrawals that are above $10,000

MEXC Global: This is another top exchange by trading volume for Kaspa. Established in 2018, MEXC Global offers support for more than 1000 pairs and has good liquidity. MEXC Global is available in over 170 countries, although it has certain restrictions for US citizens regarding its KYC procedures. MEXC Global provides you with many choices, ranging from trading options such as margin trading, futures, ETFs, and P2P transactions.

Coinone:  Coinone appeals to Asian investors, particularly those in South Korea. This particularly comes in handy for those interested in trading Kaspa with the South Korean Won (KRW), as it lists the KAS/KRW trading pair. This means you get to carry out direct trading between Kaspa and the fiat currency KRW.

Reading this, you might be shocked that Binance didn’t make the list. Well, it is because Binance does not offer spot trading for Kaspa. However, you can trade Kaspa futures contracts using the KAS/USDT pair. With this, traders can make predictions on what the future price of Kaspa will be without actually holding the asset.

With each of these exchanges comes a peculiar set of features and requirements that you need to be familiar with, so you should consider your individual needs before choosing a platform to trade Kaspa.

Buying Kaspa on Uniswap: A Step-by-Step Guide

Buying wrapped Kaspa (wKAS) through Uniswap is a process that will have you connect a Trust Wallet to the decentralized exchange (DEX), select Ethereum as your payment method, and execute the swap. While that might seem quite hectic, it isn’t actually, and here is how it can be made easier for you. 

Connecting Trust Wallet to Uniswap

The first thing you need to do is connect your Trust Wallet to Uniswap. To do this, visit the Uniswap interface at https://app.uniswap.org/ and click “Connect Wallet.” After doing that, a wide array of wallet options will pop up; look for Trust Wallet and select it. Doing that will set up a secure connection between your wallet and the DEX and allow you to continue your transaction.

Selecting Ethereum as a Payment

Once connected,  select Ethereum (ETH) as your payment method. Since ETH was built before the ERC-20 standard, it is wrapped into WETH (wrapped ether) during the swap process on Uniswap. This is an automatic process, so you don’t have to worry about converting it yourself. Select “ETH” from the drop-down menu to show that you’ll use it for the swap.

Buying Wrapped Kaspa

In the Uniswap interface, search for wKAS by entering its name or contract address. If you don’t have the contract address information, you can find it on Etherscan by searching for “Wrapped Kaspa.” For safety reasons, always verify the correct address to avoid scams. The verified contract address for wKAS is typically provided in the token’s official documentation, or you can check for it on top crypto listings. 

After selecting wKAS, enter the amount of ETH you wish to swap. Go through the transaction details once again, and carefully monitor any associated fees added. Also, keep tabs on the current exchange rate at the time of your swap. Once you’re ready, confirm the swap in your Trust Wallet. You may need to approve the transaction and pay a network fee before the swap can happen. 

Finally, once the transaction is confirmed on the blockchain, your wrapped Kaspa is all yours. You can check the transaction details and your new wKAS balance on Etherscan or directly within your Trust Wallet.

By following these steps, you can smoothly buy wrapped Kaspa on Uniswap using your Trust Wallet. This way, you can smartly utilize the potential of both the Kaspa and Ethereum ecosystems.

Conclusion

Every Blockchain technology has to have three key things-   Speed, Security, and Scalability and with Kaspa providing all three, they stand out in a pool of other competitors. 

Whether you’re a miner, trader, or developer, Kaspa brings to your doorstep a platform that caters to your needs without compromising security or decentralization.

Remember, investing in any cryptocurrency comes with its own set of risks. However promising Kaspa may look, always do your research and only invest what you can afford to lose. Happy trading, and see you on the green side!