#44 / Monetary assetskaspaPartially verified

Kaspa

A proof-of-work network using a blockDAG to allow very fast block rates.

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Token

KAS

Sector

Proof-of-work blockDAG

KAS market

CoinGecko data; may be delayed.

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Tokenomics

Market cap

$983.80M

Fully diluted valuation (FDV)

$1.02B

Circulating vs diluted1.03x

Circulating supply: 27.78B
Total supply: 27.78B
Max supply: 28.70B

96.8% of the achievable supply is already circulating.

All-time high (ATH)

$0.21 -82.93% · Jul 31, 2024

Source: CoinGecko, snapshot of Oct 28, 2026. Figures may be delayed.

On-chain fundamentals

This asset is not mapped to a DefiLlama-tracked protocol or chain, or the provider reports no data for it. When a verified mapping exists, the table appears here.

Why it matters

Kaspa applies the GHOSTDAG protocol so that blocks produced in parallel are all incorporated into the ledger rather than orphaned, which allows a far higher block rate than traditional proof-of-work while keeping PoW security assumptions. It launched with no premine or pre-allocation, and its appeal is concentrated among proof-of-work purists rather than application developers.

General research guidance, not analysis specific to this asset. Detail is pending.

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How it works

Kaspa is proof-of-work rebuilt as a blockDAG: its GHOSTDAG protocol does not discard parallel blocks but orders and includes them, so blocks are emitted every second or faster with fast confirmation — scaling PoW throughput without abandoning mining. K HeavyHash keeps mining efficient on standard hardware.

Token utility

Fast proof-of-work settlement

Mining rewards and network security

Fair-launch monetary asset exposure

Value capture

KAS is pure monetary asset: miners cover costs and sell rewards, and holders bet on sound-money scarcity plus DAG performance as adoption drivers. There is no staking, no fees to protocols, no cash flows — the value case is entirely monetary, like Bitcoin's.

Supply and issuance

KAS replicates Bitcoin's issuance model on a compressed schedule: a fixed cap around 28.7 billion with regularly scheduled halvings that complete emission early in the coin's life. No premine, no ICO — it launched fair, which is central to its narrative.

Governance

There is no on-chain governance: changes happen through open-source development and node-operator consensus, as in Bitcoin. This means no treasury, no foundation steering — upgrades rely on volunteer and funded core developers agreeing socially.

Key risks

Minimal smart contract and application ecosystem
Competes for the proof-of-work narrative dominated by Bitcoin
Mining centralization pressure as specialized hardware matures

Frequently asked questions

What problem does blockDAG solve?

In a classic chain, parallel blocks race and all but one are discarded, wasting work. GHOSTDAG keeps every block and imposes a consistent order on them, so mining power is never orphaned — throughput scales with block rate instead of against it.

Is Kaspa's emission faster than Bitcoin's?

Yes — deliberately. Kaspa compresses the Bitcoin schedule into years instead of a century, which front-loads scarcity and makes today's miners and buyers face the same long-term scarcity earlier. It is a design trade, not an accident.

References

Last verified: 2026-07-22

Kaspa | Proof-of-Work blockDAG for Real-Time Decentralization
Kaspa · kaspa.org · primary source
The project's official site, retrieved on the date shown, supporting how it describes itself. It does not establish supply, governance or issuance mechanics.
Accessed 2026-07-22