Kaspa

Kaspa is a layer-1 proof-of-work blockchain that launched in November 2021 with no pre-mine, no pre-sale, and no coin allocations to insiders, making it entirely community-managed. It is designed to address a well-known limitation of traditional proof-of-work networks — slow confirmation times — by processing blocks at a rate it claims is faster than any other proof-of-work or proof-of-stake network. The intended audience ranges from users who want hard-money properties similar to Bitcoin to developers building smart-contract applications through a rollup architecture.

Kaspa uses a consensus protocol called GHOSTDAG, which operates on a Directed Acyclic Graph of blocks rather than a single chain, allowing many blocks to be produced and confirmed in parallel without discarding the work done on competing blocks. The native token, KAS, is used to pay transaction fees and to compensate miners who secure the network through proof-of-work computation. Block times in the stored data are recorded as effectively instantaneous, reflecting a sub-minute block rate that the network describes as bounded by internet latency rather than protocol design.

The data stored for Kaspa does not include a protocol-level fee revenue figure, so fee-based measures such as price-to-fees or revenue yield are not available on this page. Fees are paid by users submitting transactions and flow to miners as compensation for their proof-of-work, with no portion described as being retained by a protocol treasury. The circulating supply of 27,756,649,676 KAS represents 96.7 percent of the maximum supply of 28,704,026,601 KAS at this point in time, and the fully diluted valuation equals the market capitalisation at 1.0x, meaning remaining dilution from new issuance is negligible at roughly 0.0000013 percent of supply pending.