1 year ago

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Kaspa Overview | BlockDAG & GhostDAG Explained

Kaspa is the fastest fully open source, decentralized, and scalable layer 1 network in the world. The name Kaspa means “silver” or “money,” and that’s because Kaspa is setting out to be what Bitcoin was originally intended to be, digital money. Today, Bitcoin is more like gold and is used as a store of value. Historically, silver was actually used more frequently for trading, since gold was more rare, and that’s why Kaspa wants to become the digital silver, combining the best of what Bitcoin and other blockchains have to offer.

Like Bitcoin, Kaspa is a proof of work blockchain, meaning that miners are responsible for verifying and adding transactions to the ledger. Here’s a refresher on the concept. In a proof of work consensus system, a network of computers, also called miners, are competing to complete mathematical puzzles that verify a list of transactions. Confirming these transactions unlocks a reward in the form of cryptocurrency, which is the incentive for the miner to mine and confirm these transactions. But unlike any other proof of work blockchain, Kaspa does this in a very unique way.

If you have any questions just comment below and I'll be sure to get back to you.

Website: https://kaspa.org/

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NOTE: This video description contains affiliate links. If you purchase a product through one of these links, I will receive a commission (at no additional cost to you). Thank you for supporting my channel!

NOTE: This video description contains affiliate links. If you purchase a product through one of these links, I will receive a commission (at no additional cost to you). Thank you for supporting my channel!

DISCLAIMER: All of the information presented is strictly for educational and entertainment purposes, nothing should be taken as legal or financial advice. The video content represents the opinions and experiences of the speaker (Summer). Investments in both crypto-related and real world assets pose a certain degree of risk and this content will never suggest or recommend any type of investments. Please do you own research and asses your personal situation before making any financial decisions.

Stay safe everyone!

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