What Kaspa does

Kaspa is a decentralized Layer-1 proof-of-work cryptocurrency network that operates on a blockDAG architecture using the GHOSTDAG consensus protocol, rather than a traditional linear blockchain. Originating from blockDAG research at Hebrew University of Jerusalem and Harvard, the network launched mainnet in November 2021 as a fair-launched system with verifiable no-premine distribution — every KAS token in circulation can be cryptographically traced back to the empty genesis block. The network achieved 10 blocks per second (100ms block time) via the Crescendo hardfork in August 2024, following a full Rust rewrite of the original Golang node (Rusty Kaspa) funded by a 100M KAS community grant. Kaspa's roadmap includes the Toccata hardfork (November 2025) introducing covenant-based base-layer programmability, the DAGKnight consensus upgrade (2026) targeting 40-25ms block times, and a 2027 hardfork aiming for 100 BPS with on-chain payment channels.

Kaspa serves three distinct constituencies: cryptocurrency users seeking fast, low-cost proof-of-work transactions with sub-second confirmations; developers building decentralized applications using Rusty Kaspa, the WASM SDK, Python SDK, Silverscript compiler, and upcoming covenant primitives; and proof-of-work miners securing the network through competitive mining. The KAS token is distributed across 50+ global exchanges including Kraken, KuCoin, Bybit, Gate.io, and eToro, with users self-custodying through mobile (Kaspium), desktop, and hardware wallets. The organization is community-governed with 1-10 employees, no institutional investors, and no traditional revenue model — economic activity accrues to miners via block rewards and transaction fees rather than to a corporate entity.

The business model is structurally non-revenue: Kaspa functions as an open-source protocol with no product pricing, no enterprise sales motion, and no corporate top-line. Go-to-market is entirely community-led through Discord, Telegram R&D channels, GitHub, and earned crypto media coverage, supplemented by exchange-driven distribution. Recent ecosystem development includes Kaspa Finance (a DeFi super app launched via Coinstore IEO in February 2026), the Public Node Network (community-operated nodes fronted by Kaspa Resolver), and the Based Apps framework for shared-state concurrent applications. The combination of academic research provenance, fair-launch credibility, and an aggressive technical roadmap (10 BPS live, 100 BPS targeted by 2027) positions Kaspa as a differentiated proof-of-work Layer-1 alternative to Bitcoin, though the lack of institutional governance and revenue base creates corresponding investment risk.

Name

Kaspa

Legal name

Kaspa

Website

https://kaspa.org

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

Kaspa is a decentralized Layer-1 proof-of-work cryptocurrency network using GHOSTDAG blockDAG consensus to achieve 10 blocks per second, serving crypto traders, developers, and miners with a fair-launch (no premine) token model.

Ownership category

akta.pro rank

Product category

Layer-1 Blockchain Protocol

NAICS

Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Layer 1 Base Protocols & Consensus (execution, consensus, security, clients) (FSAPAAAA)

akta.pro secondary industries

Node Operations, RPC & Infrastructure Services (nodes, validators, RPC, relayers) (FSAPAAAF), Smart Contract Developer Platforms & Tooling (SDKs, APIs, frameworks, indexing) (FSAPAAAH)

Keywords

• Blockchain infrastructure
• Proof-of-work protocol
• BlockDAG consensus
• Cryptocurrency network
• Decentralized settlement

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Network Transaction Fees: Miners receive block rewards and transaction fees for processing transactions on the Kaspa network. As a proof-of-work cryptocurrency, the revenue model is based on mining economics - miners earn KAS tokens as block rewards for securing the network.

Go-to-market motion2 records

Distribution channels9 records

Marketing channels6 records

Core offering

Kaspa is a Layer-1 proof-of-work blockchain protocol that uses a blockDAG (GHOSTDAG) architecture to process transactions in real-time at 10 blocks per second, rather than discarding parallel blocks like traditional chains. The network maintains Bitcoin-like security properties (censorship resistance, permissionless settlement, competitive mining) while achieving sub-second confirmations, and supports developers through a Rust node implementation (Rusty Kaspa v2.0.0), WASM and Python SDKs, and upcoming covenant-based L1 programmability via the Toccata hardfork.

Product overview

Kaspa is a Layer-1 proof-of-work blockDAG blockchain protocol that operates as a single unified platform providing real-time decentralization. The core offering is the Kaspa BlockDAG network running at 10 blocks per second, built on the PHANTOM/GHOSTDAG consensus protocol. Supporting infrastructure includes Rusty Kaspa (the Rust-based node implementation), the WASM SDK and Python SDK for application development, Silverscript for covenant compilation, and the Public Node Network for developer access. The Toccata hardfork added covenant-based programmability enabling vaults, smart wallets, and native assets, while Based Apps and Inline ZK provide frameworks for building concurrent applications. Additional ecosystem products include Kaspa Finance (a DeFi super app with automated trading and yield farming), block explorers, and DAG visualization tools. The architecture supports future upgrades including the DAGKnight consensus protocol targeting 40-25ms block times and a 2027 hardfork aiming for 100 BPS.

Differentiator

Problem solved

Functional benefit

Products and services

• Kaspa BlockDAG Network A live proof-of-work blockDAG blockchain running at 10 blocks per second on mainnet, providing real-time decentralization via the GHOSTDAG consensus protocol. Enables fast transaction confirmation while maintaining proof-of-work security properties (censorship resistance, permissionless settlement, competitive mining) for cryptocurrency users, developers, and miners.
• Rusty Kaspa Rust reference implementation of the Kaspa node and full protocol stack, including RPC server, wallet internals, UTXO indexing, and direct network access. Powers the mainnet network and enables developers to run nodes or build infrastructure.
• Kaspa WASM SDK Browser and Node.js bindings (JavaScript/WebAssembly) for building Kaspa wallet flows, transactions, and RPC access. Targets application developers integrating Kaspa into web and Node.js environments.
• Kaspa Python SDK Python tooling for the Kaspa stack, enabling Python developers to connect to Kaspa nodes over RPC and interact with the network. Currently in beta but usable today for tooling and integration work.
• Silverscript High-level scripting language that compiles to native Kaspa Script, providing a dedicated compiler for writing covenants on the Toccata hardfork. Used for vault, escrow, and covenant-based smart contract development.
• Kaspa Explorer Block explorer for viewing Kaspa blockchain data including blocks, transactions, and addresses, available at kaspa.stream and explorer.kaspa.org.
• Public Node Network (PNN) A contributor-operated pool of public Kaspa nodes fronted by the Kaspa Resolver, providing fast first-time connectivity for development, testing, and light production use. Balances load across community-run endpoints.
• DAG Visualizer Visualization tool for the Kaspa blockDAG structure, available at kgi.kaspad.net, allowing users to view and explore the parallel block ordering that distinguishes Kaspa from single-chain architectures.
• Toccata Programmability Base-layer programmability introduced via the Toccata hardfork, enabling covenant-based smart contracts, recursive spending rules, vaults, smart wallets, native assets, and ZK-assisted constructions on Kaspa L1.
• Based Apps Application framework for building shared-state concurrent applications on Kaspa, where applications are written in Rust and run inside a managed environment with built-in accounts, balances, and shared-state execution.
• Inline ZK Specialized programmability path for products requiring each action to prove its own validity and settle independently, supporting privacy-preserving actions, proof-verified workflows, and custom account models.
• Kaspa Finance A DeFi super app built on Kaspa's high-speed Layer-2 ecosystem, offering automated trading, yield farming, and AI-powered tools for crypto users; launched via IEO on Coinstore in February 2026.

Quantifiable outcome

• 10 blocks per second (vs Bitcoin's ~0.0017 BPS)
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature15 records

Partnerships

Two partnerships are on record, tiered minor.

• CoinstoreminorChannel Partner/ Reseller/ Distributor · 26 February 2026Coinstore hosted the Initial Exchange Offering (IEO) for Kaspa Finance's native token ($KFC), a DeFi super app built on Kaspa's Layer-2 ecosystem. The private sale began February 26, 2026 with trading starting March 6, 2026. Kaspa Finance offers automated trading, yield farming, and AI-powered tools built on Kaspa's high-speed infrastructure.
• BlockDAG (Alleged)minorOthersAlleged plagiarism case where BlockDAG's whitepaper was found to closely mirror Kaspa's documentation. BDAG's token price dropped 68% from listing. This represents competitive positioning, not a formal partnership.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Alephium: Alephium is a sharded blockDAG Layer-1 with a Proof-of-Work variant called "PoLW" and a custom stateful UTXO model for smart contracts. It overlaps with Kaspa on PoW security, DAG-based architecture, and a developer-facing smart contract stack, making it a direct technical peer despite a different sharding strategy.
• Bitcoin: Bitcoin is the largest proof-of-work Layer-1 blockchain and Kaspa's central ideological reference point—Kaspa explicitly positions itself as "Bitcoin's proof-of-work without the wait." Both share miner-secured consensus, fair-launch principles, and a UTXO settlement model, making Bitcoin the primary peer for comparing decentralization, security budget, and store-of-value narratives.
• Litecoin: Litecoin is one of the longest-running proof-of-work Layer-1s, positioned as a faster, cheaper complement to Bitcoin for payments. It shares Kaspa's PoW security model, miner-driven block production, and broad exchange distribution, though it lags Kaspa substantially on block rate.
• Bitcoin Cash: Bitcoin Cash forked from Bitcoin to enable faster, cheaper peer-to-peer payments on a PoW UTXO base. It competes with Kaspa for the "fast payments over a secure PoW base layer" thesis and shares the same ideological lineage and merchant/retail audience.
• Dogecoin: Dogecoin is a proof-of-work Layer-1 merged-mined with Litecoin, with broad retail exchange distribution and a payment-oriented narrative. It is directly comparable to Kaspa on PoW consensus, retail-driven liquidity, and goal of being a faster everyday payment token.
• Monero: Monero is a leading proof-of-work Layer-1 focused on privacy, fungibility, and ASIC-resistant mining. It shares Kaspa's commitment to fair launch, decentralized PoW mining economics, and community-led governance without VC allocation, making it a natural comparison for fair-launched PoW store-of-value and payment use cases.
• Zcash: Zcash is a proof-of-work Layer-1 with optional shielded transactions and a focus on credible, fairly-distributed privacy infrastructure. It is comparable to Kaspa on PoW security, fair-launch principles, and positioning as a credibly neutral settlement asset distinct from EVM chains.
• Conflux: Conflux is a permissionless Layer-1 that also uses a tree-structured blockDAG (TreeGraph) to achieve high throughput while remaining compatible with Ethereum tooling. Like Kaspa, it targets fast confirmations on a DAG and markets itself as a scalable PoW alternative, making it the closest architectural comparable.

Broad incumbents

• Solana: Solana is a high-throughput Layer-1 that captures most of the "fast, cheap chain" demand Kaspa is also targeting. While Solana is Proof-of-Stake rather than PoW, it competes directly for the same real-time payments, DeFi, and consumer-app narratives, and sets the bar for throughput, tooling, and ecosystem liquidity that Kaspa must beat.

Emerging players

• BlockDAG: BlockDAG is an emerging L1-style project that uses a DAG consensus and whose whitepaper was found to closely mirror Kaspa's documentation. It is included as a peer because it competes in the same "blockDAG" positioning and brand search, though it lacks Kaspa's academic research lineage and Rust tooling depth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/KaspaCurrency
• GitHubgithub.com/kaspanet/rusty-kaspa
• LinkedInlinkedin.com/company/kaspa-currency

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kaspa