Bitcoin-Inspired Altcoin Project Skyrockets 115% This Month Amid Series of Updates

An altcoin project inspired by Bitcoin’s (BTC) ethos is blowing up this month as its ecosystem undergoes a major series of updates.

The 199th-ranked crypto by market cap Kaspa (KAS) is worth $0.0121 at time of writing, up 23% in the last 24 hours, 58% in the last week, 86% in the last two weeks, and 115% in the last 30 days.

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According to the altcoin project’s website:

“Kaspa is the fastest and most scalable instant confirmation transaction layer ever built on a proof-of-work engine. Transactions sent to miners can be included immediately in the ledger, which is structured as a revolutionary blockDAG.

BlockDAG is Kaspa’s version of the GhostDAG/PHANTOM protocol, and aims to deliver high block creation and transaction speed without the loss of security and decentralization that many higher-speed chains suffer from.

Says Kaspa,

“Its design is faithful to the principles Satoshi embedded into Bitcoin — proof-of-work mining, UTXO [unspent transaction output]-formed isolated state, deflationary monetary policy, no pre-mine, and no central governance. Kaspa is unique in its ability to support high block rates while maintaining the level of security offered by the most secure proof-of-work environments.”

Kaspa currently has a crowdfunding campaign to get KAS onto a top 10 crypto exchange by trading volume.

Kaspa also released a new version of the project’s whitepaper last week, which explains the nuts and bolts of the project’s algorithm in greater detail.

Last week, the project also announced they are in the development stages of several new hardware wallets.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc/Dilok Klaisataporn

The post Bitcoin-Inspired Altcoin Project Skyrockets 115% This Month Amid Series of Updates appeared first on The Daily Hodl.

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