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Kaspa (KAS) has been making waves within the altcoin market recently, with its spectacular surge of over 60% previously 14 days, in response to CoinGecko knowledge.
The cryptocurrency relies on the GHOSTDAG protocol, which is a generalization of the Bitcoin Consensus. This protocol presents a number of benefits over conventional blockchain consensus mechanisms, together with greater throughput and quicker affirmation occasions.
Kaspa Emerges As High Performer
Just lately, the Kaspa workforce introduced a major new function that’s set to go reside on the KAS testnet. The 10BPS function guarantees to ship “unmatched” transaction speeds of as much as 10,000 transactions per second (TPS).
It is a huge enchancment over the present transaction speeds of different main cryptocurrencies like Bitcoin and Ethereum, which usually supply solely a fraction of this throughput.
Based on the announcement, the 10BPS function is presently being stress-tested on the KAS testnet, the place it’s setting new data for crypto BPS.
🚀Groundbreaking 10BPS shall be reside and public on the $KAS testnet at 7AM UTC.
Stress testing block and transaction charges & setting new data for #crypto #BPS.
Extra on tips on how to take part quickly.
Witness this milestone reside: https://t.co/ZjXVeSwUKY#POW #RustyKas #rustlang pic.twitter.com/hjxXXhc5fo
— Kaspa (@KaspaCurrency) June 26, 2023
This appreciable leap in transaction velocity could possibly be a game-changer for the Kaspa protocol, because it seems to be to achieve extra market share from established Layer 1 protocols equivalent to Ethereum, Cardano, and Solana.
Along with the 10BPS function, the Kaspa blockchain presents a number of different spectacular options that make it a compelling selection for builders and customers alike.
One of many key options of the Kaspa blockchain is its scalability. The protocol is designed to assist a excessive throughput of transactions, which makes it well-suited to be used instances that require quick and environment friendly processing.
This scalability is achieved by way of using the GHOSTDAG consensus mechanism, which permits for a excessive diploma of parallelism and concurrency within the processing of transactions.
One other key function of the Kaspa blockchain is its safety. The protocol is designed to be extremely proof against assaults, with a strong set of cryptographic algorithms and different safety measures in-built. This ensures that the community stays safe and dependable, even within the face of potential threats.
Will KAS Bullish Momentum Proceed?
The cryptocurrency market has been on an upward pattern recently, with many cryptocurrencies posting spectacular features over the previous week.
Amongst these is KAS, which has seen a worth improve of 28.90% within the final 7 days, outperforming each the worldwide cryptocurrency market (up 9.80%) and related Layer 1 (L1) cryptocurrencies (up 12.90%).
As of immediately, KAS is buying and selling at $0.02558, with a 24-hour commerce quantity of $9 million. Whereas the worth has declined barely by 0.83% within the final 24 hours, the general pattern is constructive, with the cryptocurrency market exhibiting indicators of restoration after a interval of consolidation.
Within the quick time period, KAS is dealing with resistance at $0.02609, which it has struggled to interrupt by way of since Saturday. Nonetheless, if the token manages to beat this resistance stage and entice extra gamers to its ecosystem, its bullish momentum could proceed and new all-time highs could possibly be inside attain.
Conversely, within the occasion of an additional worth drop, the $0.02449 stage could function a assist ground for KAS. Which means that if the worth falls to this stage, it might discover some shopping for assist from buyers trying to enter the market at a cheaper price.
Based on Coingecko, KAS has a complete provide of 19 billion tokens, with a market capitalization of $495,310,928.
KAS consolidation interval on the 1-hour chart. Supply: KASUSDT on TradingView.com
Featured picture from Unsplash, chart from TradingView.com
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