Kaspa (KAS) Takes Altcoin Market By Storm With 60% Growth

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Kaspa (KAS) has been making waves within the altcoin market these days, with its spectacular surge of over 60% previously 14 days, in accordance with CoinGecko information.

The cryptocurrency is predicated on the GHOSTDAG protocol, which is a generalization of the Bitcoin Consensus. This protocol provides a number of benefits over conventional blockchain consensus mechanisms, together with larger throughput and quicker affirmation occasions.

Kaspa Emerges As High Performer

Lately, the Kaspa workforce introduced a big new function that’s set to go stay on the KAS testnet. The 10BPS function guarantees to ship “unmatched” transaction speeds of as much as 10,000 transactions per second (TPS).

This can be a large enchancment over the present transaction speeds of different main cryptocurrencies like Bitcoin and Ethereum, which usually provide solely a fraction of this throughput.

In accordance with the announcement, the 10BPS function is at present being stress-tested on the KAS testnet, the place it’s setting new data for crypto BPS.

🚀Groundbreaking 10BPS will probably be stay and public on the $KAS testnet at 7AM UTC.

Stress testing block and transaction charges & setting new data for #crypto #BPS.

Extra on the way to take part quickly.

Witness this milestone stay: https://t.co/ZjXVeSwUKY#POW #RustyKas #rustlang pic.twitter.com/hjxXXhc5fo

— Kaspa (@KaspaCurrency) June 26, 2023

This appreciable soar in transaction velocity might be a game-changer for the Kaspa protocol, because it seems to achieve extra market share from established Layer 1 protocols reminiscent of Ethereum, Cardano, and Solana.

Along with the 10BPS function, the Kaspa blockchain provides 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 help a excessive throughput of transactions, which makes it well-suited to be used circumstances that require quick and environment friendly processing.

This scalability is achieved via 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 development these days, with many cryptocurrencies posting spectacular good points 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 comparable Layer 1 (L1) cryptocurrencies (up 12.90%).

As of right this moment, KAS is buying and selling at $0.02558, with a 24-hour commerce quantity of $9 million. Whereas the value has declined barely by 0.83% within the final 24 hours, the general development is constructive, with the cryptocurrency market displaying indicators of restoration after a interval of consolidation.

Within the brief time period, KAS is dealing with resistance at $0.02609, which it has struggled to interrupt via since Saturday. Nonetheless, if the token manages to beat this resistance degree and entice extra gamers to its ecosystem, its bullish momentum might proceed and new all-time highs might be inside attain.

Conversely, within the occasion of an extra worth drop, the $0.02449 degree might function a help ground for KAS. Which means if the value falls to this degree, it might discover some shopping for help from traders trying to enter the market at a cheaper price.

In accordance with Coingecko, KAS has a complete provide of 19 billion tokens, with a market capitalization of $495,310,928.