Kaspa (KAS) is a proof-of-work (PoW) cryptocurrency that implements the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not orphan blocks created in parallel, but allows them to coexist and orders them in consensus. This makes Kaspa a blockDAG, a generalization of Nakamoto consensus. This unique approach aims to operate safely while maintaining high block rates and minimal confirmation times. Kaspa's implementation includes features such as Reachability to query the DAG's topology, Block data pruning, SPV proofs, and future subnetwork support which will make the implementation of layer 2 options much easier.

Kaspa operates on a proof-of-work consensus mechanism and uses an algorithm known as k-Heavyhash. This algorithm was chosen for its forward-compatibility with Photonic miners. Kaspa's unique monetary policy decreases emissions geometrically over time based on the 12-note scale of music, known as the chromatic phase. This policy dictates how many coins are minted per second regardless of the block rate. If Kaspa changes the block rate in the future, the reward will be adjusted accordingly to maintain the same emission rate. Kaspa's network aims to be safeguarded by miners through Proof of Work, aiming to maintain the integrity of the network.

Kaspa aims to support high block rates while striving to maintain the level of safety offered by proof-of-work environments. This makes it suitable for applications that require fast and safe transactions. Kaspa's current main net operates at 1 block per second, and developers and researchers intend to stretch this capability to the limits, potentially reaching 10 or even 100 blocks per second. This scalability positions Kaspa as a potential option for applications that require high transaction volumes and fast confirmation times.

Kaspa was envisioned by R&D company DAGLabs, through support by PolyChain. However, Kaspa is a community project, completely open source, with no central governance, and no business model. The founder is Yonatan Sompolinsky, a Postdoc CS at Harvard University on the MEV Research Team. Yonatan's 2013 paper on Ghost protocol is cited in the Ethereum Whitepaper. Kaspa's core developers and contributors include Cryptography Doctoral student Shai Wyborski, CS Master Michael Sutton, Mike Zak CS Undergrad Studies, Cryptography researcher Elichai Turkel, and Developer Ori Newman. These individuals have contributed significantly to the implementation and ongoing development of the network.