A proof-of-work, layer-1 altcoin has defied the crypto market doldrums and surged by 25% this week forward of an upcoming protocol launch.
Kaspa (KAS), which bills itself as “the quickest, open-source, decentralized and absolutely scalable layer-1 on this planet,” is buying and selling round $0.18 at time of writing, up from $0.144 seven days in the past.
The Twenty seventh-ranked crypto asset by market cap can be up greater than 6.5% prior to now 24 hours.
KAS’ features have materialized as Kasplex, a protocol for the Kaspa ecosystem, gets closer to its open beta, which kicks off on June thirtieth.
The Kasplex Protocol plans to introduce the brand new KRC-20 token customary and help the creation and administration of non-fungible tokens (NFTs) on the Kaspa community.
Explains Kasplex’s whitepaper,
“The first precept guiding the protocol’s design is to keep away from imposing unfavourable results on Kaspa, in contrast to sure protocols that contribute to the ‘UTXO bloat’ situation in Bitcoin. Kasplex supplies an easy strategy to knowledge insertion, supplemented by an open-source indexer and a set of APIs, enabling seamless interplay with the protocol.
By adopting Kasplex, builders, artists, and influencers can leverage the Kaspa community to create, handle, and switch digital belongings effectively and securely, selling innovation and progress inside the Kaspa community.”
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