Thanks to everyone who voted in the recent poll I conducted on twitter. The turnout was incredible and its great to see the engagement from all of the proof of work community.
Kaspa has been on an incredible journey and is developing fast. Looking to deliver 10 BPS in the very near future.
Embracing the Nakamoto Ethos: DAGLabs and the Transparent Inception of Kaspa
In the world of cryptocurrency, where opacity and complexity often reign, the story of Kaspa’s birth stands out as a beacon of transparency and inclusivity, embodying the Nakamoto Ethos—a notion of “fair launch” introduced by the enigmatic creator of Bitcoin, Satoshi Nakamoto.
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The Genesis of Kaspa: Overcoming Early Obstacles
In 2021, DAGLabs grappled with the challenges posed by the nascent state of optical mining hardware and a lack of funds. Despite such struggles, the meticulous research and development carried out under DAGLabs paved the way for the birth of Kaspa, a groundbreaking proof-of-work cryptocurrency reflecting the generalized Nakamoto Consensus.
Public Announcement: A Chronicle of Transparency
Kaspa’s journey was unveiled to the public with unwavering transparency, a move orchestrated through a meticulous Medium post by Yonatan Sompolinsky, published on September 21st, 2021. This public disclosure was more than an announcement—it was a symbol of Kaspa’s commitment to maintaining a transparent dialogue with the public and marked the nascent steps of its evolutionary journey.
The Journey in Public Eye: Tweets and Debuts
Before the Medium post, the dialogues were initiated on Twitter, with Sompolinsky engaging the community with tweets, notably one broadcasted on April 12th, 2021, marking the visual success of the Kaspa testnet. This dialogue with the public extended to larger finance platforms, gaining recognition on notable sites such as Investing.com and Finance Magnates, further solidifying Kaspa’s presence in the financial domain.
The Fair Launch: A Pinnacle of Transparency
Kaspa’s official and equitable launch on November 7th, 2021, devoid of any pre-mining or pre-sale, exemplified transparency and fairness. Yonatan Sompolinsky’s meticulous documentation emphasized the project’s community-oriented and independent nature, positioning Kaspa as a trailblazer in embracing the fair launch concept.
The Community-Centric Approach
Kaspa, even during its Pre-Deflationary Phase, opted for organic growth, relying on a lean team and platforms like Discord, Twitter, Telegram, GitHub, and Reddit for public announcements and updates. This ensured the maintenance of high engagement levels and transparency, aligning perfectly with the principles of a fair launch where everyone—including DAGLabs and its employees—had equal access to the project from the outset.
Crowdfunding: The Bedrock of Kaspa
Without the cushion of initial budgets or the influence of centralized authorities, Kaspa leaned on a crowdfunding model, putting the community at the forefront of its funding infrastructure. This community-driven approach promoted a sense of collective ownership and responsibility, fostering enhanced community governance and transparent, democratic participation.
Inclusivity and Equal Coin Distribution
A day before the launch, the community opted for kHeavyHash as the network’s mining algorithm to prevent potential dominance by advanced hardware. This strategic move was an extension of Kaspa’s devotion to an inclusive and democratic launch. The gradual incorporation of more advanced mining hardware over time aimed to broaden the distribution and decentralization of Kaspa.
Shaping the Future: Kaspa as a Role Model
The sequence of open communications, equal coin distribution, and absence of paid marketing underscores Kaspa’s unwavering commitment to the principles of a fair launch. Kaspa’s transparent and inclusive approach has set a benchmark in the cryptocurrency domain, influencing other projects like Nexa to tread a similar path.
For those wishing to delve deeper into the intricacies of Kaspa’s fair launch, visit: Kaspa’s FAQ
The Book of Kaspa
The Book of Kaspa gives you an in-depth look at Kaspa’s inner workings, revealing everything from its robust Rust codebase to the dedicated community pushing its boundaries. Crowningshield highlights the technological marvels and the spirited enthusiasts, trailblazers, and users who drive Kaspa’s momentum.
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