Kaspa boldly touts itself as the most scalable and rapid layer-1 transaction solution, providing instant validation. GHOSTDAG and PHANTOM protocol, a scalable development of Bitcoin’s consensus mechanism, are two unique technologies that Kaspa employs. The thorough security you expect as a user is combined with the speed and scalability sometimes lacking in traditional blockchains, giving you the best of both worlds.

In this blog, let’s have a detailed overview of Kaspa (KAS) and how you can buy KAS tokens in India.

What is Kaspa?

Kaspa aims to tackle the ongoing challenges related to the scalability and speed of decentralized transactions. Traditional blockchains often face issues such as network congestion as they expand, leading to slower transaction processing times and higher fees.

Kaspa introduces innovative solutions to address these challenges by fundamentally redesigning blockchain functionality. One of its key innovations is the GhostDAG protocol, which incorporates a novel algorithm allowing for parallel transaction processing instead of the traditional sequential approach. This approach significantly increases the blockchain’s capacity and transaction throughput, enabling instantaneous transactions at a fraction of the usual cost.

Additionally, Kaspa is an open-source project, leveraging the collective efforts of a worldwide community of developers. This collaborative approach ensures continuous maintenance, improvement, and innovation of Kaspa’s foundational technology.

How Does Kaspa Work?

The Kaspa blockchain, developed and launched by DAGLabs, an R&D company in collaboration with PolyChain, operates on the GHOSTDAG protocol. This protocol ensures the simultaneous existence of concurrently mined blocks within the network. This approach, previously mentioned as BlockDAG, prevents discarding simultaneously mined blocks.

In contrast to traditional Proof-of-Work (PoW) blockchains like Bitcoin, where multiple nodes worldwide mine blocks simultaneously, only one block is typically accepted. However, the Kaspa blockchain behaves differently. The GHOSTDAG protocol accepts and integrates all concurrently mined blocks into the network in a sequential manner.

Beyond its BlockDAG architecture, the Kaspa blockchain boasts additional notable features, including reachability, block data pruning, and Simple Payment Verification (SPV) proofs. Unlike conventional blockchains, which require nodes to download the entire ledger for transaction validation, Kaspa enables users to verify transactions without downloading the ledger.

Currently, the Kaspa blockchain validates one block per second but aims for higher throughput, targeting rates of 10-100 blocks per second. Its subnetwork support further enables developers to construct Layer 2 blockchain networks, providing an avenue for other projects to harness its capabilities.

Kaspa Tokenomics

Kaspa’s blockDAG architecture and high-speed block generation aim to decentralize KAS mining and enable efficient solo mining even with lower hash rates.

Launched fairly in November 2021, Kaspa had no pre-mining, pre-sales, or initial coin allocations. The total supply of Kaspa tokens is capped at 28.7 billion coins, with an emission schedule following a halving pattern annually, accompanied by gradual monthly reductions.

Buying Kaspa (KAS) in India

Below are a few simple steps you can follow and buy the KAS token in India with WazirX, India’s most trusted and widely used crypto exchange.

The best way to buy KAS tokens is by depositing INR in your WazirX wallet. Alternatively, you can also buy KAS using P2P trade; to get answers to all your queries related to the P2P trade, click here!

Step 1 – Sign-Up on the WazirX platform

To begin buying and selling KAS, you must sign up for an account on the WazirX platform. If you already have an account, you can log in directly.

For your reference, here’s how you can open an account on WazirX.

Step 2 – Set up your account security by verifying your email address.

This step is about verifying your email address. After you sign up on the WazirX platform, you’ll get a verification link on your registered email. By clicking on that link, you’ll get two options to ensure the security of your account – the authenticator app and mobile SMS.

Note: The authenticator app is a more secure way to stay safe when compared to mobile SMS because there’s a risk of delayed reception or SIM card hacking.

Step 3 – Complete the KYC process.

After choosing your country, you can proceed with completing the KYC process. Click here for a detailed overview.

Note: You must complete your KYC to be able to trade P2P or withdraw funds on the WazirX app.

Step 4 – Add funds to your WazirX wallet.

To add funds, simply go to your account on the WazirX app or web. Click on “Funds” and then on “Deposit INR.”

You can deposit INR using any mode (NEFT/ RTGS/ IMPS).

You can also buy KAS through P2P to the WazirX wallet. The KAS will act as funds to help you buy your favorite cryptos.

Step 5 – Finally, buy KAS on WazirX.

You can now easily purchase KAS tokens using INR Deposits. In the case of P2P trade, check KAS to INR here and USDT from here.

After logging in to your WazirX account, you can choose INR from the “Exchange” tab. You can also check all the price charts, order book data, and an order input form on the right side of the screen.

Click “Buy” after entering the amount and checking the total INR amount to be paid.

Your order will be placed according to the price you have input. And, in the case of P2P trade, a seller willing to sell at a price will be notified, and then you can exchange the tokens using P2P.

The order might take a few minutes to complete, but as soon as it is executed, you will receive the KAS Tokens you purchased in your WazirX wallet.

Happy Trading!

*Above content is migrated from medium to wazirx blog

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.