Israel, 27th Jun 2023 – Kaspa, a pioneering proof-of-work network, announces a historic milestone: achieving 10 Blocks Per Second (BPS) on its testnet, establishing a new benchmark in cryptocurrency.
Kaspa launched Testnet 11, its public experimental network, to achieve this unprecedented block rate. This landmark provides an exciting opportunity for future innovation, inviting developers, crypto-enthusiasts, and innovative minds worldwide to stress-test various approaches and ideas.
“A 10 blocks/sec system is highly sensitive to minor errors or even suboptimal engineering; it requires a deep understanding of p2p consensus modules interplay and top-notch execution capabilities. I hope more devs will join the project, if anything, merely to enjoy the beauty manufactured,” says Yonatan Sompolinsky, Kaspa Founder and co-author of the GHOSTDAG protocol.
Testnet 11 has carried thousands of transactions per second across multiple network nodes on everyday hardware, demonstrating that a proof-of-work protocol can scale without compromising decentralization or security. This pioneering triumph promises significant advancements for anyone eager to explore and expand the boundaries of cryptocurrency possibilities.
Michael Sutton, a distributed systems researcher & Kaspa core developer, reflected on the achievement: “With the advent of GHOSTDAG as a scalable consensus protocol, we have reached a pivotal point where performance becomes paramount. Scaling a cryptocurrency is no longer constrained by the protocol; it now hinges on computation limits. Moreover, the powerful combination of widespread multi-core computers and the inherent parallelism opportunities of DAGs has allowed us to push the boundaries to their limits. This convergence of consensus and high-performance computing (HPC) unlocks untapped potential, propelling us towards new horizons of research and innovation.”
GHOSTDAG co-author Shai Deshe, Kaspa quantum & cryptography researcher, added: “This is the first time a permissionless, public, proof-of-work network has demonstrated four-digit transaction rates directly on the consensus layer while running on affordable hardware. Some of the participants reported running on nine-year-old laptops! We are on track to prove that proof-of-work can actually scale just as well as proof-of-stake, but without the sacrifices to centralization and security. 3000 TPS was unexpectedly easy, pushing the limits, we might find that we can even outperform VISA.”
Kaspa’s achievement is a significant step towards realizing Satoshi Nakamoto’s vision for an efficient, secure, and widely adopted cryptocurrency. With blockDAG technology demonstrating its potential to manage high transaction volumes, Kaspa is not just pushing the boundaries of current capabilities but also paving the way for future innovations. This transformative moment marks a new era in the world of digital currencies, offering broader adoption and unprecedented application opportunities.
Witness this milestone live on Twitch: https://twitch.tv/kaspacurrency
Kaspa is an instant confirmation transaction Layer-1 built on proof-of-work. With the GHOSTDAG protocol, Kaspa circumvents the traditional security-scalability-decentralization tradeoff, enabling high block rates and maintaining top security.
Contact Person: Nathaniel Crowningshield
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