Life Without Parameters

EurekAlert! is managed by the American Association for the Advancement of Science (AAAS), serving as a hub where various research organizations share their findings with the media. This Kaspa’s latest Press Release with the most recent info. Since Kaspa is welcoming computer science researchers and developers worldwide, I thought it was important to update following enclosed Press Release.

We're thrilled to have you join us on this momentous journey through the vast and often bewildering landscape of Kaspa's technology, community, and ever-expanding impact in our increasingly decentralized world. If you're wondering what we're all about, think of Parameterless as your dedicated tour guide, cutting a clear path through the thicket of decentralized finance (DeFi) without parameters. We're here to demystify the Kaspa and its technology and show you its full potential.

And what better way to kick off our maiden voyage than by diving headfirst into the news that's creating ripples across the crypto universe? In a stunning feat of engineering prowess, Kaspa, the pioneering proof-of-work network, has scaled a towering peak by achieving an unprecedented 10 Blocks Per Second (BPS) on its Testnet 11. This is a colossal achievement for those who aren't crypto-savvy (and hey, no shame in that, we're all here to learn!). It's like Kaspa has just broken the sound barrier but for cryptocurrency. The block barrier; flying at block 10 speeds.

To kick off this newsletter, let's dive into the latest press release of this incredible accomplishment, unpacking the complex terminology and concepts into digestible nuggets of wisdom. We'll explore this milestone and its meaning for Kaspa, the wider crypto community.

Cryptocurrency Milestone: Kaspa Hits Record 10 Blocks Per Second

Testnet 11 Redefines Proof-of-Work Network Speed Standards

In a momentous event for the cryptocurrency industry, Kaspa, an innovator of proof-of-work consensus, has announced a remarkable feat: the attainment of 10 Blocks Per Second (BPS) on its testnet, a ground-breaking achievement that sets a new benchmark in the fields of cryptocurrency, cryptography, and high-performance computing.

This unprecedented block rate was realized via Kaspa's Testnet 11, an open experimental network that invites global participation from developers, cryptocurrency enthusiasts, and creative thinkers to extensively test a wide array of stress simulations and operations, driving forward not only the boundaries of cryptocurrency applications but also propelling the advancements in the amalgamation of consensus and computational performance.

Critical to achieving this breakthrough was the implementation of a new Rust codebase. Known for its performance, reliability, and memory efficiency, Rust is a programming language that offers unique benefits for blockchain development. This new codebase streamlined the network operations, handling thousands of transactions per second and driving forward the scalability of cryptocurrency applications.

Kaspa's Founder and GHOSTDAG protocol co-author, Yonatan Sompolinsky, elaborated on the sophistication required for this development, "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."

Testnet 11, propelled by Kaspa's newly-implemented Rust codebase, demonstrated computational efficiency by processing thousands of transactions per second across numerous network nodes using standard hardware. This validated the scalability of a proof-of-work protocol without jeopardizing decentralization or security, offering substantial opportunities for the future of digital currency and information processing courtesy of the streamlined and secure features of the Rust language.

Reflecting on this accomplishment, Michael Sutton, a leading researcher in distributed systems and a core developer at Kaspa, stated, "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 a compelling remark: "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."

This milestone is a decisive leap towards realizing Satoshi Nakamoto's vision for an efficient, secure, and globally adopted cryptocurrency. By demonstrating the blockDAG technology's potential to handle high transaction volumes, Kaspa pushes digital currency limits while shaping future advancements in cryptocurrency and high-performance computing. This event signals a new era in digital currencies, fostering wider adoption and unprecedented application possibilities.

About Kaspa:

Kaspa, a cutting-edge Layer-1 platform, offers instant transaction confirmations and is built on a robust proof-of-work engine. Employing the GHOSTDAG protocol, Kaspa circumvents the traditional blockchain trilemma of security-scalability-decentralization. It enables high block rates, upholds unparalleled security, and positions itself at the cryptocurrency forefront.

Website: https://kaspa.org

Twitter: https://twitter.com/KaspaCurrency

Medium: http://medium.com/kaspa-currency

Nathaniel Crowningshield

Kaspa

[email protected]

What does this mean to you and me?

Well, picture the last time you sent an email. It was probably pretty quick, right? Imagine sending 10 of those in a single second, and imagine each email is unique and has a slew of custom motivational quotes you hand-picked for each staff member to boost office morale, also known as financial transactions. That's a whole new level of efficiency, my friend.

Kaspa's founder, Yonatan Sompolinsky, dropped a bit of wisdom on us:

It might initially hit your ear like the result of a frantic air-traffic controller debating in a foreign dialect. But let's detangle that a bit.

Imagine watching a world-class orchestra where every single musician is a virtuoso. From the delicate strains of the first violin to the commanding boom of the timpani, each instrument is crucial to the symphony's performance. The harmony suffers if just one musician hits a sour note or misses their cue. That's precisely what Yonatan is getting at. A system that operates at 10 blocks per second is like this orchestra - every element, every tiny detail, must be in perfect harmony. There's zero room for off-notes or missed beats; otherwise, the entire performance - or, in this case, the processing speed - is compromised.

But, as any true artist will tell you, there's beauty in that challenge. It pushes us beyond our comfort zone, beyond 'good enough.' It demands nothing less than perfection, and that pursuit of perfection is a melody many developers find irresistible. Yonatan isn't merely stating the technical feats they've achieved; he's laying down the gauntlet, extending an invitation to all developers to join in the symphony and experience the exquisite challenge and beauty of orchestrating the perfect blockchain performance. It's a golden ticket to the grandest concert in the crypto sphere - The Goldilocks zone of blockDAGs.

As Michael Sutton, a Kaspa core developer and the guy who probably gets asked to fix computers by his family a lot, put it:

Ever watch a Formula 1 race? Each race is a fascinating display of precision engineering, fearless driving, and the strategic interplay between the two. The driver's skill is vital, but without a high-performance vehicle beneath him, even the best driver can't win the race. The driver here is analogous to the protocol - the rules and guidelines that dictate how the system should work. The high-performance vehicle? That's the computational power we have at our disposal.

Michael is saying they've reached a point where it's not just about having the best driver (or the most robust protocol) but also a souped-up, finely-tuned car (high computational power) that can push the driver's abilities to the limit. The rules of the race are already set; now it's about how fast and efficient the car can be.

He also mentions "widespread multi-core computers" and "inherent parallelism opportunities of DAGs." That's like having a fleet of ultra-efficient, hyper-tuned race cars at your disposal. Each of these cars (or multi-core computers) can operate independently yet in sync as a whole race team due to the parallelism opportunities of DAGs (Directed Acyclic Graphs - a fancy term for a particular way of organizing data). It's like having multiple racers driving simultaneously as a team, with every racer pushing the boundaries of speed and efficiency.

Shai Deshe, GHOSTDAG co-author and a dude who definitely knows his quarks from his quacks, chipped in as well:

You've been invited to a fancy gala with a strict dress code, and you love to stick it to the man. So instead of arriving in an expensive designer outfit, you rock up in your comfy old jeans and a decade-old, faded Run-DMC band tee. But not only do you make it past the velvet ropes, but you also outshine everyone else on the dance floor. That's essentially what Kaspa did here.

Shai is talking about showing up to the crypto party in what many might consider 'last season's fashion' (a proof-of-work network) and not just fitting in but becoming the life of the party. They've pulled off a feat of epic proportions, dancing to the tune of four-digit transaction rates, all while running on what might be considered the crypto world's equivalent of a vintage pair of Levis (nine-year-old laptops).

They're proving that the old can be just as good as the new - that proof-of-work can keep up with the freshest kid on the block, proof-of-stake, without giving up the core principles of decentralization and security. The impressive bit is that they've not only kept pace but potentially exceeded expectations. Hitting 3000 transactions per second, as if it was a walk in the park for them, and they're hinting at potentially outperforming VISA - that's like going from breakdancing in your old jeans at the gala to challenging the DJ for his booth. It's a breathtaking prospect and one that will undoubtedly keep the traditional finance world (TradFi) on its toes.

Kaspa is making significant strides towards fulfilling Satoshi Nakamoto's dream of an efficient, widely adopted cryptocurrency that is used really for practical everyday transactions! They're taking the prototype technology that's been around for a while, tweaking it, tuning it, and revving it up, pushing it to the very brink of its capabilities. It's an exciting time; if you're reading this, you're right in the thick of it.

Kaspa is only just beginning this expedition into the thrilling, intricate world of consensus and high computing. Exploring DeFi without parameters. You're here early.

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