A layer-1 altcoin, known as Kaspa (KAS), has defied the stagnant crypto market and experienced a remarkable 25% surge this week ahead of its upcoming protocol launch. Kaspa, which prides itself on being the fastest, open-source, decentralized, and fully scalable layer-1 in the world, is currently trading at around $0.18, up from $0.144 seven days ago. As the 27th-ranked crypto asset by market cap, it has also seen a 6.5% increase in the past 24 hours.
The recent gains of KAS can be attributed to the imminent launch of Kasplex, a protocol designed for the Kaspa ecosystem. Kasplex is set to enter its open beta phase on June 30th. One of the key features of the Kasplex Protocol is the introduction of the new KRC-20 token standard, as well as support for the creation and management of non-fungible tokens (NFTs) on the Kaspa network.
According to the whitepaper of Kasplex, the protocol’s design aims to prevent any negative impact on Kaspa, unlike certain protocols that contribute to the “UTXO bloat” problem in Bitcoin. Kasplex offers a simple approach to data insertion, along with an open-source indexer and a suite of APIs, facilitating seamless interaction with the protocol. By adopting Kasplex, developers, artists, and influencers can utilize the Kaspa network to efficiently and securely create, manage, and transfer digital assets, thereby promoting innovation and growth within the network.
Stay updated with the latest news by subscribing to our email alerts. Remember to exercise caution and conduct thorough research before investing in Bitcoin, cryptocurrency, or digital assets, as they carry a high level of risk. Any transfers or trades you make are done at your own risk, and you are solely responsible for any potential losses. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor do we provide investment advice. Please note that The Daily Hodl engages in affiliate marketing.
[Image: Midjourney]
