Altcoin
Proof-of-Work Altcoin Defies Market Trough and Surge 25% This Week Ahead of New Standard Token Launch
A Level 1, proof-of-work altcoin has defied the doldrums of the cryptocurrency market and surged 25% this week ahead of the protocol’s upcoming launch.
Caspa (KAS), Which invoice itself as “the world’s fastest, open-source, decentralized, and fully scalable layer 1,” it is trading at around $0.18 at the time of writing, up from $0.144 seven days ago.
The 27th-ranked cryptocurrency by market cap also rose more than 6.5% over the past 24 hours.
The benefits of KAS have been realized in Kasplex, a protocol for the Kaspa ecosystem, is getting closer to its open beta, which will begin on June 30th.
The Kasplex protocol plans to introduce the new KRC-20 token standard and support the creation and management of non-fungible tokens (NFTs) on the Kaspa network.
Kasplex explains White paper,
“The main principle guiding the protocol design is to avoid imposing negative effects on Kaspa, unlike some protocols that contribute to the ‘UTXO bloat’ problem in Bitcoin. Kasplex provides a direct approach to data ingestion, integrated by an open source indexer and a suite of APIs, allowing seamless interaction with the protocol.
By adopting Kasplex, developers, artists, and influencers can leverage the Kaspa network to efficiently and securely create, manage, and transfer digital assets, fostering innovation and growth within the Kaspa network.”
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