image: Kaspa's Testnet 11 in action: This dynamic snapshot captures the breakthrough achievement of processing 10 Blocks Per Second, a feat achieved through the implementation of the Rust programming language. The image provides a glimpse into the groundbreaking block rate realized in this open experimental network, demonstrating the potential of proof-of-work consensus to shape the future of cryptocurrency, cryptography, and high-performance computing. view more
Credit: kaspa.org
ISRAEL, June 30, 2023 -- 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
Method of Research
Computational simulation/modeling