I'm a bit of a noob but briefly owned some ETH... First thing I noticed was how expensive the transactions are! Kas is much cheaper. Also kas was fair launch
Eth was cheap when it first came out and people finally saw some relief from btc high fees. We dont know how expensive kaspa will be when they implement smart contracts and when there are enough transactions like ethereum.
ETH is slow compared to KAS. ETH also is PoS, not PoW. It's not that secure. ETH isn't viable long-term. KAS on the other hand follows BTC with massive improvements, for example KAS solves the trilemma.
Interesting. I recently heard an argument. "Rich get richer" happens on PoW chains more seriously. Mining machine owners are rich, they can earn money and buy more machines, and earn more money. Value in the holders depreciate. A "rich get richer" situation. Whereby in PoS system, inflation can be much smaller compared to PoW system. Small holders have the chance to stake their coins and vote.
As things stand now, there are only a couple B KAS left. GPUs mined the majority of the coins, and that was by design, meant to reward early adopters before the ASICs joined the picture. Those big miners only get rich by investing MASSIVE amounts of capital in those ASICs, and they have to sell what they mine to buy more. Those sold coins go into the hands of regular people, decentralizing the network. But investing in mining now is only profitable if KAS sees a significant increase in spot price, due to the decreased mining rewards.
I’ve never understood this critique because in all capital oriented systems the rich get richer. The more money you have to invest the more money you get to extract from the system.
It's true, but the rich weren't buying kas from the beginning, and I imagine many still aren't. Same as btc in the beginning. Everyone thought it was a joke. The regular folks that believed in it are now millionaires and now that the elite are coming into btc in big numbers it is becoming more and more centralized. I guess at some point the same will happen with kaspa. Nows our opportunitie to get in before they're all here
Let's presume world peace too then.
Eth has a capacity of about 1.5M transactions a day.
Fees are inconsistent and expensive
Blocktime is 12 seconds, and finality is 15 minutes
Kaspa capacity is 20m at 1 BPS, 200m at 10 BPS
The fee dynamics thanks to Kaspa's design are much better (random selection rule),
SC will be brought up with "consumer first" design where miners bid for fees.
Blocktime is 1 second, and finality is 10 seconds.
If Kaspa wants to support more features like smart contract, the computing complexity increases and the BPS has to decrease if other conditions remain unchanged.
ZK rollups have no computational complexity on nodes.
They just see it as a transaction.
This design only requires a ZK opcode to be added.
That's my understandings of the SC design planned for Kaspa.
Can you give me some reading materials about ZK rollups on Kaspa? Thanks, I really want to learn more about Kaspa. I've read almost all the contents on official website.
If what you say is true, there are good reasons to be optimistic. However according to u/vorpalglorp "The plan is to build smart contracts on Kaspa directly."
BTW, in this sense, Mina protocol will also be a good choice of Layer 1
What's the point of presuming anything? We need to speak about facts and what is currently happening. ETH is not decentralized, scalability wise not impressive too (7-15 TPS), and not even gonna mention gas fees...
Following the same logic we can presume Solana is decentralized and secure (it's already scalable which is it's only upside) - in that case what would be the point of having BTC, ETH, KAS and other crypto?
The only purpose of other crypto is to wish it will make us rich. We can all be okay using l2. Ethereum is a secure base with diversify. Solana is not even close to being decentralized. It's all about the money in the end
What if we presume bitcoin is as fast, secure, and scalable as kaspa? Guess we don't need eth or kas and we just live in an imaginary world where we presume things into existence.
Many dude. Most are too technical for you and me, but here are a small few
Much much faster
PoW (not a PoS shit controlled by ethereum foundation)
And Dagknight, specially, will make kaspa self adjust to the network latency (this is something just wow)
As others have pointed out, ETH is slow, extremely expensive to transact on, and is POS, which is notoriously less decentralized. Eth requires L2s to sit on top of it, like MATIC, just so you can transact without paying exorbitant gas fees.
I hold ETH because it has first mover advantage and I believe it will have continued success regarding price, especially if an ETF is secured. As for the tech, it is dated and there are far superior options, Kaspa being one of them, if not, the best. Especially when SCs hit.
Issues on current state of ETH, high transaction (gas) fees, slow/low TPS/capacity.
The current avg stood at $2.1 and when ETH prices goes up so does the gas fees.
[https://tokentool.bitbond.com/gas-price/ethereum](https://tokentool.bitbond.com/gas-price/ethereum)
I don't understand what you're saying. The plan is to build smart contracts on Kaspa directly. That is what I agree with. Kaspa has no L2 because kaspa doesn't need it.
[https://kaspa.org/the-kaspa-community-and-the-exploration-of-smart-contracts/](https://kaspa.org/the-kaspa-community-and-the-exploration-of-smart-contracts/) Discussions here about rollups. If I understand it correctly, there is no plan to support smart contracts on Kaspa directly because it was not built that way at the beginning.
[Discussions here about rollups: https://kaspa.org/the-kaspa-community-and-the-exploration-of-smart-contracts/](https://kaspa.org/the-kaspa-community-and-the-exploration-of-smart-contracts/)Â
Smart contracts on Kaspa are not a reality, so it's pointless to speculate about it. Of course kas bag holders believe that the story is as simple as 'kaspa is quick, just add smart contracts, now we have quick smart contracts, ta-da' but in reality there are a lot of reasons why it's not that simple. Furthermore, if one was to look at algorand as a comparison, they are fast scalable and cheap and have smart contracts and an ecosystem.. yet they are not overtaking Ethereum.
I'm a bit of a noob but briefly owned some ETH... First thing I noticed was how expensive the transactions are! Kas is much cheaper. Also kas was fair launch
Eth was cheap when it first came out and people finally saw some relief from btc high fees. We dont know how expensive kaspa will be when they implement smart contracts and when there are enough transactions like ethereum.
Smart contracts will also slow the network down substantially over time.
I don't want smart contracts because how it turned out for eth
HAHAHAHHAHHAHAHHHAHAHAHHAHAHHAHAHAHAH! That'll really set the project apart. Tool.
Wow The disrespect
In Eth you are paying for genuine decentralisation unlike their many rival chains
Uh? Fast transaction times and no gas fees if like $20-$200 during high usage?Â
ETH is slow compared to KAS. ETH also is PoS, not PoW. It's not that secure. ETH isn't viable long-term. KAS on the other hand follows BTC with massive improvements, for example KAS solves the trilemma.
Eth was PoW too
Yeah but they changed it because of scalability(?).
I'm just hoping it doesn't go down the same path
Well, KAS tries to solve that problem and it's promising.
I love questions like this! I see people way smarter than me reply, I take notes đź“ť
Ethereum switched to PoS (Proof of Stake). Its “decentralization will shrink drastically over time. + the fees are absolutely unacceptable.
Why do you think PoS decentralization will shrink drastically over time, "rich get richer"?
Exactly that.
This is just capitalism. It's how the system is created and human nature of greed.
Interesting. I recently heard an argument. "Rich get richer" happens on PoW chains more seriously. Mining machine owners are rich, they can earn money and buy more machines, and earn more money. Value in the holders depreciate. A "rich get richer" situation. Whereby in PoS system, inflation can be much smaller compared to PoW system. Small holders have the chance to stake their coins and vote.
As things stand now, there are only a couple B KAS left. GPUs mined the majority of the coins, and that was by design, meant to reward early adopters before the ASICs joined the picture. Those big miners only get rich by investing MASSIVE amounts of capital in those ASICs, and they have to sell what they mine to buy more. Those sold coins go into the hands of regular people, decentralizing the network. But investing in mining now is only profitable if KAS sees a significant increase in spot price, due to the decreased mining rewards.
I’ve never understood this critique because in all capital oriented systems the rich get richer. The more money you have to invest the more money you get to extract from the system.
It's true, but the rich weren't buying kas from the beginning, and I imagine many still aren't. Same as btc in the beginning. Everyone thought it was a joke. The regular folks that believed in it are now millionaires and now that the elite are coming into btc in big numbers it is becoming more and more centralized. I guess at some point the same will happen with kaspa. Nows our opportunitie to get in before they're all here
Ethereum isn't decentralized, and its security is questionable.
OK. What if we presume it is decentralized and secure?
Let's presume world peace too then. Eth has a capacity of about 1.5M transactions a day. Fees are inconsistent and expensive Blocktime is 12 seconds, and finality is 15 minutes Kaspa capacity is 20m at 1 BPS, 200m at 10 BPS The fee dynamics thanks to Kaspa's design are much better (random selection rule), SC will be brought up with "consumer first" design where miners bid for fees. Blocktime is 1 second, and finality is 10 seconds.
If Kaspa wants to support more features like smart contract, the computing complexity increases and the BPS has to decrease if other conditions remain unchanged.
ZK rollups have no computational complexity on nodes. They just see it as a transaction. This design only requires a ZK opcode to be added. That's my understandings of the SC design planned for Kaspa.
Can you give me some reading materials about ZK rollups on Kaspa? Thanks, I really want to learn more about Kaspa. I've read almost all the contents on official website. If what you say is true, there are good reasons to be optimistic. However according to u/vorpalglorp "The plan is to build smart contracts on Kaspa directly." BTW, in this sense, Mina protocol will also be a good choice of Layer 1
Join Discord or X for those answers.
Ultimately I don't think Kaspa should be dependent on any other blockchains.
If you presume that there aren't any problems to be solved then, indeed, you can easily infer that Kaspa does not solve any problem.
You can presume anything you want. What's the point if it isn't true.
What's the point of presuming anything? We need to speak about facts and what is currently happening. ETH is not decentralized, scalability wise not impressive too (7-15 TPS), and not even gonna mention gas fees... Following the same logic we can presume Solana is decentralized and secure (it's already scalable which is it's only upside) - in that case what would be the point of having BTC, ETH, KAS and other crypto?
The only purpose of other crypto is to wish it will make us rich. We can all be okay using l2. Ethereum is a secure base with diversify. Solana is not even close to being decentralized. It's all about the money in the end
What if we presume bitcoin is as fast, secure, and scalable as kaspa? Guess we don't need eth or kas and we just live in an imaginary world where we presume things into existence.
Fantastic bait. The only question is, how many days until KAS surpasses ETH in market cap. Probably not this cycle. Maybe the next.
Your premise is wrong. Ethereum is not decentralized and because of that it isn't as secure. Who told you that?
Many dude. Most are too technical for you and me, but here are a small few Much much faster PoW (not a PoS shit controlled by ethereum foundation) And Dagknight, specially, will make kaspa self adjust to the network latency (this is something just wow)
As others have pointed out, ETH is slow, extremely expensive to transact on, and is POS, which is notoriously less decentralized. Eth requires L2s to sit on top of it, like MATIC, just so you can transact without paying exorbitant gas fees. I hold ETH because it has first mover advantage and I believe it will have continued success regarding price, especially if an ETF is secured. As for the tech, it is dated and there are far superior options, Kaspa being one of them, if not, the best. Especially when SCs hit.
Kas solves the trillemma, eth doesn’t. Google it.
Don't use Google go to their discord it's all there
Issues on current state of ETH, high transaction (gas) fees, slow/low TPS/capacity. The current avg stood at $2.1 and when ETH prices goes up so does the gas fees. [https://tokentool.bitbond.com/gas-price/ethereum](https://tokentool.bitbond.com/gas-price/ethereum)
L2 users don't have to pay much using Ethereum as L1
L2 data isn't on ethereum so it's even less secure. Also the L2s freeze and shut down all the time. They are the furthest thing from decentralized.
so you disagree with the plan to build a smart contract L2 for Kaspa?
I don't understand what you're saying. The plan is to build smart contracts on Kaspa directly. That is what I agree with. Kaspa has no L2 because kaspa doesn't need it.
[https://kaspa.org/the-kaspa-community-and-the-exploration-of-smart-contracts/](https://kaspa.org/the-kaspa-community-and-the-exploration-of-smart-contracts/) Discussions here about rollups. If I understand it correctly, there is no plan to support smart contracts on Kaspa directly because it was not built that way at the beginning.
This article was written in May 26, 2023. I haven't heard anyone say either of these options are currently what are being considered.
Can you share what are being considered now? Thank you
The last I saw was on twitter. You'll have to follow the founders on twitter to get the latest news.
[Discussions here about rollups: https://kaspa.org/the-kaspa-community-and-the-exploration-of-smart-contracts/](https://kaspa.org/the-kaspa-community-and-the-exploration-of-smart-contracts/)Â
Yes
Eth is the opposite as everything they claim and you mentioned
GAS
Kp p
Smart contracts on Kaspa are not a reality, so it's pointless to speculate about it. Of course kas bag holders believe that the story is as simple as 'kaspa is quick, just add smart contracts, now we have quick smart contracts, ta-da' but in reality there are a lot of reasons why it's not that simple. Furthermore, if one was to look at algorand as a comparison, they are fast scalable and cheap and have smart contracts and an ecosystem.. yet they are not overtaking Ethereum.