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Proof-of-Work Altcoin Defies Market Doldrums and Surges by 25% This Week Ahead of New Token Standard Launch

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A proof-of-work, layer-1 altcoin has defied the crypto market doldrums and surged by 25% this week forward of an upcoming protocol launch.

Kaspa (KAS), which payments itself as “the quickest, open-source, decentralized and totally scalable layer-1 on this planet,” is buying and selling round $0.18 at time of writing, up from $0.144 seven days in the past.

The Twenty seventh-ranked crypto asset by market cap can also be up greater than 6.5% up to now 24 hours.

KAS’ positive factors have materialized as Kasplex, a protocol for the Kaspa ecosystem, will get nearer to its open beta, which kicks off on June thirtieth.

The Kasplex Protocol plans to introduce the brand new KRC-20 token normal and help the creation and administration of non-fungible tokens (NFTs) on the Kaspa community.

Explains Kasplex’s whitepaper,

“The first precept guiding the protocol’s design is to keep away from imposing unfavourable results on Kaspa, in contrast to sure protocols that contribute to the ‘UTXO bloat’ problem in Bitcoin. Kasplex supplies an easy strategy to information insertion, supplemented by an open-source indexer and a set of APIs, enabling seamless interplay with the protocol.

By adopting Kasplex, builders, artists, and influencers can leverage the Kaspa community to create, handle, and switch digital property effectively and securely, selling innovation and development throughout the Kaspa community.”

Generated Picture: Midjourney

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