Ashton retweeted
I afree with Alex that a decentralized stable coin is probably the most practical approach to kickstart the Kaspa defi market
Thank you for this tweet, @KaspaSilver. I am going to address your concerns, piece by piece.
Concern 1 & 2: "Missing whitepaper, and no R&D"
I understand your point about the missing whitepaper. This is still in progress as it needs to be written in a certain way and have the necessary proofs, statements in order to bring the value that a whitepaper does. It is totally acceptable to be wary of donating before you see a concrete spec. The reasoning behind opening the fundraiser before those are finished is primarily for brand awareness, the fundraiser progress so far has exceeded my expectations.
It is not the case that no R&D has been done earlier, in fact I have been working on the stablecoin initiative for the last 6 months already, where primarily focus has been on communicating with centralized issuers. Unfortunately, centralized issuers are resistant to deploying on Kaspa for primarily two reasons:
1. because of the lack of anticipated volume.
2. because the needed infrastructure is missing.
I, of course disagree with this statement as there can be no volume without DeFi, hence it is a chicken and egg problem. The implementation of @KaspaDollar, would therefore not be "just a stablecoin from scratch" but a:
1. fully decentralized stablecoin
2. build the needed infrastructure that centralized issuers need in order to operate
3. bring the first needed volume in order to validate Kaspa's DeFi potential that is needed for issuers to bring their assets.
Therefore, @KaspaDollar is indirectly an effort to bring USDC/USDT onchain.
Concern 3: "Decentralized stablecoins are problematic."
Decentralized stablecoins utilize a decentralized asset as collateral, this means they are backed by whatever the collateral is most usually traded against, which for now is the U.S dollar.
When it comes to regulation the situation is complex, however we can break it down:
1. Looking at EU, MiCA (Regulation (EU) 2023/1114), Recital 22 it is stated that: "where crypto-asset services are provided in a fully decentralised manner without any intermediary, they should not fall within the scope of this Regulation" and "where crypto-assets have no identifiable issuer, they should not fall within the scope of Title II, III or IV".
2. Looking at, US, GENIUS Act (signed July 18 2025), Sec. 2 defines a "payment stablecoin" as a digital asset whose issuer is obligated to convert or redeem it for a fixed amount of monetary value. In our case, @KaspaDollar has no identifiable issuer.
3. The freeze/blacklist requirement you are referring to is Sec. 4(a)(6) of the same act, and it applies to "permitted payment stablecoin issuers", i.e. centralized issuers like USDT and USDC.
4. Freeze and blacklist functions exist because a company holds USD in a bank and is a regulated entity. There is neither a bank account behind @KaspaDollar nor a company behind it. There will be no developer fees and no upgradability. This will also apply to the oracle itself.
Concern 4: "Decentralized stablecoins are hard to list on exchanges"
The current market situation says the contrary:
1. DAI/USDS is listed on Binance, Coinbase, OKX, Bybit, MEXC, Kraken etc. and has no freeze functionality. Now it is true that they have the possibility to enable this, but at its current stage it is still unfreezable yet listed on most major CEX's.
But more importantly, a CEX listing is not the goal for @KaspaDollar and having this expectation, misses the point what it is for.
DAI was not built to be traded on Binance, it existed so that Ethereum DeFi had a stable value of account that lived onchain. Following its creation, everything else was built on top of it.
On Kaspa, we have the same gap today:
1. there is no dollar on L1,
2. no stable pair for a DEX,
3. no stable asset to lend or borrow against,
4. no way to take profit without leaving the chain,
5. no reason for anyone to build any of that.
Every DeFi primitive starts with a stable unit of account, and there is not going to be one from a centralized issuer without having seen some kind of evidence that sufficient volume is to be expected. Therefore, @KaspaDollar is the first one to take on that risk.
So the order that I believe in is not: "get USDT, then DeFi". It is "create a decentralized native stablecoin, build the DeFi, show the volume, and then the issuers come".
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Ashton retweeted
watching the timeline with awe. human beings in a world of ai superintelligence. how humbling. @hashdag, crypto and defi need fundamental redesigns, i think you should be leading with more determination / visibility.
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Ashton retweeted
@mcuban @kevinolearytv @elonmusk @jackmallers @garyvee @GaryCardone @GrantCardone @cameron @tyler @winklevosscap @cypherpunk @Gemini
Check this out! 👀
Check this out! 👀
Bitcoin had Miami.
Ethereum had DEVCON.
Now it’s Kaspa’s turn.
Introducing the Kaspa Conference: a 4-day experience bringing together builders, investors, and the $KAS community.
And we’re investing up to $1,000,000 in Kaspa startups.
Here’s what we’re building. 🧵
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Ashton retweeted
We’re investing up to $1,000,000 in Kaspa startups.
Bitcoin had Miami.
Ethereum had DEVCON.
Now it’s Kaspa’s turn.
Introducing the Kaspa Conference: a 4-day experience bringing together builders, investors, and the $KAS community.
And we’re investing up to $1,000,000 in Kaspa startups.
Here’s what we’re building. 🧵
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Ashton retweeted
I think in the next few months we will see the most crucial moment for $KAS, when it comes to adoption. Let's work together, for real utility.
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Ashton retweeted
Kas the coin can also be 'tokenized' as a kcc-20.
the need may not be very clear to everyone, but basically: my L1 app may want to uniformly manage kcc-20 and Kas the coin, without extra 'custom code'.
@manyfest_ details one of the direct use-case.
i have been convinced that designing kas-20 correctly only gives benefit with no tradeoff.
is it possible to have such an atomic covenant transaction that:
1. convert Kas to kas-20
2. trade it for the Many kcc-20 token
(=without adding one extra conversion step)
the need may not be very clear to everyone, but basically: my L1 app may want to uniformly manage kcc-20 and Kas the coin, without extra 'custom code'.
@manyfest_ details one of the direct use-case.
i have been convinced that designing kas-20 correctly only gives benefit with no tradeoff.
is it possible to have such an atomic covenant transaction that:
1. convert Kas to kas-20
2. trade it for the Many kcc-20 token
(=without adding one extra conversion step)
Onwards!
KCC-20 lets us create tokens that work together through a shared interface. Native KAS is a fungible token as well, but it isn’t a KCC-20 token.
Imagine a DEX, for example. KCC-20 lets us write a generic pool covenant that supports any pair of KCC-20 tokens. But if one side of the pair is KAS, we’d need special logic to handle it.
Representing KAS as a KCC-20 token would let covenants handle KAS the same way they handle other KCC-20 tokens. There could be different implementations and deployments of a KAS-backed KCC-20 token, but it would be beneficial to agree on a single one to avoid fragmentation.
I'm proposing a simple implementation, KAS20. Join the discussion on Kas-Smiths:
kas-smiths.org/t/a-kas-backed…
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Ashton retweeted
I like! This is a really simple and inexpensive way to significantly reduce the quantum threat to Kaspa users.
Traditional addresses expose the public key controlling the funds. A sufficiently powerful quantum computer could derive the private key from that public key and steal the funds.
KIP-22 proposes a simple change: instead of exposing the public key, an address commits to a cryptographic hash (a fingerprint) of the spending conditions. The public key stays hidden, and unlike elliptic-curve cryptography, strong cryptographic hashes remain highly resistant to quantum attacks.
Only when we spend the funds do we reveal the necessary information for the network to verify the transaction.
There is still a theoretical attack vector where an attacker could intercept a spending transaction, derive the private key, and attempt to front-run the original transaction. But since PoW relies on hashing, which is far more resistant to quantum attacks, the network should remain operational and continue confirming transactions, leaving an attacker with only a very narrow window to act.
Exploiting this would require not just a quantum computer capable of breaking public-key cryptography, but one powerful enough to do this faster than the network converges. On Kaspa, that means just a few seconds. That's a much stronger "theoretical adversary," and it's unclear whether such a machine will ever exist.
Personally, I doubt quantum computers will ever be able to break public-key cryptography at realistic key sizes (I suspect that Hilbert space itself is discrete and has a much coarser resolution than commonly assumed, but that's a different topic).
So TL;DR: KIP-22 isn't a "complete" post-quantum solution, but it's an elegant, relatively low-cost way to significantly reduce the attack surface for quantum adversaries.
Traditional addresses expose the public key controlling the funds. A sufficiently powerful quantum computer could derive the private key from that public key and steal the funds.
KIP-22 proposes a simple change: instead of exposing the public key, an address commits to a cryptographic hash (a fingerprint) of the spending conditions. The public key stays hidden, and unlike elliptic-curve cryptography, strong cryptographic hashes remain highly resistant to quantum attacks.
Only when we spend the funds do we reveal the necessary information for the network to verify the transaction.
There is still a theoretical attack vector where an attacker could intercept a spending transaction, derive the private key, and attempt to front-run the original transaction. But since PoW relies on hashing, which is far more resistant to quantum attacks, the network should remain operational and continue confirming transactions, leaving an attacker with only a very narrow window to act.
Exploiting this would require not just a quantum computer capable of breaking public-key cryptography, but one powerful enough to do this faster than the network converges. On Kaspa, that means just a few seconds. That's a much stronger "theoretical adversary," and it's unclear whether such a machine will ever exist.
Personally, I doubt quantum computers will ever be able to break public-key cryptography at realistic key sizes (I suspect that Hilbert space itself is discrete and has a much coarser resolution than commonly assumed, but that's a different topic).
So TL;DR: KIP-22 isn't a "complete" post-quantum solution, but it's an elegant, relatively low-cost way to significantly reduce the attack surface for quantum adversaries.
Published KIP 22 to help Kaspa users better protect their funds from future quantum attackers by keeping public keys hidden until spending
github.com/kaspanet/kips/…
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Check out @UseArtisan 👇 I was lucky enough to get in as an early beta tester and it is amazing!
Visa Card, Bill Pay, 6%+ Yield, and Send Payments straight to Venmo, Paypal, CashApp, your Landlord, and even the Pool and Landscaping guys.
All from a self-custodial wallet! If you're in the US, you can now live your financial life sovereignly and onchain.
Visa Card, Bill Pay, 6%+ Yield, and Send Payments straight to Venmo, Paypal, CashApp, your Landlord, and even the Pool and Landscaping guys.
All from a self-custodial wallet! If you're in the US, you can now live your financial life sovereignly and onchain.
My boss told me not to post this.
Roast him.
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Ashton retweeted
🚀 Kaspa Miners Are Staying
Kaspa miners earn about a third less than three weeks ago, and they have not switched off. The hash rate sits at about 379 petahash. A mining machine pays off over many…
$KAS #kaspa #cryptomining
Try Premium for 7 days:
mybtcguy.com/CUGQLqcj
Kaspa miners earn about a third less than three weeks ago, and they have not switched off. The hash rate sits at about 379 petahash. A mining machine pays off over many…
$KAS #kaspa #cryptomining
Try Premium for 7 days:
mybtcguy.com/CUGQLqcj
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Ashton retweeted
Kaspa Privacy Initiative — Development Update
Following my conversation with @michaelsuttonil, we set out to test whether Kaspa's Based Apps and KIP-21 could provide the foundation for a shielded native KAS protocol.
The feasibility PoC on TN10 is now complete!
Across PRs ted:
✅ Real Kaspa L1 lane ordering
✅ Execution with cryptographic ZK proofs
✅ Proof-based settlement accepted by Kaspa
✅ Rejection of deliberately omitted operations
✅ State reconstruction and successful native KAS withdrawal after executor downtime
This is a significant step forward. Rather than building our own transaction-ordering infrastructure, we can potentially build on capabilities already available in Kaspa.
We've also added a new design principle in PR #34: future protocol upgrades should preserve users' access to their funds and aim to enable privacy-preserving migration between versions.
Now comes the part we've been working towards: actual financial privacy.
Our next milestone is a shielded payment cycle: Alice deposits native test-KAS, privately pays Bob, and Bob withdraws native test-KAS.
We'll begin by designing the private notes, commitments, nullifiers and ZK proof rules needed to make that possible.
The Based App PoC demonstrates technical feasibility within its tested scope. It is not yet a privacy protocol, an independently audited system or a final architecture decision.
But we're moving from proving the infrastructure to building the privacy layer itself.
All research remains open source. Technical feedback and contributions are welcome!
github.com/olafweller/kas…
Following my conversation with @michaelsuttonil, we set out to test whether Kaspa's Based Apps and KIP-21 could provide the foundation for a shielded native KAS protocol.
The feasibility PoC on TN10 is now complete!
Across PRs ted:
✅ Real Kaspa L1 lane ordering
✅ Execution with cryptographic ZK proofs
✅ Proof-based settlement accepted by Kaspa
✅ Rejection of deliberately omitted operations
✅ State reconstruction and successful native KAS withdrawal after executor downtime
This is a significant step forward. Rather than building our own transaction-ordering infrastructure, we can potentially build on capabilities already available in Kaspa.
We've also added a new design principle in PR #34: future protocol upgrades should preserve users' access to their funds and aim to enable privacy-preserving migration between versions.
Now comes the part we've been working towards: actual financial privacy.
Our next milestone is a shielded payment cycle: Alice deposits native test-KAS, privately pays Bob, and Bob withdraws native test-KAS.
We'll begin by designing the private notes, commitments, nullifiers and ZK proof rules needed to make that possible.
The Based App PoC demonstrates technical feasibility within its tested scope. It is not yet a privacy protocol, an independently audited system or a final architecture decision.
But we're moving from proving the infrastructure to building the privacy layer itself.
All research remains open source. Technical feedback and contributions are welcome!
github.com/olafweller/kas…
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Ashton retweeted
Let's get Ted to chart Kaspa, $KAS! 💚
Reply to his post with the ticker and let's get his attention for some free exposure! 👇
x.com/TedPillows/sta…
Reply to his post with the ticker and let's get his attention for some free exposure! 👇
x.com/TedPillows/sta…
Want me to analyse a chart?
Send me the ticker, and I’ll chart the 2 most-liked tickers.
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Ashton retweeted
We’re excited to see this! Great work, @kaspagrowth
UPDATE: 🇫🇷 Kaspa Hackathon at EPITA Paris - minimum funding reached. We’re moving forward! 🎉
Thanks to our generous contributors thus far! 💚 Help us fund the next generation of Kaspa builders.
More builders → more adoption.
Support & repost👇
kasmap.org
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Ashton retweeted
Check us up 🙂
New lending platform - kaskad:native token to be deployed soon, currently available on another chain (Igra) and tradable on @MEXC
New lending platform - kaskad:native token to be deployed soon, currently available on another chain (Igra) and tradable on @MEXC
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Ashton retweeted
KCC-20 has officially moved to Last Call status.
Developing software and developing standards are very different.
Software aims to solve a specific problem. A standard aims to define a general foundation for a wide class of solutions.
A special thanks to @michaelsuttonil , who t to finish , guided me in how to approach this complex craft.
Developing software and developing standards are very different.
Software aims to solve a specific problem. A standard aims to define a general foundation for a wide class of solutions.
A special thanks to @michaelsuttonil , who t to finish , guided me in how to approach this complex craft.
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