Kaspa Unveils New Token Standard Positive Cryptocurrency Price Reactions

The altcoin Kaspa (KAS) is defying the downturn in the cryptocurrency market, surging 25% this week ahead of the release of its main protocol.
With Kaspa’s new Kasplex protocol set to launch its public test version on 30 October, it has caught the attention of the cryptocurrency community.
Kasplex aims to implement the KRC-20 token standard and support the creation and management of NFTs on the network. According to a whitepaper, The Kasplex protocol aims to address “UTXO bloat” issues seen in Bitcoin. (ulky UTXO refers to when a blockchain becomes too large for validators to efficiently process data).
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The project offers a simple data insertion method supported by an open-source and a set of APIs for seamless interaction.
This new protocol is expected to allow users to efficiently, securely create, manage, and transfer digital assets on the Kaspa network, thereby encouraging innovation and growth. With these upcoming developments, the Kaspa ecosystem is poised to have significant impact in the cryptocurrency space.
Following a 6% surge in past0.18 hours, Kaspa’s current trading price stands at around $24.