KaspaEVM Whitepaper
Last updated
Last updated
KaspaEVM is am ambitious project to becoming one of the first sidechains to offer smart contract capabilities to the Kaspa ecosystem. The KaspaEVM chain will utilize the KaspaEVM (KASEVM) coin to pay for transaction fees and to deploy smart contracts on the network. The KaspaEVM coin will be backed and always redeemable 1-to-1 with Kaspa through the Wanchain bridge (read the doc section on Wanchain). We will not stop at building the smart contract sidechain, but we will also work on a complete ecosystem for the Kaspa community. This will potentially include a decentralize exchange, lending and borrowing platform, over collateralizes stable coins, etc.
Our mission in creating the KaspaEVM blockchain is not simply for it to be a sidechain that has EVM smart contract functionality, but for it to also have cheap transaction fees, be highly scalable and decentralized. Our breakthrough Tree-Graph consensus algorithm uses parallel processing of blocks and transactions to lower confirmation times and increase TPS. Our Fee Sponsorship Mechanism allows users with zero wallet balance to still engage with blockchain. Sponsors pay a portion or all of another user’s transaction fees to help with user onboarding. The blockchain allows anyone who meets to staking collateral requirements to run nodes which will lead to a decentralized blockchain. The KaspaEVM blockchain will have ZERO staking rewards or emissions of the KaspaEVM coin. This is to keep the max supply of the KaspaEVM coin the same as the Kaspa PoW Coin. Nodes, validators, and archive nodes will need to be incentivized through alternate means to securing the network.
The development company that is contracted to build the KaspaEVM sidechain is WiseSoft LLC A.K.A Wise Token, Wise Lending, and DefiDevShop.
WiseSoft LLC is known for the creation of multiple unique DeFi products and Dapps. Such products include the Wise Token that has over one hundred million dollars in liquidity as well as the Wise Lending platform that allows individuals to borrows and lend cryptocurrency assets while also earning yield. More information on the overall WiseSoft team is located in the WiseSoft LLC LinkedIn profile.
