Last week, Kaspians descended upon the Web3 Festival in Hong Kong, including a few Kaspian keynote speakers at the conference and Kaspa-specific side events. This week, the Kaspa Ecosystem Foundation (KEF) released a playlist of the key talks and panels. Highlights from the conference include Dr. Yonatan Sompolinsky’s talk, L1 and L2 Ordering Games & MEV Extraction (Discussed in a previous The Weekly Knight). Panels included Exploring Optimal zk Technologies for UTXO-Based Layer 1 Protocols and Proof-of-Work Based RWA: Why Decentralization Matters for Tokenization. There were also presentations from the Kasplex, IGRA Labs teams, and KEF members. 

Some of the highlights are discussed below.

Junny’s Talk at Web3 Festival in Hong Kong

Junhao, "Junny," Executive Vice President of the Kaspa Foundation, delivered a talk entitled Crypto is More of Moral Nihilism? or Relativism? Who Needs Permissionless and Trustlessness? At the Web3 Festival in Hong Kong. ​He began by highlighting the crypto community's original ethos: a pursuit of trustlessness and permissionlessness to safeguard against government censorship and to ensure individual freedom to access and own financial assets and data. However, he noted a disconcerting shift in focus towards institutional acceptance, such as Wall Street's involvement and the anticipation of ETFs, which may dilute these foundational principles.​

Junny emphasized the importance of permissionless systems, arguing that true ownership of digital assets requires open-source blockchain protocols that allow anyone to participate without significant barriers. He criticized networks like Solana for their high entry costs, which can create invisible barriers and undermine decentralization. 

We agree with Junny, especially with his critique of Solana. For additional reading, Lyn Alden offers a poignant critique of Solana in her article, Proof-of-Stake and Stablecoins: A Blockchain Centralization Dilemma, detailing the lack of audibility available for most Solana users. For example, to run a Solana validator node, one must bootstrap a 12 CPU core computer, 128 gigabytes of RAM, a minimum requirement of 300 Mbit per second upload speed, and a recommended speed of 1 Gbit per second. Thus, one must run a datacenter-level node to audit the system, making the cost to entry quite expensive. Additionally, these nodes must still rely on full history archival nodes.

Lastly, Solana suffers the same "nothing at stake" problem that Ethereum faces. The nothing-at-stake problem stems from proof-of-stake's inability to create a model of unforgeable costliness and, therefore, lacks an economy of opportunity costs. To resolve this problem, stakers must lock their funds and, in turn, receive slashing punishments for unwarranted acts. In other words, it's a blockchain requiring human decisions to determine consensus - requiring high levels of trust. Moreover, its value isn't created by something else, like the hash power created through proof of work's operational (energy) and capital (ASICs) expenditures, but is instead forced (which is strikingly similar to our fiat system today). 

To read more on the nothing-at-stake problem, check out a previous KASmedia article by Nicholas Sismil, “The Master of Time: How DAGKNIGHT Solves an Impossibility Result Unachievable by Bitcoin, Ethereum, and Classical BFT Models.” 

In contrast, he praised Kaspa's approach, which ensures equal participation rights for all users, regardless of their status or wealth. He used the example that the network should give equal weight to all participants, even if one of the participants is Donald Trump.

Addressing the concept of trustlessness, Junny pointed out the uncertainty users face when trusting platforms with their assets. He warned against being misled by user interfaces displaying asset balances without guaranteeing control or withdrawal capabilities. He advocated for systems like Kaspa's, which utilize Nakamoto consensus to align incentives and ensure that even self-interested actors contribute to the network's integrity.​

Delving into the philosophical realm, Junny explored the idea of moral nihilism in crypto, where actions are neither inherently right nor wrong. He argued that the "code is invalidating the morality of your actions, "so while the code may permit certain behaviors like MEV or sandwich attacks, the absence of moral standards doesn't absolve responsibility. He suggested that this leads to relativism, where actions are judged based on their outcomes rather than inherent morality. He concluded that decentralization is essential to prevent manipulation by powerful entities to uphold the crypto movement's original promises.

Check out Junny's talk to remember why you became interested in crypto and why decentralization is vital to Kaspa and the crypto revolution.

Crescendo & L1 and L2 zk Bridge, Michael Sutton

It is always a treat to watch a presentation by Kaspa Lead Developer and Core Researcher Michael Sutton. He gave listeners a deep dive into Kaspa’s upcoming Crescendo hard fork, outlining the major performance and protocol upgrades that will soon be implemented on the network.

Some highlights include increasing the blocks per second (BPS) to 10 BPS, which will boost throughput by approximately 8–9 times the current rate. This breakthrough has already been successfully tested on testnet and is designed to run efficiently on commercial computer hardware. The result? Kaspa will be capable of processing 2,000 to 3,000 transactions per second (TPS) for standard payments. The network will also dramatically reduce block times to just 100 milliseconds, offering virtually instant transactions. This improves responsiveness and performance and strengthens fairness and censorship resistance through enhanced block parallelism.

Sutton also explored the specific technical upgrades included in Crescendo, particularly the Kaspa Improvement Proposals (KIPs). KIP-9 (Storm) optimizes state growth by integrating it directly into consensus, helping to mitigate state bloat. KIP-10 introduces basic covenants—script-based controls that define spending conditions. These covenants lay the groundwork for future zero-knowledge (ZK) proofs and ensure logic-based transaction constraints. Meanwhile, KIP-14 and KIP-15 establish two key mechanisms that pave the way for smart contract support. 

Sutton explained that Kaspa is taking a verification-focused approach to scalability with no bottlenecks by perfecting data sequencing at the L1 level. L1 will handle sequencing and data availability (DA), while the interpretation and computation will occur on Layer 2 (L2) and then be proven back to L1. This architecture creates a unified consensus where all L2s rely on L1 for sequencing and DA—preserving the strong security guarantees of the base layer while also reducing storage requirements. 

In other words, with security anchored on L1, Kaspa solves the blockchain trilemma at the L2 level. 

It's important to note that every non-Kaspa L2 roll-up (i.e., Arbitrum, Optimism, zkSync) utilizes a single, centralized sequencer to order transactions. It's important to note that they don't need a single sequencer; instead, it's a choice. Let's examine why: roll-ups, by definition, were initially meant to be an entity for executing transactions while using the sequencing and data availability of an L1. However, it's been more convenient for L2s to run their own centralized sequencer, given how slow and expensive L1s tend to be. This extends the blockchain trilemma from the L1 to the L2, requiring centralized trust to sequence blocks. Even more so, this has caused a modularization of the crypto universe, fragmenting liquidity and decreasing composability. Kaspa with base-roll ups solves this. 

To hear more about the Crescendo upgrade, check out Michael’s talk on YouTube.

Kaspa Dubai Meetup

The Kaspa Crescendo Upgrade Pre-Party will take place on Saturday, May 3rd, 2025, from 7:00 PM to 9:00 PM at a soon-to-be-announced location in central Dubai. This free community gathering is a celebration of the highly anticipated Crescendo Upgrade, Kaspa's most significant leap forward in scalability and infrastructure. With enhancements like bigger blocks, sustained one-second finality, and the groundwork laid for mass adoption, Crescendo represents a major milestone for the $KAS ecosystem.

Due to high demand following the last meetup, attendees must RSVP by April 27th by directly messaging Andrew(@AndrewS19347998), the UAE Kaspa Ambassador, on X or Telegram. The final venue will be determined based on the number of confirmed guests. Designed for the true Kaspa fam—" max vibes, no shills"—this event promises to be an exciting prelude to a major chapter in Kaspa's evolution.

Crescendo v1.0.0 Upgrading Report

​As of April 21, 2025, approximately 60% of Kaspa nodes have upgraded to the new Crescendo v1.0.0 software in preparation for the upcoming hard fork. For real-time updates on node adoption and network status, you can visit the KasNodes, which provides insights into node distribution and upgrade progress.​

​As of April 21, 2025, approximately 60% of Kaspa nodes have upgraded to the new Crescendo v1.0.0 software in preparation for the upcoming hard fork. For real-time updates on node adoption and network status, you can visit theKasNodes, which provides insights into node distribution and upgrade progress.​

If you're operating a node, upgrading to Crescendo v1.0.0 before the hard fork deadline of May 5, 2025, is recommended to ensure compatibility and maintain network stability. Detailed instructions for setting up or upgrading your node are available in the Crescendo Hardfork Node Setup Guide.​

Partner for Token 2049 Crypto Night Event

Kaspa is proud to be an official partner of 1001 Crypto Nights—the most anticipated side event of TOKEN2049 Dubai. Taking place on April 30 at the luxurious Bohemia Beach Club, this unforgettable beachfront celebration blends crypto innovation with world-class entertainment and cultural flair. The night will feature a headlining set from global DJ legend Nicky Romero, alongside Jiayu, and a special performance by Ai Uehara. Inspired by the opulence and mystique of 1001 Nights, the event promises immersive activations, a jaw-dropping drone show, and a magical Arabian beach atmosphere.

Joining forces with ecosystem powerhouses like AVAX, Polkadot, Polygon, and a vibrant lineup of meme coin communities—Kaspa will be representing proudly among the Web3 elite. Hosted by LBank Exchange and co-hosted by MemeCore and Shib, 1001 Crypto Nights celebrates the creativity, collaboration, and culture driving the crypto revolution. Don't miss your chance to connect with the Kaspa community and experience the energy of TOKEN2049 Dubai in full force. The event is free for attendees and VIPs. Register now to unlock your exclusive Party Fun Map and all the night's highlights: 1001 Crypto Nights · Luma. 

Kaspa on Zelcore

Zelcore.io is a secure, non-custodial wallet platform that gives users full control over their digital assets. Available as a desktop application, mobile app, and browser extension, Zelcore supports over 100,000 tokens across more than 80 blockchain networks, including Bitcoin, Ethereum, Solana, and Tron. It accommodates over 100 million NFTs, providing a comprehensive solution for managing a diverse crypto portfolio. ​

Founded in 2018, Zelcore has garnered a user base exceeding 500,000 and is committed to continuous improvement with weekly updates. The platform's security features include decentralized two-factor authentication (d2FA), which distributes authentication keys across a decentralized network, eliminating single points of failure. Zelcore also ensures user privacy by not storing any private data on its servers, and users retain complete control over their private keys, ensuring asset recoverability even if Zelcore's services become unavailable.

Tangem Wallet Can Now be Used Anywhere VISA is Accepted with Tangem Pay

Tangem Pay is a game-changing product that lets users spend crypto from their Tangem wallets anywhere Visa is accepted—online, in-store, and even at ATMs. Live from Paris Blockchain Week April 2025, VP of Product Michael Batuev shared how Tangem Pay empowers users to make everyday purchases directly from their self-custodial wallets. The card stores private keys securely on the chip itself, meaning every transaction—whether point-of-sale or cash withdrawal—is cryptographically signed by the user and verified on-chain. There are no intermediaries and nocompromises—just secure, seamless crypto payments.

Initially rolling out across Europe and the UK, Tangem Pay is now in public beta, with plans to expand globally. The goal? Eliminate the friction of moving funds to third-party cards and provide a smooth, secure spending solution for users of all wallets. For Kaspa holders using Tangem, this opens up real-world utility like never before. Sign up now to join the waitlist and be among the first to spend your KAS wherever your Visa is accepted: https://tangem.com/cardwaitlist.

To read more about Tangem, please see our article, An Interview with Tangem, Revolutionizing Cols Storage for Kaspa. 

XXIM Podcast Sits Down with Igra Labs  

This week, the XXIM Podcast team released a new video, titled "KASPA L2 by IGRA Labs - Based Rollups, KIP15 and Stablecoins," where host Ankit engages with the IGRA Labs team—Denis, Pavel, and Mike—to delve into their mission of bringing smart contracts to the Kaspa blockchain. Mike shares his journey from a computer enthusiast to a key contributor in the crypto space. The team discusses their recent participation in the Web3 Festival in Hong Kong, where they presented their innovative approach to "Based Rollups," aiming to enhance scalability and efficiency in decentralized finance (DeFi).​

The conversation further explores IGRA's technical developments, including implementing KIP15, which outlines the architecture for Layer 2 transactions on Kaspa. They discuss the challenges and opportunities associated with introducing stablecoins within their ecosystem and elaborate on the functionalities of their native tokens, Igra token, and iKas, in facilitating gas fees and promoting decentralization. The episode concludes with a call to developers and builders to join the IGRA ecosystem, emphasizing upcoming events and the future of programmable layers on top of Kaspa's proof-of-work infrastructure.

In addition to releasing a new video, XXIM will host an X Spaces, "The Great L2 Discussion," featuring Igra Labs and Kaspa core developer Dr. Shai Wyborski on April 21, 2025. Listen to the space here: XXIM KASPA Spaces -The Great Layer 2 discussion with IgraLabs and Shai. 

Also, stay tuned for a future interview article with the Igra Labs team on KASmedia!