The decentralization of money has emerged as one of the most significant financial revolutions of the 21st century, and its roots can be traced back to America. From early advancements in open-source software to developing secure digital currencies, the United States has played a pivotal role in shaping the foundations of decentralized financial systems. The evolution began with efforts to create transparent, open, and secure technologies enabling individuals to control their financial transactions without the oversight of traditional financial institutions or governments.

As the fastest proof-of-work network, Kaspa upholds the movement's foundational principles and ensures that decentralized finance can scale to global adoption and implementation. This fulfills the original vision of an open and permissionless monetary system—one that echoes the American spirit of freedom and technical innovation.

GitHub and its Open-Source Vision

This ethos of open-source software is embedded in nearly everything we use today. Much of the technology we rely on has code shared over the internet or built from an open-source repository.  

One of the most pivotal moments in the history of crypto was the creation of GitHub, which began development on October 19, 2007, in San Francisco, CA. It took the idea of "social coding," where everyone has a profile and can see, comment on, and collaborate with others.

Originally envisioned as a Git repository hosting site, GitHub was founded by Chris Wanstrath (@defunkt), who became interested in Git in 2007 after watching a Google talk by Linus Torvolds, lead developer for the Linux operating system and creator of Git. Git is a decentralized version-control system, originally coded in C, that allows developers to track changes and collaborate on software development. The first commit was published in October 2007, followed by a beta launch in January 2008 and a public release in April 2008.

Wanstrath and co-founders Tom Preston-Werner and PJ Hyett set out to craft a hub for all things Git—learning, sharing, and hosting. The team developed a Ruby on Rails implementation of Git, rewriting portions of the software to integrate seamlessly with their platform. 

In a 2007 presentation, Wanstrath described his vision for GitHub:

 “No Rules. Project belongs to you, not the site. Share, fork, change—do what you want. Give people tools and get out of their way. Less ceremony.”

The team initially focused on features like code browsing, commit viewing, and personalized dashboards. With the introduction of the dashboard feed, GitHub evolved from a simple Git repository hosting service into a platform for “social coding.” As the platform gained traction, it was recognized with Tech Crunch’s “Best Bootstrapped” award in January 2009. That April, GitHub was also featured in BusinessWeek, further solidifying its reputation. 

GitHub co-founder Tom Preston-Werner, whose platform was built on the pivotal ethos of open-source code, had this to say:

“It’s the right thing to do. It’s almost impossible to do anything these days without directly or indirectly executing huge amounts of open source code. If you use the internet, you’re using open source. That code represents millions of man-hours of time that has been spent and then given away so that everyone may benefit. We all enjoy the benefits of open source software, and I believe we are all morally obligated to give back to that community. If software is an ocean, then open source is the rising tide that raises all ships.”

In June 2018, Microsoft acquired GitHub in an all-stock deal valued at $7.5B. GitHub remains the largest open-source development platform, with over 100 million developers worldwide. 

This collective contribution to open-source code has been integral to modern digital technologies, including cryptocurrencies. In parallel, movements like the Extropians and the Cypherpunks, fueled by a libertarian spirit, began to advocate for developing decentralized systems that could challenge centralized power structures. But first, "show me the moneyyy", as the financial system was the first centralized system to change. 

Kaspa’s America

Kaspa's ongoing research development occurs at Harvard University. Moreover, Kaspa's core servers for Github code development are secured in Orange County, CA, supporting Kaspa's high-performance blockdag infrastructure and reinforcing its status as a "Made in America" cryptocurrency. By leveraging domestic server operations, Kaspa ensures enhanced security, reliability, and compliance with US standards and regulations, positioning itself as a decentralized yet locally powered digital asset. This commitment to American-based infrastructure not only strengthens the network's resilience but also aligns with the broader push for technological sovereignty and innovation within the US blockchain ecosystem.

Marathon and the Crypto Made in America Movement

Marathon Digital Holdings (NASDAQ: MARA) is one of the few publicly traded cryptocurrency companies in the US headquartered in Las Vegas, NV. Originally founded in 2010 as Marathon Patent Group, the company specializes in acquiring and licensing technology patents. However, amid the 2017 crypto bull run, Marathon rebranded and shifted focus to mining Bitcoin.  The company went public in 2020 and has since grown into one of the largest Bitcoin mining firms in the US, as well as one of the top BTC holders, with 45,659 BTC as of February 3, 2025.

Operating across four continents—North America, South America, Europe, and the Middle East—Marathon has developed proprietary hardware and software solutions to enhance Bitcoin mining efficiency, including MARATOOLS, MARAFW, and 2PIC. As of August 2024, all BTC mined in the US by Marathon is now stamped "Made in USA"—a move we hope to see extended to Kaspa in the future. While crypto mining is often criticized for its environmental impact, Marathon has prioritized sustainability, even recycling heat from its Bitcoin mining operations to warm homes in Finnish towns. Furthering its commitment to green energy, Marathon acquired a 114 GW wind farm in Texas in December 2024 to power its mining plants.

Marathon's involvement with Kaspa began in May 2023, when the company first started evaluating the network. By September 2023, it had deployed its first Kaspa miners. As of June 25, 2024, Marathon had mined approximately 93 million $KAS, valued at$15 million at the time. The company currently mines only Bitcoin and Kaspa.

Explaining the decision to mine Kaspa, Adam Swick, Marathon’s Chief Growth Officer, stated:

"Because of our existing infrastructure, our unique relationships with hardware manufacturers, our strong balance sheet, and the expertise of our team, Marathon was uniquely positioned to mine Kaspa and to capitalize on the higher margins that exist for those who can deploy Kaspa ASICs today. We look forward to continuing to support innovation in proof-of-work ecosystems, as we expand our position as a leader in digital asset compute."

Current State of Crypto in America

President Trump has ushered in a new era for cryptocurrency policy with the appointment of David Sacks as the White House's first AI & Crypto Czar. As chair of the President's Council of Advisors on Science and Technology, Sacks is set to reshape US crypto regulations, prioritizing innovation and economic growth. Upon signing his January 23 executive order, Trump reinforced his commitment to the industry, stating, "We're gonna make a lot of money for the country."Sacks echoed this sentiment at the Crypto Ball in New York, declaring, "The reign of terror against crypto is over… The beginning of innovation in America for crypto has just begun." A former PayPal executive, venture capitalist, and co-host of the All-In Podcast, Sacks brings a deep understanding of both finance and technology to the role. 

His appointment signals a sharp departure from the regulatory crackdown under the Biden administration, which Erik Trump criticized as a "holy war" against the crypto community. With Sacks leading the charge, the administration aims to dismantle restrictive policies, attract investment, and solidify the US as a global hub for digital assets and artificial intelligence. According to a member of the Trump Transition Team, there will be no capital gains tax on cryptocurrencies issued in the US—a policy that, if enacted, could ignite innovation and investment in the domestic crypto sector.  If enacted, we hope this tax break would extend further to fair-launch cryptocurrencies with a strong US presence, like Kaspa. With the US still catching up to global leaders in regulatory clarity, such measures could position the country as a competitive force in the blockchain industry.

Conclusion

While many individuals and organizations have contributed to the rise of decentralized finance, this paper focuses on pioneers from the United States and their significant role in advancing the movement. Every time you use Kaspa, remember the countless breakthroughs that made it possible. Kaspa and KASmedia are proud to be part of this ongoing revolution. Spend free or die.