Kaspa halving every month: the network turns five

Kaspa turns five on 7 November, and miners have already produced about 97% of all the KAS that will ever exist. Bitcoin reached 96% after almost 17 years. The difference sits in the Kaspa halving schedule: the network trims its block reward a little every month, where Bitcoin cuts it in half every four years.

Five years in four dates

• 7 November 2021: Kaspa launches with no premine, no ICO and no coins for founders or investors;
• May 2022: the monthly reward schedule starts, and on 26 May KAS sets its lowest price, $0.000171;
• 31 July 2024: KAS reaches its all-time high of $0.2074, per CoinGecko;
• 5 May 2025: the Crescendo upgrade raises the rate from one block per second to ten.

How the monthly halving works

Each month Kaspa multiplies the block reward by the twelfth root of one half, about 0.944, and so trims it by 5.6%. Twelve such steps add up to one full halving a year. The developers call this a chromatic schedule, after the twelve semitones that divide a musical octave. When Crescendo made blocks ten times more frequent, they cut the reward per block tenfold, and the coins kept coming out on the same curve.

Total supply approaches about 28.7 billion KAS. CoinGecko counts 27.8 billion in circulation, so miners will add about 0.9 billion over all the years still ahead.

A graph instead of a chain

Kaspa grew out of the GHOSTDAG protocol, which Yonatan Sompolinsky and Aviv Zohar designed at the Hebrew University of Jerusalem and described in the PHANTOM paper. If two Bitcoin miners find a block at the same moment, the network keeps one and throws the other away. Kaspa keeps both and orders them in a graph called a blockDAG. With that design Kaspa produces ten blocks a second and still counts the work of miners who lost the race.

Development started at DAGLabs, a company backed by Polychain Capital, and then passed to the community. Miners produced every KAS in existence.

Where the price stands

KAS traded at $0.031 on 5 November, 85% below its high. CoinGecko ranks it 79th by market cap. Our calculator shows that $1,000 put into KAS in November 2023 at $0.0519 would be worth about $590 today.

What it means for you

If you compare Kaspa with Bitcoin, start with the issuance schedules. Bitcoin’s next halving comes in 2028 and cuts the reward in a single step. Kaspa’s reward shrinks by 5.6% every month, so you will not see one date on which miners’ income drops by half. Our Kaspa guide has the full history and the calculator, and the Bitcoin guide covers the four-year cycle for comparison.

Prices as of 5 November 2026, from CoinGecko. This is not investment advice.