I've never felt such a stark contrast between the thriving Kaspa R&D team and the feelings of (some) members of the community—at least in some aspects I've observed, and certainly not in others :)
In short: the R&D team's talent and expertise are constantly growing, and they're getting real work done. More specific updates are coming soon.
I believe the ever-expanding size of the Kaspa R&D team is the strongest indicator of its long-term growth. You can feel not only its increased size but also its maturing spirit. More and more contributors are emerging, passionate, eager to understand, explore, and contribute to core technologies. More and more programmers are submitting PRs, and more and more people are writing KIPs. Parallel research/development is converging into a unified vision. The timeline is becoming clearer, veteran contributors are reuniting, and programmers are even talking about DK's cascading voting algorithm in their sleep (I have no proof, but it's certainly true).
Meanwhile, the core concepts that will guide the direction of near-term products are being refined and understood. These products will eventually be released. Kaspa's key advantages are gradually becoming apparent: its fast PoW mechanism achieves true real-time decentralization (RTD), perhaps unprecedented.
I know I've always been optimistic, but this paradoxical situation is particularly noteworthy. Bitcoin has "died" multiple times, Ethereum has gone through the "is it over?" phase, and Solana, after SBF, certainly gave the impression of being nearing its end—it's easy to link weak price movements with long-term prosperity, even when fundamentals are quietly improving. One of my challenges is sharing my perspective so that more people can experience what I see firsthand. I truly believe that without troughs, there are no great achievements, and troughs are precisely where your resilience is proven, not only to yourself but also to everyone who cares about you.