Take a small saucepan and add all the ingredients.
1 cup water, 5 oz tomato paste, 3 tbsp apple cider vinegar, 1/3 cup monk fruit sweetener, 1 tbsp Worcestershire Sauce, 2 tsp liquid smoke, 1/2 tbsp smoked paprika, 1/2 tsp garlic powder, 1/2 tsp onion powder, 1/2 tsp cayenne pepper, 1/2 tsp salt, 1 tsp mustard powder
Mix and bring it to a boil over medium heat, stirring continuously.
Reduce to low heat and simmer for 15 minutes until water evaporates and the sauce thickens.
Once you have achieved the desired consistency, remove the saucepan from the heat.
Taste and add extra salt or cayenne pepper, if needed.
Notes
For a glossier appearance, you can add 1 tbsp of butter.
If you dislike the smoky flavor, you can omit the liquid smoke and use regular paprika instead of smoked paprika.
add 1/4 tsp of cayenne pepper if you do not like spice
if you do not care if the recipe is Keto or Sugar-free, you can substitute the monk fruit sweetener for brown sugar (though I promise you won't notice a difference)