Home Reviews Altcoin Projects What You Need to Know About Kadena Coin, Part 2

What You Need to Know About Kadena Coin, Part 2

The Kadena blockchain uses the PoW consensus mechanism, since it gives them the best decentralization options. Learn more about about their KDA token.

What You Need to Know About Kadena Coin, Part 2

The Merge switched Ethereum from PoW to PoS. As a result, miners lost a big chunk of their colleagues. Kadena is such a PoW blockchain. 

In a previous article, we discussed the Kadena blockchain and some basics about its native token. We are now going to answer five questions about the Kadena KDA coin. So, without further ado, let’s dig in. The following video gives you an idea what Kadena is about.

Where to Buy the Kadena Coin?

The KDA token is on offer on a variety of major CEXes. Binance and Binance.US both offer this coin. Furthermore, KuCoin and Gate.io are also part of this list. Smaller or lesser CEXes include OKX, Bitget, CoinEx, and Bybit. They mostly offer a KDA/USDT pair, with an occasional KDA/BTC pair, as on Binance or KuCoin.

As for DEXes, KDSwap, built on Kadena, offers no less than six KDA pairs.

Exchanges for the Kadena Coin?

Good news for U.S. citizens, Binance.US offers the KDA token since July 2022. Besides a KDA/USDT pair, they also offer a KDA/USD pair. Very convenient. On the other hand, it’s big brother, Binance, already offered the KDA token. They offer three pairs: KDA with USDT, BUSD, and BTC.

In addition, there’s a string of bigger and smaller exchanges that offer the KDA token. KuCoin with three pairs, Gate.io with two pairs, and OKX with a single pair. CoinEx and Bittrex both offer three pairs.

There are still a few other exchanges that are offering the KDA token, like CoinMetro and BKEX. See the picture below.

Kadena Coin
Source: CoinGecko
Kadena Coin News

If you’re interested in Kadena news, we can highly recommend its Medium page. It has regular updates on there, which are straight and to the point. Usually, the platform keeps its stories short and digestible. Between two to three minutes read times are the average.

Big news in April 2022 was its $100 million grant budget. More recent news includes personnel changes and additions to the team.

What Does Kadena Coin Do? 

The KDA coin is the native coin of the Kadena blockchain. Despite being a PoW chain, Kadena has almost free gas costs. In August 2020, the Kadena chain even managed a 480,000 TPS. They managed to do this with 20 braided chains, after they split the core network.

You can use KDA to pay for computational power and block mining. However, transaction fees are almost negligent. Some businesses even managed to completely bypass them. Furthermore, you can also use KDA for staking. The miners that produce blocks get rewarded in KDA.

Wallets for Kadena Coin
  • The official Kadena wallet is Chainweaver. It’s not a user-friendly wallet. Actually, it’s complex. However, it’s powerful. Kadena offers an extensive guide to Chainweaver in case it piques your interest.
  • X-Wallet is the only wallet that supports all tokens in the Kadena ecosystem. Among others, it offers cross-chain transactions.
  • Zelcore is a much more user-friendly, multi-network wallet. You can use it for storing and trading. 

Kadena compared the Chainweaver and Zelcore wallets, noting the strengths and weaknesses of each.

Conclusion

To sum up, we answered five questions about Kadena coin (or KDA) for you. There’s also a part one that you can visit.

The current KDA price is $1.47. That’s 4.8% up in 24 hours. In one year, it’s only down 32.2%. Compared to other coins and tokens, that’s good. The market cap is $286 million. There are 198 million KDA coins in circulation, out of a one billion max supply. That is less than 20%!

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