Kadena is one of the newly trending blockchain projects of the last few months. The project has drawn the attention of crypto investors and other players, seeking to leverage its unique tools.
This blockchain has a proof of work consensus that provides bitcoin’s Direct Acyclic Graph. The platform prioritizes security like Bitcoin. However, it does not compromise scalability. In this article, you will discover everything you need to know about Kadena.
What is Kadena?
Kadena is a public blockchain with a new smart contract language called “pact“. It is intended to address some of the shortcomings of Solidity, the language used by Ethereum, most notably its vulnerability to unbounded loops and absence of Formal Verification. Additionally, upgrades to pact smart contracts are available without a hard fork.
There will be a lot of exciting updates from @kadena_io and #KadenaEco in the coming months, such as more Project Spotlights, updates to Kadena.js for builders, announcements for Marmalade, and additions to #KadenaEco’s Strategic Advisory Board. pic.twitter.com/1Kro6k3ZVh
— Kadena (@kadena_io) September 2, 2022
It also intends to optimize for scalability and is fully equipped with formal verification and upgradeable smart contracts. In addition, Kadena leverages a novel Proof-of-Work (PoW) consensus mechanism called “Chainweb” which features different individually mined chains operating in parallel to complete network transactions. Theoretically, this approach provides a large transaction throughput at the base layer without requiring any scalability or feature solutions at the second layer.
Also, according to Kadena’s developers, based on internal tests, Kadena has no limits on transactions it can process per second.
Kadena Tokenomics
KDA, the native token of the Kadena blockchain, has gained attention in recent weeks and is the subject of multiple questions on the internet. Notably, the bear market hugely affected the Kadena coin, leaving buyers with doubts about its success. At the time of writing, the Kadena coin trades at $1.44.
The team over at @KdLaunch / @KdSwap has been hard at work and has put together a comprehensive overview on:
– Launchpad news
– DEX news
– Podcasts and video tutorials
– Updates on previous IDOs
– LemonJuice #NFT marketplace announcement…and more! https://t.co/flItRcr3T7 https://t.co/0OY7kZIuib
— Kadena (@kadena_io) September 14, 2022
Here are some uses of the KDA token:
- Payments: This consists of direct transfers between users.
- The creation of new smart contracts
- Pay gas fees for executing smart contracts
Who Created the Kadena Coin?
Stuart Popejoy and Will Martino founded Kadena in 2016. Martino and Popejoy both worked with JP Morgan and deeply understood blockchain technology. While at the American bank, Popejoy led the Emerging Blockchain Group.
Martino served as the lead engineer for JPMorgan’s Juno blockchain project. He also oversaw the Qualitative Analytics Unit and the Cryptocurrency Steering Committee of the Securities and Exchange Committee. Dr. Stuart Haber, a crucial figure in the development of Bitcoin technology, is also a founding member of Kadena.
Where Can I Get the Kadena Coin?
You can buy the Kadena coin (KDA) on a crypto exchange such as Binance. There are other platforms where you can easily purchase the token. They include:
Source: CoinGecko
Finally, the choice to invest in the KDA token is largely yours to make. However, it is important that you look closely at its performance since the bear market.
Conclusions
Kadena is an energy-efficient blockchain that provides a higher throughput despite having a proof-of-work consensus mechanism. Therefore, the Kadena ecosystem has enjoyed tremendous growth. And while there are questions about its future, it is agreeable that the project is worth a glance. Additionally, its ecosystem makes development easy through its smart contracts and cheap fees.
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