breaking news What is Kadena (KDA)? • Full Token Breakdown • Benzinga
With the 14th anniversary of the Bitcoin network taking place just a few days ago, it is remarkable to see how far the crypto industry has come. But even with all the progress, the blockchain and crypto industries still suffer from growing pains. The industry is plagued with extreme price volatility, scams and user-friendliness, which are less than ideal.
Mass adoption is arguably the holy grail of the blockchain and crypto industry, but several hurdles have hindered progress. One of the biggest issues has been scalability. After all, if you want millions of people using your cryptocurrency, the network needs to be able to handle the traffic.
The speed of a blockchain is measured in transactions per second (TPS). Another critical metric is transaction finality time (how long it takes to confirm a transaction). Together, these parameters determine the scalability of a blockchain.
Many blockchains suffer from low TPS and long transaction finality times, which can minimize the user experience. Bitcoin and Ethereum – the most widely adopted currencies – are struggling to scale. During periods of heavy usage, transaction times and fees increase significantly.
A difficult problem to overcome is having network speed without sacrificing decentralization or security. Ethereum co-founder Vitalik Buterin called this problem the blockchain trilemma – the quest for security, scalability, and decentralization. Solana has struggled with this over the past year, suffering three outages, one in April and two in May.
Some recent projects are striving to conquer the blockchain trilemma, and Kadena is one of them. The following sections will dig deeper into Kadena’s story, what Kadena hopes to achieve, and what sets Kadena apart from other projects.
Presentation of Kadena
Kadena is a Layer 1 proof-of-work (POW) protocol that uses dual-layer technology. It is designed to help builders of all levels of expertise develop apps from concept to launch. Kadena is highly scalable with its multi-chain braided structure.
The first layer is a public blockchain called Chainweb, and the second layer is a private blockchain called Kuro. Together, these layers support the processing of up to 480,000 transactions per second through multiple braided chains. To achieve scalability, Chainweb fragments transactions.
Kadena’s architecture combines 20 individually operated parallel chains that simultaneously form a single network. Chainweb’s design linearly increases transaction throughput as new chains are added in parallel. Kadena’s multi-chain network provides security without sacrificing transaction speed and scalability.
Kadena has developed Pact, an open-source Turing-incomplete smart contract language. To promote the functionality of the Kadena blockchain, Pact was created for developers and non-developers to read and use.
Pact code is executed as an immutable transaction directly on the ledger in a human-readable format, which means anyone can openly verify Pact smart contracts. Developers can also upgrade Pact smart contracts at any time without the need for a hard fork.
Why do people use Kadena (KDA)?
One of the main advantages of Kadena is its ability to offer low-cost transactions while offering fast transaction speeds and reduced transaction finalization times. Kadena has also introduced a crypto service station feature which gives businesses the ability to eliminate transaction fees for their customers.
With over 20,000 cryptocurrencies in existence today, many have little to no use cases and others are outright scams. The value of a crypto project can be measured by how useful it is and if it solves a real-world problem. Let’s see how Kadena measures up.
Pharmaceutical tracking and tracing
- Rymedi is a workflow management software for disease testing and vaccine administration.
- Kadena has integrated its hybrid blockchain into Rymedi’s healthcare platform, enabling tracking of the provenance of controlled substances. The Kadena blockchain also provides a data management solution in the healthcare sector.
- United States Commodity Funds LLC (USCF) is an American company that manages exchange-traded commodity funds.
- Kadena’s hybrid blockchain provides the scalability needed in the fund management industry and the ability to manage public and confidential data.
Latin American fintech and government infrastructure
- Alteum is a Latin American technology organization specializing in the development of blockchain and distributed ledger technology (DLT) for enterprises and governments that have chosen to work with Kadena because of its speed, scalability, and availability. security.
- The Kadena blockchain is an integral part of Alteum’s goal of addressing challenges in Mexico.
- A debt tokenization platform: Allows small and medium-sized businesses to take on debt at a lower interest rate. It gives individuals the opportunity to make investments that are usually only available to venture capitalists.
- A sovereign voting platform: Allows citizens to have their voices heard on various municipal and governmental issues.
- Tokenization of land and raw materials: Provides the ability for individuals to purchase rare earths, goods and metals in a fractional form. Small investors can pool their funds to buy assets that are usually financially beyond their reach.
Other use cases for KDA tokens include:
- Direct peer-to-peer transfers (payments)
- Create new smart contracts
- Pay the cost of gas to execute smart contracts
History of Kadena (KDA)
Kadena was co-founded in 2016 by Will Martino and Stuart Popejoy. Both have experience building blockchains and built JP Morgan’s first JPM coin blockchain. Kadena’s advisory board also includes Stuart Haber, the co-inventor of blockchain technology. He is the most referenced author in the 2008 Bitcoin white paper.
KDA is the native token of the Kadena blockchain and was first released via two private token sales as a Simple Agreement for Future Tokens (SAFT) in early 2018.
Following the private sales, a public sale took place, split between accredited ($0.5 per KDA) and non-accredited ($1 per KDA) investors.
The distribution of KDA is as follows:
- Mining: 700 million to be issued over more than 100 years
- Platform sharing: 200 million to be issued over nine years
- Investors, strategic reserve and contributors: 90 million
- Burned at launch: 10 millions
KDA has a maximum supply of 1 billion and a current circulating supply of 216,066,617.
The inflation of the KDA token is as follows.
- Genesis Block offers a reward of 23 KDA per block.
- This amount will decrease by 0.3% every 87,600 blocks (approximately every 30 days) based on a block time of 30 seconds.
- From block 95,308,800 to 125,538,055, the block reward freezes at 1 KDA per block and goes to zero at block 125538057.
Where to buy Kadena (KDA)
KDA can be purchased on 24 crypto exchanges, including Binance, Binance.US, Kucoin, and Gate.io. CoinMarketCap publishes a comprehensive list of exchanges that support KDA. Below are the trading pairs for the four listed exchanges.
- OKX: KDA/USDT
- Binance: KDA/BTC, KDA/USDT, KDA/BUSD
- Binance.US: KDA/USD, KDA/USDT
- Kucoin: KDA/BTC, KDA/USDT, KDA/USDC
- Gate.io: KDA/BTC, KDA/USDT
Variety of tokens
Kadena Blockchain vs other Blockchains
So how does the Kadena blockchain compare to its competitors? This section will highlight some of the key differences.
Looking at the first row of criteria in the table above, you can see that Kadena is light years faster than other blockchains. Moving to the second line, you can see that Kadena is the only POW blockchain; the PoW consensus makes Kadena much more secure. Kadena also has a huge advantage in terms of transaction fees and scalability.
How to Store Kadena (KDA) Safely
No cold storage wallet is available for KDA. Ledger is working with the Kadena team to bring a Kadena app to Ledger Live. Three hot storage wallets are available.
Chainweaver is Kadena’s official wallet and is available for desktop or web. It is more than just a crypto wallet; it can be used for advanced blockchain and smart contract development. It is more complicated to use than other wallets.
X-Wallet is an extension for Chrome and Brave browsers and is also compatible with iOS and Android. It integrates with most NFT and DeFi Kadena dApps, as well as the Kaddex DEX which allows you to trade, stake and provide liquidity with your tokens.
The Zelcore wallet, unlike the first two, is a multi-asset wallet. Zelcore is built on a multi-asset/protocol platform that allows consumers to access and view the entire blockchain universe from one place. With the Zelcore wallet, it is easy to buy, store, trade and trade assets on any protocol and exchange. Zelcore supports over 450 coins with the ability to import over 50,000 tokens, and it supports over 60 blockchain protocols.
Whether you choose one of these wallets or another wallet, do not store your crypto on exchanges.
Is it a good time to buy Kadena (KDA)?
So after reading this article, are you ready to invest in KDA? If so, is it a good time to buy KDA?
KDA is highly correlated with Bitcoin, which drives crypto market cycles. Knowing this, where Bitcoin is in the market cycle, helps determine if the time is right to buy KDA.
The chart above shows the price history of Bitcoin. It measures the time intervals from one bull market peak to the next and from one bear market trough to the next.
As for the timing of market cycles, they are relatively consistent, especially the last two. It’s no secret that the best time to buy crypto is near a bear market low, but trying to time the market and buying at the exact low is tricky. A safer strategy is to start the buying average near the bottom. Studying the chart above shows that the time could be right now. Bitcoin and other cryptocurrencies are highly speculative, so you want to invest money that you can afford to lose.