Kadena (KDA) Research

Kadena (KDA) Research Details

Kadena (KDA) Kadena

INTRODUCTION

Kadena is a public blockchain platform that operates on a multi-chain blockchain architecture consisting of a braided and parallelized proof of work consensus protocol designed to improve scalability as more chains are added. Each chain in Kadena's architecture is based on Bitcoin's secure blockchain consensus protocol, but they are all braided together to make more chains and increase throughput. This makes the Kadena blockchain ecosystem one of the quickest, safest, and most scalable systems available.

A proof of work consensus mechanism is a security protocol that uses computing power to reach a distributed consensus on the validity of data and transactions. Kadena's braided architecture enables each chain to connect with the others using smart contracts written in Pact, Kadena's own programming language. So, Kadena's multi-chain blockchain structure is flexible and can be adapted to different use cases, such as tokenization, public and private transactions, and cross-chain interoperability.


HISTORY AND FOUNDER

Kadena was started in 2016 by Stuart Popejoy and Will Martino. Stuart Popejoy led the Emerging Blockchain group at JPMorgan before starting Kadena. He has 15 years of experience building trading systems and infrastructure in the finance industry. Will Martino ran the Securities and Exchange Committee's Cryptocurrency Steering Committee and Qualitative Analytics Unit and served as the Lead Engineer for JPMorgan's blockchain prototype, Juno. Dr. Stuart Haber, who helped create blockchain technology and is the most-cited author in the Bitcoin whitepaper, was also a key figure in starting Kadena.

Kadena also received funding from a number of cryptocurrency venture capitalists, including Multicoin Capital, CoinFund, Amino Capital, and others.


REASON TO BUILD THE PROJECT

Kadena (KDA) solves a number of problems that have kept blockchain from being widely used. For one thing, it helps to cut down on inefficiencies caused by industries not being able to work together. The network is built with multiple layers, which lets it connect public applications, private blockchains, and other networks in a safe and seamless way.

Kadena's solution aims to improve blockchain's speed, scalability, and energy efficiency to make it more popular among businesses in many different industries.


BASE OF PROJECT

  • Chainweb (Layer 1)- The Chainweb protocol serves as the network's Layer 1 foundation. This public blockchain uses a parallelized proof-of-work consensus system to provide the same level of security as Bitcoin but with a much higher transaction throughput. Part of the network's success can be attributed to the way it uses the Pact smart contract language.

  • Kuro (Layer 2)- The Pact smart contract language was built to meet the needs of the blockchain community. This next-generation programming language is both easy for people to understand and very safe. There are also error-reduction features to help make sure your smart contracts and Dapps are built securely.


USE CASE

The native token of Kadena is used to pay for computing power on the blockchain, which is how smart contracts and transactions are run. This is similar to how gas is used on Ethereum. It is also used to give miners rewards for finding the next valid block.

In short, the uses for KDA tokens are:

  • Transfers directly between users (payments)

  • Creating new smart contracts

  • Paying for the gas used to execute smart contracts


MAJOR NEWS AND EVENTS

DATE

NEWS/EVENTS

IMPACT

06/11/2021

New staking chances in DeFi and centralised exchanges, as well as a migration to the Ethereum network, led Kadena to higher levels

+122% Increase

28/10/2021

Kadena gets listed on Crypto.com app

+65% Increase


CONCLUSION

Kadena is a unique product in the blockchain space. It uses impressive technology and has ambitious goals. The platform could become a go-to enterprise network because it takes the mystery out of smart contracts and makes it easy for businesses to switch to blockchain without having to deal with the security and volatility risks that are usually associated with the technology.

If the platform is successful in meeting its objectives, it has the potential to expand and become a major participant in the cryptocurrency industry as a whole.


DISCLAIMER

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto products are currently unregulated and subject to market risk. Please seek independent financial advice or do your own research before investing.