What is Kadena (KDA) How It Works & Where To Buy It?

Kadena’s proprietary chain architecture claims to be the perfect blockchain for businesses. Kadena aims to improve transactions and interactions in the world thanks to its revolutionary chain architecture.

Kadena incorporates the security of Bitcoin and nominal gas fees to offer enterprises and entrepreneurs a viable and efficient platform.

KDA is the native token used to perform actions in the Kadena ecosystem – KDA is currently the 97th largest cryptocurrency by market capitalization.

How Kadena (KDA) Works

Kadena addresses the issues of security and scalability through the implementation of two blockchains. The Chainweb and Kuro blockchains are tasked with providing the Kadena network and all projects in the Kadena ecosystem with optimal speed, enhanced sustainability, and improved scalability.

Transactions occur on Chainweb which is the layer-1 blockchain. The second-layer blockchain, Kuro, provides developers with a platform to build and deploy their decentralized applications.

Chainweb – A unique parallel system facilitates the high throughput of transactions that Kadena can achieve. Chainweb operates on a proof-of-work consensus mechanism, and Kadena divides PoW across multiple mining chains. All individual blocks are checked twice to ensure optimal security is prioritized.

Kuro – Kadena’s layer-2 blockchain is optimized for creating smart contracts. It achieves its speed and enhanced scalability by relying on the Byzantine Fault Tolerance algorithm – block creations occur every 1.5 seconds. Developers use the Pact programming language when developing decentralized applications (dApps).

The Kuro network is able to process around 500,000 transactions per second and this has played a major part in the success of the project, and the exciting sentiment surrounding Kadena.

Users seeking to learn more about how the smart contract language ”Pact” works and how Kadena’s energy-efficient blockchain claims to have industrial scalability should refer to the Kadena whitepaper.

What Is Kadena (KDA) Used For?

The Kadena network claims to provide a decentralized infrastructure for developers. Through the development of optimized blockchain technology, tools, and architecture Kadena believes developers can run the entire process, from concept to deployment within a few days.

Kadena utilizes Pact, which is considered one of the best smart contract languages. Pact can detect bugs and essentially acts as a safety net to reduce the risk of suffering exploits on Ethereum and other platforms.

Kadena positions itself as a project that can facilitate financial systems globally. It achieves this through its advanced scalability, which is why it can process hundreds of thousands of transactions per second.

The security and efficiency of the platform are a result of the two-blockchain system that Kadena uses. The incorporation of the Chainweb and Kuro blockchains maintains the security and integrity of the Kadena network.

Enterprises require advanced security protocol measures and many existing blockchain solutions don’t meet the requirements. Kadena claims that its PoW and PoS blockchain systems can provide enterprises with the most optimal security, and meet their throughput demands.

Businesses also utilize Kadena because of their nominal transaction fees and their Crypto Gas Stations which effectively eliminate transaction fees. The marginal transaction fees for consumers ensure that anyone using the network can benefit from nominal costs.

Where To Buy Kadena (KDA) Tokens

Kadena (KDA) tokens are frequently traded on most cryptocurrency exchanges. The unique value proponents that Kadena offers make it an appealing blockchain project – in recent months Kadena has continued to be one of the most traded cryptocurrencies on the market.

Before purchasing Kadena tokens, users will need to deposit fiat money onto an exchange, sequentially, KDA tokens will be credited to their relevant KDA digital wallet on the exchange.

The crypto exchanges below are some of the safest places where you can buy, sell and store KDA tokens.

• Gate.io
• KuCoin
• Binance
• Crypto.com

Ensuring that your tokens are safely stored should be a priority. Most individuals opt to store their tokens off-exchange and in a digital or hardware wallet. Some of the most popular wallets include Trust Wallet and MetaMask.

About Kadena (KDA)

How long has Kadena (KDA) existed?

Kadena had an ICO (initial coin offering) in 2019 which raised a total of $14,930,000. The ICO token price was 1 KDA = 1 USD.

The project’s founders are Will Martino and Stuart Popejoy – both of whom are extensively experienced and renowned in the blockchain space.

Since the ICO launch, the KDA token has managed to trade higher than its listing price for the most part. KDA is still more than 2x its ICO price (in USD pricing).

What’s controversial about Kadena (KDA)?

The crypto market is saturated with projects and new projects emerge on a daily basis. Unfortunately, many founders seek to exploit unknowing and sometimes unwitting retail investors. These projects make unfounded claims and don’t deliver on what was promised to their communities.

Individuals should always do as much research as possible before investing in any crypto project. A few key research areas should include the project’s founders, the tokenomics of the project, major partnerships, the whitepaper, as well as any other important factors surrounding the project.

Let’s take a look at the top controversy surrounding Kadena (KDA):

• Token price – Most retail investors consider the token price before investing in any project. The price history of a token is a good indication of whether it is a good time to buy the token but there are other factors that affect the token price that need to be considered too.

  The circulating supply of tokens can drastically inflate token prices. Projects with low circulating supplies often experience positive price appreciation because their tokens are more scarce (many are being staked or haven’t been mined yet). Kadena has a low circulating supply and many investors feel that the price of the token is overvalued and that once more tokens enter the market, the price could see a drastic correction.

How many Kadena (KDA) Tokens tokens are there?

At the time of writing, Kadena (KDA) has a circulating supply of 184,802,447.92 KDA (18% of the total supply).

The total supply of Kadena (KDA) is 1,000,000,000.

The max supply of Kadena (KDA) is 1,000,000,000.

Can Kadena (KDA) be mined?

Kadena (KDA) is a mineable cryptocurrency. Kadena makes use of two blockchains to effectively achieve optimal functionality – Chainweb is a proof of work blockchain where miners need to solve complex mathematical problems and are rewarded upon proof.

KDA tokens can also be staked – users can earn generous yields from staking KDA tokens.

There a few centralized exchanges also offer staking rewards for KDA holders that stake their tokens for a certain duration.

What is the market cap of Kadena (KDA)?

The market cap of Kadena (KDA) is: total amount of coins in circulation x current market price of KDA.

Kadena (KDA) Market Cap = 184,802,447.92 KDA x $2,21 = $408 million (97th largest market cap).

Kadena has retained a spot on the list of the top 100 cryptocurrencies by market capitalization. However, the KDA price is currently trading at more than 10x below its October 2021 all-time high of $24.

The market cap fluctuates according to circulating supply and market price.

Biggest Competitors Of Kadena (KDA)

The blockchain space is incredibly competitive and many good projects fail to succeed due to the amount of competition present. Kadena has managed to perform well in recent years but the crypto space has seen many successful and much-needed projects enter the space – projects that have amassed significant communities and that have large numbers of daily users.

Kadena’s biggest competitors are:

• Avalanche
• Fantom
• Solana
• Cardano

What Are The Future Plans For Kadena (KDA)

Kadena has become known as one of the fastest and most scalable blockchains in the crypto space. The project has effectively lived up to its claim to solve scalability and security issues, and this has been one of the reasons the project has attracted so many investors.

The project has announced the launch of a novel NFT marketplace which is named Marmalade.

The project also announced that they are planning on launching a testnet that will bridge Kadena and the Ethereum Virtual Machine as well as another bridge between Cosmos and Kadena.

Pros And Cons Of Kadena and KDA Token

Pros:

• Kadena’s token economic model – The Tokenomics model of Kadena prioritizes the incentivization of network participants and contributors. Miners who are tasked with mining blocks are reserved a significant portion of rewards for their contributions to keep the network secure.
• High transactional capacity and throughput – Kadena’s public blockchain has performed incredibly well over recent years and has been one of the highlights of the project. The transactional capacity is currently about 500,000 transactions per second on the Kadena public chain.
• Two-blockchain system – Kadena makes use of two blockchains to achieve scalability and security. As mentioned, the proof of work blockchain is Chainweb (layer-1), and the proof of stake blockchain is Kuro (layer-2).

Cons:

• Circulating supply – The total token supply allocated is often one of the most discussed points of the project. An additional concern is the relatively low circulating supply of Kadena.

  Upon founding Kadena, Martino and Popejoy did not imagine that the token supply and allocation would cause such a considerable amount of concern. Many believe that the token is overvalued because of the low circulating supply and that the price of KDA will suffer a drastic correction.