Kadena (KDA) Live Price

What is Kadena?

Often shortened as KDA, the Kadena coin is a proof of work blockchain. It operates by offering a scalable version of Bitcoin while combining PoW consensus mechanisms with something else known as a directed acyclic graph (DAG) – both originating from Bitcoin. 

According to the team, Kadena is designed to provide maximum safety and security for Bitcoin while offering unprecedented throughput, thus enabling a blockchain network that is highly useful to both entrepreneurs and enterprises alike. KDA is built on a unique infrastructure decentralized for the purpose of widespread adoption owing to its multi-chain approach. 

Apart from security, Kadena also boasts of offering industrial scalability, which is targeted at supporting financial systems on a global scale. Hence, KDA itself can be scaled whenever the need arises. Amidst other features, Kadena promises to remain energy efficient at scale and ensure the smooth processing of more transactions while expending the same energy input, which is a significant difference from Bitcoin. Furthermore, KDA offers cryptocurrency gas stations, enabling businesses to cater to their customer’s gas fees, ultimately eliminating the bottlenecks of adopting blockchains for businesses. 

Although, Kadena already had its network scaled in the past, most notably from 10 to 20 blockchain, it doesn’t rule out the possibility of doing so again, probably in the future. The latest feature added to Kadena is the private Kuro layer-two blockchain. This addition aims to strengthen KDA to support more than 8,000 transactions every second across 50 different nodes. 

Who Are the Founders of Kadena?

Kadena was founded in 2016 by prominent members of JP Morgan’s blockchain development. Stuart Popejoy and his counterpart Will Martino were the most notable among this team. Stuart was the blockchain lead with 15 years of experience building trading systems and infrastructures in finance. 

Will was the tech lead of the Cryptocurrency Steering Committee of the US Securities and Exchange Commission and the lead engineer at JP Morgan’s blockchain prototype, Juno. Dr. Stuart Haber was another key personality who played a huge role in the KDA project as he was the co-inventor of blockchain technology and the most cited author in the Bitcoin whitepaper. 

Since its existence, Kadena has raised the bar in terms of funding. Interestingly, Kadena has indeed raised a whopping amount of $15 million, all from building massive earnings generated from the private token sales in the form of simple agreements for future tokens (SAFTs). 

Why Is Kadena Unique?

With its incredible feature of combining two separate consensus mechanisms, Kadena has maintained a unique status offering public proof of work with an unmatched level of throughput. 

How is this achieved? 

It is simply by braiding chains together. This means that KDA offers up to about 20 different blockchains that function simultaneously and asynchronously to ensure the validity of every transaction on the platform. As a result, Kadena is able to mint multiple blocks simultaneously, which automatically increases its throughput. Consequently, this further leads to increased security as the time of a potential attacker is reduced between block confirmations. 

Most notable is the direct acyclic graph structure employed by Kadena to theoretically scale from one proof of work blockchain to an unlimited account. Although the DAG structure may be fixed and multi-channeled, it’s a strong signal that Kadena’s blockchain supports communication with three different peer chains instead of confirming transactions at random. Consequently, this leads to an improved level of scalability and real-world performance. 

Another unique feature of Kadena is that it can scale when required based on the ever-changing needs of its users. However, the adoption rate is the only limitation as scaling and addition of blockchains subjects the network to a hard fork. Theoretically, KDA can scale up to 50 or even 100 blockchains if it demonstrates continued adoption. This process of scaling isn’t automatic but is usually necessitated by congestion. Once this happens, the fees rise immediately, and the miners form a DAO to work hand in hand to reconfigure the network to a larger size. 

How Is the Kadena Network Secured?

Kadena employs a Chainweb, a chain architecture, to ensure its security by combining several proof-of-work blockchains. There are up to three peer chain blocks in each chain, which ultimately increase throughput in a linear pattern and add new chains. These boost securities as Kadena chains employ an approach that displays a transaction history across chains in one view. Any attacker or potential threat that wants to break into the security of KDA would do a lot for not just one chain but all the running chains to attack one. 

Kadena also employs Pact as a smart contract language. Pact is a human-readable specifically built for blockchains with high-end security features. 

There you have it! Perhaps some of the things you want to know about Kadena.