Kadena is a hybrid open-source blockchain platform that delivers higher speed, security, scalability, and ease of use. The protocol is based on the Proof-of-Work consensus mechanism with an upgrade to the hashing algorithm. The Kadena blockchain is powered by its native token, KDA.
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Read on to learn everything you need to know about the Kadena protocol and the KDA token.
What Is Kadena
Kadena is the only scalable layer 1 Proof-of-Work (PoW) blockchain protocol that offers both public and private networks. Kadena uses a public layer-1 network, Chainweb, which provides the security of Bitcoin along with no-cost transactions, complex smart contracts, and high speed. The protocol lets developers build smart contracts through its programming language, Pact, allowing effortless writing directly on the blockchain. Pact is different from other smart contract programming languages as it automatically detects bugs, providing a high level of security. Another key element of Kadena is a private layer-2 network, Kuro, that developers can use to develop scalable, secure, and private decentralized applications (DApps).
The mission of Kadena is to expand blockchain adoption by delivering tools that meet the needs of developers and organizations.
Kadena's native digital currency, KDA, is used to cover costs on the Kadena blockchain and reward miners for producing blocks.
Kadena Founders
Kadena was founded by Will Martino and Stuart Popejoy, former members of the JPMorgan blockchain development team, in June 2016. They learned what the blockchain needs to deliver to achieve mass adoption while working on the Juno project and building JPMorgan's internal blockchain together.
Will Martino is the CEO of the company. Previously, he worked as Fintech Manager at JPMorgan and was the Lead Engineer for Emerging Technology's open-source Juno project. Before that, he served as a Senior Science Advisor at the US Securities and Exchange Commission.
Stuart Popejoy led JPMorgan’s Emerging Blockchain group. He designed and developed transformative technologies, including blockchain and smart contracts. Before JPMorgan, Stuart worked as a programmer, analyst, and researcher at different companies.
How Does Kadena Work
Kadena is a hybrid blockchain consisting of layer 1 public chain protocol Chainweb and a layer 2 protocol Kuro. The smart contract language Pact ensures interoperability between the two layers.
Chainsweb
Chainsweb was created to resolve the limitations of the Proof of Work, inspired by Bitcoin. It uses parallel-chain architecture to provide high throughput and scalability. Similar to the Bitcoin Network, miners in Kadena need to solve mathematical puzzles to produce new blocks. However, while there is one chain in the Bitcoin network, Chainweb networks can run thousands of chains simultaneously while increasing throughput and maintaining security with each newly added chain together.
Chainweb claims to be “the only sharded and scalable layer-1 PoW network in production today”.
Kuro
The private blockchain of Kadena Kuro is optimized for enterprise-grade use cases. Developers can use the network to build and deploy scalable, secure, and private DApps (decentralized applications). Initially, Kuro editions were available via Microsoft Azure and Amazon Web Services (AWS), but in 2020 the project became completely open-sourced.
KDA Launch
Kadena was launched on the mainnet in November 2019. It held a token sale on CoinList, a platform for new crypto offerings. In the ICO, the KDA price was $1, and the company raised nearly $15 million. Kadena conducted another token sale via Simple Agreement of Future Tokens (SAFT), available only for accredited investors, who could buy tokens at a discounted price of $0,50. Tokens sold in terms of SAFT were locked for one year.
Before that, Kadena held two presales in 2017 and 2018, raising around $2,25 million and $13 M, respectively.
Kadena has a max supply of 1 billion KDA tokens.
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How to Buy Kadena
There are various crypto exchanges where you can buy KDA. Among the most popular ones are KuCoin, Gate.io, Bkex, Hoolgd, CoinEx, Hotbit, Bittrex, and TradeOgre.
