What is Kadena? Where to Buy KDA?

What is Kadena (KDA)?

Kadena is a public blockchain platform that runs on a multi-chain blockchain architecture made up of braided and parallelized proof of work consensus protocol designed to increase its scalability as more chains are added. Each chain in Kadena’s architecture takes after Bitcoin’s secure blockchain consensus protocol however, each is braided together to form multiple chains thus increasing throughput. This makes the Kadena blockchain ecosystem one of the fastest, most secure, and scalable blockchain platforms.

A proof of work consensus mechanism is a security protocol that leverages computing power to achieve distributed consensus over data and transaction validity. Kadena’s braided architecture allows each chain to communicate with the other via smart contracts built with Kadena’s proprietary programing language called Pact. Therefore, Kadena’s multi-chain blockchain structure is versatile, adapting itself to various use cases such as tokenization, public and private transactions, and cross-chain interoperability.

Kadena's Vision and Founding

Kadena’s main vision is predicated on the fact that blockchain adoption is dependent on its capacity to solve current technical limitations, especially among businesses worldwide. While blockchain technology is promising, Kadena’s founders believe its entire ecosystem needs to be re-imagined and re-designed to work for enterprises.

Kadena’s solution seeks to improve blockchain’s speed, scalability, and energy efficiency to boost blockchain adoption especially among businesses across multiple industries.

Kadena was launched in 2016 by Stuart Popejoy (one of the people who helped build JPMorgan’s Quorum) and Will Martino who was recruited to be part of the SEC’s Cryptocurrency Steering Committee.

How does Kadena Work?

Kadena operates as a decentralized infrastructure for blockchain development. It features a public blockchain that is interoperable with multiple chains each referencing a layer 1 public blockchain protocol called Chainweb. Thanks to Chainweb, Kadena is capable of increased throughput and scalability while maintaining security and data integrity across all chains.

Kadena also features a human-readable smart contract programming language called Pact which is designed to make it easier for businesses to develop and deploy smart contracts. Pact allows developers to create contracts that are both interoperable and scalable. The Pact programming language features superior security capabilities such as contract upgradability, bug detection, and strong permission and access control.

The platform comes with a native token called KDA which is used to pay for the computational resources on the Kadena public chain. Similar to Ethereum’s Ether, KDA is used to compensate miners in the Kadena ecosystem as well as pay for transaction fees in the Kadena network. Developers also use KDA to pay for smart contract executions, and users are allowed to stake a minimum of 1,000 KDA tokens for passive rewards on the CoinMetro exchange.

With 20 chains in its ecosystem, Kadena boasts of achieving industry-leading 480,000 transactions per second. This is by far one of the highest transaction throughput levels recorded on a blockchain network.

What Makes Kadena Unique?

Kadena’s main selling point is the fact that it has simplified blockchain programming especially with its Pact programming language.

Pact

Pact, according to Kadena, is a next-gen programming language that can be read and understood even by non-developers. It is also touted as a highly secure programming language as it comes with error reduction features to ensure the feasibility of decentralized applications built with its code.

Flexibility

Apart from Pact, another feature that makes Kadena stand out is its flexibility. The Kadena ecosystem features a flexible blockchain that can differentiate between account names and keys. On most blockchain networks, your private keys are inseparable from your account’s identity. Kadena however is flexible enough to separate the two thereby enabling users to use multi-signature wallets without any complexity.

NFT Support

As NFTs continue to soar in popularity, Kadena is also jumping on the bandwagon given its capacity to support non-fungible tokens. Using Pact, Kadena’s blockchain can be used to create NFTs that support every imaginable use case. What’s more, the platform can be USD to create fractional as well as serial NFTs that support unfragmented liquidity for dApps that generate unique incentives and cash flows. Also, thanks to Kadena’s higher throughput, trading and exchange of NFTs and other digital assets is an easy and affordable process.

Zero Transaction Fees

Another feature that makes Kadena unique from other blockchains is its capacity for zero-fee transactions. Tokens on Kadena are moved across chains using a single simple verification thus limiting the transactional fees to a negligible level. While consumers get a marginal transaction fee, Kadena introduces a first-of-its-kind zero gas fee model to businesses looking to develop dApps. This gives dApp developers the option of charging zero transaction fees in their dApps as well.

Sharded

In addition to zero transaction fees, Kadena uses a shared architecture that gives developers near limitless storage capacity for their dApps. In blockchain development, sharding is a process that splits data into smaller parts so that it can be stored and accessed easily in smaller manageable sizes. The broken-down data is then stored in multiple locations thereby allowing for faster data verification.

Over the years, blockchain networks have continued to evolve to accommodate growing demand from users.

Kadena’s sharded architecture ensures that developers have all the resources they need to create high-performing dApps without having to worry about storage capacity or throughput. Sharding on Kadena also gives dApps built on its ecosystem upgradability.