Kadena Overview
What Is KDA?
Kadena is the industry's only scalable layer-1 Proof of Work (PoW) blockchain. The principal feature that drives Kadena is scalability, which enables Kadena to deliver infrastructure-grade performance for any blockchain project. Along with their own smart contract language Pact, Kadenas platform provides the world the tools and environment to turn ideas and ambitious into reality. Founded by Stuart Popejoy and William Martino who created JP Morgan's first blockchain and led the SEC's Crypto Committee, Kadena aims for true blockchain mass adoption.
Like ETH on the Ethereum blockchain, KDA is the native cryptocurrency on the Kadena blockchain and is used to compensate miners for settling transactions on the network. It is also used for the transaction fees users pay to convert other currencies to and from Kadena.
So far in 2023, Kadena's price has been fluctuating around $1 and is 96.48% lower than the highest price paid for Kadena of $27.64 which makes this a great time to start accumulating the coin.
Scott Stornetta, (left) and partner Dr. Stuart Haber (right) discuss their ‘time-stamp’ for electronic documents, which they developed in the Bellcore Research Laboratory in Morristown, 20 years before Bitcoin was born.
Vision and Founders:
Prior to the launch of Kadena in 2016, Kadena's founders were already leaders in blockchain and cryptocurrency solutions:
- Stuart Popejoy led JPMorgan's Emerging Blockchain group.
- Will Martino was recruited from his role as the Tech Lead for the SEC's Cryptocurrency Steering Committee.
- Together, Stuart and Will built JPMorgan's first blockchain, now known as JPMCoin
Kadena's advisory team consists of experts such as Dr. Stuart Haber, the co-inventor of blockchain and the most cited author in Satoshi Nakamoto’s renowned 2008 Bitcoin white paper.
Haber’s innovations don’t end with Bitcoin but live on in Kadena with the launch of Immutable Records (IR) on their NFT platform. Founded alongside the other co-inventor of blockchain, W. Scott Stornetta, IR exploits Kadena’s unique advantages, such as institutional-grade provenance, on-chain minting, and custom marketplaces.
Public blockchain reimagined..
No competition
The highest-valued settlement platform, Bitcoin, relies on the proven PoW consensus protocol for security. However, traditional PoW is not scalable.
With its revolutionary, braided multi-chain architecture, Kadena is the only scalable PoW platform capable of scaling to meet Kadena's long-term goal: To settle the 9+ million trades executed on the New York Stock Exchange every day.
Validation
In 2020, Kadena's public blockchain performed a live network expansion from 10 chains to 20 chains. Doubling the available TPS, the expansion proved the platform’s ability to scale in production to meet ever-higher demand. Kadena’s multi-chain architecture ensures that a throughput ceiling will never be reached.
Chainweb
Kadena's public blockchain, Chainweb, is the only sharded and scalable layer-1 PoW network in production today. It utilizes a PoW (Proof of Work) consensus mechanism that improves throughput and scalability while maintaining the security and integrity found in Bitcoin. To achieve this breakthrough in scalability, Kadena braids together multiple Bitcoin-like chains.