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Kadena (KDA) is an enterprise-grade, interwoven blockchain ecosystem. The protocol integrates a proprietary chain architecture, cryptocurrency, developer tools, and a new smart contract programming language. These features enable businesses, developers, and users to transact and share data in a decentralized manner across multiple networks.
What Problems Does Kadena (KDA) Attempt to Fix?
Kadena (KDA) solves a variety of problems that continue to hinder large-scale blockchain adoption. For one, it helps to reduce inefficiencies due to inoperability across industries. The network's multi-layer structure enables it to unite public applications, private blockchains, and other networks in a secure and seamless manner.
One of the main issues that Kadena wanted to reduce is network congestion and scalability concerns. The world's top-performing Dapp ecosystem and blockchain, Ethereum, currently suffers from network congestion. This congestion resulted in record-high gas fees throughout the year.
Kadena users avoid these issues thanks to the unique technical structure of the protocol. Kadena braids together multiple blockchains that share the same cryptocurrency to provide vertical scalability far beyond other PoW networks. This strategy enables it to expand or contract to meet the needs of the community. Notably, Kadena's public blockchain performed a live network expansion from 10 chains to 20 chains in 2020 to demonstrate this capability to the market.
Benefits of Kadena (KDA)
Kadena users gain a lot of benefits. The platform provides an easy-to-use dashboard and programming language to help simplify Dapp creation and integration. The system streamlines the most common user activities as part of this strategy. You don’t need previous technical experience to utilize Kadena's core services.
Zero Fee Transactions
Kadena provides the market with zero-fee transactions. This approach continues to drive interest in the protocol as its competitors are in the midst of record-high fees. Eliminating these fees helps business to better serve their clients with more robust applications.
Kadena leverages a sharded architecture to provide developers with near limitless storage capacity. Sharding is a storage method that breaks data down into smaller more manageable sizes and stores it in multiple locations. The advantages of a sharded network include virtually unlimited expandability, storage, and upgradability. Kadena recently demonstrated that it's one of the fastest sharded layer-1 PoW blockchains in the market.
Kadena supports the issuance and trading of NFTs (non-fungible tokens). These unique digital assets can represent nearly any item. As such, the NFT market has seen considerable adoption.
There are NFTs in use within the gaming, art, and investment sectors. It’s one of the fastest-growing and most-watched developments within the industry. Kadena provides the NFT market with a scalable alternative when compared to its predecessors.
The technical layout of Kadena enables it to provide some features that other blocckhains are unable to. For example, the network can differentiate between account names and keys. In most blockchains, your public key is your account name. However, in corporate settings, the use of multi-sig wallets complicates this strategy. Kadena separates account names from keys which help businesses better govern their crypto usage.
How Does Kadena (KDA) Work
Kadena can provide its high performance and scalability due to its braided blockchain architecture. The concept behind this structure is that if one blockchain can do X amount of transactions, then two chains can do double. What makes Kadena unique is that the developers figured out how to weave the blocks and hashes together between the chains to create one singular multi-chained network.
In this strategy, each block includes the hash of the previous block on the same chain and the hash of the previous block on the other chain. Notably, this style of network provides the Merkle Tree structure needed to do cross-chain SPV proofs and more. As such, Kadena enjoys high performance with the ability to scale up to meet demands.
The Chainweb protocol is the Layer 1 foundation of the network. This public blockchain integrates a parallelized proof-of-work consensus mechanism to provide Bitcoin-level security but with significantly higher transaction throughput. Part of the success of the network can be attributed to the use of the Pact smart contract language.
Pact Smart Contract Language
The Pact smart contract language was custom built to service the needs of the blockchain community. This next-gen programming language is both human-readable and highly secure. There are also error reduction features to help ensure your smart contracts and Dapps are built secure.
The Developer Tools section is where users can find everything they need to build robust Dapp. Users can find helpful resources such as code samples and modules that streamline Dapp and smart contract programming. Anyone can learn how to leverage the custom service architecture of the network to create more helpful and immersive systems and improve the user experience.
The main utility token of the network is KDA. This flexible coin can be used to send value internationally. It's also how users interact with each other and the platform's services. For example, developers use KDA to pay for smart contract executions. Notably, users may stake KDA and secure passive rewards using the CoinMetro exchange. To qualify for this service, you must stake at least 1,000 KDA.
The developers behind the Kadena concept also introduced a new wallet to the market called Chainweaver. This developer-friendly option provides direct access to crucial functionality like the ability to monitor and manage your holdings. The wallet also offers users direct access to the Kadena programming environment.
How to Buy Kadena (KDA)
Kadena (KDA) is available on the following exchanges:
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
KuCoin – This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. USA Residents are Prohibited.
Uphold Disclaimer: Terms Apply. Cryptoassets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong..
Kadena – Corporate Blockchain Services and Security
Kadena provides a combination of enterprise-level services and security that continues to drive innovation and blockchain adoption. The protocol leverages a combination of advanced features and proprietary protocols to create a unique and effective way to reduce network congestion and scalability concerns. For these reasons and many more, Kadena appears to be well-positioned in the market.
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