What is Kadena (KDA)? Detailed information from A to Z about KDA virtual currency
Today, Hay Mod Game will continue to introduce to you a project born with the mission of solving the problem of scaling – a painful problem in the projects of the virtual currency market today. That is Kadena. So what is the Kadena project? What is special about KDA virtual currency? Let's read the following article, guys!
What is Kadena (KDA)?
Kadena is a Blockchain platform born to solve the problem of scalability of current Blockchains. More specifically, a Hybrid Blockchain that includes both the Public Blockchain and the Smart Contract Pact programming language .
The Kadena project's Public Blockchain is a Proof of Work running on the Chainweb platform - a protocol that offers high security and high throughput. Kadena Network will consolidate Public applications, Private Blockchain and other compatible Chains into one place. This will direct traffic to the high-bandwidth computer at the heart of the Public Blockchain Kadena.
Future vision of the Kadena . project
Kadena's aim is to revolutionize the entire world of interactions and transactions. But for mass adoption, the technology on the chain and bringing the ecosystem to connect with the business world needs to be reshaped from the ground up.
The Kadena project has built a proprietary on-chain architecture and created the tools that make Blockchain work for businesses – at speeds, scale and energy efficiency previously thought unattainable.
Kadena's Reality
Kadena builds Blockchain to be widely used in real life. The ecosystem is applied in enterprises and helps entrepreneurs to implement the system with high security, free transaction fees and unlimited throughput.
Basic concepts in Kadena
To learn more about the project, you first need to read through the following important concepts in the Kadena project.
Kadena's Public Blockchain
Kadena's Public Blockchain Platform, originally conceived by Kadena founder Will Martino, is a proof-of-work parallel consensus mechanism that improves throughput and scalability while maintaining integrity. Security and integrity are found in Bitcoin. To put it simply, the Kadena project is considered a faster, more secure and potentially more scalable Blockchain.
Private Blockchain (Private Blockchain) Kuro
Kuro or formerly known as ScalableBFT is a Kadena private Blockchain solution provided for businesses. Private Blockchain or Business Blockchain is a closed Blockchain – only authorized people participate in validating the network (through things like mining or holding coins and depending on the consensus mechanism of the Blockchain).
Language Smart Contract Pact
Pact is a new programming language that is intended to be used to write Smart Contracts created by the Kadena project team and becomes a breakthrough solution for Private Blockchains. The Pact language makes it possible for developers to implement powerful, efficient transaction logic, perform critical business operations quickly and with high security.
For Kadena's Dev team, Pact language will be better than Ethereum's Solidity language. Specifically, helping developers easily develop more secure Blockchain. According to the Kadena team, the Pact language, once popularized, will help make Blockchain better for mass adoption because it has the ability to remove the barrier of contract language for all businesses.
ChainWeb
ChainWeb is a protocol to ensure the throughput of a large network load while still maintaining the security that the Kadena team applies.
Issues Kadena Faces
- Scalability: Poor scalability is the problem of most Blockchains today. Very prone to congestion, unstable transaction speed due to poor scalability problem.
- Security and Decentralization: The birth of a consensus mechanism aims to replace the traditional POW model such as PoS (Proof of Stake) but at the same time, security and decentralization are the trade-offs.
Kadena's solution
To overcome these problems, Kadena introduces the concept of ChainWeb – a parallel chain Proof of Work (PoW) architecture that combines hundreds or thousands of individually mined peer chains into a single, capable network capable of achieving throughputs in excess of 10,000 transactions per second.
- The Chainweb protocol links to multiple Blockchains, runs concurrently and divides large computational payloads. At the same time, different chains will share information through the Merkle Tree data structure to achieve cross-chain consensus.
- With multiple parallel threads working concurrently, if specific threads get congested by one dApp , another will still work properly.
- Kadena Solution provides main chain settlement functions for each Blockchain
Kadena's solution is different from the workarounds of sub-chains on other projects. Thus, it can be assessed that Kadena is a high-performance Blockchain, much more powerful than Ethereum, but still ensures the same security and transparency as the original principle of Bitcoin.
Outstanding features in the Kadena . project
- Infrastructure for developers: Kadena is the only platform that provides a complete decentralized infrastructure for builders. Combines groundbreaking on-chain architecture with tools for mass adoption, catering to a full team of blockchain features with the ability to launch in days without having to build from scratch.
- Safe, Smart Contracts: Pact is a smart, easy-to-understand programming language that anyone can read. Pact makes it easier to create secure smart contracts. It automatically detects errors, removing you from complicated processes like those on Ethereum. And it has been tested in the manufacturing field for two years.
- Scalability: Unlike other platforms, Kadena was created to provide support for global financial systems. Their protocol is constantly expanding, continuously improving TPS (Transactions Per Second). With a multi-chain structure, Kadena is the only scalable and scalable Layer 1 Proof of Work (PoW) platform up to over 9 million transactions executed on the NYSE per day.
- Security: To address the security and throughput needs of financial services clients, Kadena's protocol runs on the Proof of Work (PoW) consensus mechanism that is Bitcoin's consensus protocol, instead of Proof. of Stake (PoS). To achieve groundbreaking scalability, the Kadena project has recombined multiple Bitcoin-like chains, improving both throughput and scalability while maintaining the same security and integrity as Bitcoin.
- Efficiency: When multiple chains are active at the same time, Kadena's energy usage is also unaffected. Its multi-chain structure makes it the only platform that can deliver high energy efficiency with high TPS (Transactions Per Second).
- Transaction Fees: The Kadena project will feature the first Crypto Gas Stations that will allow businesses to eliminate all transaction fees for their customers, so that dApp customers will not have to pay any fees. .
- Ideal Ecosystem: The Kadena Project works with any service, so you can build as you please and anywhere. Supported with an integrated ecosystem of products and services in businesses, Mining, DeFi , Oracles, Interop, Smart Contract , wallets and exchanges... will definitely be an advantage for developers to build applications use to make the most of available resources.
Some information about KDA Token
Kadena token (KDA) is a cryptocurrency used to pay for computation on the Kadena public blockchain. Simply put, miners who join Kadena's public blockchain validating network via miners will be rewarded with KDA tokens for that mining. The transaction fees that users pay on the Kadena network will be rewarded to miners, similar to mining ETH on the Ethereum network .
Basic information about KDA Token
- Token Name: Kadena Token.
- Ticker: KDA.
- Contract: 0x514910771af9ca656af840dff83e8264ecf986ca
- Blockchain : Kadena.
- Token Type: Utility Token.
- Token Standard: ERC20.
- Total Supply: 1.000.000.000.
- Circulating Supply: 171,287,601 KDA
Allocation KDA Token
- Miners: 70% of tokens
- Platform: 20% of tokens
- Investor: 6% of tokens
- Community: 3% of tokens
- Burn : account for 1% of tokens
KDA Token Release Schedule
Tokens are distributed from January 20, 2021 to the end of 2121
KDA Token Sale
KDA Token Use Case
Tokens are used to reward participants in the KDA mining and mining network on Kadena's Public Blockchain.
In addition, KDA is also used to pay for Smart Contract transactions when participating or interacting on the Kadena network
Roadmap – Kadena project development schedule 2022
You can monitor the situation here .
Communication
- Pact Core v1
- Sign Kadena transactions with Ledger hardware wallet
- Wallet API support to sign multiple transactions in one request
- Search accounts and check balances in block explorer
- Chainweaver Token Support
Ecosystem
- Kaddex, DEX Launched on Kadena
- Launch of Original Tokens (kBTC, kETH, kUSD) on Kadena
- Marmalade, the NFT standard, launches on Kadena
- Ecosystem Initiative Phase 1
- Ecosystem Initiative Phase 2
- Key Ecosystem Development Partnerships
- Co-marketing to promote Kadena's ecosystem
- Additional Global Exchange List
- List of US exchanges
- Kadena EVM decentralized bridge infrastructure testing
- Kadena-Cosmos IBC bridge (Terra) trial
- Lending platform infrastructure
- Launch of Kadena . Sustainable Mining Initiative
- Kadena v2 . developer documentation
- Development Program, Ambassadors, and Sponsorship Phase 2
- Community Bootcamp
Project team, investors and partners of Kadena
Kadena . project development team
- Will Martino (Founder): Will is the lead engineer for Juno – the blockchain prototype of JP Morgan (JP Morgan is the global leader in financial services), and formerly the Technical Lead at the SEC and Quantitative analysis unit.
- Stuart Popejoy (Founder) : Stuart manages JP Morgan's emerging Blockchain technology team, and has 15 years of experience building trading and exchange backbones for the financial industry.
- Monica Quaintance (Technical): Monica holds a role as a database engineer at Rent The Runway and a specialist at the SEC, prior to that she worked at investment banking for Cushman & Wakefield, a services firm. US commercial real estate.
- Mark Nichols (Senior Engineer): Mark has extensive experience in Haskell development (Haskell is a programming language), with extensive experience in financial systems, DSL design, and big data.
- Ben Jessel (Development) : Ben is a financial services consultant with over 18 years of experience advising clients in consulting firms including Accenture, Deloitte and Capco. Before Kadena, Ben ran Capco's blockchain.
- Vivienne Chen (Communication & Media): Vivienne brings experience in journalism, online media, blogging and creative writing, having previously worked in editorial work at Scholastic.
Partners and investors
The project has investors and partners from famous companies such as Microsoft, Apple, JP Morgan, ...
How to earn and own KDA token
Currently, there are the following ways to earn KDA tokens:
- Join as a miner, mine KDA on the Kadena blockchain.
- Join Kadena's Future Token Sale.
Store wallet and place to buy and sell KDA tokens
Currently, the KDA Token is an ERC-20 token on the Ethereum network , so the token is stored on Metamask and Coin98 Wallet.
You can buy KDA at Gate.io or Kucoin.
Through this article, you must have had your own opinions about the Kadena project. The above article is not intended as investment advice, so is not responsible for any of your investment decisions. But we will support you all the way to understand the basics and succeed in this extremely potential market!