What Is Kadena and How to Buy KDA?

The debate on Proof of Work vs. Proof of Stake is here since they have become mainstream. They are related to scalability and security, so many crypto projects significantly emphasize these. 

One such project which focuses on this problem is ‘Kadena.’ Even though it’s based on the Proof of Work mechanism, it also says traditional projects based on PoW are not scalable but have found a way to scale thousands of transactions.

Let’s learn more about Kadena (KDA).

What Is Kadena Blockchain?

Kadena is a layer-1 blockchain that, like Bitcoin (BTC), relies on a Proof-of-Work (PoW) mechanism. 

In contrast to Bitcoin, which operates on a single blockchain, Kadena achieves proof-of-work consensus by combining numerous parallel blockchains. This results in an increase in throughput, which, in turn, addresses the scalability issue without compromising decentralization or security. 

The Kadena blockchain is a hybrid blockchain that combines aspects of both public and private blockchains. As a point of clarification for the audience, public blockchains foster growth since they do not place any caps on the number of users who can participate, and they are also accessible to anyone who wants to invest in them. 

On the other hand, access to private blockchains is restricted to the blockchain itself, and users must acquire access to and use the network. 

However, hybrid blockchains operate differently than any of these traditional systems. They are accessible to everyone while maintaining values such as honesty, openness, and safety in their operations.

In contrast to other platforms, Kadena is intended to serve as the driving force behind international financial systems. As more chains are added to the network, the protocol automatically scales to accommodate the increased number of transactions occurring each second.

What Is KDA Token?

The Kadena ecosystem uses its cryptocurrency, denoted by the symbol $KDA. The price of Kadena is currently $0.7729, and its total market capitalization is $771.96 million. 

In the same way that Ethereum is used on Uniswap (UNI) and OpenSea, the Kadena token is used to conduct transactions on the network. In the future, it will also be utilized for trading in DeFi and NFTs.

Since Kadena was only launched in 2019, there is a supply limit of one billion, which the team calls "emissions." This limit will be released over the next 120 years. This indicates that the supply of Kadena coins will be completely mined in 2139. The total supply of Kadena is 1 billion.

History of Kadena (KDA) 

Kadena was started by Stuart Popejoy and William Martino, who were formerly responsible for developing the first blockchain for JP Morgan and leading the SEC's Crypto Committee. 

Kadena's primary objective is to facilitate the widespread use of blockchain technology. Before introducing Kadena in 2016, the company's founders had already established themselves as industry leaders in blockchain and cryptocurrency solutions. The mainnet launched in 2019.

Stuart Popejoy was the leader of the Emerging Blockchain group at JPMorgan. Will Martino was hired after serving as the Tech Lead for the SEC's Cryptocurrency Steering Committee, which led to his exposure to the recruitment process. Will and Stuart constructed JPMorgan's initial blockchain, now called JPM Coin, together.

Features of KDA 

Security

Kadena relies on Proof of Work, a dependable, secure, and battle-tested protocol, to meet its clientele's throughput and security requirements in the financial services industry.

No-cost Transactions

They have gone one step further by providing the first crypto gas station, enabling businesses to erase all client transaction fees. This removes a significant barrier to the widespread adoption of decentralized applications (dApps), making it possible for us to offer nominal transaction fees to consumers.

Safer Smart Contracts

Whether developing your first smart contract or launching your 100th decentralized application, Pact makes it easy to design safer smart contracts. You won't have to worry about being exploited on Ethereum or any other unreliable platforms if you use Pact because it finds problems on its own.

Energy Efficient

The fact that energy usage remains the same even if there is high demand for the network or high traffic makes Kadena unique and energy efficient.

What Makes KDA Unique?

Kadena presents itself as a project that has the potential to make global financial institutions more accessible. This is made possible by its excellent scalability to execute hundreds of thousands of transactions in a single second.

The utilization of a two-blockchain system by Kadena contributes to the platform's enhanced levels of both security and efficiency. Including the Chainweb and Kuro blockchains ensures that the Kadena network maintains its safety and integrity.

The majority of the currently available blockchain solutions need to satisfy the high-security protocol requirements that are necessary for enterprises. Kadena asserts that its Proof-of-Work (PoW) and Proof-of-Stake (PoS) blockchain systems can offer businesses the highest possible level of security while simultaneously satisfying their throughput requirements.

Kadena is used by businesses not just because its transaction fees are very low but also because it offers Crypto Gas Stations, which effectively eliminate the need for transaction fees. Because users are responsible for paying the marginal transaction fees, everyone using the network will incur minimal charges.

How to Buy KDA Coins?

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including KDA, users can now trade easily and seamlessly.

If you already have a CoinEx account, this is how to purchase and sell KDA coins on CoinEx:

• To access your CoinEx account, visit the website or launch the app and enter your email and password.
• Put funds in your account to make KDA purchases. You can deposit the funds via bank transfer, credit card, etc.
• Once you have funds in your account, you may buy KDA coins by going to the KDA trading page and choosing the trading pair you wish to use.
• Tokens (USDT, BTC, ETH, and CET, etc.) can be exchanged for KDA. Put in your order and the quantity you want to buy.