Notably, the crypto industry has, since its biggest boom, continued to witness a series of crypto assets, projects and innovations. As the industry continues to expand, the number of crypto projects or assets increases astronomically, thereby availing investors with bountiful options. Today, there are thousands of crypto assets rocking the virtual sphere, with over hundreds leading the highly volatile market. Undoubtedly, one of those crypto assets is the Kadena coin (KDA). Just like other forms of cryptocurrencies, the Kadena coin is one of the available crypto assets available for investors to explore within the sphere. With this article, new and existing investors will learn more about the rudiments of the KDA virtual currency, its background, and how they can seamlessly acquire it.
An overview of Kadena
Founded in 2016, the Kadena manifested as a crypto asset designed to reportedly preserve the security and scalability of blockchains. Its founders, Stuart Popejoy and Will Martino believe that “blockchain could revolutionise how the world interacts and transacts.” Notably, the project is designed to run as a proof-work asset. Apart from serving as a form of investment, the Kadena coin is usually use to pay, compute on the blockchain.
Just like other cryptocurrencies, the asset can be mined and its miners are rewarded. Even though the Kadena coin has continued to wax stronger, particularly since the fourth quarter of 2021, it is yet to come into the mainstream, like BTC, Ether, Doge, and a host of others. Users pay fees in Kadena coins in a bid to effect their transactions. According to Kadena, there are about 990 million allocated KDA.
The Kadena coin has a native blockchain, identified as Chainweb. It is designed as a public layer-1, proof-of-work (PoW) network, capable of improving scalability with its distinctive sharding mechanism. Notably, a whitepaper by Kadena sees Chainweb as a platform which “provides unparalleled increases in PoW throughput while keeping the global hashrate, and thus energy required, constant. The confirmation latency of Chainweb is also significantly decreased from traditional PoW and is potentially even lower than that of PoS [proof-of-stake] systems.”
It added that “Chainweb avoids liquidity and centralisation problems associated with using staked channels for scaling while also staying in the existing global regulatory context. We present Chainweb as a solution by which PoW can be scaled such that it supports true decentralised economy.” Reportedly, the Kadena project resolves the scalability issues of Bitcoin as well as the security lapses ravaging Ethereum. This simply means it serves as a reliable alternative for developers and other end-users.
As designed, Chainweb functions with a mechanism, called Bitcoin’s Simple Payment Verification Capability and Smart contracts. With the Simple Payment Verification Capability, users are able to easily verify specific transactions without having to use the whole blockchain.
Additionally, the Kadena ecosystem also possesses a private layer-2 blockchain, Kadena Kuro. As designed, it possesses a “Byzantine Fault Tolerance,” which makes it usage suitable for business. According to reports, Kadena Kuro presently enjoys the patronage of a healthcare consortium. As revealed, the firm relies on the blockchain to facilitate the collection and maintenance of its insurance provider information. Kadena Kuro usually supports over 8,000 transactions per second within its 500 nodes. It also serves as a side-chain to a public blockchain to hasten every transaction on the network.
As observed on its website, the Kadena project avails blockchain services that tend to address existing issues faced by various developers. The protocol boasted that its project possesses stable, efficient, and trustable features to ease the processing of numerous mainstream transactions. According to Kadena, its blockchain also possesses the techniques to resolve over eight million trades currently executed everyday on the New York Stock Exchange.
Worth noting that the Kadena native blockchain usually avails a frictionless transaction cost. It allows for near-zero fees transactions irrespective of the number of blocks transmitted in a single transfer of virtual assets. Additionally, the blockchain runs by enabling the verification of thousands of transactions within the twinkle of an eye. More so, Chainweb, as predicted, possesses the capacity to develop into about 1,250 chains. Reportedly, each of those chains are projected to execute over 10,000 transactions per second. With this, it is correct to say Chainweb is a reliable and scalable blockchain solution.
How to purchase Kadena coin
Investors who intend to purchase Kadena coin should follow the steps highlighted below:
- Choose any of the existing crypto exchanges.
- Create or register on the exchange you have chosen. In creating an account, you need to get your ID, email address verified. This means you must have it all in place before creating the account
- After the successful registration and verification by the exchange, proceed to make the deposit.
- Purchase KDA with the funds through which you have deposited. You only need to click on the amount of the Kadena intended for purchase and then use the buy function.
Keynotes on Kadena coin
The Kadena token offers industrial scalability that can assist the existing international financial structure. With the combination of the PoW and PoS consensus mechanism, the Kadena blockchain will aid swift transactions. Currently, it has scaled its network from 10 to 20 blockchains with a huge tendency to add more in the nearest future. This further highlights the lucrative future that awaits the promising ecosystem. According to the plan, the last addition to Kadena is a private Kuro layer-two blockchain. It supports about 8,000 transactions every second using over 500 nodes.
Kadena is posing to be one of the more scalable blockchains. The developers Stuart Popejoy and Will Martino envisioned this when they decided to allow the ecosystem to adopt the two prominent consensus mechanisms. What could one expect from a virtual token created by some of the finest developers in the cryptocurrency space. Stuart Popejoy built systems and solutions in finance for over a decade and a half before joining Will Martino to pioneer the Kadena token. Will Martino also had sound knowledge in the same field. Prominent developer Dr. Stuart Haber also contributed to the project. Worth noting that haber is the most cited author in the Bitcoin whitepaper. It’s safe to say that Kadena is a child of noble parents, and this background has contributed to the excellence of the token.
Kadena coin and its reactive pattern to market situations
Worth noting that the token has offered price stability that has been very promising for investors. Despite the harsh invasion of the bear market, Kadena still maintains good stability. The KDA token has offered a Return On Investment of 225.62% as its all-time price difference ranges from $28.25 to $0.1213. According to CoinCodex, KDA hit a surprising all-time high of $28.25 around late last year during the crypto boom.
Then, KDA finished the year at $16.88 while it started 2022 at $12.59, since the token has struggled for stability. Its current state of $1.63 reflects how the token hasn’t kept up with its promises of being a dependable altcoin. Though, it’s imperative to note that 2022 has been a turbulent year for the cryptocurrency space as many projects, firms, and coins have endured harsh circumstances.
Meanwhile, KDA isn’t immune to market struggles, the token is a bit reactive to every prevailing market situation. Like what we witnessed early last year during the crypto boom when the general market maintained a peaceful atmosphere. KDA reacted and repaid the faith of investors with good returns. Similarly, when the industry is currently enduring a difficult time, the coin responded as well. This speaks volumes of how the token depends on the market situation for decline or to make progress.
Proposed Coin Distribution
As revealed, KDA total coin distribution pattern is still the same and totals 990 million tokens. During the launching of the ecosystem, about 10 million tokens were burned. It reflects the difference between its 1 billion theoretical supply and 990 million total supply. Notably, the 10 billion belonged to the allocated portion committed to the strategic fund. Surprisingly, the plan became scrapped before the project manifested.
According to its whitepaper, Miner will receive about 70% of KDA’s total supply. Plans revealed that about 700 million KDA would be mined across the next 120 years. The platform share sits at 200 million KDA, which is about 20% of the total supply. However, 3.7 million KDA has been released since the start of 2021 while 196.3 million KDA will be emitted in the next 9 years.
Investors, Contributors, and others will receive a minimal 6% share of the total supply. This amounts to about 90 million KDA. In this segment, Series A and Series B investors and others appears entitled to this allocation. While miners on the network will get KDA for mining blocks and users pay fees in KDA to process their transactions on the blockchain. So far, the whitepaper reflects that the total emission of the KAD took place via two different processes; mining and the release of allocated coins.
The future of Kadena coin
The future of Kadena coin is quite exciting, there have been good encouraging signs of what could become of the coin in the nearest future. Analysts and experts are optimistic that the token will birth good returns before the end of the year. There is a huge belief that KDA will grow over the years. Irrespective of these predictions, one thing is certain, KDA will follow the regular cryptocurrency market trend in a reactive pattern. Therefore, a good atmosphere in the cryptocurrency space will benefit KDA.