Sirwin
Sirwin
An image of a magic machine turning the New York Times into crypto; created by the author using DALL-E-3

Kadena: The Choice of the Inventors of Blockchain Technology

By Crypto Eric | Blockchain Auditor | 23 Nov 2023


30 years of blockchain technology memorialized

When you think about blockchain technology, you probably first associate it with Bitcoin, and Bitcoin with the author(s) of the Bitcoin whitepaper, known as Satoshi Nakamoto. But a careful read of that paper shows that the author(s) stood proudly on the shoulders of others, and three of the eight references in the whitepaper are to the research of two gentlemen: Dr. Stuart Haber and Dr. Scott Stornetta. Those who know their work often call them the "fathers of blockchain" (or of the "meta" blockchain) and point to their commercialization of the pre-blockchain blockchain with Surety.com back in 1995 - more than a dozen years before Bitcoin.

Haber and Stornetta have been on the speaking and consulting circuit, with some great success, but have not jointly done much in product space. They have been speaking about the immutable record  before Bitcoin.

That has all just changed.

Immutable Record NFT

When Haber speaks, he will often pull out a copy of a recent New York Times Sunday edition, and turn to the classifieds. Since 1995, almost every Sunday, a mysterious classified ad has appeared, with strange sequences of letters and numbers - which we now know to be cryptographic hashes representing the data related to the still running Surety.com effort. And now is your opportunity to purchase non-fungible tokens (NFTs) from their Immutable Record NFT offering.

The guys have chosen the Kadena blockchain and are publishing NFTs associated with the hashes posted in the New York Times. Each NFT is associated with an image of the posting in the classifieds, as well as a comical illustration of a key news item of the time, such as the president at the time fainting at a state dinner or a well known musician being on tour.

The NFTs are purchased at auction using the currency of the Kadena blockchain, KDA. The inaugural token sold for 3500 KDA (at the time, around $1,700). Successful bidders also get to have a live Q&A with the innovators.

The gentlemen are quoted as saying they chose to begin with this first collection on Kadena (as opposed to, say, Ethereum) for shared beliefs related to security. They note that they may work with other blockchains for future collections.

Ready to bid?

The second NFT is currently up for auction, ending midnight on 23 November. You can see and bid for it here.

Turning NY Times into NFTs

I do not have any stake or receive any benefit from posting this article from The Immutable Record folks.

If you wish to earn crypto that you can turn into KDA, you may wish to try one of the great crypto faucets. Some I use include:

Cointiply http://cointiply.com/r/Qzawg

Faucet Gamers https://faucetgamers.com/?mref=541

Pipeflare https://pipeflare.io/r/6gfq

Note: the images in this post are my own creation, using DALL-E-3 through OpenAI's ChatGPT.

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Blockchain Auditor
Blockchain Auditor

The Blockchain Auditor blog is focused on accounting and audit issues related to blockchain and crypto-assets. There will be content of interest to those with an interest in topics such as accounting for cryptoassets, audit procedures related to blockchain and distributed ledger technologies, blockchain for improving audit processes, taxation of cryptoassets, and trust.

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