Kadena (KDA) is a hybrid blockchain platform designed to run smart contracts. Its key features are scalability and speed. The high throughput will make KDA crypto a token that will be on-demand among cryptocurrency enthusiasts and average investors.
Kadena coin price today is $6.1662.
Kadena Token Brief History
Work on the project was started in 2016 by a former JPMorgan Blockchain Center for Excellence employee and SEC technical lead. Kadena's core network was released in November 2019.
Since 2018, Kadena token technologies have been used by several insurance companies for collecting data. Today, its customers can search for doctors whose services are covered by their insurance in a blockchain directory. Typically, such data is provided to insurers by various data providers. However, their cost is in the billions of dollars annually. Kadena is fixing the problem by reducing the cost of administering them.
Since 2019, the project has partnered with USCF to develop financial products on Kadena's private network and uses Chainweb smart contracts so customers can access them through Kadena.
In August 2020, the blockchain reached a throughput of 480,000 TPS. This speed was achieved by splitting the core network into 20 braided chains.
How Does Kadena Crypto Operate?
Kadena crypto originally used Proof of Work (PoW) for transaction confirmation. However, since 2020, a hybrid model of two blockchains, such as Chainweb and Kuro, has been used.
This solution allowed Kadena to be the first to scale a PoW-based blockchain while maintaining security. What's more, as this bandwidth strengthens, its power consumption stays at the same level, this mitigates the problem of the PoW algorithm's inefficiencies. The project team aims to create a scalable public blockchain platform that provides the greatest safety.
This project aims to provide businesses with a comprehensive blockchain solution. For this reason, smart contracts in the Kadena blockchain can interoperate between the public and private networks. Network compatibility is achieved with Pact created by Kadena cryptocurrency developers. This programming language ensures that smart contracts can be updated at any time with no forks.
Technologies Used For Kadena Blockchain Operation
Chainweb is based on an improved PoW version. The blockchain comprises several parallel chains that work independently of each other. The algorithm provides high transaction throughput at the base level with no need to use second-tier solutions that ease the development of dApps.
Kuro is a sidechain to Chainweb for increasing transaction speed. Kuro operates on Amazon Web Services and Microsoft Azure infrastructure. It uses Byzantine fault tolerance as a consensus algorithm, meaning that network participants don't have to fully trust each other to reach a consensus on its state.
Since Kuro is a non-public blockchain, it can take full advantage of decentralized networks by keeping user data unavailable for public inspection. Thanks to a Gas station feature, developers and corporate customers can pay transaction fees for users.
Kadena Price Prediction
Kadena offers solutions helpful even for those who aren't interested in cryptocurrencies, which makes it more profitable for investors. Experts also believe in this project, and WalletInvestor says a Kadena coin price will get over $45 at the end of 2025.
A Gov.capital team is even more positive, believing a KDA coin price will reach $180 by the same time. Although PricePrediction experts don't have such high expectations, they suppose a Kadena token price will be over $30 in 2025.
Kadena Cryptocurrency Summary
Kadena is a promising project that both companies and investors believe in. It's a speedy blockchain that claims to solve the problem of scaling PoW networks while making them robust.
Where To Buy KDA Coin?
StealthEX is the safest way to buy Kadena coin. It's the most secure Kadena exchange crypto platform because it requires you to provide basic data for completing your transaction. Just select from over 400 cryptocurrencies and wait a few minutes to get your KDA.
How To Buy Kadena Coin?
Just go to StealthEX exchange and follow these easy steps:
- Choose the pair and the amount for your exchange. For example, ETH to KDA coin.
- Press the “Start exchange” button.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your coins!
You are more than welcome to visit the StealthEX exchange and see how fast and convenient it is.
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.