If you have searched for high performing tokens this week, you're bound to come across KAVA. This token managed to register an over 25% gain in the last 7 days, even though it's showing slight decline in the last 24 hours. So 'What is Kava (KAVA)?'
What is Kava?
Kava is a Layer 1 blockchain that took and combined the best parts of Cosmos and Ethereum. To quote the developers of Kava,
Kava is a decentralized blockchain that combines the speed and interoperability of Cosmos with the developer power of Ethereum.
Kava uses the PoS (proof-of-stake) consensus mechanism to ensure the security of the network. And Its goals are to provide its users with speed, interoperability, scalability, flexibility and low transaction fees. Its network is governed by the Kava DAO (Decentralized Autonomous Organization) which composes of stakers and validators. The Kava DAO is used to decide:
- changes to be made on the network
- how the network functions
- how incentives are distributed
Kava’s smart contracts have been audited by 'CertiK', 'B-Harvest' and 'Quantstamp' and no vulnerabilities have been detected so far.
Kava (KAVA) Token
Kava has its own native token, KAVA. Because this token is uncapped, the total supply increases over time but there are over 158 million KAVA token in circulation to date.
The token is used for the purposes of:
- governance
- Security
- Incentive
KAVA has an all-time high price of $9.12 registered in 2021 and an all-time low price of $0.287137 registered in 2020.
Kava Currently
KAVA currently has a market cap of $462,294,218 and ranked 92nd as compared to there token's market cap. And the price of the token is around $1.04 today (This price may change by the time you read this).
KAVA price in the last 7 days
In the last 7 days, KAVA has shown a tremendous growth with a 25% increase. The reason behind this rally could be the launch of Kava's $750 million incentive program for its developers.
With this incentive and if the crypto market continues with its somewhat bullish form, I think KAVA's rally can even be higher.
So what are your thoughts on Kava?...... Let me know in the comment section.
If you enjoyed reading my posts, please follow me for more updates and do share your comments, I would really love to hear from you.
Disclaimer
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.