Kadena Blockchain Explained: Price Prediction and How to Buy KDA Coin
Kadena or KDA is a public blockchain network that is based on a braided, parallelised proof-of-work consensus mechanism. The network solves the scaling challenges of Bitcoin and the security issues of Ethereum. To do this, Kadena features a novel consensus method, called Chainweb, and a new smart contract language, called Pact.
Kadena is a highly scalable platform where crypto users and investors can carry out cryptocurrency transactions easily. Read on to know about the history of Kadena, how it works and its key attributes.
What Is Kadena Coin?
Kadena is a hybrid blockchain network that is posing itself as an alternative to its competitors, Ethereum and Bitcoin. Currently, it is the only scalable layer 1 public network that uses the Proof-of-Work consensus mechanism.
The Proof-of-Work consensus mechanism is supposedly the most secure model. But it comes at the cost of scalability. Kadena, which uses the altering “braided multi-chain mechanism”, claims to offer one without compromising the other. It is also energy efficient and offers higher output, scalability and security.
Who Created the Kadena Coin?
Stuart Popejoy and Will Martino founded Kadena in 2016. Before working on the Kadena project, Stuart used to lead JPMorgan’s Emerging Blockchain group and had 15 years of experience in financial infrastructure.
Will Martin has also worked as the Lead Engineer for JPMorgan’s blockchain prototype. Another significant contributor is Dr Stuart Haber, the most quoted author in the Bitcoin whitepaper.
Kadena was created to be a single platform where users can get access to all resources required to develop blockchain applications. It aims to solve many issues that other blockchain networks face, such as scalability and security.
Also Read: Fantom (FTM) Network Crypto: How to Buy and Sell, Price and Advantages
How Does Kadena Work?
As discussed above, Kadena crypto uses a braided multi-chain structure to deliver both security and scalability. This mechanism allows Kadena to verify multiple transactions without compromising delivery time and speed. It has an easy-to-use interface for its dashboard, which is beneficial for the development of dApps.
Its programming language is highly scalable, which can be used for easy integration of decentralised apps. The most fascinating fact about Kadena is its smart contract language – PACT, which offers optimum functionality for blockchain transactions.
What are the Key Attributes of Kadena Coin?
Here are some of the key features of Kadena which differentiate it from the other crypto coins:
- No-cost transactions: Kadena has allowed no-cost transactions for end users with its Crypto Gas Station. It also helps to remove barriers to successful adaptation of decentralised apps.
- Smart contracts: PACT is Kadena’s smart contract language which is readable by humans and also detects bugs automatically. It is easily adaptable by both beginner and advanced developers.
- Uncompromised security: This blockchain is designed for industrial scalability. Kadena is the only one with a crypto mechanism that provides security without compromising transaction speed and scalability.
- Energy efficient: Kadena has a multi-chain network which helps it to be energy efficient while also balancing higher industrial scalability.
How to Buy Kadena Coin?
You need to follow the given steps to buy Kadena Coin in India:
Step 1: Sign up to your preferred crypto exchange platform.
Step 2: Enter your email address and identification proof for verification purposes.
Step 3: After successful verification of your account, deposit the required amount to your account.
Step 4: Select the number of Kadena coins that you wish to purchase. After you click on “Buy”, the purchased coins will be transferred to your custodial crypto wallet.
Kadena (KDA) Price Prediction
As you know, financial markets fluctuate daily, and it is impossible to give any exact data on the performance of the assets. However, experts can make some predictions using past data and digital algorithms. Let’s look at some of the future predictions for 2022 below:
Experts predict that Kadena’s price will be around $2.53 in August 2022 and will continue to decrease until December. However, it will be approximately $2.44 in 2023.
Some experts also believe that Kadena will perform positively in the coming five years and will range anywhere between $5.49 and $20.15.
Also Read: Internet Computer Protocol (ICP): Price, Investment Benefits and Drawbacks
Final Word
What makes Kadena different from other cryptocurrencies is its hybrid blockchain platform. It uses a PoW consensus mechanism that allows up to 8000 transactions per second seamlessly.
This also offers a smooth experience for the developers who can launch decentralised apps on the platform. Owing to its decentralised infrastructure, it can be a good investment opportunity. However, investors are advised to do thorough market research before going ahead.
FAQs
Ans. There is a supply of approximately one billion Kadena coins in the market. However, only 184 million coins are currently in circulation.
Ans. Looking at the past trading records, investing in Kadena can potentially be a good choice. However, crypto markets are highly volatile, and past records do not guarantee a secured future. So, invest as much as you can bear to lose.
Ans. You can buy, sell and trade KDA is any leading crypto exchange platform. Some of the platforms are Binance, KuCoin, Gate.io, OKX and Mandala Exchange. One can purchase Kadena coins by using fiat currencies.
Ans. Kadena uses a braided multi-chain mechanism which is designed to strengthen security. It is difficult for an attacker to jump through the multiple chains of security.
Ans. A smart contract named SPV, Simple Payments Verification, is used for moving tokens in multiple Kadena chains. The algorithm offers ease of scalability to the platform and makes it easy to use.
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
Mutual Fund investments are subject to market risks, read all scheme-related documents carefully.
This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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