Kadena is a sharded, scalable Proof-of-Work smart contract platform for businesses and entrepreneurs. Kadena's team strives to make blockchain work for everyone. Its members offer a completely decentralized infrastructure for developers. The company started as an enterprise blockchain entity in 2016 and launched the Kadena platform on January 15, 2020.
The main features of the platform are safe smart contracts, free transactions, energy efficiency, security, and industrial scalability. To ensure safety, the developers introduced Pact, the smart contract language which automatically detects bugs. Also, Kadena has the first crypto gas station that allows businesses to eliminate all transaction fees for their customers. In addition, Kadena's unique architecture enables it to improve energy efficiency as the number of Transactions per Second (TPS) increases and 20 new blocks are created every 30 seconds. To secure transactions, the platform relies on the Proof-of-Work algorithm while sharding technology helps it to avoid scalability issues inherent to other PoW-based networks such as Bitcoin. As more chains are added to the network, it scales to a higher amount of TPS. Thus, the platform can handle over 9 million transactions every day.
The list of Kadena products includes the public protocol Chainweb, Simple Payment Verification (SPV), the layer 2 blockchain Kuro, the smart contract language Pact, and the dApp toolkit for rapid development.
Chainweb is a fundamental breakthrough in scaling PoW-based public blockchains. Pact is a smart contract language readable by non-developers, which makes designing smart contracts effortless, automatically detects bugs, and protects users from exploits existing on unsafe platforms. Kadena uses an SPV smart contract to move tokens between Kadena chains which enables users to create multiple accounts under a single key.
The Kadena token
The Kadena token (KDA) is a digital currency that powers the Kadena ecosystem. The emission of Kadena tokens started on January 15, 2021, and will finish by 2025. The maximum supply was planned to be 1 billion coins. However, 10 million KDA were burnt at launch so the total number of tokens in the economy is 990 million. 70% of coins are paid to miners as a reward, 20% is a platform share, 6% of KDA is reserved for ecosystem initiatives and future sales, 3% is a contributor share spent on employees, consultants, and advisers. The remaining 1% is burnt.
KDA is used to pay transaction fees, compensate miners for verifying blocks, and execute smart contract codes. The platform share can be used for the developer and economic grants, ecosystem initiatives, and community-growing initiatives. The more applications join the network, the greater is the utility of the Kadena token.
The KDA tokens are issued through two processes: mining and release of allocated tokens. The platform's coin release rate is 22.08 million tokens per year and 2 million tokens per month. Miners are rewarded for each new block while the rewards decrease every six months. Also, there exist pre-allocated tokens that are defined in the genesis block on each Kadena chain.
The Kadena token can be bought and traded on a number of cryptocurrency exchanges such as KuCoin, Hoo, Hotbit, CoinEx, CoinMetro, and Bittrex. To store KDA you can use Chainweaver, ZelCore, Bag of Holding, and Terminal wallets.
The Kadena team
The Kadena team consists of intelligent, motivated, sincere, and curious people. Will Martino is the founder and the president of Kadena. He previously served as Lead Engineer for JPMorgan and was also Tech Lead for the SEC’s Cryptocurrency Steering Committee and Qualitative Analytics Unit.
Stuart Popejoy is the founder and CEO of the company with 15+ years of experience building trading systems. He previously led JPMorgan’s Emerging Blockchain group. Other employees include Doug Beardsley, the Director of Engineering, Anastasia Bezis, the Director of Operations, and Kate Hee Kyun Yun, a software engineer.
Among Kadena’s partners are multiple data and news providers, exchanges, NFT exchange Colorblock, and a Kadena-based Flux token.