Web 3.0 has been gaining popularity. This is a web that uses blockchain technology to create a decentralized internet. Web 3.0 brings more virtual reality and artificial intelligence to the internet and works fundamentally with crypto.
The best opportunities in crypto for the coming years are NFTs, metaverse coins and Web 3.0 coin. KDA is a Web 3.0 coin used to process transactions on Kadena’s blockchain, a hybrid open-source blockchain platform that delivers high speed, security, scalability, and ease of use.
We will be looking at Kadena, one of the most profitable and innovative blockchains. Also, we’ll explore why, where, and how to buy Kadena KDA to support Web 3.0 and, at the same time, give yourself a chance to make a profit.
Let’s get right to it!
What is Kadena?
Kadena, the only Layer 1 Proof of Work (PoW), blockchain protocol offering both private and public networks is scalable. Kadena utilizes Chainweb, a Layer 1 open-source chain architecture to secure Bitcoin. This includes no-cost transactions and complex smart contracts.
Kadena’s unique infrastructure is decentralized and built for mass adoption because of its multi-chain approach. Kadena guarantees industrial scaleability, which can easily be scaled to meet the needs of global financial institutions. Kadena offers safer smart contracts and innovative energy efficiency. It also provides PoS security. Kadena, in contrast to other platforms such as Bitcoin which consume more energy when network demand rises, promises that it will remain efficient at scale and provide more transactions using the same energy input. The protocol processes up to 480,000 transactions per minute (TPS) using braided chains.
Developers can create smart contracts using the smart contract language of this protocol. PactThis allows for easy writing on the blockchain. Pact, unlike other smart contract languages, is specifically designed for accurate and transactional execution on a highly-performance blockchain. It supports formal verification, upgradable contracts, and is human-readable. This allows you to build secure, high-performance smart contracts. Kadena also has a layer-2 private network. Kuro, That developers have the ability to use for developing private, secure, and scalable applications (DApps).
Kadena’s goal is to spread blockchain mass adoption. They provide tools that are useful for developers and other organizations.
The protocol’s native token Kadena(KDA) is used to cover costs on the Kadena blockchain and reward miners for producing blocks.
Kadena History
Kadena was established by Will Martino, Stuart Popejoy and former JPMorgan Blockchain Development Team members in June 2016.
Stuart Popejoy led JPMorgan’s Emerging Blockchain group before founding Kadena and has 15 years of experience building trading systems and infrastructure in finance. He developed and designed transformative technologies including smart contracts and blockchain. Stuart was a programmer and analyst at various companies before joining JPMorgan.
Will Martino, the company’s chief executive officer. Previously, he worked as Fintech Manager at JPMorgan and was the Lead Engineer for JPMorgan’s blockchain prototype Juno. He also led the Securities and Exchange Committee’s Cryptocurrency Steering Committee and Qualitative Analytics Unit.
Another prominent founder of Kadena is Dr. Stuart Haber, the co-inventor of blockchain technology and the most cited author in Satoshi Nakamoto’s Bitcoin whitepaper.
Private token sales have helped Kadena raise more than USD 25,000,000. Private token sales were launched in January 2018. The initial round raised USD 2.25 million and 4.5 million KDA tokens. For 17.2 million KDA, the second round raised USD 12 million and was held in April 2018. Kadena secured USD 20 million through another token sales to fund the third round. Kadena unveiled its mainnet on December 2019,
Kadena also raised capital from various crypto venture capitalists such as Multicoin Capital and CoinFund.
Kadena: How does it work?
Kadena is a hybrid Blockchain that combines Layer 1 protocol Chainweb with a layer 2 protocol Kuro. Interoperability is ensured by Pact, a smart contract language.
Kadena has an incredible throughput because it braids chains together. It can therefore offer 20 different blockchains that work simultaneously to validate transactions. Kadena can thus simultaneously mint many blocks, increasing its throughput.
Kadena says that DAG, or Directed Acrylic Graphic (Directed Acrylic Grid), allows one PoW blockchain scaling to theoretically unlimited amounts. However, its DAG structure is fixed, and multi-channel, meaning Kadena’s blockchains only communicate with three peer chains’ blocks instead of randomly confirming transactions. This makes Kadena’s blockchain more useful for entrepreneurs and businesses.
Kuro is Kadena’s private blockchain, optimized for enterprise-grade use cases. The network is available to developers for the creation and deployment of private, scalable and secure DApps. In the beginning, Kuro editions only were accessible via Amazon Web Services and Microsoft Azure. But in 2020, it became fully open-sourced.
Kadena’s smart contract language, Pact, enables smart contract execution between private and public networks.
Kadena’s user-friendly interface allows anyone without any prior technical knowledge to develop and integrate DApps on the blockchain.
Moreover, Kadena offers crypto gas stations, which allow businesses to pay for their customers’ gas fees and facilitate adopting blockchains for business.
Kadena Network: How Secure?
Kadena relies on Chainweb, a Layer 1 open-source chain architecture to connect its Proof-of Work Blockchains. Each chain confirms its three peer chains’ blocks, thereby increasing throughput linearly with the addition of new chains. Kadena chain’s have one view of all transaction history. This increases security. For an attacker to target a single chain, he would need to fork multiple chains.
Kadena (KDA) Tokenomics
KDA tokens’ total supply is 1 billion. KDA tokens can be used to pay for gas and rewards miners. Kadena pre-mined many rounds of KDA. This is the Kadena token distribution plan:
- In the next 100+ year, more than 700,000,000 KDA tokens can be extracted.
- Over the next nine years, 200 million will go to Kadena’s platform.
- 90 million KDA tokens have been distributed among investors, contributors, and Kadena’s strategic reserve.
- 10,000,000 KDA tokens were used in the launch.
Kadena’s price reached an all time high of USD 24.22 in November 2021. The CoinStats page provides information about the Kadena market, current price and 24-hour trading volume.
Kadena Markets
Kadena, one of the most popular blockchain protocols in crypto-industry is now available to trade on nearly all the major exchanges. Some popular crypto exchanges include Binance, Kucoin, WazirX, Gate.io, Hotbit, Bittrex, etc.
How to Buy Kadena (KDA), on Binance
Binance ranks among the top cryptocurrency exchanges for trading volume. Binance offers Kadena for sale at low fees. It also has high liquidity, which allows you to buy and sell digital assets quickly to capitalize on market opportunities. These are the steps you need to follow if you want to purchase Kadena via Binance.
Sign up for an account at Binance
If you don’t have a Binance account already, you can create one by providing your valid email address and a phone number. After verifying your email address, you can use the phone number to establish two-factor authentication. You’ll then need to complete your KYC verification which usually takes a few minutes. KYC requires a current photo and an ID. An American resident can submit their social security number. The KYC process takes a few minutes, after which you’re set to trade Kadena or any other cryptocurrencies of your choice.
You can deposit funds
You will need to make a deposit into your Binance account. A fiat currency can be selected, which includes USD, EUR or INR. Different deposit methods are supported by Binance, such as credit/debit card, bank transfer and third-party transfers. You can deposit cryptocurrency into your Binance wallet. Once you’ve deposited enough funds through a payment method of your choice into your Binance wallet, you’re one step closer to buying Kadena.
Select a trading pair
KDA/BTC is one of three options for trading KDA on Binance: KDA/USDT and KDA/BUSD. If you wish to trade KDA/USDT, you must buy USDT with the fiat currency you’ve deposited. After you have USDT in your Spot Wallet placed, visit Markets to search for KDA/USDT.
KDA for sale
Select the KDA/USDT Market section and then enter the USDT amount you want to purchase KDA. Once you have done that click on Buy. Your order will be fulfilled in seconds and your KDA tokens reflected on your exchange wallet.
Buy Kadena (KDA) on Kucoin
KuCoinIt is the fastest growing crypto exchange. Follow these steps to purchase KDA from Kucoin:
- Create an account on Kucoin and perform KYC verification to unlock the exchange’s full features.
- Go to “Buy Crypto” and select “Fast Buy” in the drop-down menu.
- Enter the fiat currency of your choice; the exchange will tell you how much USDT you’ll receive.
- On the next page, select “Bank Card,” enter your card details, and complete the transaction.
- The USDT coins you’ve just purchased will be reflected in your wallet.
- Now, go to “Trade,” select “Spot Trading” from the drop-down menu, and search for KDA/USDT.
- You can place an order for Kadena in the amount you want to spend.
- Within seconds your order will be processed and KDA tokens will appear in you wallet.
Storing Kadena
Once you’ve managed to buy Kadena, the following step is to choose a secure wallet to store KDA tokens securely. Your coins can be kept in your exchange wallets, but in this case, they’ll become vulnerable to attacks by online hackers. We strongly recommend that you keep your crypto assets safe in a private wallet using both private and public keys. Depending upon your preferences in investing, you may choose either a digital wallet (CoinStats Wallet) or a physical wallet like Ledger nano.
Conclusion
Kadena has been a pioneering project in crypto markets. Despite the fact that the Kadena price has fallen dramatically in recent months, it is still a great investment over the long-term.
Check out our CoinStats guide, “What Is DeFi,” to gain a fundamental understanding of Decentralized Finance. And see our “Crypto Portfolio Trackers” to learn more about the best crypto portfolio trackers in the market.
Information about Investments Information on this site is for informational purposes only. CoinStats does not endorse any recommendation to sell, buy or hold securities or financial products or instruments. This information does NOT constitute financial advice or investment advice.
It is highly volatile, so do your own research. Only invest in what you can afford. Kadena’s past performance is not indicative of the future.