HomeKNOWLEDGECryptoKadena (KDA) - Full of potential Blockchain platform

Kadena (KDA) – Full of potential Blockchain platform

1. What is Kadena?

Kadena is a platform blockchain, more specifically a hybrid blockchain (mixed blockchain) including public blockchain, private blockchain and Pact smart contract programming language. Kadena Blockchain Layer 1 was born to solve the scalability problem of current blockchains.

The Kadena Vision is founded on the idea that blockchain can revolutionize the way the world interacts and transacts. But for mass adoption, chain technology and the ecosystem that connects it to the business world need to be re-imagined from the ground up. The founders built a proprietary on-chain architecture and created the tools to make blockchain work for business – at a speed, scale, and energy efficiency previously thought unattainable.

2. KDA project development team:

Will Martino (Founder)

Will is the chief engineer for Juno – formerly known as “JPMorgan's Blockchain prototype” (JP Morgan is the global leader in financial services), and was formerly the Technical Lead at the SEC and Unit quantitative analysis. The SEC is the United States Securities and Exchange Commission.

Stuart Popejoy (Founder, CEO)

Stuart manages JP Morgan's emerging Blockchain technology team, and has 15 years of experience building trading and exchange backbones for the financial industry.

Monica Quaintance (Advisor)

Monica holds a role as a database engineer at Rent The Runway and a specialist at the SEC, having previously worked at investment banking for Cushman & Wakefield, an American commercial real estate services firm.

Mark Nichols

Mark has extensive experience in Haskell development (Haskell is a programming language), with extensive experience in financial systems, DSL design, and big data.

Ben Jessel

Ben is a financial services consultant with over 18 years of experience advising clients in consulting firms including Accenture, Deloitte and Capco. Before Kadena, Ben ran Capco's blockchain.

Vivienne Chen

Vivienne brings experience in journalism, online media, blogging and creative writing, having previously worked in editorial work at Scholastic.

Partners and investors

The project has investors and partners from famous companies such as Microsoft, Apple, JP Morgan, ...

KDA_Partners

3. Purpose of the project

Kadena builds the technology that makes blockchain work for everyone. Kadena's ecosystem supports real-world use cases for businesses and entrepreneurs, providing the security of Bitcoin, virtually free gas (transaction fees), unparalleled throughput, and Pact – the most secure smart contract language with built-in error detection.

Current problems

  • Ability of extension:The problems of the current blockchain are poor scalability, easy congestion, unstable transaction speed due to scalability issues.
  • Security and Decentralization:Many consensus mechanisms exist to replace the traditional POW model, such as Pos (Proof of stake) but trade off security and decentralization.

Solution

Kadena Development Team bring to Chainweb. This is a parallel chain PoW architecture that unites hundreds and thousands of separately mined peer-to-peer chains in a single network.

Chainweb's parallel network model helps maintain security without using Sidechain like many other projects. At the same time, the model uses a part of the Blockchain that can handle large numbers of transactions. The development team's tests show an extremely good level of security improvement, intending to produce about 1000 more different chains that can be used publicly.

  • The Chainweb protocol links to multiple Blockchains, runs concurrently and divides large computational payloads. At the same time, different chains will share information through the Merkle Tree data structure to achieve cross-chain consensus.
  • With multiple parallel threads working concurrently, if specific threads get congested by one dApp, another will still work properly.
  • Kadena Solution provides main chain settlement functions for each Blockchain

Kadena's solution different from the sub-threads' workarounds on other projects. Thus, it is possible to evaluate Kadena Is one High Performance Blockchain, much stronger than Ethereum but still ensure the security and transparency as the original principle of Bitcoin

Model

4. Infrastructure for developers

Kadena is the only platform that provides a complete decentralized infrastructure for builders. Combines groundbreaking on-chain architecture with tools for mass adoption, catering to a full team of blockchain features with the ability to launch in days without having to build from scratch.

Smart contract, safe

Pact is an intelligent programming language, easy to understand that anyone can read it. Pact makes it easier to create secure smart contracts. It automatically detects errors, removing you from complicated processes like those on Ethereum. And it has been tested in the manufacturing field for two years.

Ability of extension

Unlike other platforms, Kadena was created to provide support for the global financial system. Their protocol is constantly expanding, continuously improving TPS (Transactions Per Second). With a multi-chain structure, Kadena is the only scalable and scalable Layer 1 Proof of Work (PoW) platform up to over 9 million transactions executed on the NYSE per day.

Security

To address the security and throughput needs of financial services clients, Kadena's protocol runs on the Proof of Work (PoW) consensus mechanism which is Bitcoin's own consensus protocol, instead of Proof of Stake ( PoS). To achieve breakthrough scalability, project Kadena has recombined many Bitcoin-like chains, improving both throughput and scalability while maintaining the same security and integrity as Bitcoin.

Efficiency

When multiple chains are active at the same time, Kadena's energy usage is also unaffected. Its multi-chain structure makes it the only platform that can deliver high energy efficiency with high TPS (Transactions Per Second).

Transaction fee

Project Kadena there will be Crypto Gas Stations The first allows businesses to eliminate all transaction fees for their customers, so dApp customers won't have to pay any fees.

Ideal Ecosystem

Project Kadena works with any service, so you can build as you please and anywhere. Supported with an integrated ecosystem of products and services in businesses, Mining, DeFi, Oracles, Interop, Smart Contracts, wallets and exchanges... will definitely be an advantage for developers to build applications use to make the most of available resources.

5. Components of the Kadena blockchain platform

Kadena includes a public chain (layer 1) protocol called chainweb and a layer 2 protocol called Fuel. Public networks and Layer 2 networks can interact with each other through Pact smart contract language.

  • Chainweb (Layer 1): Kadena's public blockchain, Chainweb, is the only forked and scalable Layer 1 PoW network in production today. It uses PoW (Proof of Work) consensus to improve throughput and scalability without secrecy.
  • Pact . smart contract language: Pact makes it easier to design more secure smart contracts, whether you're writing your first contract or launching your fiftieth dApp. It is fundamentally different from other contract languages. It is readable by non-developers. It automatically detects errors, freeing you from the exploits you would face on Ethereum and other insecure platforms. And it has been tested in production applications for over two years.
  • Kuro (Layer 2): Kuro has been shown to support up to 8.000 transactions per second on 500 nodes and is available for evaluation on AWS and Azure. Lightning + BTC powers El Salvador, but Chainweb's layer 1 scalability and Kuro's near-instant ultimate could power the entire world.

6. Roadmap

  • DeFi & dApps

Confidentiality – In Progress

Lending Platform – Design Phase

Support for new projects – Ongoing

Developing NFT Projects – In Progress

  • Communication

Kadena fiat – Looking for a partner

Kadena Sustainable Mining Initiative – Q4/2021

Ethereum Bridge Launch – In Progress

ETH Bundle on Kadena – Q4/2021

Testnet Bridge to Celo

Testnet Bridge to Terra

Testnet Bridge with additional EVM chain

  • Marketing

Interface upgrade – Q4/2021

Relaunch the Kadena . website

Ambassador Upgrade – In Progress

  • Wallet

Ledger wallet support – Q4/2021

Expand more wallets

Extension Wallet Integration

7. Outstanding parameters

Outstanding parameters of the Kadena blockchain (April 25, 04):

  • Total circulating supply: 184,647,926.72 KDA
  • Trading volume in 24 hours: 519,633,722,399 VND
  • Marketcap: 9,814,406,137,599 VND;
  • Total Supply: 1,000,000,000 KDA.

Basic information of Kadena project token – KDA coin

Token metrics

  • Token Name: Kadena Token.
  • Ticker:
  • Contract: 0x514910771af9ca656af840dff83e8264ecf986ca
  • Blockchain: Kadena.
  • token type:utility token.
  • Standard Tokens:
  • Total Supply: 1.000.000.000
  • Token Allocation:

KDA_Allocation

  • Miners:70% of the tokens
  • Platform:20% of the tokens
  • Investors:6% of the tokens
  • Community:3% of the tokens
  • Burn: accounts for 1% of tokens

8. Pieces of the Kadena ecosystem

Overview of the puzzle pieces on Kadena collected by me from many different sources. Let's start learning about the Kadena ecosystem together!

DEX

Kadena has projects AMM DEX or:

  • KadenaSwap:AMM DEX has launched beta and closed beta from May 5 but so far has not run the mainnet. No information was found on whether the project is intended to operate in the future. You can see the code on the project's Github here.
  • Kadex: AMM DEX native on the Kadena ecosystem. Currently, this Dapp only has two basic functions: Swap and liquidity mining, and the functions of lending, farming, staking, governance and bridge will be available in the future. Currently, the application's TVL volume is only 1 million dollars;
  • Anedak:An AMM DEX has gone live with 300k TVL in protocol, built natively on Kadena. Currently, only 3 tokens are traded on the app including KDA, ADK (project token) and FLUX.

Comment: On the new Kadena system, there are only two AMM DEXs with a very small amount of TVL - $1.3 million for two AMM DEXs, so it can be seen that the most important part with DeFi on Kadena is still extremely sparse, and the number of users is also very low. completely insignificant.

This means that the ecosystem needs to improve both in terms of the quantity and quality of projects, as well as the number of users (through different channels). incentive program or liquidity mining).

NFT, Games & Collectibles

Kadena has a way to combine gaming, NFT as follows:

  • UFO Gaming:A gaming project and IDO gaming on Kadena. This is not a native project on Kadena but the project has run in many other chains, Kadena is just one of the project's chains. The project has a market cap of about 500 million USD with more than 30 holders.
  • Kaden Artist: NFT Market on Kadena, currently the project has not released a product and does not have a website. The project Twitter has also been established since October 10.
  • ColorBlock:NFT Market went live on Kadena first, but the project only supports pixel art with low resolution. You can create and buy NFTs on this marketplace. Currently the project has no users using the application.
  • Babena: An NFT collection on the Kadena ecosystem. Currently, this set of NFTs has also not begun to be sold and is not yet traded.

 Comment: NFT on this ecosystem is extremely sketchy and lacks users. The marketplace for NFTs on the platform is also incomplete, making it impossible to start NFT trading on the platform.

Looking at other ecosystems, when the ecosystem was just starting to develop, NFTs in the system sprang up and brought a large number of users in the ecosystem, although the idea is nothing new (just collectibles). fork famous NFT sets such as BAYC, Punk,…) but also brought a certain excitement to the NFT array.

However, on Kadena, there is only one such project, and this project has not started to launch NFT. Therefore, the NFT market on Kadena is still very rudimentary and not yet qualified for development.

Other puzzle pieces

  • Chainlink and API3: Shark oracle works on the Kadena ecosystem. This is an extremely necessary combination for the infrastructure of the ecosystem to be complete, creating a premise for the future development of Dapps.
  • PandaCoin: Meme coin on Kadena. However, the project is still very small, has not issued a token and does not have a website.
  • Wrapped Bitcoins:WBTC is in the preparation phase to bring this token to the Kadena network.
  • Hypercent Launchpad:A native launchpad project on Kadena. Currently, the project has not been put into operation.
  • KDLaunch: A native launchpad project on Kadena has not started yet.
  • Kadena Explorer: One explorer of the chain generated by ChainWeb. The functions on this explorer are relatively few and limited.

Comment: Kadena already has the main infrastructure pieces, but there are still a lot of shortcomings to overcome and develop further. On the user side, the ecosystem lacks dashboards to find Dapps in the system, explorers with token tracking functionality and many other features, making it difficult for a beginner with the system to want to find out about the status of the system. system encountered many difficulties.

The system launchpads are also available, but no projects have been launched on the two applications. This is understandable because the number of projects and the growth rate of projects on the Kadena system are still relatively modest, so the launchpads have not had a place to play.

Memecoin is not an important "array", but it also shows whether the ecosystem has a lot of traffic and interest, because it is only in an ecosystem with a large number of people interested that memecoin projects start. rise. On the Kadena system, there is only one memecoin project and it has not been put into operation, making me feel clearly the current underutilization of this ecosystem.

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