Currency Overview: What Is Kadena?
KDA is a digital currency that is used to pay for compute on the Kadena public chain. Similar to ETH on Ethereum, KDA on Kadena is the manner by which miners are compensated for mining blocks on the network and is the transaction fee that users pay in order to have their transactions included in a block. The Kadena network is designed to unite public applications, private blockchains, and other interoperable chains in one place, driving traffic to the high-bandwidth computer at the heart of the Kadena public chain. Kadena’s smart contracts are written in Pact, an open-source, formally-verifiable, human-readable, and Turing-incomplete language. Pact is designed for ease of use and adoption by developers and non-technical professionals alike. Gas is paid to the network for the execution of Pact smart contracts on the Kadena blockchain. The max supply is fixed at 1 billion tokens to be mined over 120 years. (Description provided by CryptoCompare)
Coin network hashrate(H/s):
Investors and others: 7%
|Mkt. Cap. Penalty
About Kadena’s Team
Kadena was founded in 2016 by a team of blockchain and cryptocurrency veterans, all of whom left their spots at leading institutions and organizations working on blockchain tech. Prior to founding Kadena, Stuart Popejoy led JPMorgan’s Emerging Blockchain group. The network’s co-founder Will Martino was recruited from his role as the tech lead at the U.S. Securities and Exchange Commission’s Cryptocurrency Steering Committee. Kadena founders Will Martino (left) and Stuart Popejoy, the founders of Kadena The two founders have previously worked together on building JPMorgan’s first blockchain, now called the JPM Coin. Kadena held four funding rounds since its inception in 2016 and is backed by Multicoin Capital, Primitive Ventures, INBlockchain, Susquehanna International Group (SIG), Compound, and a consortium of other notable VC investors. Dr. Stuart Haber, the co-inventor of blockchain technology and the most cited author in Satoshi Nakamoto’s Bitcoin whitepaper, is a member of Kadena’s advisory team, alongside other established names in the industry.
FAQ and Forum
- What consensus mechanism does Kadena use?
Proof of Work
- What hashing algorithm does Kadena use?
- What is the target block time for Kadena?
1.5 seconds (20 blocks every 30 seconds).
- What are the block rewards?
Block rewards are readjusted against a set schedule every six months, with roughly half of the remaining minable coins issued as block rewards every 20 years. See the complete miner block reward schedule here.
- What is KDA?
See the What is KDA page for information regarding Kadena’s native cryptocurrency, KDA
- Does Kadena have a block explorer?
View the block explorer here which visualizes the mining, propagation and braiding of blocks across multiple Kadena chains in real time
- Where can I find Kadena’s whitepapers?
Kadena has published whitepapers for the public protocol Chainweb, the layer 2 blockchain Kuro, and the smart contract language Pact which can be found here.
- Is Kadena open source?
Yes, the open-source repository for the Kadena public blockchain is here.
- Why does Kadena’s public blockchain use proof of work?
Kadena uses proof of work for a few key reasons:Evidence: PoW is the only “battle-tested” consensus protocol primitive.
1、Economic incentive alignment: PoW creates an economic incentive for the majority of the hashpower to validate and honestly support the entire network. It is an open research question if a non-PoW approach can reasonably achieve the same.
2、Regulation: In the eyes of certain financial regulators, proof of work miners are not considered money transmitters, making a probabilistic PoW mining system safer from a US regulatory perspective than a system with more “finality” like PoS.
- How does Kadena scale?
Kadena’s public blockchain scales by providing a mechanism to asynchronously produce many blocks on different peer chains all at the same height, with each block requiring a fraction of the hash power of the total network. This configuration drastically increases the number of transactions per second over the total network.
- How does Kadena deal with congestion?
Transaction costs will rise as the number of transactions rise on one chain. You can set up an account on a less congested chain, where transaction costs are cheaper, and move your tokens through a simple burn-receipt using on-chain SPV. Miners have economic incentive to cooperate with reconfiguring the network to a larger size when the entire network starts to become congested.
- What does it mean to “braid multiple chains”?
Braiding chains together was first proposed for security purposes. In effect, chains are “braided” as each chain’s newly mined block incorporates the Merkle roots of its peer chains. By having multiple mined blocks at the same height each referencing each other’s past, the protocol decreases the duration of time where an attacker could get “lucky” against an honest network. Think of an attacker needing to flip 6 coins and get all heads (mine 6 blocks) vs. needing to flip 12 coins and get all heads (mine 6 blocks from two related chains). The latter is harder. This same intuition applies to Kadena’s multi-chain configuration.
- How are tokens moved between different Kadena chains?
Tokens are moved across chains using a Simple Payment Verification (SPV) smart contract.
- How do I run a node?
- How do I become a miner?