Kadena

What is Kadena?

Kadena is a publicly accessible blockchain that strives to enhance scalability. It introduces a novel smart contract language called Pact, which incorporates formal verification and upgradeable smart contracts. Additionally, Kadena utilizes a fresh Proof-of-Work (PoW) consensus mechanism called Chainweb, which consists of multiple separate chains that operate simultaneously to process network transactions. This architectural approach theoretically enables a high volume of transactions at the fundamental level, eliminating the necessity for supplementary scalability or functionality solutions on secondary layers.

Recent Video Interview

Main points of the interview:

• Introduces "Cadena Connect" strategy for diverse community interaction.
• Discusses rebranding efforts and the shift towards a more mature brand identity.
• Highlights new initiatives including wallets, bridges, stable coins, shallow nodes, and Web AEN technology.
• Absorbs Kaden Eco into the main organization for better alignment and support for builders.

What Makes Kadena Unique?

Kadena aims to serve as a centralized resource for building blockchain applications, addressing various obstacles that have hindered widespread adoption of blockchain technology. These include scalability, security, and ease-of-use concerns.

1. Scalability: Kadena's public blockchain utilizes a Proof of Work protocol that resolves layer-1 scalability challenges. It achieves this by intertwining multiple Bitcoin-like chains. As transaction volume increases, the network can expand to larger configurations (e.g., from 10 chains to 20 chains), thereby accommodating higher throughput capacity.
2. Security: To enhance security, Kadena introduces Pact, a smart contract language that is Turing Incomplete and incorporates Formal Verification. Turing Incompleteness reduces the language's attack surface while preserving domain-specific functionality. Formal Verification enables smart contract authors to mathematically demonstrate that their code is free from bugs.
3. Ease-of-use: Kadena has been developed with the intention of integrating into conventional business workflows and being user-friendly for non-technical individuals. Pact code is executed directly on the ledger and stored in a human-readable format. Pact code includes error messages, and Pact contracts are upgradeable, allowing developers to rectify errors or adapt logic as per evolving business requirements. Kadena stands out as one of the pioneering blockchain projects that provides such a comprehensive set of features.

Moreover, Kadena offers users the advantage of a hybrid blockchain platform, which seamlessly integrates public and private blockchains. This interoperable network enables users to leverage the benefits of both types of blockchains without compromise, unlocking previously unattainable use cases.

Kadena Team Background

Kadena was established in 2016 by Stuart Popejoy and Will Martino. Before founding Kadena, Stuart Popejoy held the position of leading JPMorgan's Emerging Blockchain group, accumulating 15 years of experience in constructing trading systems and financial infrastructure. Will Martino, on the other hand, served as the Lead Engineer for JPMorgan's blockchain prototype Juno and took charge of the Securities and Exchange Committee's Cryptocurrency Steering Committee and Qualitative Analytics Unit. Dr. Stuart Haber, who played a significant role in the inception of Kadena, is renowned as the co-inventor of blockchain technology and holds the distinction of being the most cited author in the Bitcoin whitepaper.

Additionally, Kadena secured funding from various crypto venture capitalists such as Multicoin Capital, CoinFund, Amino Capital, and other entities.

Kadena Project Development

As of 2023, Kadena is shifting its focus towards ecosystem development, emphasizing technical advancements to streamline the builder onboarding process and enhance the efficiency of its blockchain. To achieve this, Kadena has updated its live roadmap, outlining continuous iterations in key engineering and technical areas to benefit the builder community and the overall ecosystem. The revised roadmap includes the following upgrades:

• Kadena.js: Introducing new tools, resources, tutorials, and a learning platform aimed at improving the developer onboarding experience.
• Pact: Enhancements to Kadena's smart contract language to enhance the user and builder experience.
• Chainweb: Upgrades to Chainweb that aim to boost the blockchain's efficiency, scalability, and decentralization.

Kadena Price Analysis

As of November 24 2024 Kadena has a marketcap of $245M. This is {{percentagefromath}} from its all time high of $27.64. In terms of its tokenomics, there's a total supply of 1B with 30% currently outstanding. Keep in mind Kadena has a fully diluted value of $825M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude