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Have you found yourself stumbling on the project Kadena? Wondering if it really is great tech or if they are actually using an out of date consensus mechanism? In this article we’ll cover both the fundamental and technical side of things to give you a comprehensive review of Kadena and what kind of future we think the project could see.

Kadena Review

What is Kadena?

Kadena is a decentralized blockchain targeting the financial sector that focuses on security and scalability, unlike many layer 1 blockchains Kadena utilizes the same consensus mechanism proof of work which some may seem as outdated however with a focus on security this allows Kadena to achieve Bitcoin level security. Kadena one true aim is for the true mass adoption of blockchain and crypto technology.

Team

Kadena was founded by Will Martino and Stuart Popejoy who both created JP Morgans first blockchains and led the SEC’s crypto committee before moving on and building Kadena. Having the experience of building JP Morgans blockchain and being involved wit the SEC gives Will and Stuart the knowledge of what needs to be done to build an enterprise level blockchain that can be used by large institutions to gain mass adoption.

Working alongside Will and Stuart Kadena also has Dr. Stuart Haber who is the co-inventor of the blockchain and the most cited author in Satoshi Nakamoto’s Bitcoin white paper on board as an advisor. Haber started working with Kadena as an advisor to help develop Kadenas NFT platform which provides institutional garde provenance, on chain minting and custom marketplaces.

Chainweb

As mentioned earlier Kadena currently utilizes a proof of work consensus mechanism which is known for being slow and hard to scale, Kadena combats this scalability issue by using a multi-chain architecture, alongside Kadenas public blockchain Chainweb there are dozen and dozens of chain running parallel allowing for Kadena to scale by spreading out transactions and traffic between these chains. During 2020 Kadena doubled the amount of live chains from 10 to 20, essentially doubling the potential transactions per second while maintaining a high level of security.

Kuro

While Kadena has its layer 1 blockchain Chainweb it also has a layer 2 solution called Kuro, capable of achieving up to 8,000 transactions per second across 500 nodes, with complete interoperability with Chainweb through Kadenas smart contract language Pact.

Kadena Tokenomics

Kadena at the time of writing this has a market cap of $260 million ranking it the 146th largest cryptocurrency. With a total circulating supply of 217,125,596 and a max supply of 1,000,000,000 there is currently around 25% of the total supply in circulation.

Kadenas native toke KDA is used in a similar send as Ethereums ETH as it is used to compensate miners for mining blocks and processing transactions on the network, it is also what users use to pay the transaction fee with.

Kadenas KDA was allocated in the following way:

  • 70% to miners
  • 20% to the platform
  • 7% to investors
  • 3% to constributers

Kadena can be purchased on most major exchanges such as Binance and Kucoin.

Is Kadena better than Solana?

The biggest difference between Kadena and Solana is the consensus mechanism that they use, while Kadena uses what some may call an old school mechanism in proof of work, Solana has adopted a proof of stake consensus.

As a smart contract and payments platform it is hard to give a clear cut answer on which is better as while Kadena may be capable of achieving higher TPS and security in the future through their multiple blockchain layout Kadena has not withstood the same levels of traffic as Solana has.

Is Kadena better than Ethereum?

Kadena can achieve higher transactions per second than Ethereum however they both have similar levels of security and decentralization. While Ethereum is a well established blockchain with a very large ecosystem and community, Kadena tackles another sector that is being designed for enterprise level actions and use cases with a strong emphasis on security and its scalability which Ethereum struggles with.

With Ethereums scalability issues and its congestion it is not suitable for handling the volume of traffic that Kadena is designed for, while Ethereum targets more commercial usage Kadena is focused on enterprise level.

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