Let’s say you want ice-cream. And out of every flavor available, you can only choose one. It might seem like an easy decision but speaking for the most of us, we would be standing right there in front of the showcase, trying to weigh the pros and cons of both the ice-creams. Wouldn’t it be great if we could eat both the ice-creams? And the need gave birth to two scoops ice-cream. In the same fashion, Kadena is planning to give us the best of both worlds.
Kadena is a hybrid blockchain. Which means that it combines the elements of both public blockchain,which incentivizes growth by not limiting the number of users and is open to all, and private blockchain, where the parties are limited from the access of the blockchain and the users require access to the network before they use it. In hybrid blockchain, however, even though the blockchain is open to everyone, the blockchain still has features like integrity, transparency, and security. Kadena aims at being a hybrid blockchain.
Even though cryptocurrency is a revolutionary cry against the authoritarian Big Finance, it still has the problem of energy. A lot of fossil fuels are consumed to mine Bitcoin. And ever since this was made apparent, lots of new cryptocurrencies are trying to make the mining process of the currencies more viable and environment-friendly. The Proof-of-Stake versus Proof-of-work debate centers on this point along with the issue of scalability. Kadena placed its bet on the Proof-of-work POW mechanism. Now, the POW mechanism has the problem of scalability but it seems Kadena has apparently solved the issue. Testing will be done later in the year to see whether the claim of 100,000 TPS by Kadena is possible or not.
Price Movement KDA
At the time of writing this article, the value of Kadena is $7.81, a 14% over the past twenty four hours. Kadena also adding NFTs to its network by coming into partnership with Immutable Records, following which the value of the coin jumped from $2.72 to its current value. Kadena promises its users safer smart contracts that has protection unlike that of Ethereum, No-cost transactions by the introduction of a gas station which eliminates transaction fees, Energy efficient at scale which has already been described in detail above, Proven security because of POW, and Industrial Scalability that has been devised the Kadena team to power the evolution of the global financial system.