Kadena (KDA) hits a new all-time high at $18.38 as prices consistently rise. Specifically, KDA rose over 43% during the past 24 hours and more or less 210% over the last week.
But let’s backtrack a little bit, as there’s a pretty good chance you haven’t heard of this crypto before. It’s a cryptocurrency that isn’t that high in rank based on market capitalization. In fact, it’s only the 64th largest crypto. However, Kadena has big plans for itself.
The KDA hybrid blockchain was first launched in January 2020, and two former JP Morgan employees founded the project. They are Stuart Popejoy and Will Martino, and they used to lead JP Morgan’s Blockchain Center for Excellence.
What makes Kadena stand out is its private chain called “Kuro,” its public chain, as well as its open-source smart contract known as “Pact.” This allows just about anyone with a basic understanding of programming to create their own smart contracts.
According to KDA’s team, Kadena is not only more affordable compared to its competitors, but it’s also apparently more scalable. While it’s true that there are countless blockchain projects out there claiming to be the Ethereum killer or the next Ethereum with better benefits, it’s clear that Kadena is serious about offering more to its users.
For instance, Kadena utilizes something known as “braided chains,” which allows it to handle a whopping 480,000 TPS. Plus, the blockchain itself combines 20 sub-chains in order to support all the transactions that take place on the main chain. As a result, the blockchain’s hash rate significantly increased by a factor of twenty.
Other than all the other benefits it touts, it seems that the team was serious about Kadena having nominal transaction fees. In fact, it claims to be the first one to introduce what is known as the “crypto gas station.” Apparently, this helps businesses get rid of consumer transaction fees, which is a huge plus.
Given how much Kadena has already achieved, the team doesn’t plan on stopping or slowing down anytime soon. In fact, the developers still plan on creating blockchains with as many as 100 sub-chains working alongside each other in the long run. While Kadena isn’t as renowned as Solana, Ethereum, Cardano, and others, it’s definitely showing a lot of promising potential, and we look forward to seeing what else it has in store.
