The best cryptocurrencies are the King (Bitcoin) and the Queen (Ethereum). Other coins are only following suit of the King and the Queen. But some coins want to break the barrier set by the royalty and establish their own through the market. Kadena (KDA) is an example of this.
KDA is a hybrid blockchain; it incorporates the characteristics of public blockchain as well as private blockchains. For clarification of the readers, public blockchains encourage growth by not limiting the number of users and it is also open to everybody to take a stake in. Private blockchains on the other hand are limited to the access of blockchain and require the users to gain access before being able to access the network before utilizing it. However, hybrid blockchains are different from both of them. They are open to everybody but still employ features such as integrity, transparency, and security.
While many believe cryptocurrency is going replace the finance market, or more particularly, the centralized aspect of the finance market, cryptocurrency still has a problem of energy. A lot of traditional sources of energy are harmful to the environment when they are burned to make energy. The energy generated would mostly be utilized in mining cryptocurrencies. New cryptocurrencies in the market are aware of this fact and therefore are trying to become a better option than Bitcoin and Ethereum by being environment friendly.
The Proof-of-Stake versus Proof-of-work debate is central to the energy issue. The issue of scalability is also related to this. Kadena relies on the Proof-of-Work (POW) mechanism. It believes that is the future of the crypto market. The issue of scalability still persists in the POW mechanism but Kadena’s (KDA) model claims to have solved the issue. Kadena plans to test out its claims soon, one of which the 100,000 Transactions per second (TPS).
Current Price Movement – Kadena (KDA)
At the time when this article is being put down into words, the current value of KDA, the native token Kadena, is $16.83. The 66th ranked coin has a trading volume of $56,476,566, an increase of 35.85% over the past twenty-four hours. The maximum supply of the coins is 1,000,000,000, out of which 158,266,841.46 KDA are in circulating supply. The previous month has been crazy for the coin as it has a monthly low of $5.69 and a monthly high of $28.25. It can mainly be attributed to Kadena joining the DeFi brigade, it launching NFT projects on its platform, and providing new exchange listing and staking opportunities.
