We have come a long way from the advent of the blockchain technology. Today, BTC has become a household name but this has also led to the overcrowding of the crypto market with many variations of the technology. While each technology has its own pros and cons, Kadena is a project that aims to combine the advantages of a multitude of different technologies. This makes the proposition of the network unique and interesting. It is considered a JPMorgan spinoff as the co-founders have worked at JPMorgan’s blockchain team. In this guide, we will delve into how Kadena is synergizing the different technologies the blockchain world has to offer.
What is Kadena?
Kadena is a layer-1 proof-of-Work blockchain that provides enterprises with the power of blockchain all the while retaining the features of a private blockchain. The PoW consensus mechanism is known for its safety and security but also its lack of scalability and low throughput. The network has enabled a system that has combined the security of PoW with unmatched scalability. It is designed for enterprises by being energy efficiently with lightning-fast speed, highly scalable and secure. Moreover, Kadena has also gone one step further and has allowed businesses to eliminate transaction costs
The Kadena blockchain comes with its own smart contract language. Smart contracts are usually written in Solidity which is a new language created for this technology especially. This means that there are not a lot of developers well-versed in the language. However, Kadena Pact Smart Contracts has the world’s first human-readable smart contract language. Anyone can read and write the Pact language – increasing the ease of use and positioning it better for mass adoption. Moreover, the Pact Smart Contracts are also considered to be one of the safest in the market.
Future outlook
Kadena is one of a kind. With its PoW security, high throughput as well as unique smart contract language. The unique proposition of the network makes it a good investment in the long run. The network has strong fundamentals along with good technical which further boost the bullish future outlook.
According to the estimates of Wallet Investor, the cryptocurrency is expected to operate at a price level of $10 in a year’s time while the five-year projection places it at $24. Digital Coin Price has similarly bullish predictions for Kadena. Per their estimates, the cryptocurrency will end the year at $8 and reach towards $22 by 2026.
