News on the platform caught the attention of users. Active is at 54O place in CoinMarketCap.
Although not yet in the top 10 of digital assets, Kadena (KDA) has recently experienced a bull run, with an approximate value of 500% in a matter of weeks.
Second Dice of CoinMarketCap, the asset is currently trading at $21.35, with trading volume of approximately $3.36 billion.
Kadena is an ecosystem of smart contracts that guarantees “the security of Bitcoin, GAS (Ethereum Transaction Fee) virtually free and unrivaled throughput.”
Kadena x DeFi
On November 6th, the wKDA token was released, which runs inside all Ethereum protocols related to decentralized finance (DeFi).
Until then, the KDA token was not cross-chain compatible, that is, it was not interoperable, a fundamental characteristic for any DeFi project to work.
another big launch of the ecosystem was its ability to embrace non-fungible tokens (NFTs) projects, something that has been quite successful lately, especially because of blockchain games such as Axie Infinity, Crypto Cars, Bomb Crypto etc.
One of the project’s promises is to guarantee cheap rates and great processing power, even within the traditional molds of Proof-Of-Work.
Interestingly, while most blockchain ecosystems are moving to the Proof-Of-Stake consensus model, in which mining is accomplished by accumulating a certain amount of tokens in wallets, Kadena still works within the traditional Proof-Of-Work model .
The project, according to the developers, is capable of executing up to 480 thousand transactions per second due to its “braided chain” technology.
The technology works as follows: the main network (main chain) is fed through the combination of other ten subnets (subchains), which would increase performance by up to 10 times.