What Is Kadena And Will The KDA Price Keep Rising?


Cryptocurrency enthusiasts might be wondering why Kadena has been gaining so much value these past few weeks. There is a lot to live up to as a new ecosystem focusing on blockchain, gasless transactions, efficiency, and better smart contracts. The KDA price has lost momentum since the all-time high earlier, but the market remains relatively solid. 

A Brief Overview Of Kadena

It is intriguing to see how the Kadena team focuses on some of the pain points in the cryptocurrency industry today. For example, while Bitcoin is the most secure network, no other blockchain can live up to the standard. However, Bitcoin doesn’t have smart contracts or high throughput. Ethereum does, but it is not gasless. Kadena aims to address all those concerns through its native ecosystem, removing all compromises from the table. 

Making smart contracts safer to use is a crucial benefit. Through Pact, that process is effortless, regardless of experience with smart contract building. It is, according to the team, capable of detecting bugs automatically. Combined with the no-cost transaction aspect, there is a lot to like. Businesses can remove all transaction fees for customers, which can benefit future DApp deployment and development. 

Source: CoinGecko

Furthermore, Kadena partnered with Celo, Cosmos, Ledger, Polkadot, and many other projects already. The team’s focus goes to building a complete package, spanning governance, NFTs, payments, DeFi, interoperability, and real-world use cases. It also seems more energy efficient than other blockchains, a hot topic of debate in the current blockchain and cryptocurrency landscape.

Those aspects are intriguing and can help explain the recent Kadena price surge of nearly 900% this past month. It is a significant performance, although one that isn’t entirely surprising either. KDA has gained almost 11,000% in the past year. So although the KDA all-time high of $25.34 may be a bridge too far to maintain right now, the market is not slowing down just yet. With a $2.8 billion market cap, anything remains possible. 

ERC-20 KDA Is A Thing

Although one may not find KDA on Coinbase or Binance (yet?), that may be a matter of time. The Kadena Community put together an ERC-20 version of KDA – wrapped tokens – for trading on Uniswap. Users can swap Ether and other ERC-20 assets for wKDA with ease. Every wKDA can be exchanged for KDA at any time, although that might require an extra step or two. A very big step in the right direction to bypass delays centralized exchanges impose when listing new assets. 

Kadena Mining Is Possible

Unlike other tokens launching recently, Kadena still requires miners to help secure the network. While no one can mine with their CPU or GPU, there is still plenty of mining activity going on. Kadena uses the Blake (2s-Kadena) algorithm, and the native ASICs for this network can be directed to various mining pools. The current block reward of 1.078 KDA may not seem like much, but it is essential to look at the bigger picture.

High Profit With ASIC Mining

On the mining topic, you can only mine KDA through native ASIC hardware. While the use of ASICs will lead to mining centralization eventually, it is not that big of concern just yet. However, the current Goldshell KD5 ASICs, which mine at 18 TH/s while drawing 2,250W from the wall, generate roughly $370 in profit per day. 

That is, assuming one has access to relatively affordable electricity, There is also the upfront investment cost of the miner, which can be as high as $55,000 when looking for units in stock. 

CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected] None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments.