A low-profile altcoin that integrates features from both Bitcoin and Ethereum has recently entered the top 100 crypto assets by market capitalization.
Kadena (KDA), a hybrid blockchain platform, reached a market cap of $3 billion on Sunday, surging 175% in just seven days. Currently trading at $17.45, it is now the 69th largest crypto asset by market cap.
Kadena was created by former JPMorgan blockchain developers Stuart Popejoy and Will Martino.
Using the proof-of-work consensus model originally introduced by Bitcoin, the developers claim they have developed a safe, scalable way to implement smart contracts and compete with Ethereum.
The protocol’s Pact software is designed to allow anyone to create a smart contract.
“Pact is the first truly human-readable smart contract language. It lets anyone write clearly, directly and safely onto a blockchain – a true advance for automated contracts.
Pact automatically detects bugs and keeps the purpose of code clear… freeing you from the exploits you’ll face on Ethereum and other unsafe platforms.”
Kadena also says they’ve found a way to scale the proof-of-work consensus model that was first introduced by Bitcoin.
“Unlike other platforms, Kadena is designed to power global financial systems. Our protocol continually scales to higher TPS (Transactions Per Second) as more chains are added to the network.
With its revolutionary multi-chain architecture, Kadena is the only scalable layer-1 Proof of Work (PoW) platform capable of scaling to settle the 9+ million trades executed on the NYSE [New York Stock Exchange] each day.”
Other features of the Kadena platform include no-cost transactions, energy efficiency and industrial scalability.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
