Difference between revisions of "Kadena (KDA)"

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*Started in: 2018
*Started in: 2018
* [[Mainnet]] release: [https://www.coindesk.com/jpmorgan-spinoff-kadena-launches-public-blockchain-integrates-wallet-to-cosmos-network 1-2020]
* [[Mainnet]] release: [https://www.coindesk.com/jpmorgan-spinoff-kadena-launches-public-blockchain-integrates-wallet-to-cosmos-network 1-2020]
 
*Is building Pact, a formally verifiable [[Smart Contract|smart-contracting]] language for financial applications, and Chainweb, a [[PoW]] [[blockchain]] that uses multiple chains in parallel to increase throughput.
* Is building [[Pact]], a formally verifiable [[Smart Contract|smart-contracting]] language for financial applications, and [[Chainweb]], a [[PoW]] [[blockchain]] that uses multiple chains in parallel to increase throughput.
* [https://proofofwork.news/p/proof-of-work-79 From] [[Proof of Work (Mailing List)|Proof of Work]] #79 (19-11-2019):
* [https://proofofwork.news/p/proof-of-work-79 From] [[Proof of Work (Mailing List)|Proof of Work]] #79 (19-11-2019):
"''[[Mining]] of Kadena's [[public blockchain]] is now live! At the time of this update, there have been over 150,000 [[blocks]] mined. For context, it took [[Ethereum]] 28 days to cross the same milestone. We see this as validation of our approach to scaling Proof of Work using parallel chains. Given that we are currently only available for [[CPU]] mining (we anticipate [[GPU]] mining to open in about a week), we're working hard to encourage and support adoption. We look forward to the full launch of our hybrid blockchain platform in December! Since we've opened up mining, we've quickly seen the [[hash rate]] go from 20 MH/second to between 4-5 GH/second. We're already seeing over 5000 CPUs solving blocks on [[mainnet]]. "''
"''[[Mining]] of Kadena's [[public blockchain]] is now live! At the time of this update, there have been over 150,000 [[blocks]] mined. For context, it took [[Ethereum]] 28 days to cross the same milestone. We see this as validation of our approach to scaling Proof of Work using parallel chains. Given that we are currently only available for [[CPU]] mining (we anticipate [[GPU]] mining to open in about a week), we're working hard to encourage and support adoption. We look forward to the full launch of our hybrid blockchain platform in December! Since we've opened up mining, we've quickly seen the [[hash rate]] go from 20 MH/second to between 4-5 GH/second. We're already seeing over 5000 CPUs solving blocks on [[mainnet]]. "''
==History ==
==History ==
== Governance ==
== Governance ==
=== Admin Keys ===
=== DAO ===


* From their [https://www.kadena.io/cabinet website] (27-8-2024):
''"Kadena Cabinet is at its core a Community Advisory Board (CAB), where KDA token holders come together to influence strategic decisions that drive the Kadena ecosystem forward via an on-chain polling mechanism.''
''By locking their tokens, KDA token holders become Cabinet Members, earning a seat at the table and a voice in shaping the ecosystem's direction. Cabinet Members are rewarded for their commitment to Kadena by earning a return on their locked KDA. Cabinet Members who participate in the polling are rewarded for their contributions to the future of the Kadena ecosystem. The accrued rewards are determined by a tier system based on the KDA lockup time and the participation of polls. After the lockup period, only Cabinet Members who have participated in polling can claim an accrued reward when they unlock their tokens."''
* [https://medium.com/paradigm-fund/c%C3%B8smos-network-starport-v0-17-4871f285c1c8 From] [[Paradigm]] (28-7-2021):
* [https://medium.com/paradigm-fund/c%C3%B8smos-network-starport-v0-17-4871f285c1c8 From] [[Paradigm]] (28-7-2021):


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=== Launch ===
=== Launch ===
=== Token allocation ===
=== Token allocation ===
* [https://www.binance.com/en/square/post/8542398127457 From] [[Binance]] (25-5-2024):
''"Regarding the token supply, Kadena's total KDA is set at 1 billion, of which 70%, or 700 million tokens, are reserved as rewards for network miners. The platform reserves 20%, or 200 million tokens, to fund the continued operation and development of the project. The remaining approximately 5.67% of the tokens were sold to early investors, and approximately 4.33% were used to incentivize employees, consultants and partners."''
=== Utility ===
=== Utility ===
[https://www.kadena.io/kda-token Fees] and you can lock up tokens to vote in the Advisory Board, which you get tokens back for.
=== Token Details ===
=== Token Details ===
=== Stablecoin ===
=== Stablecoin ===
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== Tech ==
== Tech ==


*[[Whitepaper]] can be found [insert here].
*[[Whitepaper|Whitepapers]] can be found [https://docs.kadena.io/learn/resources#whitepapersh1562907056 here].
* Code can be viewed [insert here].
* Code can be viewed [https://github.com/kadena-io/chainweb-node here].
* Programming language used: [https://www.kadena.io/pact Pact], it's own [[smart contract]] language.
* Programming language used: [https://www.kadena.io/pact Pact], it's own [[smart contract]] language.
*[[Proof-of-Work (PoW)|Proof of Work]].


=== Transaction Details ===
=== Transaction Details ===
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* The [[hash]] function for their [[mainnet]] [https://proofofwork.news/p/proof-of-work-76 will be] Blake2S PR 431.
* The [[hash]] function for their [[mainnet]] [https://proofofwork.news/p/proof-of-work-76 will be] Blake2S PR 431.
*From their [https://docs.kadena.io/learn/kadena-faq docs] (27-8-2024):
''"Kadena’s [[Public Blockchains|public blockchain]] scales by providing a mechanism to asynchronously produce many [[Block|blocks]] on different peer chains all at the same height, with each block requiring a fraction of the [[Hash Rate|hash power]] of the total network. This configuration drastically increases the number of [[Transactions per second (TPS)|transactions per second]] over the total network. Every chain of the 20 braided chains has a new block on average 30 seconds in between. Total is 20 blocks every 30 seconds. Which translates to 1.5 seconds theoretical block time.''


''Braiding chains together was first proposed for security purposes. In effect, chains are “braided” as each chain’s newly mined block incorporates the [[Merkle Root|Merkle roots]] of its peer chains. By having multiple mined blocks at the same height each referencing each other’s past, the protocol decreases the duration of time where an attacker could get “lucky” against an honest network. Think of an attacker needing to flip 6 coins and get all heads ([[Mining|mine]] 6 blocks) vs. needing to flip 12 coins and get all heads (mine 6 blocks from two related chains). The latter is harder. This same intuition applies to Kadena’s multi-chain configuration.''
''Tokens are moved across chains using a Simple Payment Verification ([[SPV]]) smart contract."''
*[https://ournetwork.substack.com/p/our-network-issue-48?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoxOTMzNjg0OSwiXyI6IlUwWU9YIiwiaWF0IjoxNjA2MTQ4ODE1LCJleHAiOjE2MDYxNTI0MTUsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.DVHdM1dTiwAO9hKW3DeUeYHZgT-ZgDX58k6eSLp8jCk From] [[Our Network]] (20-11-2020):
*[https://ournetwork.substack.com/p/our-network-issue-48?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoxOTMzNjg0OSwiXyI6IlUwWU9YIiwiaWF0IjoxNjA2MTQ4ODE1LCJleHAiOjE2MDYxNTI0MTUsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.DVHdM1dTiwAO9hKW3DeUeYHZgT-ZgDX58k6eSLp8jCk From] [[Our Network]] (20-11-2020):


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=== Fees ===
=== Fees ===
* From its [https://docs.kadena.io/learn/why-kadena docs] (27-8-2024):
''"While we offer marginal transaction fees for consumers, we’ve gone a step further in introducing the first Crypto Gas Stations to allow businesses to eliminate all transaction fees for their customers, thus removing a key barrier to mass adoption of dApps."''
=== Upgrades ===
=== Upgrades ===
=== Nodes ===
=== Nodes ===
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=== Staking===
=== Staking===
====Validator Stats====
====Validator Stats====
===Liquidity Mining===
===Scaling===
===Scaling===
===Interoperability ===
===Interoperability ===
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* Has [https://www.coindesk.com/hybrid-blockchain-maker-kadena-adds-chainlink-price-feeds integrated] (19-5-2020)  [[Chainlink]] for streamlined pricing feeds.
* Has [https://www.coindesk.com/hybrid-blockchain-maker-kadena-adds-chainlink-price-feeds integrated] (19-5-2020)  [[Chainlink]] for streamlined pricing feeds.
*Has [https://twitter.com/API3DAO/status/1395742718337470466 announced] a partnership and integration with API3 (21-5-2021).
*Has [https://twitter.com/API3DAO/status/1395742718337470466 announced] a partnership and integration with API3 (21-5-2021).
==Privacy Method ==


== Compliance ==
== Compliance ==
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=== Team ===
=== Team ===
* [https://www.coindesk.com/hybrid-blockchain-maker-kadena-adds-chainlink-price-feeds Helmed by] former [[JPMorgan]] blockchain leads
* Team can be found [https://www.kadena.io/our-company here].
* Stuart Popejoy; Co-founder
*[https://www.coindesk.com/hybrid-blockchain-maker-kadena-adds-chainlink-price-feeds Helmed by] former [[JPMorgan]] blockchain leads
 
* Stuart Popejoy; Co-founder and CEO (8-2024)
* [[Tony Pham]]; Head of Marketing at Kadena.
*[[Tony Pham]]; Head of Marketing at Kadena.


=== Investors ===
=== Investors ===
* [https://www.coindesk.com/hybrid-blockchain-maker-kadena-adds-chainlink-price-feeds Raised] $15 million in a 2018 funding round joined by Multicoin Capital and the venture arm of the owners of Fidelity Investments.
* In total seems to have [https://icodrops.com/kadena/ raised] $35.25 million. [https://www.coindesk.com/hybrid-blockchain-maker-kadena-adds-chainlink-price-feeds Raised] $15 million in a 2018 funding round joined by Multicoin Capital and the venture arm of the owners of Fidelity Investments.


=== Partners ===
=== Partners ===

Latest revision as of 04:18, 29 August 2024

Basics

"Mining of Kadena's public blockchain is now live! At the time of this update, there have been over 150,000 blocks mined. For context, it took Ethereum 28 days to cross the same milestone. We see this as validation of our approach to scaling Proof of Work using parallel chains. Given that we are currently only available for CPU mining (we anticipate GPU mining to open in about a week), we're working hard to encourage and support adoption. We look forward to the full launch of our hybrid blockchain platform in December! Since we've opened up mining, we've quickly seen the hash rate go from 20 MH/second to between 4-5 GH/second. We're already seeing over 5000 CPUs solving blocks on mainnet. "

History

Governance

"Kadena Cabinet is at its core a Community Advisory Board (CAB), where KDA token holders come together to influence strategic decisions that drive the Kadena ecosystem forward via an on-chain polling mechanism.

By locking their tokens, KDA token holders become Cabinet Members, earning a seat at the table and a voice in shaping the ecosystem's direction. Cabinet Members are rewarded for their commitment to Kadena by earning a return on their locked KDA. Cabinet Members who participate in the polling are rewarded for their contributions to the future of the Kadena ecosystem. The accrued rewards are determined by a tier system based on the KDA lockup time and the participation of polls. After the lockup period, only Cabinet Members who have participated in polling can claim an accrued reward when they unlock their tokens."

"Kadena has built the framework for the first DAO on its public blockchain called dao.init. As Kadena’s ecosystem continues to grow, the creation of a DAO will allow for the broader community to provide their input in a decentralized manner. The DAO will serve two purposes, 1) allow for the Kadena community to submit and decide on proposals that aim to advance the Kadena ecosystem and 2) establish a decentralized process that can govern the addition of new features to the Kadena platform itself."

Token

Launch

Token allocation

"Regarding the token supply, Kadena's total KDA is set at 1 billion, of which 70%, or 700 million tokens, are reserved as rewards for network miners. The platform reserves 20%, or 200 million tokens, to fund the continued operation and development of the project. The remaining approximately 5.67% of the tokens were sold to early investors, and approximately 4.33% were used to incentivize employees, consultants and partners."

Utility

Fees and you can lock up tokens to vote in the Advisory Board, which you get tokens back for.

Token Details

Stablecoin

"Will add Terra's luna stablecoin to its decentralized exchange (DEX) Kadenaswap, which was announced earlier in September and is expected to roll out at the end of the year."

Coin Distribution

Tech

Transaction Details

How it works

"Kadena’s public blockchain scales by providing a mechanism to asynchronously produce many blocks on different peer chains all at the same height, with each block requiring a fraction of the hash power of the total network. This configuration drastically increases the number of transactions per second over the total network. Every chain of the 20 braided chains has a new block on average 30 seconds in between. Total is 20 blocks every 30 seconds. Which translates to 1.5 seconds theoretical block time.

Braiding chains together was first proposed for security purposes. In effect, chains are “braided” as each chain’s newly mined block incorporates the Merkle roots of its peer chains. By having multiple mined blocks at the same height each referencing each other’s past, the protocol decreases the duration of time where an attacker could get “lucky” against an honest network. Think of an attacker needing to flip 6 coins and get all heads (mine 6 blocks) vs. needing to flip 12 coins and get all heads (mine 6 blocks from two related chains). The latter is harder. This same intuition applies to Kadena’s multi-chain configuration.

Tokens are moved across chains using a Simple Payment Verification (SPV) smart contract."

"Daily transactions on Kadena's 20-chain sharded network. The Kadena public blockchain was successfully scaled in production from 10 to 20 chains. In August, the graph shows the 10 new chains going live. While chain 0 continues to have the most activity because of the applications running on it, transactions have been evenly distributed across the other 19 chains working in parallel.

Chain 9 processing more transactions from and to miners. Since last month, chain 9 has seen an increase in usage as mining pools have been distributing rewards on it. We anticipate seeing similar behavior as other participants on Kadena’s public blockchain migrate to various chains."

Fees

  • From its docs (27-8-2024):

"While we offer marginal transaction fees for consumers, we’ve gone a step further in introducing the first Crypto Gas Stations to allow businesses to eliminate all transaction fees for their customers, thus removing a key barrier to mass adoption of dApps."

Upgrades

Nodes

"Kadena nodes are decentralized across the world. While the United States has the largest share of nodes (39.4%), the majority of nodes are running in a range of countries including China (18.2%), Japan (15.2%), and the European Union (15.2%).

Block time for KDA has been stable at ~3 seconds."

Staking

Validator Stats

Scaling

Interoperability

Other Details

Oracle Method

Compliance

Their Other Projects

Kadenaswap

"Kadenaswap supports multiple protocols. This means that it uses a smart contract language called Pact to support coins from lots of different blockchain protocols, including BitcoinPolkadotCosmos and Ethereum."

Upgrades

Roadmap

  • Can be found [Insert link here].
  • The network is currently (19-5-2020) working on interoperability projects with both Polkadot and Cosmos.

Audits

Bugs

Usage 

"There have been over 60,000 successful token transfers on the Kadena network. That is a 20% increase in the number of transactions taking place over the past month."

  • From Our Network #29 (7-7-2020):

"Since fully launching with smart contract transactions at the start of 2020, the Kadena public blockchain has been experiencing increased usage."

 Pros and Cons

Pros

Cons

Competition

Coin Distribution

Team, investors, Partnerships, etc. 

Team

  • Team can be found here.
  • Helmed by former JPMorgan blockchain leads
  • Stuart Popejoy; Co-founder and CEO (8-2024)
  • Tony Pham; Head of Marketing at Kadena.

Investors

  • In total seems to have raised $35.25 million. Raised $15 million in a 2018 funding round joined by Multicoin Capital and the venture arm of the owners of Fidelity Investments.

Partners

  • From Our Network #29 (7-7-2020):

"In partnership with Cosmos and the Interchain Foundation, Kadenamint (the integration of Kadena’s wallet+IDE Chainweaver and the Pact smart language on Tendermint) was implemented (link)."