Kadena (KDA)

Basics

• Based in:
• Started in: 2018
• Mainnet release: 1-2020

• Is building Pact, a formally verifiable smart-contracting language for financial applications, and Chainweb, a PoW blockchain that uses multiple chains in parallel to increase throughput.
• From 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. "

Governance

DAO

• From Paradigm (28-7-2021):

"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

Stablecoin

• From CoinDesk (10-11-2020):

"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."

Tech

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Programming language used: Pact, it's own smart contract language.

Transaction Details

• Capacity (TPS): 480,000
• Latency:

How it works

• The hash function for their mainnet will be Blake2S PR 431.

• From Our Network (20-11-2020):

"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."

Nodes

• From Our Network #8 (13-2-2020):

"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."

Oracle Method

• Has integrated (19-5-2020) Chainlink for streamlined pricing feeds.
• Has announced a partnership and integration with API3 (21-5-2021).

Their Other Projects

Kadenaswap

• From Decrypt (29-9-2020):

"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 Bitcoin, Polkadot, Cosmos and Ethereum."

Roadmap

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

Audits

• Bug bounty program can be found [insert here].

Usage 

• From Our Network #8 (13-2-2020):

"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."

Team, investors, Partnerships, etc. 

Team

• Helmed by former JPMorgan blockchain leads
• Stuart Popejoy; Co-founder

• Tony Pham; Head of Marketing at Kadena.

Investors

• 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)."

• Partnered with Terra and (10-11-2020).