What currency is KDA?

Kadena's native digital currency, KDA, powers transactions, secures the network, and enables governance participation on the scalable, energy-efficient Kadena blockchain.

Nov 23, 2024 at 10:38 am

What is KDA?

Introduction:

Kadena token (KDA) is the native digital currency of the Kadena blockchain network.
KDA serves various purposes, such as powering transactions, securing the network, and enabling participation in platform governance.
Kadena is a scalable layer-1 blockchain that leverages a unique braided blockchain architecture for high throughput and energy efficiency.

Technical Details:

Proof-of-Work (PoW) Consensus: KDA is mined through a PoW consensus mechanism, which requires miners to solve complex computational puzzles to add new blocks to the blockchain.
Braided Architecture: Kadena's braided architecture comprises multiple parallel chains that process transactions simultaneously, significantly increasing scalability.
Pact Smart Contract Language: Kadena features a proprietary smart contract language called Pact, which emphasizes security and auditability.

Functions and Applications:

Transaction Fees: KDA is used as a transaction fee to facilitate transfers and other operations on the Kadena network.
Network Security: Miners who stake KDA contribute to the network's security by validating and verifying transactions.
Governance Participation: KDA holders can participate in platform governance by voting on protocol upgrades and other proposals.
Mining Rewards: Miners who successfully solve PoW puzzles are rewarded with KDA for their contributions.
Staking Rewards: KDA holders can stake their tokens to earn passive income in the form of additional KDA.

Acquisition and Storage:

Exchanges: KDA can be purchased and traded on various cryptocurrency exchanges, such as Gate.io and Uniswap.
Wallets: KDA can be stored in hardware wallets, software wallets, and exchange-hosted wallets that support the Kadena network.

Additional Features:

Energy Efficiency: Kadena's braided architecture optimizes energy consumption during mining, making it a more environmentally sustainable blockchain.
Scalability: Kadena's architecture allows for high transaction throughput, handling up to 10,000 transactions per second.
Security: Kadena emphasizes network security through PoW consensus, multi-chain architecture, and formal verification of smart contracts.

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