Kadena has surged more than 1,900% in value over the past year
Contents
- What is Kadena (KDA)?
- Smart-contract system
- Founders of Kadena
- Coin performance of kadena
- KDA price performance – Expert opinion
Kadena was founded by Stuart Popejob and Will Martino in 2016 In New York on the conviction, according to the crypto’s website, “that blockchain could revolutionise how the world interacts and transacts”.
The project, like others, claims to have preserved the security of blockchains such as Bitcoin while also being faster, more efficient and flexible.
Its KDR coin has spiked recently, in part as a result of a recent announcement that the Backalley token sale will be powered by the Kadena blockchain.
While the crypto has performed well over the past year, the crypto market has become increasingly saturated with start-ups looking to accelerate the mainstream uptake of blockchain by developing technology to make it more scalable.
Can Kadena overcome rivals and deliver the golden chalice? Does the future of the KDR coin look bright? What is the Kadena price prediction? Before we look at forecasts, let’s do a quick overview of the coin.
What is Kadena (KDA)?
According to its website, Kadena’s public blockchain, Chainweb, is the only layer 1 proof-of-work network that can deliver on scalability, thanks to its supposedly unique sharding system.
The company claims that proof of work, the model employed to verify bitcoin, remains the most secure. Unfortunately, as cited in the scalability trilemma, this high security historically comes at a cost of scalability, and vice versa.
Through using what it says is a “revolutionary braided multi-chain architecture”, Kadena claims to fix these issues, rendering the blockchain capable of meeting the demands required for it to become effective in processing mainstream transactions.
In fact, the website claims its platform possesses adequate capabilities to settle the more than nine million trades executed on the New York Stock Exchange daily.
By keeping the blockchain on a single platform, the project claims to be more developer-friendly, as second-layer solutions can hinder the development of applications.
Smart-contract system
Pact, the smart-contract system employed by the project, is, according to Kadena's literature, readable by non-developers. The language contains a variety of features, including error-messaging, contract upgradability and support for interoperability.
The project claims the Pact language “facilitates transactional logic with an ideal combination of functionality in authorisation, data management and workflow”.
The ecosystem also features a private blockchain called Kadena Kuro, which uses Byzantine Fault Tolerance, a design which, supposedly, works best for business uses. A healthcare consortium has used this private blockchain since 2018 to streamline the process of collecting and maintaining insurance provider information.
According to its website, Kadena has developed partnerships with other major crypto platforms including cosmos, coinmetro and polkadot, to expand its offering.
While the ecosystem charges consumers marginal transaction fees, businesses, if adopting the crypto’s technology, can get rid of any fees on behalf of their customers.
KDA Is the native currency used to pay to compute on the blockchain and miners are rewarded for mining blocks with KDA.
Founders of Kadena
Stuart Popejoy completed a BA in comparative literature from the University of California. Afterwards, based in New York, he worked as a programmer at a range of companies. After working as a head of trading systems at Pink Sheets, he was hired by Pragma Securities as head of algorithmic trading. In 2011, Popejob became executive director of the new products division at JP Morgan, where he worked on blockchain and smart contracts.
Will Martino completed a BA in economics and mathematics from Yale University. He subsequently worked in client services at ION Trading, before being hired by Barca Capital as a quantitative researcher.
After taking up a research post for six years at Yale, Martino became a senior science advisor at the US Securities and Exchange Commission. Before founding Kadena, Martino worked as a financial technology manager at JP Morgan, where he was the lead engineer for the open-source Juno project – a Byzantine Fault Tolerant consensus protocol designed for blockchain and smart-contract applications.
Before looking at forecasts for a kadena price prediction for 2022, or even a kadena price prediction for 2030, let’s look at the recent performance of the coin.
Coin performance of kadena
The coin rose slightly after its launch, from $0.3933 on 4 June 2020 to $0.6925 on 12 August 2020. The coin subsequently dropped to $0.1423 on 23 of January 2021, before surging to $1.7631 on 9 April 2021. The coin soon after dropped to $0.3442 on 24 July 2021 before rising to $2.1707 on 19 September 2021. The coin subsequently dropped to $1.4568 on 28 September 2021, before spiking to record high of $24.16 on 11 November 2021.
Soon after the KDA price corrected to $9.6413 on 13 December 2021 before rising to $15.36 on 26 December 2021. The KDA price dropped to $5.0222 on 22 January 2022. Despite rising to $9.853 on 9 February 2022, the price has since slid to $8.27 as of 15 February 2022.
Over the past year, kadena has gained more than 1,900% in value. However, it lost more than 12% of its value in the past 30 days.
There is a maximum supply of 1 billion kadena coins and a circulating supply of 167.82 million coins, while kadena has a market cap of $1.39bn.
How does this information impact a kadena price prediction?
KDA price performance – Expert opinion
It’s important when looking at predictions to remember that while they can be helpful as an indicator of which direction the price may move, they should be viewed as possibilities rather than absolutes. This is especially the case when looking at long-term forecasts, as these can sometimes be completely off the mark. This is because of the inherent volatility of the crypto market but also the many unknowns which could impact future prices.
With this in mind, let’s look at some kadena price predictions.
WalletInvestor, in an optimistic coin price prediction, thinks KDA could go to $20.105 in a year’s time and $72.84 in five years.
Gov.capital estimates the KDA price prediction for 2023 to be around $26.53 while its forecast for 2027 stands at $229.93.
DigitalCoinPrice thinks that KDA could be worth $11.33 in 2022 before increasing to $13.29 in 2023. The website’s kadena price prediction for 2025 stands at $18.57.
There is a maximum supply of 1 billion kadena coins and a circulating supply of 167.82 million coins.
Potentially. The coin has performed very well over the past year. The project has a solid team behind it and has developed an array of impressive partnerships.
However, always remember that the crypto market is highly volatile and the price of all tokens and coins can go down as well as up. Never invest more than you can afford to lose and bear in mind that past performance is no guarantee of future returns.
Lots of analysts forecast the coin will go up in the future, with some forecasts predicting the coin could go up quite significantly.
It is worth remembering that forecasts, especially long-term ones, are better viewed as indicators rather than absolutes.
Investing is a highly personal endeavour. Do your own research and try to keep up to date with any developments within the kadena ecosystem that could boost its prospects.
Remember, investing can be risky, and it is important never to invest more money than you can afford to lose.
