Kadena Coin: A Smart Investment Decision?

Kadena (KDA) is a smart contract platform that enables developers to build quality decentralised applications. It has been labelled an 'Ethereum-killer' due to its faster speeds and lower costs. However, as a relatively new blockchain project, Kadena faces strong competition from more established cryptocurrencies. So, is Kadena coin a good investment? Well, that's a difficult question to answer. On the one hand, Kadena has been predicted by several platforms to rise to a record price in the long term. On the other hand, some sources claim that Kadena is not a good investment for those seeking short-term profits, as its value is predicted to fall.

Kadena's price history and predictions

Kadena (KDA) is a relatively new blockchain project that enables developers to build quality decentralised applications. It has smart contract features whose language is known as Pact. Kadena is an Ethereum-killer, with faster transaction speeds and no additional costs.

Kadena's price has been on a bullish trend in the past few months. In November 2021, the KDA price was trading at $8.54, just below its all-time high of $8.78. This was a spectacular rally, with the price rising 3,870% above its lowest level in June 2021. Its market capitalization also jumped to more than $1.9 billion, making it the 91st biggest cryptocurrency in the world.

In October 2021, the Kadena coin was floating above the $6 mark, surging by over 50% in less than 24 hours. Its current market cap was above $930 million, and its fully diluted market cap was above $6 billion. The two-month track record of the Kadena coin was impressive for investors, with the cryptocurrency valued at $2.26 on 20 September 2021 and opening at $2.76 on 21 October 2021.

Kadena's price has continued to fluctuate. In November 2021, it jumped 25% in 24 hours, and in July 2024, it rebounded to $20, 28% above the week's lowest level. It formed a bullish flag pattern, a bullish sign in price action, indicating a continued rise in the near term.

As of July 2024, Kadena's price is $0.546 USD, and predictions suggest it may drop to $0.0461 USD. WalletInvestor.com and Coinarbitragebot.com also predict a price drop in the future. However, other sources indicate the price will rise in the long term, with PricePrediction.net predicting a minimum price of $10.68 in 2026, and DigitalCoinPrice.com forecasting a price of $18.63 in five years. With these mixed predictions, investors should carefully analyse the market before making any decisions.

How does Kadena compare to Ethereum?

Kadena is a smart contract platform that enables developers to build quality projects. Ethereum is a good smart contract platform, but it has its limitations. For example, it is one of the slowest smart contracts in the market today, processing less than 20 transactions per second, and its transactions are also relatively expensive.

Kadena, on the other hand, is much faster and cheaper. While Solana can handle about 2,000 transactions per second, Kadena can process about 480,000. This is due to its use of "braided chains". Kadena uses a smart contract known as a pact, which it describes as a “human-readable Turing-incomplete smart contract language purpose-built for blockchains with powerful security features”.

Kadena has also introduced a “crypto gas station” feature that allows businesses to eliminate all transaction fees for their customers by creating accounts that exist to fund gas payments on behalf of their users under certain conditions. This is an advantage for Kadena over Ethereum, as Ethereum's high gas fees have been a common criticism.

Kadena has also recently launched a wrapped version of its token called wKDA, which operates on the Ethereum network and allows it to interact with all Ethereum Virtual Machine-compatible decentralized finance (DeFi) protocols. This integration with Ethereum could be seen as a positive step towards interoperability between the two blockchains.

However, it is worth noting that Kadena is still relatively new and faces strong competition from Ethereum, which has a much more established platform and a larger community of users and developers. As a result, there are currently no major blockchain projects built on Kadena.

Kadena's advantages and disadvantages

Kadena's Advantages

Kadena is a smart contract platform that enables developers to build quality decentralised applications at a relatively lower cost and with faster speeds than its competitors. Its smart contract, known as Pact, is described as a "human-readable Turing-incomplete smart contract language purpose-built for blockchains with powerful security features".

Kadena's blockchain has a Layer 1 and Layer 2 that can handle about 480,000 transactions per second, which is significantly faster than Ethereum and Solana, its competitors. Additionally, Kadena transactions have no additional costs, and the platform has partnered with other leading blockchain projects like Terra, Polkadot, and Cosmos.

Kadena has been predicted by several platforms to rise to a record price in the long term. Its two-month track record as of October 2021 is impressive for investors. For example, on September 1, 2021, the cryptocurrency was valued at $0.8155. By October 21, the cryptocurrency opened at $2.76 and touched the $4 mark.

Kadena's Disadvantages

Kadena is a relatively new blockchain project and faces strong competition from Ethereum, Solana, Binance Smart Chain, Avalanche, and Algorand. As a result, there are no major blockchain projects built on Kadena yet.

While Kadena has been predicted to rise in the long term, its value is predicted to fall in the short term. According to WalletInvestor.com, the price of Kadena is going to drop to as low as $3.103 in one year, making it a bad investment option for those looking to book profits quickly. Coinarbitragebot.com also predicts that the average price of Kadena will fall in 2022 to $3.92966.

Kadena's market cap and trading volume

Kadena (KDA) is a relatively new blockchain project that enables developers to build quality decentralised applications. It has smart contract features whose language is known as Pact. Kadena's price has been on a bullish trend, and it has been predicted by several platforms that its price will rise to a record level in the long term.

Kadena's price has seen a spectacular rally in the past few months. In November 2021, the KDA price was trading at $8.54, which was just below its all-time high of $8.78. Its total market capitalisation had jumped to more than $1.9 billion, and it was the 91st biggest cryptocurrency in the world.

In October 2021, Kadena's market cap was above $930 million, and its fully diluted market cap was above $6 billion. Its trading volume had also risen over 400% in less than 24 hours to more than $55 million. The number of Kadena coins in circulation at the time was over 153 million.

In July 2024, Kadena's price was $0.546 USD, and its market cap was over $3 billion. The KDA token had jumped to $20, which was about 28% above the lowest level of the week.

Kadena's smart contract and blockchain features

Kadena is a proof-of-work blockchain that combines the PoW consensus mechanism from Bitcoin with directed acyclic graph (DAG) principles to offer a scalable version of Bitcoin. Kadena's blockchain and smart contract features are designed to support global financial systems and enable businesses and entrepreneurs to leverage blockchain technology.

Kadena's blockchain is decentralized and built for mass adoption due to its multi-chain approach. It currently operates 20 separate blockchains that work simultaneously and asynchronously to validate transactions, increasing security and throughput. This multi-chain approach, or "braiding of chains", allows Kadena to mint multiple blocks simultaneously, improving its transaction processing speed.

Kadena's unique infrastructure enables it to provide unparalleled throughput while maintaining security. By combining two consensus mechanisms, DAG and proof-of-work, Kadena can scale from one proof-of-work blockchain to potentially unlimited blockchains. Its directed acyclic graph structure is fixed and multi-channel, allowing communication with three peer chains instead of random transaction confirmations, resulting in improved performance and scalability.

Kadena's smart contract language, Pact, is a key feature. Pact is a human-readable and Turing-incomplete language designed specifically for blockchains, with powerful security features. It is easy for developers to read and write, and it includes formal verification, a system used to protect critical infrastructure like nuclear power plants. Pact enables developers to build quality projects on Kadena's platform, facilitating the creation of decentralized applications and smart contracts that authorize payments and user authentication.

Kadena's blockchain and smart contract features offer a scalable, secure, and user-friendly platform for businesses and developers. With its multi-chain approach, improved transaction speed, and Pact smart contract language, Kadena aims to address the limitations of other blockchain platforms and provide a robust foundation for global finance and decentralized applications.

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