Kadena isn’t a clone in the traditional sense. It’s a scalability-optimized public blockchain that contains Pact, a novel smart contract language. Kadena also employs Chainweb, a new Proof of Work (PoW) consensus process. This comprises of numerous independent chains that conduct network transactions in concurrently. This approach allows for high transaction throughput on the base tier without the need for scalability or functionality on the second tier.
Is Kadena the next big thing in the world of smart contract blockchains?
What is Kadena?
KDA is a cryptocurrency that may be used to pay for computation on the Kadena public blockchain. KDA on Kadena is the method by which miners are funded for mining blocks on the system and is the transaction fee that people pay to have their transactions included on the block, similar to ETH on Ethereum.
How does Kadena work?
Chainweb and Pact are Kadena’s ideas.
Chainweb merges parallel chains into one network. Each PoW chain mines the same currency and references its peer chain’s previous block. All peer chains in Kadena’s network can validate each other’s blocks and transfer liquidity. Chainweb may sound like sidechains, but there’s a big difference. Every chain in Kadena’s network is equally capable.C
Chainweb leverages Bitcoin’s SVP (SPV). Users can verify transactions without processing the complete blockchain. They request a Merkle proof from the chain. Merkle proofs verify Merkle tree components. Kadena is account-based, not UTXO-based, unlike Bitcoin.
Kadena’s smart contract automates token transfers between chains. Chainweb transfer deletes (or issues) KDA Coins on one chain and another. SPV evidence is needed before another chain can generate a new KDA Coin.
Kadena uses Pact. It’s computer- and human-readable. Pact improves Solidity’s vulnerabilities. This refers to endless loops and lack of formal verification. Pact smart contracts can be modified without a hard fork.
Kadena Kuro: a private blockchain
Kadena’s private blockchain predates the public smart contract platform. Kadena Kuro (previously ScalableBFT) is a private blockchain optimized for enterprise use cases.
A healthcare consortium has using Kadena Kuro since 2018 to collect and preserve insurance provider information. This private blockchain can be used as a sidechain with a public blockchain network (like Kadena’s) to speed up transactions and build new data marketplaces.
The goal of the Kadena project is to create a public blockchain that is both scalable and user-friendly for developers, and that offers a level of security comparable to that of Bitcoin. Based on the results of internal tests, the team also says that Kadena has no upper boundaries on the amount of transactions it is capable of processing in a single second.
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