Kadena, yet another Ethereum Killer of the series, has been giving birth in recent days to a sensational growth, such as to have pushed it to 56th place in the CoinMarketCap ranking relating to market capitalization.
A growth which also promises to continue with great intensity over the next few days. The project, in fact, not only trusts in its characteristics, but also in the many positive opinions and in a reputation which continues to grow among professionals. So let's try to better understand what it is and, above all, where it could go in the near future.
What is Kadena and how it works
Kadena it is a platform blockchain hybrid, made such by the combination of a public blockchain, called chainweb, a private network, Fuel, and the language of the smart contract Pact. Among its main objectives is precisely that of being able to realize the potential of blockchain technology to the maximum. A goal that should be achieved to the benefit of companies that need speed and safety for their large-scale projects.
The project was brought to life by a team of engineers and cryptographic experts. Among which the figures of Stuart Popejoy e Will Martino, or those who launched the project during the 2016. The two were already known in the business for driving the JP Morgan's Blockchain Center for Excellence, the dedicated ledger technology team within the US investment bank. With Kadena, however, they could achieve an even wider notoriety.
What are its greatest strengths?
Of course, Kadena could hardly hold up in comparison with other projects if she didn't have some strengths capable of supporting her climb. In particular, among them the great speed with which it is able to liquidate transactions and their convenience should be included.
If we are talking about characteristics boasted by a large number of networks, in particular those that propose themselves as Ethereum Killer, in this case it seems not to be mere boasting. Suffice it to consider that Solana claims to be able to reach about 50 thousand transactions per second, a figure that pales in comparison to that of Kadena. Which in turn claims to be able to collect them 480 thousand in the same period of time. A result made possible by the use of 20 sub-chains, which dramatically increase the power of its hash rate.
Kadena's energy efficiency
Another feature which could make the project lucky is its own remarkable energy efficiency. Despite using Proof-of-Work (PoW), Kadena is in fact able to keep its energy consumption constant even in the event of an increase in grid demand. Indeed, its architecture, at least according to the development group, makes it into practice the only platform capable of increasing its energy efficiency with the growth of TPS (Transactions per Second).
It is indeed a noteworthy peculiarity. Especially at a time when the controversy over the energy consumption of cryptocurrency they are causing great concern in public opinion. So much so as to induce many businessmen to proclaim their total adversity towards those projects not able to give guarantees in this sense. As it did recently Tom Steyer, the founder of the hedge fund Farallon Capital and Onecalifornia Bank, now Beneficial State Bank. And how could others do, if renewable sources do not replace fossil sources in this sector.