Is Kadena one of the world's most scalable layer 1 open-source repository public blockchain networks? Well, the Kadena network claims to be able to process approximately 500 000 transactions per second, which makes Solana appear like an old lady, like a blockchain constructed 30 years ago since Solana can only process 50 000 transactions per second, which is still the fastest blockchain in the world today.
So let's see whether Kadena can truly outperform Solana. Kadena no longer requires layer 2 scaling solutions like the ethereum network due to its high transaction speed. As well as Kadena aims to make blockchain available to everyone on the globe, and they want to create an environment that delivers bitcoin with unrivaled security, as well as smart contracts and gas, all for free.
The data optimizes the packed smart contract language's functionality and scalability. Pact can be read by non-developers and can also recognize boxes automatically. Now that I've discovered that Kadena gets a lot of attention, you might be wondering if it's worth including in your portfolio.
So, in this post, I'll look at the most recent Kadena updates that have piqued the interest of investors all around the world, and we'll see if Kadena is a good investment for you or not. Last but not least we also gonna look at some future price predictions ranging from 2022 to 2025.
Kadena Price Data
The Kadena coin, with the ticker kda, is one of the market's lesser-known treasures, having provided a stunning return to early investors. The kda token has now increased in value by almost 5,000 percent in the previous 365 trading days, resulting in huge returns for existing early-bird investors.
I suppose I shouldn't only say, investors but miners too. The Kadena miners, on the other hand, have reaped the benefits of the price hike. At the time of writing this article, the kda token is trading around $5, giving it a market size of 1.4 billion, making it the 80th biggest cryptocurrency according to the coin market cap. However, it is now trading 70 percent below its all-time high, which was set on November 11th, 2021.
Let's go through some of the highlights from 2021
Kadena has recently released wkda, a wrapped version of its token that runs on the Ethereum network and can communicate with all Defi protocols that are compatible with the Ethereum virtual engine.
This method was done in cooperation with the coin metro exchange and will aid in the creation of a new level of token use that has previously been unable to cross the bridge into the modern world of interoperability. Kadena has said that it intends to offer cross-chain functionality for other blockchain networks such as Terra, Polkadot, Cielo, and Cosmos.
The second piece of news or highlight is the opening of NFTprojects on Kadena. So another reason for the increased momentum scene in the kda token was the addition of nft capabilities to the network as a way to showcase the ability of smart contracts to transact high-demand items while keeping fees low.
Also, ufo gaming will be building its nft gaming platform on Kadena. A ufo will utilize Kadena's unique features from its scalable layer 1 proof of work blockchain and pact, which is the safest smart contract language. In order to create the next generation blockchain gaming experience. Furthermore, on Kadena, you can also mint a marketplace so nfts on Kadena marmalade.
Marmalade is the new Kadena standard for nfts. Now with the marmalade, Kadena is revolutionizing nfts by enabling creators, buyers, and communities to interact and participate in nft ownership and sales without limitation and securing the knowledge that their unique vision will be enforced forever.
Finally, new exchange listings and staking opportunities. So Kadena has also received support from cryptocurrency exchanges, including a new listing on crypto.com, and coin metro is now offering Kardinal staking.
After officially reopening the kda staking capabilities on November 3rd, coin metro saw 730 000 kda tokens deposited within 20 minutes to fully tap out the staking pool's capacity. And, just in case you're wondering where you can buy the Kadena token, you can buy it on kucoin, gate.io, Beatrix, Coinx, Coinmetro trade org, BCX, and hotbit.
Future Price Prediction
The first future price forecast comes from digitalcoin.com, which predicts a high of $11.49 in 2022 and a low of $17.59 in 2025. The second forecast comes from wallet investor.com, which predicts a price of $29.40 in 2022 and $91 in 2025.
Now, the final price forecast comes from Gov capital, who, unlike the others, is basing its future price prediction on a fundamental approach, predicting a high of $33.34 in 2022 and a low of $166 in 2025.
Final Thoughts
Now, before we conclude, allow me to add my two cents on the dollar. To be honest, I don't know nearly enough about Kadena. It now appears to me that it was designed by a group of intelligent people.
For example, if you go to coin market cap, you can see that it was formed by @SirLensALot and @wjmartino, who built jp morgan's first blockchain and was the tech lead for the SEC's first crypto committee.
Now, if you go to their website, you'll see that their names aren't precisely spoken or spelled this way, so what do I know? I suppose you should pay attention there, but I don't think that's a very reassuring truth.
Nonetheless, there's a second point about which I'm not so optimistic, and that is their tokenomics, which appears to prioritize the miners. We all know how vital miners are. Nonetheless, it appears to me that we should be looking at tokenomics that are more deflationary than inflationary; given the volume of tokens that will be distributed, it appears that the next few years will be more of a dump than a pump.
Now, that's just my opinion, and I may be completely wrong, but I'm looking forward to hearing about all the advances that Kadena will reveal, but I don't think I'd suggest Kitty buy the kda coin.
