Based in New York, Kadena is a blockchain technology company that has claimed to solve the scaling challenges faced by Bitcoin and the various security issues plaguing Ethereum. For records, it has completed blockchain scaling to 480,000 transactions/second on 20 chains. Kadena is the 1st blockchain tech company that has emerged out of Blockchain Center for Excellence by J.P.Morgan. It has revealed that its scalable public blockchain has jumped from 10 to 20 chains, and earned the tag of the fastest blockchain platform in the world. Kadena has preserved the Proof of Work Consensus of Bitcoin by functioning through a unique architecture that helps to boost speeds.
The company has announced that Kadena Kuro, the next-generation private blockchain of the platform, is now available entirely free of charge. It has been developed as a fully open source project and has been made accessible to as many organizations as possible. In the 2nd half of 2019, Kadena had to undergo strict pro-level Wall Street analysis to prove its security and scalability. Gauntlet Networks conducted the 3rd party research and confirmed that Kadena is the first project to scale Proof of Work securely. No other project, to date, has achieved this feat.
In early 2020 Kadena launched the sharded Proof of Work – 1 network and completed the most critical update in its history – a jump to 20 braided chains. The platform can now achieve 480,000 transactions per second, which, at present, is unbeatable in the industry. Despite this massive increase in speed, there is no increase in energy consumption, thereby pushing aside all the negative talk about the Proof of Work consensus mechanism. By increasing the shard count from 10 to 20 chains, Kadena has proved beyond doubt the feasibility of 100,1,000, and an increasing number of chains on the public network. No wonder, Kadena has successfully solved the eternal problem of securely scaling a public blockchain.
The company has said that it has already started looking for the next upgrade of 50 braided chains and working in parallel! It will upgrade the transactions to 1 million per second. It has plans to trade the KDA coin officially in the US before 2020 ends on a licensed cryptocurrency exchange. In the early part of this year, KDA was identified as one of the cryptocurrencies under serious consideration by Coinbase and other similar crypto exchanges.