You are currently viewing What is Kadena used for? [Updated 2022 Roadmap]
What is Kadena used for and what is its goal?

What is Kadena used for? [Updated 2022 Roadmap]

  • Post category:Tips
  • Reading time:8 mins read

If you’re reading this paper then I guess you have already heard about the Kadena project. Or maybe you have seen the big changes in its price and wonder why this project is a valuable one? If so, then read this short paper to get the answer to the question “what is Kadena used for?” and “What is the main goal of Kadena?”

What you read in this article is based on thorough research from the official website of Kadena and other reliable news resources such as THIS ONE.

What you’ll read in this post:

Suggested Article: Is it a good time to buy Solana?

What is Kadena and why you should know more about the Kadena Project

$KDA (i.e. Kadena) is a currency that is used for paying to compute on the Kadena public chain.

If you’re asking ‘what is Kadena used for?’ you should think of it as Ethereum,. Just like ETH, KDA on Kadena is how miners are compensated for mining blocks. It is also the fee that users pay to have their transactions included in a block.

Kadena has been successful to become one of the highest scaling layer one open-source repository public blockchain networks on the globe. According to the claims made by his network it can execute nearly five hundred thousand transactions each second.

With such a fast transaction speed, Kadena doesn’t require a layer 2 scaling like ETH. The Kadena Network makes blockchain accessible for everyone in the world. As an ecosystem, Kadena provides security to Bitcoin, virtually free gas, and smart contracts.

What is Kadena used for?
What is Kadena used for?

Overall review of the Kadena project

$KDA is the cryptocurrency used in the Kadena platform, and people can use it for paying for the Kadena services. In total, there is 1 billion KDA tokens that are to be mined over 120 years.

  • 70% of this 1 billion available tokens will be allocated to miners.
  • 20% of the available pool will be allocated to the providers,
  • 7% of them are for investors, and the rest is for the contributors.

Kadena is mainly produced and achieved by mining.

The total Kadena coin in the economy is 990M which means 1 billion launched coins minus 10 million burned at the launch.

Kadena token allocation
Kadena token allocation.

What is Kadena’s Vision

Kadena was established on the idea that blockchain could completely change the way the world transacts. However, in order to get to mass adoption, chain technology and the ecosystem connecting the tech to the business world should be reimagined from the scratch.

Kadena’s founders created the needed tools to make blockchain work for business – at a pace, magnitude, and energy efficiency previously thought unattainable.

Fee-free transaction!?

While Kadena Network offers very low transaction fees for consumers, they have gone a step further in introducing the first Crypto Gas Stations to allow businesses to eliminate all transaction fees for their customers, thus removing a key barrier to mass adoption of dApps (Decentralized Applications)

Price predictions for the Kadena Project

The Kadena price at the time of writing is $9.24 USD with a 24-hour trading volume of $162,541,218 USD.

The Kadena technical analysis for the current price levels indicates that the KDA is trading in the red. Therefore, the price of Kadena might drop for the next two to three days; immediate support levels are placed around $19.864. Any price drop below this is a sell indication for KDA.

In addition, the correction of the price may extend to the support zone of $7. The next resistance of Kadena’s price is $24.467.

Overall, the technical indicators are highly bullish.:

  • The MACD line crossed the signal line from November onwards;.
  • RSI is placed at 72, which is an over-brought zone.

As per the forecasts, we can expect the price pullback in Kadena value for the next two to three trading sessions. afterwards, the price can reflect long-term earning potential.

Kadena's live price at the time of writing.
The price of Kadena ($KDA) at the time of writing this post.

In the year 2030, based on the Kadena price forecast, this coin can register overall growth along with its market cap. The KDA price might reach the $100 mark. To some, Kadena is known as the second Solana, and therefore, reaching the price point of 100$ can be a believable future.

Does Kadena have any partners?

There are a handful of other projects that Kadena has partnered with. Partnerbase has identified 1 partner in the Kadena partner ecosystem. This partner, Amazon Web Services, is a Technology Partner and has 4,432 partnerships of its own.

This project also has recently partnered with Terra to expand DeFi ecosystem.

What is Kadena’s roadmap for 2022

The Kadena project has completed some of its milestones. However, there is a long way ahead!

Below you can see the full list of Kadena’s milestone. This information is based on the documents available on Kadena’s official website.

Kadena roadmap for 2022
Kadena’s up-to-date roadmap for 2022.

How many $KDA do you have or are you planning to buy?

let us know what you think about this project in the comments below. Do not forget to follow us on our social media to receive the latest news regarding trading and cryptocurrencies.