both bitcoin as well as EthereumA little-known one that borrows the essential features of altcoin, having experienced a meteoric rise in the last seven days, entered the top 100 and even the top 70 crypto assets by market capitalization.
A hybrid blockchain platform Kadena (KDA), on Sunday, rose 175 percent to $25.34 and a market cap of $3 billion in just seven days. The 69th largest crypto asset by market cap, which has experienced a minor correction after this increase, is trading at $17.85 at the time of writing.
Kadena was created by former JPMorgan blockchain developers Stuart Popejoy and Will Martino.
The developers of the project say that they are building a secure and scalable way to implement smart contracts and compete with Ethereum, while also using the proof-of-work consensus model first introduced by Bitcoin.
The software of the protocol, Pact, is designed to allow anyone to create a smart contract:
“Pact is the first human-readable smart contract language. It allows anyone to write openly, directly and securely on a blockchain – an important step for the future of automated contracts.
Pact automatically detects bugs and keeps the purpose of the code clear… it saves you from the exploits you would encounter on Ethereum and other insecure platforms.”
The Kadena team also claims to have discovered a way to scale the proof-of-work consensus model first introduced by Bitcoin:
“Unlike other platforms, Kadena is designed to power global financial systems. As more chains are added to the network, our protocol continues to continuously scale to higher TPS (Transactions Per Second).
Kadena is on the NYSE every day thanks to its revolutionary multi-chain architecture [New York Menkul Kıymetler Borsası] It is the only scalable layer-1 Proof-of-Work (PoW) platform that can finalize more than 9 million transactions.”
Other features of the Kadena platform include free transactions, energy efficiency and industrial scalability.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.