New Ethereum Competitor Surges After Surprise Listing on Leading Crypto Exchange Binance

A new top-100 Ethereum-competing blockchain is surging after a sudden listing from the world’s largest cryptocurrency exchange.

Yesterday, Binance announced support for Kadena (KDA), a hybrid blockchain platform utilizing both a private and a public chain protocol.

Kadena is a hybrid blockchain platform that has a private chain protocol called Kuro and a public chain protocol called Chainweb. Users can enjoy the security controls of a private blockchain and the decentralization benefits of a public blockchain. The KDA token fuels transactions on and secures the network.

According to the Binance announcement,

“Binance will list Kadena (KDA) and will open trading for KDA/BTC, KDA/BUSD and KDA/USDT trading pairs at 2022-03-11 11:30 (UTC).

Users can now start depositing KDA in preparation for trading.

Withdrawals for KDA will open at 2022-03-12 11:30 (UTC).”

According to Kadena’s website, the project consists of three arms – Kadena’s layer-1 public blockchain Chainweb, Kadena’s smart contract language Pact, and Kadena’s private layer-2 blockchain Kuro. When Chainweb, Pact and Kuro combine, the Kadena blockchain claims to support industry-leading transactions per second.

“Chainweb is a braided, parallelized proof-of-work consensus mechanism that improves throughput and scalability while maintaining the security and integrity found in Bitcoin…

Pact is a human-readable and Turing Incomplete smart contract language purpose-built for blockchains with powerful security features including full Formal Verification of user code, error messages, contract upgradability, support for interoperability, and strong permission and access control…

Kuro has been proven to support up to 8,000 transactions per second across 500 nodes…

With 20 chains, the Kadena blockchain platform achieves an industry-leading 480,000 transactions per second.”

Kadena’s native token, KDA, has responded positively to the Binance listing, jumping nearly 11% over the last 24 hours and currently trading for $6.96.

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Featured Image: Shutterstock/Dan Collier/Nikelser Kate

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