Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Okcoin is the first U.S. licensed exchange to offer Kadena’s token, KDA, against USD. Here’s what you need to know, in simple terms.
TL;DR
- What? You can now deposit, withdraw, and trade KDA on Okcoin.
- Who? All Okcoin customers including those in the United States, except for residents of the EU, the UK, Singapore, and Brunei.
- When? Deposits are live as of March 17. Withdrawals and trading are live as of March 22.
What’s the Kadena (KDA) token?
Most blockchains face the same challenge: It’s very difficult to optimize at the same time for security, decentralization, and scalability. The solution is usually to focus on two of these features, at the expense of the remaining one. This problem is called the “blockchain trilemma”.
Kadena is a decentralized ecosystem aiming to solve this problem with a combination of technological features:
- Decentralization. Kadena’s public blockchain, Chainweb, runs on a proof-of-work consensus mechanism, like Bitcoin does.
- Scalability. Chainweb’s architecture allows Kadena to add additional blockchains as it scales. This allows for both high throughput and low transaction fees.
- Security. Kadena’s Pact smart contract language offers upgradable decentralized applications (dApps) while automatically detecting bugs and vulnerabilities.
This structure already allows Kadena to offer a wide range of use cases, from payments to decentralized finance (DeFi) and NFTs. There are still some key developments in the ecosystem’s pipeline however, with three specific focuses:
- Governance. Kadena is going to organize itself in a DAO in order to manage the development of the network in a decentralized manner.
- Interoperability. Bridges for cross-chain transfers are being built between Kadena and Ethereum, Terra, and Celo.
- Enterprise integration. Kadena aims to power enterprise grade financial services and will develop partnerships with industry leading platforms through an ecosystem fund.
KDA is Kadena’s native token. Similar to Bitcoin, KDA is distributed as a reward for mining blocks and can be used to pay for transaction fees on the network.
The post Kadena (KDA) is now on Okcoin appeared first on Okcoin cryptocurrency and bitcoin blog.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.