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. 🤓
- 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.
But there’s more yet to come: To fuel its growth, Kadena has recently launched Kadena Eco, a new initiative to bring top crypto thinkers and devs together. Kadena Eco is going to launch a core ecosystem fund soon to support teams building on Kadena not just with capital but also with technological and strategic support. 🚀
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.