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Kadena: PoW public chain

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Written by   211
6 months ago
Topics: Cryptocurrency

Kadena, a star project that raised money on the CoinList platform, has received widespread attention from the market. It solves the scalability problem of the Bitcoin network and the security problem of the Ethereum network. Kadena uses the PoW consensus mechanism, but its TPS can reach more than 8000, which is one of the few PoW projects and solves the scalability problem. Moreover, Kadena has also participated in the system development of the JPMorgan Chase Blockchain and the US Securities and Exchange Commission, which shows its technical strength.

How sacred is Kadena? What are its unique advantages?

1. What is Kadena

Kadena is a smart contract solution provider that focuses on providing users with private blockchain technology solutions, allowing users to implement the ScalableBFT consensus protocol, and providing a programming language Pact that allows developers to implement transaction logic and perform business operations. In addition, Kadena is also a solution to the "impossible triangle" problem of the blockchain public chain using the PoW consensus mechanism combined with the chain network model in the current market.

2. Kadena consensus mechanism

Kadena uses ChainWeb, a parallel PoW architecture.

Advantages of the Kadena consensus mechanism

First of all, Kadena uses Proof of Work (PoW). Compared with other blockchains that use PoS, PoW is currently the only form of protocol that has been verified by the market. Kadena will ensure that each chain can be allocated the same amount of hash rate (computing power).

Kadena’s Chainweb protocol is an undifferentiated mesh protocol that focuses on the underlying hash rate. For developers, they don’t have to worry about which chain to deploy smart contracts on, because every chain in Kadena has the same Security.

In terms of liquidity, Kadena is also very different from other projects. The unique feature of Kadena's Chainweb protocol is that it provides multiple parallel ledgers in a unified network. Transactions also no longer require the participation of the main chain, because each chain in the network is a decentralized ledger, or part of a larger decentralized whole. You only need one transaction to transfer funds directly from one chain to another without worrying about asset liquidity issues.

Finally, all chains in Kadena are based on the Pact smart contract language, and everyone can use the inter-chain interaction tools without the authorization of the center (such as the Hub or the foundation).

Pact has more improvements on Tendermint. In order to improve TPS, many public chains have adopted PoS, and Kadena chose PoW, and Kadena took into account all parts of the impossible triangle (security, scalability, and decentralization) of the blockchain. The reason for this is that Mainly because of the unique proof-of-work consensus mechanism adopted by the Kadena public chain.

Three, Kadena composition

According to the white paper, the Kadena platform is mainly composed of three parts. Let's briefly introduce them below.

1. Chainweb, also known as chain network

Chainweb is also the core Layer-1 blockchain network that we know well. It was launched in November 2019. It adopts the PoW consensus mechanism and efficiently generates blocks in the mode of computing power mining. It was start from 10 chains in August 2020. The structure was expanded to 20 chains, which successfully proved the ability of "unlimited expansion".

2. Pact

Pact is similar to Ethereum. Kadena also provides smart contract support. Pact is an unparalleled blockchain programming language with outstanding advantages in terms of readability, security, and scalability. In addition, due to the existence of Pact, Kadena can achieve cross-chain interaction with various public chains, not only has its own super network, but also integrates other excellent project resources.

3 . Fuel

It is a Layer-2 privatized blockchain, mainly for enterprise-level services, adopted by many Fortune 500 companies, and can be purchased and used in the AWS and Microsoft markets. The hybrid chain formed by Kuro and Chainweb can currently reach up to 48,000 TPS (transactions per second).

Fourth, the advantages of Kadena public chain and private chain

Kadena is a rare project in the market that has both public and private chain solutions. What are the advantages of Kadena's public and private chains?

(1) Public chain advantages

1. Proof of workload

The Kadena public chain is a large-scale parallel protocol blockchain. The protocol makes proof of work more efficient. Unlike proof of equity, proof of work is currently the only protocol that has been verified by the market. Mining not only ensures the difficulty of network hashing, but also guarantees throughput and token supply.

2. The scalability of the blockchain has passed the security test

Kadena public chain has passed a separate test with the help of Gauntlet Network experts, proving that Kadena public chain can safely expand the network.

3. Higher throughput and lower latency

Kadena strong anti-attack ability means that it can provide faster mining speed, better decentralization, and less than 1 minute transaction confirmation time.

(2) Advantages of private chain

1. Scalability

Kadena unique BFT consensus protocol has been confirmed to reach 8000TPS in real tests with 256 nodes, and the network delay is much lower than 100ms.

2. Privacy

Using symmetric encryption technology and Fully Blinded Addressing technology, transactions can be safely hidden from non-transaction participants, which also means that Kadena can also achieve the confidentiality of multi-signatures without sacrificing the advantages of the blockchain.

Kadena public chain platform has an interwoven structure (Braided) and a parallel structure (Parallelized) workload proof consensus mechanism. In the blockchain, the consensus mechanism is the basic rule, which is mainly used for the network to reach agreement on information and verify effective transactions to prevent double-spending transactions and fraud.

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Written by   211
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