JPMorgan’s startup Kadena is ready to get its first-ever listing on Bittrex. Kadena is the only company that has a hybrid blockchain. It works on both, the public blockchain as well as the private chain. This blockchain will cut off the limitations that come with both the blockchain models.
It provides the accessibility of public blockchain and at the same time maintains the privacy of a private chain. Kadena is found by ex-JPMorgan blockchain professionals Stuart Popejoy and Will Martino.
How Kadena Is Different?
The blockchain found by Kadena solves the much-hyped scalability issue of Proof of Work (PoW) networks present in the blockchain. The company did a fantastic job to shard the Proof of Work consensus of blockchain.
The main constituents of Kadena blockchain are a public chain, private chain of the company called “Kuro”, and Pact which is an open-source smart contract language. The Pact is human-readable and it can be used with Microsoft Excel programming level knowledge to create contract and publish them using the blockchain.
Bittrex is one of the popular cryptocurrency platforms around the world. Kadena token will be only available to trade on Bittrex as of now. This is the first-ever listing of JPMorgan’s subsidiaries Kadena on a crypto exchange platform.
The listing went live on June 25. The token name of Kadena is KDA on the crypto exchange. It was immediately made available to deposit in the wallet. The trading was made available on June 26 10:00 am EST.
Immediately after the launch, Kadena raised $15 million in sales through 3 tokens. In addition to it, Kadena is planning to scale its PoW blockchain network from 10 chains to 20 chains. The scaling is planned to go live on July 31.
KDA Trading Is Not Possible For People Living In The U.S. And Other Sanctioned Countries
KDA token is trading against two major digital coins, Bitcoin and Tether on Bittrex. However, there is a twist to the Kadena tokens. Bittrex Global is not available in the U.S. and other sanctioned countries.
It means KDA tokens are not being traded in the States. Bittrex is the largest crypto exchange in the world but due to limited accessibility, KDA trades is not open to the U.S., Cambodia, and Egypt.
Kadena Stepped Into Trading With A Market Value Of $13 Million
After setting a stepping stone of integrating public chain along with the private blockchain, Kadena has now its token. Kadena blockchain is one of its kind in the crypto world. It can create smart contracts and provides full transactions.
Kadena works on Proof of Work (PoW) consensus. Since its launch from November 2019, 35 million KDA tokens have made it to the circulation. The company CEO, Will Martino is expecting a total of 100 million tokens to be mined till next year. The price of one Kadena token is not decided till now.
Its price will be based on the demand and supply, said the CEO. The exact pricing details of KDA can be seen on crypto tracking websites like CoinGecko and CoinMarketCap.
There was an error in the details when the token first launched but coin history can still be seen on such tracking websites. According to the co-founder and CEO, the market cap of Kadena token is $13 million.
Kadena’s HIPPA-Compliant App Can Track COVID-19 Tests
Apart from the astounding blockchain innovation, Kadena has also introduced an app that can track virus test results. This testing application is an open-source project by the company. The decentralized COVID-19 testing application is known as dApp.
dApp is being used by medical professionals and patients to validate the testing results. It is a safe app since it is designed using decentralized technology. The results can be safely shared among doctors and patients.
The dApp is immediately available without KDA tokens on testnet. There is no need to acquire a crypto wallet to be able to use the app. By introducing new technologies Kadena is doing a lot in the blockchain field already.