Kadena Blockchain Opens
It’s been anticipated for more than 36 months, but the Kadena Blockchain Exchange has become live through MainNet as of November 4th, 2019. This Proof-of-Work formally was known as ChainWeb and became a viral sensation rapidly. After proving their concept, the parent company began developing the official version. Today, Traders and Brokers can anticipate a new network that solves the issue of select scalability.
Kadena implements a technology that enables them to process incredible loads of data while connecting with multiple exchanges. Subsequently, this increases transaction volumes and possible scalability. This operation is being operated by Stuart Popejoy, the former Lead of Blockchain Investment for JPMorgan. Stuart also brought over Will Martino from the same team, where they both revealed the project in 2016. After three years of waiting, this exchange network is open for business.
The Kadena Network currently operates ten network exchanges. It’s estimated that this number will increase tenfold when the founders release system-wide updates. The cost to get this digital product running was $15 Million, with investors like Fidelity and MultiCoin Capital. Their investors extend to Devonshire and CoinFund. MultiCoin Capital and CoinFund have assisted the Kadena Network with the development of smart-contracts.
They also helped design the Token Transfer System, Transaction Support Features and Decentralized Applications. The KadenaDApps will be released on December 5th, 2019. Their third official token sale begins on November 5th and ends on November 22nd for any potential traders or brokers. The goal with this third sale is to raise $20 million in additional funds, regardless of the investor is legally accredited. This token sale is being managed from the CoinList Exchange.
Will Martino spoke in an interview recently regarding the Kadena Blockchain. He said: “This is the first time anyone has ever scaled proof-of-work. We are believers in proof-of-work. We believe it is a proven protocol and the key feature we needed to fix was transaction throughput.”
The MultiCoin Capital Manager, Kyle Sarani, spoke on the Kadena Exchange. He stated: “Kadena is the only team in the world that presents a credible solution for scaling proof-of-work systems. That’s the exciting thing about it. The only thing you can do with MainNet release for the first month is mine.”
Two Structured Sales
The Kadena Exchange is selling their tokens through two sales on the CoinList Platform. There is one sale available for investors who aren’t accredited, which is designated for individuals living outside of the United States. These non-accredited investors will be given the right to mine their coins after they’ve been purchased, with each token costing $1.00. However, potential investors will be limited to trading and mining these coins through the Kadena Exchange for the first forty days after purchase. Afterwards, these tokens will be enabled for the open market for free trade.
The second token sale being implemented by the Kadena Blockchain Exchange is called “The Simple Agreement of Future Tokens”. This is for accredited investors in the United States, which will require the investors to follow the guidelines and regulations implemented by US Regulators. Subsequently, this means the sale of tokens will be banned for twelve months. However, this comes with its benefits. All accredited investors receive 50% off these tokens, meaning each one costs $0.50.
The Dual Structure for the Kadena Token Sales is being implemented to guarantee they follow the standard compliance acts implemented by the United States Securities and Exchange Commission. Investors should be aware that SEC has begun emergency action against largescale tokens like Kadena. The most recent level of emergency action is when Telegram started selling the Gram Token on October 11th. SEC immediately terminated their sale with the emergency action clause.
Will Martina spoke on the regulatory aspects for their exchange. He said: “It’s going to serve Kadena and the community long-term because we’re going to have made this sale within the bounds of existing regulations, case law and securities law.”
The ChainWeaver Wallet
This network exchange isn’t the only product that Kadena released through MainNet. Their Monday announcement also revealed the token wallet for the Kadena Coin, which will be called ChainWeaver. This wallet platform won’t just sign-off on transactions, but it will also maintain a mini-server that works in correlations with DApps. This will assist traders by enabling them to run DApps directly through desktops or laptops. Additionally, there won’t be any fees with the ChainWeaver Wallet. This is because all DApp Corporations wanting to operate under this wallet platform will have to pay small monthly payments. This is the first implementation of this methodology.
The ChainWeaver Wallet Platform won’t require that traders register with the service to invest with the Kadena Platform. Instead, it’s a recommendation that will assist players in generating new volumes of wealth through digital currencies. However, those wanting to fund their profits to another wallet or exchange will have this capability as well. It’s anticipated that most traders will maintain a ChainWeaver Wallet Account, as it will provide decentralized finance through the USCF Investments Agency.
The MultiCoin Capital Manager, Kyle Sarani, spoke on the usability of DApp Platforms. He stated: “It’s so much easier for application developers to build on top of this thing. Kadena is designed to be developer-centric. This means that developers can build much higher quality, more practical applications.”