Kadena, a Proof of Work (PoW) public blockchain for smart contracts, has begun its token sale on CoinList. It began on Monday, Nov. 4, and will run until Friday, Nov. 22, 2019. The Kadena network boasts of highly scalable blockchain which runs the Chainweb protocol to ensure unmatched security and high throughput, promising to be a driving factor with the potential to serve as a convergence point for all interoperable chains including private and public blockchains and applications.
The Kadena token (KDA) is basically a digital asset used on the Kadena public chain for computation payment. Since the network also executes smart contract codes using the KDA, adoption is certain as the network slowly expands on the volume of smart contracts and more applications join and us the network.
The Kadena token sale is divided into two options for interested investors, which will run simultaneously.
Strategic Allocations include all other allocations for recipients of the KDA token, that do not fall under the two mentioned above. The coins here will be distributed to several people in the Kadena community including advisors, business partners, consultants and employees as well. KDA will also be locked up here and will be released periodically as well, over the next three years.
Kadena has so far already successfully raised $15 million from investors including SVAngel, CoinFund, Primitive and Multicoin Capital. The platform also boasts a team that includes alumni of some of the biggest companies in the world, including Microsoft, Google, J.P.Morgan and Accenture. Kadena was founded by two ex-JP Morgan execs including former blockchain lead Stuart Popejoy, as well as blockchain prototype lead engineer, Will Martino.
Kadena also plans to enable mining very soon. Mining activity will begin shortly before the public launch which will include support for transfers, executing smart contracts, as well as the creation of decentralized applications (DApps). Already, Kadena has completed two SAFT rounds with the first one selling 4.5 million coins at $0.50 back in 2017, and the second selling 17.2 million coins in the first two quarters of last year, at $0.75 each.