Kadena recently announced a partnership with Coinmetro to enter the Ethereum network. The venture will officially support wKDA (Wrapped Kadena), backed 1:1 with Kadena.
Besides joining hands with Coinmtero, Kadena is entering the Ethereum blockchain to connect multiple assets to the network. Kadena previously announced that Wrapped BTC on Kadena will soon be available on the network. It will act as a precursor of network connection to multiple chains.
Kadena is one of the best blockchain networks with a Layer 1 scalable proof of work mechanism. The network also boasts of Pact, a user-friendly and secure smart contract technology. It aims to resolve the security and scalability issues faced throughout the blockchain industry.
That is why Kadena provides an ecosystem and tools to produce DeFi-based applications to NFT marketplaces. Its PoW mechanism gels well with the goal of solving Layer 1 scalability issues. The network braids multiple chains together, connecting 10 new chains in 2020 alone.
Kadena’s efforts to showcase its production scalability helped the network gain 10 chains amid a dire market setting. It is actively working to become the ideal proof of work settlement layer required for mass blockchain adoption.
The network uses Pact for its Turing Incomplete and Formal Verification functionalities. The former decreases the language’s vulnerable surface without hindering its operability. The latter assists smart contract developers in mathematically verifying their code’s functionality. In addition, the features allow users to undertake new projects on the Kadena network easily.
Even with such features on offer, Kadena is joining hands with Coinmetro to promote Wrapped. It allows investors to trade, lend, and borrow their digital assets on every major DeFi platform. In addition, every wrapped asset is collateralized and is stored with a verified custodian.
Wrapped possesses the qualities of revolutionizing the DeFi and crypto sector. Thus, Kadena’s intent to garner a vast user base seems natural. As a globally renowned and trusted network, Ethereum can easily facilitate the purpose. Given the capabilities of the involved parties, the upcoming integration will benefit everyone.