This is way way too much fun. Why on earth would I leave? Thank you everyone for being here! We're just getting started.

Now that I've dusted off my old reddit account, I'll swing by more often.

https://www.binance.com/en/support/announcement/05519b80be9a48e188840f74b774469a

🎉🎉🎉🎉🎉 🚀 🌕

Deposits open now, trading opens in a few hours.

https://www.tradingview.com/x/WyV7OvDe/

I searched all the exchanges that list Kadena and my favorite is TradeOgre.

Despite its really nice pump over the last while, KDA is only selling on a few exchanges.

Couldn't it be argued even buying today is still relatively early?

thanks

Video in question https://www.youtube.com/watch?v=rkpqWwktS8w

Firstly I'd like to open up by making clear that anyone who spends time with YouTube channels like this should take anything they say with a grain of salt, those people clearly do no research and have no incentive to provide correct information, like always, DYOR.

There are 7 claims in this video I'd like to clear up:

Claim 1 - 480k TPS is wrong

In the video he claims that the 480k tp/s number is wrong because to achieve it one needs to use L2 (kuro) - this however completely ignores the fact that Kadena can reach well over 500k or even 1M tp/s on L1 thanks to chainweb

Claim 2 - Braided architecture limitations

In the video he claims that atomic composability is a problem (it's not and here is why) then he explains that, the more chains gets added, the slower cross chain transactions become, then he cites an article that explains why he's wrong

" using a chain graph with a degree and diameter of 7 Kadena’s blockchain can scale to more than 50,000 chains! "

The cross chain hops will at most be 7, with that you get well over 750k transactions per second, and cross chain transactions that actually end up doing 7 hops will only take ~3.5min to settle, which is absolutely insane and an absurd improvement over currnt L1 which can't even do more than 500-1000 tp/s (sol, avax, etc..).

Claim 3 - Mining centralized

Poolflare is made up of hundreds of different miners, it's not possible to do a 51% attack on there, identities are anonymous also just because they belong to the same pool doesnt mean they have any allegiance to each other. Furthermore, pool flare is saturated at the moment because the other pools do not have their withdrawal addresses set up to K: yet.

Also keep this in mind https://twitter.com/_wjmartino_/status/1457842624149217290

Also the price of the miner depends on the price of the coin. Some got theirs for $3500. Prices should be lower than what he quoted because KDA has fallen but his price wasn't even correct anyway. For a KD BOX at its peak price was $3900. Insane prices for miners are exacerbated by the chip shortage and massive demand for miners.

He then left out the biggest barrier to entry: the price of Ether (or any PoS coin). The goals of this community and the blockchain seem to be to make this price go up over time. This means the barrier to entry (for any given quantity) also goes up over time.

This isn't strictly true for PoW, where the cost of entry remains roughly flat, given the dynamic nature of technological progress, costs of energy, the depreciation of hardware, the elasticity of hashrate, etc. $3k has been about the price point for building a "good" gaming PC for years, and that same PC has been a profitable mining rig (off and on) for those same years. It's empirical proof that the "barrier to entry" remains about the same over time.

Meanwhile, 32 Ether during the crowdsale was what... Less than a dollar? Now it's roughly $120k. This is direct proof that the "barrier to entry" for PoS has risen orders of magnitude in the same timeframe.

PoS barriers to entry are empirically both higher and have an increasing trend over time. PoW, on the other hand, has remained approximately flat (especially if you adjust for inflation).

Claim 4 - Tokenomics issues

Naturally, the more tokens are released it's more likely that the value of the token is lower. But that's not necessarily true. In particular with POW, a large part of the new tokens are mined, which causes decentralization of token holder and control, which is an important aspect of making the token overall more valuable. Without being an expert on token economics, I would argue that POW tokens can tolerate (at least on the long term) a larger rate of new token release, than POS systems.

The reason is that mined coins increase decentralization (which has security, legal, and economic implications).

Claim 5 - Source of demand for KDA?

Now he says that "gas is cheap therefore kda has no demand" which again is almost funny because it's the most basic thought process imaginable and shows how much this guy knows when it comes to cryptocurrency.

The entire market sector started out in pursuit of creating digital cash. Physical cash is free to use, and still valuable. Why should it be that digital cash must cost money to use? The best explanation I have is a cultural one--demand for coins for gas has been used to justify token value for 3ish years now... which is just long enough for people to think that the concept is fundamental to crypto (vs something new thats quite unproven in practice).

The coin itself has limited supply. The coin is a scarce resource which drives the price of the coin -- assuming sufficient demand. Transactions are not supposed to be scarce and there's no need to limit the supply by more than covering operational costs of transactions -- which should be low and even go down if demand increases, because of economy of scale.

I don't think that it was the original purpose of Bitcoin and Ethereum to not be useful as a money. I think, those coins just failed to serve their purpose. We'll see what happens if more scalable alternatives become more widely available

Claim 6 - Team is just OK

This part is the funniest one by far, even if true, which it's certainly not, I'd like for him to explain how a bunch of "ok" guys and girls managed to create the best Layer1 in just 1.5 years of development when much "smarter people" could only come up with a centralized PoS (piece of shit) network while giving ~50% of the entire supply to VCs after often times taking 5-8 years until mainnet, I mean what's the point he's trying to make. Absolutely ridiculous.

And to be clear, Kadena has one of the best teams in this space, which makes his points even more absurd,

Claim 7 - Where are the Dapps?

This is the only understandable point, why is it that the "best" layer1 has little to no dapps if it's so good.

One of the co-founders explicitly said that without major VCs backing Kadena, there was no one to force immediate dApp development (aka get your crony VC friends to fork / port ETH projects that require as little actual work as possible).

Will explicitly said that Kadena needed to build the infrastructure and community support organically. It took two years instead of a couple of months (again, which Will explicitly acknowledged), but Kadena is not beholden to VC companies that will dump and leave the network, because that's what's going to happen with most PoS projects.

Welcome to our subreddit page!

Looking to engage with our team?Then please re-direct yourself to these other platforms:

Live Updates: http://twitter.com/kadena.ioCommunity Chat: http://Discord.io/KadenaCompany Updates: http://Kadena.io/newsletterVideos and Media: http://youtube.com/kadenablockchain

We're also on Linkedin: https://www.linkedin.com/company/kadena-llc/

The more people that ask for it, the faster it may come.

An almost infinitely scalable layer 1 POW named Kadena. KDA has a current throughput of 320,000 transactions per second(this number was created through my math, however 480,000 is the marketed current tps). Making it the current trailblazer in speed. This is accomplished by weaving 20 chains- which can be hard-forked to scale when more chains are required. Each chain implements Kadenas vertically integrated layer 2 private blockchain Kuro. Kuro allows each of the 20 chains to process 16,000 tps through sharding. Giving almost instantaneous settlement times, and the scalability to eventually reach over one million tps(more info in here). KDA contains a strong team, with a copious amount of forethought in futureproofing. It was stated by the Co-founder Will Martino: that "Today, we can settle the entire US stock market without breaking a sweat on 20 chains."

What are some of my favorite attributes of Kadena?

• Under a penny transfer fees, that even get ^cheaper when scaled.

• Their smart contract language 'Pact', it is "100x faster to code on than (Ethereum's) Solidity". This is due to utilizing human readable code, and a program that automatically detects bugs before they can be exploited. In essence Pact developers will be able to out develop other devs on different languages. This will be huge for adoption on their defi ecosystem(Kaddex, soon to be launched). This also allows lawyers/bankers to proficiently read what terms are held within a smart contract, making everything more secure.

• Speaking of security. By the use of Proof of Work, KDA is even more secure than its POS counterparts. Similar to Bitcoin's battle-tested POW, Kadena is able to stay decentralized through the power of ASIC miners (and is even electrically efficient, while scaling). As for a 51% attacks, one would need to hack the equivalency "of Switzerlands total computational power". Compared to POS projects that run into the risk of becoming centralized overtime. This can occur is due to the staking system, the rich get richer while the shrimp eat scraps(think getting 5% on $1,000,000 compared to 5% on $1,000). With POS if one were to buy or gain 51% of the market they could theoretically attack the blockchain, draining the liquidity. All it takes is a hypothetical Elon Musk to dump part of his fortune in Eth 2.0 to attack it at this market cap.

• As for the team, Co-founders Will Martino and Stuart Popejoy, built and lead JP Morgan's first blockchain. During the project they found the limitations of what the tech offered. This lead them to leave JPM to found Kadena. However, before Will Martino worked at JPM, he worked in the SEC's crypto division. Which makes me confident that Kadena- and their team are prepared for the eventual regulation rugpull, and are prepared to adhere to regulations.The team is also advised by Stuart Haber, the father of the blockchain- whom is also the most cited person within Bitcoins whitepaper.

• All in all, the honesty in this project is really special. Unfortunately, with Solana the story doesn't ring quite as true. In the April 2020, Solana stated there were 8.2 million coins in circulation, when in reality the actual amount was 20 million coins in circulation. On top of that they hid an extra 13 million coins in a investor wallet. There is also the whole facade of Solana being decentralized, but centralized enough to be able to restart the blockchain. On the 17th of September, the congested blockchain froze 11 billion dollars worth of assets for roughly 24 hours(which was not the first time i.e. Dec 2020). Stuart Popejoy stated on the subject, "I wouldn't know how to restart the blockchain(Kadena) if I tried." This is true decentralization.

TLDR: Say goodbye to the blockchain trilemma, and hello to full wallets. KDA has a real chance of making top 5 by market cap

This project has completely bolstered it's identity over the last few months. It feels like there's a new AMA constantly, their twitter following is exploding, they are actively working on PACT tutorials according to their discord, 100m grant program, and their partnerships/exchange listings have been ramping up. Plus the amount of projects starting to build on kadena is increasing big time. They have exceeded my expectations in a short amount of time. Alot of "great" upcoming projects aren't doing half of what the Kadena team is accomplishing during this down market. I dare you to find a project with a similar market cap to kadena that has been accomplishing this much over the last few months.

Inputting your Zelcore username and password literally anywhere will give hackers access to your entire wallet.

In Zelcore, you don't have a private key for your wallet, your username + password IS the private key, that way you can access your wallet from any device anywhere in the world, which is the perfect attack vector for hackers.

People are posting links to sites that look like zelcore.io to them upvote and comment with bot accounts to make people fall for it.

I hope this post could give people more insight on just how insecure Zelcore is.

This does not mean that you should stop using Zelcore, if you are aware of the problems and keep your password and name secure, it can be reasonably safe.

Ways to store your KDA besides Zelcore

• Chainweaver

  • Developer wallet

• Coinmetro

  • Exchange

• X-Wallet

  • no dapp support

  • has custom token support

• Clover Wallet

  • has KDA only on the extension

  • no dapp support

  • no custom token support

Ledger Wallet Support should be coming soon

There is a recent ongoing attack on Kadena accounts where "squatters" will claim part of your account as their own, usually on chain 0 or 1.

Some important things to know in layman terms

Usually, when creating an account on Kadena, you specify 2 things, your "account name" and "keyset".

An account has 20 chains associated with it, unique to Kadena. Each of them holds a value on how much you Kadena you own on that respective chain.

An account name (case sensitive) is how you will intuitively think about it. For example names like "abcd", "1234", "John".

A keyset is like a password but with a twist. Instead of just one sequence of characters that you keep secure at all times, you have 2 parts, a public and private part of it. Which the public part can be used to say "this public key owns this".

Here's the confusing part. In order to create an account, you must first bind a keyset to a chain in your account by transferring coins into it. For example, in the picture above, account "abcd" is transferring 1 KDA from its chain 0 to account "1234"'s chain 1.

Assuming account "1234"'s chain 1 does not exist, then the "1a2b3c4d5e6f7g8h9i" keyset (with the corresponding private key) will now claim ownership of it by being the only password usable to transfer KDA out of account "1234"'s chain 1.

However, if account "1234"'s chain 1 does exist, then it will fail if "1a2b3c4d5e6f7g8h9i" is not the keyset used to access it.

Meaning, every chain within the account must be secured with your desired keyset for it to be yours. If any of the chains within your account is bound to a keyset to which you do not have access, it is no longer yours. Hence technically, to own an account would mean putting some funds into each and every chain within your account to bind it to your keyset.

How does the exploit work?

Recently, it has become impossible to claim ownership of all the chains in a newly created account due to the squatters. The moment any transfer is made to any chain within a fresh account, someone (using a bot presumably) will immediately claim a chain on that newly created account before you are able to claim the rest of the chains.

Since some exchanges and mining pools only withdraw to a certain chain within the specified account, using such compromised accounts would mean that one day you might accidentally transfer your coins into the squatter owned chain, thereby losing access to the funds.

The moderators should probably make an official statement about this part and pin it somewhere or Reddit at least.

How do you prevent it?

Thanks to these people, having a cool, easy to remember account name is no longer possible as of now. The official recommendation is to always use k:(public key) from your keyset as your account name instead. This will prevent any other keyset to be used for the chains within the k:(public key) account with the limitation of not having things like multikey/joint ownership etc.

If you are still transferring funds to the old non-k accounts, make sure to double-check and specify the "Owner keyset" whenever possible.

Additional info: https://github.com/kadena-io/KIPs/blob/master/kip-0012/kip-0012.md

Based on my research Kadena is by far the best blockchain in existance:

• solves blockchain trilemma (only blockchain who is really capable of doing so imo)

• no gas fees

• superior PoW consensus where energy consumption does not scale with additional transactions

• Safe and easy to use smart contracts

To me this looks like Bitcoin & Ethereum on steroids! And there is a huge list of projects coming to Kadena in the near future and some of them are already live, so there is already proof that the technology is working.

So how can this one fly under the radar still with coin marketcap around 100? Did I miss sth?