On 25 June, the Head of Marketing for Kadena, Tony Pham, made an official announcement, stating that the company will have its first KDA token listing on Bittrex Global. Measured by Bitwise Investments and Messari, Bittrex Global is a Top Ten exchange, with more than 190 cryptocurrencies in circulation.
As stated by Kadena’s Co-Founder and CEO, Will Martino, the organization decided to turn its attention towards the community after successfully rolling out its hybrid blockchain platform in stages, culminating with the full feature launch at the start of this year. He also noted the team’s excitement to have Bittrex Global as the first exchange to officially list KDA.
According to Kadena, the tokens are used for both the creation of new smart contracts as well as for paying the gas costs of executing them. They are written in Pact, Kadena’s signature open-source, Turning-incomplete, and human-readable language, which is specifically designed to create secure and automated contracts.
The initially-announced trading pairs for KDA are Bitcoin (BTC) and Tether (USDT). Additionally, Bittrex Global will provide access to liquidity for Kadena tokens to miners and community members from outside the United States. Along with the listing, the company is now open-sourcing a decentralized application for healthcare professionals to use for managing and validating COVID-19 test results. The dapp does not require onboarding with KDA tokens or any previous experience with blockchain.
Kadena claims that the newly-released application is designed to solve the problems of aggregation and efficient distribution of test results. Using blockchain technology, protected health data will stay inaccessible to unauthorized parties. The medical professionals will easily enter and submit information to the generated web form by scanning a QR code associated with a testing kit. The test results as well as the patient’s information will be stored on Kadena’s hybrid blockchain platform.
“If blockchain is ever to see mainstream adoption, it is vital to demonstrate a system that scales as well as the existing non-decentralized platforms that currently dominate the digital world,” said Stuart Popejoy, Kadena Co-Founder and President. He then added that transitioning from 10 to 20 chains will be a significant technological breakthrough and a confirmation that scalable blockchain has arrived.
Scaling blockchain is considered the future of cryptocurrency, and with Kadena’s layer-1 hybrid platform, the company has now successfully proven that such a public network is something completely feasible. According to this announcement, the transition is set to take place on July 31.