Friday, December 3

Kadena CEO criticizes Solana and says she can be hacked

Cryptocurrency CEO Kadena criticized Solana’s smart contracts, as they can be more complicated than Ethereum’s, as well as being less secure.

The cryptocurrency attracted attention in the last seven days, when it registered an appreciation of 55%, occupying today the 59th position of the market cap. Furthermore, its founders are known in the banking market, having already worked in the blockchain sector of JPMorgan.

Another detail that ended up drawing attention to the project is that it is advised by one of the founders of the blockchain concept, the cryptographer Stuart News. In the Bitcoin whitepaper, for example, Stuart is cited in the references by Satoshi Nakamoto twice, making him the most mentioned cryptographic scientist by the creator of BTC.

Cryptographer Most Cited by Bitcoin Creator on Whitepaper is Kadena’s Blockchain Advisor /Credit:

The Kadena project seeks to reach the market to rival Ethereum, Cardano and Solana, for example.

Kadena CEO criticizes Solana’s smart contracts

The creators of Kadena (KDA) are Stuart Popejoy and Will Martino, known for creating the JPMorgan blockchain, now known as JPM Coin. This project made them envision a future in the cryptocurrency sector, especially in smart contracts.

Kadena’s audacious project then sets out to do this, when in 2020 it was announced on the market, with the aim of bringing scalability to the blockchain with security.

Thus, this project will hit the market with force, which is going through a good moment in sectors such as DeFi and NFTs, in addition to, of course, smart contracts. Remember that Kadena’s core network has already been launched on the market and tests are being done to create more features.

Thus, the CEO of Kadena criticized the Solana project last Friday (12), one of its possible competitors, which he said is a complicated network to publish smart contracts, which can even draw the attention of hackers, since its security would possibly be low.

According to Stuart Popejoy, when sharing a critique of a programmer directed at Solana who works with the Rust language, this network is worse than Ethereum for building decentralized applications, with the Kadena project being one with the intention of solving this possible problem.

“All languages ​​are NOT the same, which is why building dApps in normie languages ​​like Rust is a bad idea. Pact has formal verification because it is a spiritual successor to Bitcoin Script, not Javascript. Build the future with kadena + Pact, the safest smart contract language.”

Proof of Work, similar to Bitcoin

Kadena’s core network, called Chainweb, uses for proof of work mining, similar to Bitcoin. According to researchers in this network, some of the main security features of the largest digital currency were incorporated into the project.

It is not yet clear how the NFT and DeFi market will work on the Kardena network, but it will have support for the Ethereum, Celo, Terra networks, among others.

Another issue that the Kadena community is looking forward to is the scalability of transactions at low cost, which could rival Ethereum in the market, currently relying on absurd fees on the network.

Remember that despite having a team known in the blockchain world, Kadena is a new project with high market risk.

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