Proof-of-work (Pw) blockchain networks were all the rage in the early days of cryptocurrency when Bitcoin set the standard for security and other projects followed suit in diverse attempts to offer a robust, scalable network that would either support payments of efficiently transmit information.

Most protocols have now shifted to proof-of-stake, merely Kadena, a scalable layer-1 blockchain protocol, is still operating on the quondam Pw model. According to the project, the network is capable of processing up to 480,000 transactions per 2nd thanks to the utilise of "braided chains."

Information from Cointelegraph Markets Pro and TradingView shows that in the last ii weeks, Kadena'due south (KDA) toll has rallied 1,124% to a new record high at $25.94 on Nov. 7 as its 24-hour trading volume spiked from a daily boilerplate of $three one thousand thousand to more than $345 million.

KDA/USD 4-hr chart. Source: TradingView

Three reasons for the breakout in KDA'due south price include the launch of Wrapped KDA (wKDA) on the Ethereum network, the rollout of nonfungible token (NFT) projects, new exchange listings and the add-on of support for KDA staking.

Kadena joins the DeFi brigade

KDA recently launched a wrapped version of its token called wKDA, which operates on the Ethereum network and allows information technology to interact with all Ethereum Virtual Machine-compatible decentralized finance (DeFi) protocols.

The process was completed in conjunction with the CoinMetro exchange and volition help to create a new level of token utilization for KDA, which, to this point, had been unable to cross the span into the interoperable globe of DeFi.

As noted in the tweet above, the team behind Kadena also plans to add cross-chain back up for other blockchain networks, such as Terra, Polkadot, Celo and Cosmos.

NFT projects launch on Kadena

Some other reason for the increased momentum seen in KDA was the addition of NFT capabilities to the network as a mode to showcase the ability of smart contracts to transact high-need items while keeping fees low.

NFTs have been i of the hottest sectors in the cryptocurrency ecosystem and too announced to be ane of the primary methods for attracting new users to a network, and so it'southward not surprising to see however some other project resort to this tactic.

One of the chief selling points for Kadena is its ability to offer low-cost transactions in a PoW setting while withal offering fast processing times.

The project has also introduced a "crypto gas station" feature that allows businesses to eliminate all transaction fees for their customers past creating accounts that be to fund gas payments on behalf of their users under certain conditions.

New commutation listings and staking opportunities

KDA has also received support from cryptocurrency exchanges, including a new listing on Crypto.com, and CoinMetro now offers KDA staking.

After officially reopening KDA staking capabilities on Nov. iii, CoinMetro saw 730,000 KDA tokens deposited within 20 minutes to fully tap out the staking pool's capacity.

This indicates KDA holders are excited nearly yield opportunities, and it could bode well for its integration into DeFi. Wrapped KDA might as well contribute to reducing the circulating supply of KDA, which ideally would exist boosted buy pressure on the tokens' cost.

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