It’s too late for anyone who didn’t invest in Shiba Inu before the fall of 2021 to reap massive returns. Sure, the crypto has a few potential catalysts in 2022 that might cause it to go higher. But do not expect seven or eight digit returns in the future.
Is there good news? Yes. If you missed out on the Shiba Inu craze, here is another crypto to buy now.
Going against the grain
Kadena may seem like a surprising choice as a potential next breakout crypto at first glance. Its blockchain is using the POW protocol, which isn’t very energy efficient, is painfully slow, and has high transaction fees.
However, Kadena’s creators knew the downsides to using the PoW protocol from the beginning. They created the blockchain in an innovative way, by using a “chainweb” that helps address many limitations of PoW architectures.
The Developers are Will Martino and Stuart Popejoy and they built JPMorgan’s first blockchain. Popejoy led the company’s rising Blockchain group, while Martino was employed as the top tech position for the Crypto Steering Committee of the SEC. They released Kadena in 2016.
Kadena is not going to increase in value because of the caliber of the people that are involved with its creation, though. However, there are some reasons why the crypto should have huge prospects.
Put speed and scalability at the top of the list. Kadena (the firm behind the crypto) maintains that its platform is able process 480,000 transactions each second with 20 chains within its Chainweb architecture. Those speeds might even increase as additional chains are added to its network. Kadena’s energy efficiency is increased as it scales up as well.
Transaction costs are also very low. Businesses that use Kadena could eliminate transaction fees altogether by using its cryptocurrency gas station.
The use of the PoW protocol provides a more proven level of security to Kadena than most newer cryptos that use the PoS protocol. Any of the high-profile security problems with PoS-based coins may work to Kadena’s benefit.
The PoW protocol gives Kadena the security that Bitcoin has. But Kadena’s unique architecture also gives it impressive speed and scalability with low costs.
Another Shiba Inu?
Is Kadena really another Shiba Inu? There is no way to be certain. Kadena has been winning big (up over 8,600% in the past 12 months) but it has not come close to delivering the massive gains that Shiba Inu has so far.
However, Kadena clearly has many advantages to offer developers of decentralized applications. It Plans to boost the number of chains on its network to 100 which would most certainly attract even more developers.
Perhaps there won’t be any cryptocurrencies that will skyrocket this year like Shiba Inu did in 2021. Kadena, though, seems to be an intriguing option for any investors who missed out on those impressive gains.
Author: Blake Ambrose