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Kadena (KDA)

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Kadena ranks #194 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #1468: 1274 of the 1467 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 1725 non-native assets CoinSpectrum lists above it by market cap, about 62% are tokens, 32% are claims on other assets, 6% are memecoins and 1% are NFT collections.

CoinSpectrum Grade	A · 69/100 · provisional
Rank among cryptocurrencies	#194
Rank counting claims	#1468
Market capitalisation	$3M
Price	$0.00756
Circulating supply	335,294,433 KDA
Maximum supply	1,000,000,000 KDA
Consensus family	Proof of Work
Consensus mechanism	Chainweb (Blake2s, 20 braided chains)
Own hashrate	17 PH/s
Network purpose	Smart-contract platform
Ledger type	Multi-asset ledger
Launch distribution	Presale

Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.

CoinSpectrum Grade (Source)

A — 69 out of 100, provisional (from 10 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 63 to 72 (A to A).

Section and criteria	Score	Basis
Consensus	10	average of 2 criteria
By leader (its largest chain's market cap) (Source)	10	Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap
By family (all its chains' market cap) (Source)	10	Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains
Supply	8.5	the supply scale times 0.9, and a point for a fixed cap that holds
Supply (21 million scores 10)	8.3	fixed maximum supply of 1 billion
Distribution	7.4	average of 3 parts
Holder concentration (Source)	–	Not yet measured
Active addresses	–	Not yet measured
Premine (allocated at launch)	3.4	66% of today's supply allocated at launch to founders, a company, a foundation or investors. 1B cap: 700M to miners over ~120 years (open PoW, excluded), 200M platform share (Kadena LLC, released to 2029-30), 90M investors, strategic reserve and contributors, 10M burned at launch. Insider = 290M. Mined to date ~134M as of Oct 2025 ('over 566M remain'), ~150M by Oct 2026, so the current total including locked platform tokens is ~440M and 290/440 is ~66%. source
Fundraising (share sold) (Source)	8.7	Sold by its issuer or insiders: 12.9% of supply sold. SAFT and token sales 2018-2019; the 2018 whitepaper allocates 56.7M KDA sold to investors (56.7/440 = 12.9%). Reported raises: ~$15M (company), and a $20M third token sale in Nov 2019 (conflicting). source
Developer share (after launch)	10	No developer share: every new coin goes to the miners or validators who produce blocks. All PoW block rewards (700M over ~120 years) go to miners. The 200M platform share, investor and contributor tokens are genesis allocations released on a schedule, counted as premine, not a cut of block rewards. source
Decentralisation	10	average of 3 parts
Governance (Source)	10	No authority can halt the chain or freeze funds: No protocol key can freeze user coins; the Community Edition hard fork (3.0) did migrate the Platform Share and namespace keysets from Kadena's keys to a new community keyset, a one-off fork-level reassignment of the company's allocation, not a standing power. source
No central team (Source)	10	No central team: Since Kadena LLC ceased operations (October 2025) the reference node is maintained by the volunteer KDA Community Edition group (github.com/kda-community), with forks activated by miner signalling; BSD-3-Clause licence inherited from kadena-io. source
Who can mint (Source)	10	Open to anyone with hardware: anyone can produce blocks by mining, no permission needed
Nodes (Source)	–	Not yet counted
Security	5.4	4.3 of 8 points source
Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points)	0	largest 51.4%, largest three 100%
Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points)	4.5	about 7,559 transactions a day
Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point)	6.8	own work 5; about 323 kW, 1.8 of 5; the largest on its algorithm
Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point)	7	one client, latest version Aug 2026
Open source (Node software)	✓
No 51% attack (Nor a deep reorganisation, five years)	✓
Scalability	6.2	average of 5 parts source
Fees ($0.001 or less 10, $1 or more 0)	10	typical fee $3e-8
Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5)	5.8	about 200 simple transactions a second
Block time (10 minutes 10, less either side)	5.3	a block every 30 seconds
Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth)	10	360 MB limit (converted from its gas, compute, mass or count limit), 7200 MB per 10 minutes
Features (3 checks)	0	0 of 1 passed, 2 not yet researched
Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11)	✗	30-second blocks per chain with probabilistic PoW confirmation; no instant finality or zero-conf protection.
Pruned nodes (Old history dropped, every rule checked · Whitepaper §7)	–	chainweb-node compaction of Pact state exists; whether nodes can drop old block payloads was not established.
Light clients (Payments verified from headers · Whitepaper §8)	–	Chainweb serves SPV proofs (used for cross-chain transfers), but a standalone header-verifying light client was not established.
Privacy	3.5	3.5 of 10: whitepaper privacy 3.5 of 7, extra features 0 of 3, 1 not yet researched source
Protocol level privacy (Keys not tied to an identity · Whitepaper §10)	10	Accounts are keyset-guarded and created by anyone through the coin contract, with no identity check.
UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9)	0	An account ledger: one running balance for each address, so the remainder stays at the sending address and its payments share one public history.
HD addresses (A new address for each payment, unlinked · Whitepaper §10)	–
Hidden amounts (Amounts confidential)	0	Pact coin balances and transfers are public.
Hidden parties (Sender and receiver hidden)	0	Sender and receiver accounts are public.
Network privacy (Origin hidden by default)	0	chainweb-node relays transactions directly; no Dandelion or Tor.
Programmability	7.8	7 of 9 points source
Token issuance (At protocol level)	2	Pact smart contracts on Chainweb, open to any account, carry fungible-v2 tokens; the chain runs on as a community edition since the November 2025 fork after the Kadena organisation shut down.
Smart contracts (General-purpose)	2	Pact smart contracts on Chainweb, open to any account; the chain runs on as a community edition since the November 2025 fork.
Multisig and time locks (Without a third party)	✓	Pact keysets with built-in predicates (keys-all, keys-any, keys-2) and block-time checks through chain-data and time functions.
Atomic swaps (With other chains)	✓	Pact can express hash-locked, time-locked escrow (hash plus chain-data block time).
Native DEX (Trades the coin itself, not a claim)	✗	No DEX found trading the coin itself: none on its own chain (DefiLlama), and not on THORChain, Maya, Chainflip, Komodo DeFi, BasicSwap, Bisq or Haveno (checked 2026-11-04).
Cross-chain messaging (Verified by the chain itself)	✗	SPV cross-chain transfers connect Chainweb's own braided chains, not other blockchains.
NFTs (Carried by the chain's rules)	✓	Marmalade NFT standard, Pact contracts deployed on mainnet (V2 since 2023).
Demand	2.8	average of 7 measures
Exchanges (10 or more: 10)	2	2 exchanges
Daily volume ($10K 0, $1B or more 10)	0	$5,680 traded in 24 hours; #2997 by volume on the exchanges the site reads (scored on the median day of the last 30, $2,816)
Turnover (volume ÷ market cap, 5% a day: 10)	0.7	0.09% of its market cap a day, median of the last 30 days
Order-book depth (±2% of the price ÷ market cap, 1%: 10)	4.7	$638 within 2% of the price on 1 exchange, 0.03% of its market cap, median of the last 15 days
Market cap ($1M 0, $10B or more 10)	1	$2.5M, 1 on a scale of 2.5 points per tenfold
Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0)	10	no futures, options or margin on the exchanges read
Wallet support (wallets that hold it, 10 or more: 10)	1	its own node and wallet, counted as 1: no wallet in the site's directory lists it yet
Record	7.7	average of 3 criteria
Age (years since genesis) (Source)	6	6 full years since 2020-05-31, the first day with a recorded price (genesis not yet researched, so the age can only be understated).
Development (work, fixes, vulnerabilities)	8	3 positive, 0 negative, 1 not yet researched source
Positive
Steady work, 6 of 6	✓	244 commits in 10 of the last 12 months (github.com/kda-community/chainweb-node); Kadena (the company) wound down in October 2025 and its final kadena-io/chainweb-node 2.32.0 (2025-11-22) notes mainnet stopped on 2025-11-15; the live chain runs kda-community/chainweb-node 'Community Edition', last release 3.2.1 (2026-08-10 changelog, tagged 2026-08-21), after 3.0 (2025-11-06), 3.1 (2025-11-25) and 3.2 (2026-07-10).
Shipped a security fix in two years, +1	✓	Chainweb 2.28, Mar 2025: emergency fork fixing hash natives lost in the Pact 5 upgrade; community chainweb-node 3.2, Aug 2026: mandatory release fixing security-related issues.
Shipped a new capability for users in two years, +1	✓	Chainweb 2.27, Jan 2025: Pact 5 smart-contract engine, followed by Pact 5.3 (Jul 2025) and 5.4 (Oct 2025) language releases.
Not yet researched
Shipped a scaling upgrade in two years	–
Conduct (origin, claims, halts)	9	2 positive, 1 negative source
Positive record
Launched with a stated purpose, not as a joke	✓
No claims by its founders that contradict its own design	✓
Negative record
Halt, freeze or reversal, 2025-11-15	✗	The original kadena-io node carried a service date: per the kadena-io/chainweb-node README, Kadena mainnet as run by that software stopped producing blocks at 2025-11-15T23:26:15Z. Miners had already moved to the Community Edition fork (chainweb-node 3.0, released 2025-11-06, forking from mainnet at 04:00 UTC on 2025-11-08), which carries the chain on. github.com github.com

Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.

Proof of Work coins

Proof of Stake coins

Supply

335,294,433 of a maximum 1,000,000,000 KDA are in circulation — 33.5% of the total that will ever exist.

Launch and allocation

Premine (allocated at launch)	66% of today's supply
Sold by the issuer or insiders	12.9% of today's supply
Developer share received since launch	0% of today's supply
Developer share of new coins today	0%
Fundraising	Private or venture funding

1B cap: 700M to miners over ~120 years (open PoW, excluded), 200M platform share (Kadena LLC, released to 2029-30), 90M investors, strategic reserve and contributors, 10M burned at launch. Insider = 290M. Mined to date ~134M as of Oct 2025 ('over 566M remain'), ~150M by Oct 2026, so the current total including locked platform tokens is ~440M and 290/440 is ~66%.

SAFT and token sales 2018-2019; the 2018 whitepaper allocates 56.7M KDA sold to investors (56.7/440 = 12.9%). Reported raises: ~$15M (company), and a $20M third token sale in Nov 2019 (conflicting).

All PoW block rewards (700M over ~120 years) go to miners. The 200M platform share, investor and contributor tokens are genesis allocations released on a schedule, counted as premine, not a cut of block rewards.

Kadena LLC wound down operations in Oct 2025; the chain continues. The investor/contributor split varies by source (56.7M + 43.3M in the 2018 whitepaper vs 90M + 10M burned per CMC). The mined-to-date figure is estimated from the Oct 2025 statement.

Sources: docs.kadena.io · kadena.io · docs.kadena.io · coinmarketcap.com · odaily.news · mexc.com. Researched 2026-10-24, high confidence.

The work behind it

Kadena is secured by 17 PH/s of its own work. Hashrate does not compare across algorithms — a SHA-256 hash and a Scrypt hash cost different amounts to produce.

What a regulator has said

No SEC/CFTC determination — unclassified.

The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.

How CoinSpectrum ranks Kadena

Kadena is #194 among cryptocurrencies and #1468 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 1274 places between Kadena's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.

The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).