KardiaChain

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Discover KardiaChain's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is KardiaChain?

KardiaChain (KAI) is a decentralized blockchain platform that focuses on interoperability and self-optimization. It allows for seamless communication and interaction between different blockchains, ensuring secure and efficient transactions. The native token, KAI, is a utility token used for settling payments, staking, and incentivizing network participants. It operates on the Ethereum network with an ERC-20 standard and has a total supply of 5 billion tokens.

How is KardiaChain used?

KardiaChain (KAI) is a versatile cryptocurrency that serves multiple purposes within the KardiaChain ecosystem. Here are some key ways KAI is used:

Governance and Utility

KAI is the governance and utility token of KardiaChain. It operates as a flexible digital asset that enables various functions within the system. Users can utilize KAI as a cryptocurrency for transactions and settlements between participants on the platform.

Staking and Rewards

KAI can be staked to earn rewards. Staking is a low-risk method for users to secure consistent returns without needing to monitor market conditions. This feature is particularly appealing to new cryptocurrency users.

Community Governance

Holders of KAI have the ability to participate in community governance. They can propose and vote on changes to the network, such as fee adjustments or new feature additions. The weight of a user's vote is directly proportional to the amount of KAI they hold, ensuring that those most invested in the network have the most influence.

Cross-Chain Operations

KardiaChain's interoperable technology allows for seamless communication between public or private blockchains. This enables developers to create cross-chain dApps that can interact with other blockchains securely and efficiently, reducing congestion and improving overall performance.

Payment and Settlement

KAI is used as the primary token for settling payments and transactions within the KardiaChain ecosystem. It provides a convenient and secure mode of payment between participants.

Mining and Validation

KAI is required for mining and validation on the KardiaChain network. Miners must stake a certain amount of KAI to participate in mining, which helps maintain network integrity.

Overall, KAI is an integral part of the KardiaChain ecosystem, facilitating various functions and ensuring the smooth operation of the network.

How do I store KardiaChain?

To store KardiaChain (KAI) tokens, you can use the KardiaChain Mobile App Wallet, which is available for both iOS and Android devices. Here are the steps to set up and use the wallet:

  1. Download and Install the App:

    • For iOS devices, download the app from the App Store.
    • For Android devices, download the app from Google Play.
  2. Create a New Wallet:

    • Open the app and click on "Create New Wallet."
    • Write down the Mnemonic Phrase that appears on the screen for future recovery.
    • Click "Understood" and set a new PIN to secure your wallet.
  3. Accessing the Wallet:

  • Click on "Access My Wallet" and import your wallet using the Private Key or Seed Phrase (Mnemonic Phrase).
  • Set a PIN to secure your wallet.
  1. Wallet Features:

    • The wallet has five main categories: Home, Transaction, Staking, Address, and Settings.
    • The Home screen displays your balance in USD and KAI, along with the option to buy KAI.
    • The Transaction section shows the history of all transactions and allows you to send KAI to different addresses.
    • The Staking section displays staking information and allows you to delegate KAI to validators.
    • The Address section allows you to save addresses for future transactions.
    • The Settings section includes language settings and other configuration options.
  2. Security:

    • The wallet has built-in security features, including PIN, Face ID, or fingerprint authentication.
    • It logs out automatically after a period of inactivity, requiring you to re-enter your credentials to access the wallet.

Additionally, you can also use MetaMask to store KAI tokens. To do this, follow these steps:

  1. Install MetaMask:

    • Download and install the MetaMask Chrome extension.
  2. Create a Wallet:

    • Create a new wallet or import an existing one using the recovery phrase.
  3. Configure the Wallet:

  • Go to the Settings page and select "Network."
  • Add the KardiaChain Mainnet (KAI) network manually.
  1. Import Tokens:

    • Get the contract address of the token and copy it.
    • Open MetaMask, click "Add Token," and paste the contract address.
  2. Use the Wallet:

    • You can now use MetaMask to store and manage your KAI tokens.

Remember to always use strong passwords and enable two-factor authentication to ensure the security of your wallet and tokens.

How to buy KardiaChain?

To buy KardiaChain (KAI) tokens, follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports KAI trading. Some popular options include KuCoin, Gate.io, HTX Global, MEXC, and Kriptomat.

  2. Create an Account: Register on the chosen exchange's website or app. Verify your email address and identity to ensure account security.

  3. Deposit Funds: Add funds to your account using a debit card, credit card, wire transfer, or Bitcoin (BTC). The available deposit methods may vary depending on the exchange.

  1. Buy KAI: Use your deposited funds to purchase KardiaChain (KAI) tokens. You can do this by selecting KAI from the list of available cryptocurrencies and entering the desired amount.

Additionally, if you want to buy KAI on a decentralized exchange (DEX), you will need to purchase the mainnet cryptocurrency (e.g., ETH for Ethereum-based DEX) first and then swap it for KAI.

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History of KardiaChain

KardiaChain, a blockchain solutions ecosystem, was conceived in early 2018. The project raised $1.7 million in development funding through a private sale in June 2019, which accounted for 16.32% of the maximum supply of its native token, KAI. The total supply of KAI is 5 billion tokens, with 750 million available in the token sale, which sold out entirely, raising $1.08 million.

The KAI token was initially issued on the ERC-20 standard via an Initial Exchange Offering (IEO) on April 8, 2020. Later, in December 2020, the KardiaChain main net was launched, and KAI was swapped to the native chain. The main net utilizes dual Byzantine-Fault Tolerant Delegated Proof-of-Stake consensus mechanisms on their Dual Node technology.

The remaining KAI tokens entered circulation through either block rewards for validators post-main net or vesting releases from various allocations. KardiaChain has since collaborated with other projects, such as NEM and DAO Maker, to expand its ecosystem and user base.

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How KardiaChain works

KardiaChain (KAI) operates as a hybrid smart inter-blockchain ecosystem, enabling developers to create cross-chain applications efficiently. The protocol's core features include:

Governance and Utility Token

KAI is the native digital utility token of KardiaChain, used for governance and as the platform's utility token. Users can stake KAI to earn rewards, which provides a consistent and low-risk passive income stream. The token is non-refundable and cannot be exchanged for cash or other virtual currencies.

Community Governance

KardiaChain users have the ability to propose and vote on future developments of the network. The more KAI a user holds, the more weight their vote carries, ensuring that those most invested in the network have the most significant say in its direction.

KRC-20 Tokens

The KRC-20 token standard is KardiaChain's equivalent to the popular ERC-20 token protocol. Developers can create KRC-20 tokens to power new markets and applications, offering more efficiency and lower transaction costs compared to the Ethereum network.

Elastic Sharding with Incentive Mechanism (ESWIM)

ESWIM is a key protocol that improves performance and security by adjusting block reward distributions and other criteria. This mechanism helps maintain an appropriate number of nodes and staking power in Dual nodes and the mainnet.

Smart Contract Markup Language (KSML)

KSML is a unified smart contract language that streamlines multi-chain blockchain programming and provides backward compatibility with EVM (Ethereum Virtual Machine) contracts. This allows Ethereum developers to convert their applications to the KardiaChain ecosystem without recoding, making it easier for developers to onboard.

Consensus Mechanism

KardiaChain uses a Delegated Proof of Stake (DPoS) consensus mechanism, which is Byzantine Fault Tolerant (BFT). This system provides more scalability than traditional Proof of Stake systems by reducing the number of users who validate transactions. Users nominate nodes by staking their tokens, and both delegators and stakers receive rewards for their participation.

Dual Nodes

Dual nodes are a unique feature of KardiaChain, allowing them to monitor actions on KardiaChain and another network simultaneously. These nodes power the cross-chain capabilities of the protocol, enabling seamless interactions between different blockchain networks.

Overall, KardiaChain's technology is designed to bridge the gap between interoperability and slow adoption rates of blockchain technology, making it easier for developers to create and deploy cross-chain applications.

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KardiaChain's strengths

The token KardiaChain (KAI) has several strengths that make it a robust and versatile digital asset:

  1. Governance and Utility Token: KAI serves multiple roles within the KardiaChain ecosystem, functioning as both a governance and utility token. This flexibility allows users to engage in various activities, such as staking, voting, and using it as a means of payment within the network.

  2. Staking and Rewards: Users can stake KAI to earn rewards, providing a consistent and relatively low-risk way to secure returns. This feature is particularly appealing to new cryptocurrency users who want to participate in the network without needing to closely monitor market conditions.

  3. Community Governance: KAI holders have the ability to propose and vote on network developments, ensuring that those most invested in the network have a significant say in its future. This decentralized governance model promotes community engagement and decision-making.

  1. Cross-Chain Interoperability: KardiaChain's dual node infrastructure enables seamless communication between public and private blockchains, addressing the issue of network fragmentation. This feature allows developers to leverage the strengths of different blockchains, enhancing overall functionality and adoption.

  2. Security and Incentives: The staking model incorporates a mature time mechanism, which makes it more difficult for malicious users to launch a successful attack on the network. Additionally, the slashing mechanism, where tokens are burned for malicious activities, discourages such attempts and maintains network integrity.

These strengths position KardiaChain (KAI) as a robust and innovative blockchain infrastructure, well-suited to meet the demands of enterprise and governmental sectors.

KardiaChain's risks

KardiaChain (KAI) carries significant financial risks. The project is considered a high-risk investment due to its volatility and potential for market manipulation. The risk gauge rank for KAI indicates that it is currently a high-risk investment, with lower scores equating to higher risk and higher values representing lower risk. Additionally, KardiaChain's price predictions are highly speculative and subject to significant fluctuations, making it crucial for investors to conduct thorough research and consider all possible scenarios before investing.

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Did KardiaChain raise funds?

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KardiaChain’s team

  • Thang Huynh: Chief Research Officer at KardiaChain.
  • Nam Do: Techie, Builder, and Dreamer at KardiaChain.
  • Huy Nguyen: Business Development and CEO of KardiaChain, highly experienced in blockchain, technology, and finance sectors.

Whalee AI

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