Kadena ranks #188 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #1411: 1223 of the 1410 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 1638 non-native assets CoinSpectrum lists above it by market cap, about 74% are tokens, 20% are claims on other assets and 6% are memecoins.
| CoinSpectrum Grade | B · 71/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #188 |
| Rank counting claims | #1411 |
| Market capitalisation | $3M |
| Price | $0.0101 |
| 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 | 15 PH/s |
| Network purpose | Smart-contract platform |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
B — 71 out of 100, provisional (from 18 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 64 to 75 (B to A).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 10 | group average |
| Consensus: leader ladder | 10 | Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 10 | Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 6.8 | group average, 11 of 13 measured |
| Sound Money Qualities (6 checks) | 7.8 | 3.9 of 5 points, 1 not yet measured source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 8.9 | fixed maximum supply of 1 billion: supply scale 7.8, cap 10 |
| Durability: five years or more with no halt, freeze or reversal | ✗ | 6 full years since its first recorded price, one halt, freeze or reversal in five years |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | ✓ | no authority can freeze, blacklist or set apart a coin |
| Divisibility: the smallest unit worth a cent or less | ✓ | 12 decimal places, the smallest unit worth $1.0e-14 |
| Portability: fees of a cent or less and capacity for real demand | ✓ | typical fee $3e-8; about 200 transactions a second (5.9 on the throughput scale; 5 is the busiest networks' median demand) |
| Verifiability: open-source nodes and checking without a trusted server | – | node software open source |
| Privacy (5 checks) | 2 | 1 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Accounts are keyset-guarded and created by anyone through the coin contract, with no identity check. |
| UTXO ledger: a new key for each payment, no account linking every coin | ✗ | |
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | chainweb-node relays transactions directly; no Dandelion or Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | Pact coin balances and transfers are public. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | Sender and receiver accounts are public. |
| Scalability (fees, throughput, block time, block space, features) | 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; 119, the median of the ten busiest, 5) | 5.9 | 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 (32 MB or more 10) | 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 |
| Payments safe to accept within seconds | ✗ | 30-second blocks per chain with probabilistic PoW confirmation; no instant finality or zero-conf protection. |
| Pruned nodes: a full node can validate and drop old history | – | chainweb-node compaction of Pact state exists; whether nodes can drop old block payloads was not established. |
| Light clients verify payments from headers or proofs, without a trusted server | – | Chainweb serves SPV proofs (used for cross-chain transfers), but a standalone header-verifying light client was not established. |
| Security (miner pay and 7 checks) | 4 | 4 of 9 points source |
| Miners paid a day ($1,000 0, $10 million or more 10), 2 points | 0 | about $529 a day |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✓ | |
| Largest pool or validator under 50% | ✗ | 51.4% |
| Largest three under 75% | ✗ | 100% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | 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. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 7,559 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 7.8 | 7 of 9 points source |
| Token issuance at protocol level, validated by its own nodes | 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: a general-purpose contract system | 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 | ✓ | 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). |
| An exchange built into the protocol | ✗ | No exchange in the protocol; DEXs such as KaddexSwap are Pact modules. |
| Cross-chain messaging the chain verifies itself | ✗ | SPV cross-chain transfers connect Chainweb's own braided chains, not other blockchains. |
| Non-fungible tokens | ✓ | Marmalade NFT standard, Pact contracts deployed on mainnet (V2 since 2023). |
| Decentralisation | 7.8 | section average, 6 of 8 measured |
| Censorship resistant (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 | Proof of work: 10 of 10 on the ladder of who produces blocks |
| Nodes (Source) | — | Not yet counted |
| Holder concentration (Source) | — | 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 | 3.4 | Sold by its issuer or insiders: 66% of supply was theirs to sell, 12.9% sold so far. 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 |
| Supply & Demand | 5.5 | group average |
| Supply & Demand (Source) | 3.2 | average of 6 measures |
| Exchanges (10 or more: 10) | 1 | 1 exchange |
| Daily volume ($10K 0, $1B or more 10) | 0 | $3,229 traded in 24 hours; #2903 by volume on the exchanges the site reads (scored on the median day of the last 30, $4,302) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 1.6 | 0.13% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 5.4 | $1,394 within 2% of the price on 1 exchange, 0.04% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 1.3 | $3.4M, 1.3 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 |
| Supply (smaller is better) | 7.8 | fixed maximum supply of 1 billion |
| Record | 7.7 | group average |
| Record (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 (3.0, 2025-11-06, rewinding nodes to the community fork point), which continues the chain today. |
| 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, improvements, unfixed issues) | 8 | 3 positive, 0 negative, 1 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 371 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 | – | |
Twenty criteria, weighted equally. The Cryptocurrency Standards have six sections: sound money qualities (six checks: scarcity, durability, fungibility, divisibility, portability, verifiability), privacy (five checks), scalability (four measures and three features), security (miner pay and seven checks), programmability (token issuance, smart contracts and five checks) and decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share). Provisional: criteria 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.
335,294,433 of a maximum 1,000,000,000 KDA are in circulation — 33.5% of the total that will ever exist.
| 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.
Kadena is secured by 15 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.
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.
Kadena is #188 among cryptocurrencies and #1411 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 1223 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).