Although Bitcoin ($BTC) recently hit a new ATH price, the largest cryptocurrency has faced much scrutiny for its energy-intensive, Proof-of-Work (PoW) blockchain over the past year. Ex: Elon Musk’s May 12th tweet, which triggered a -48% decline for BTC in the following week.
Due to the high energy expenditure required for PoW consensus, most up-and-coming blockchain projects have opted to use Proof-of-Stake (PoS), a consensus mechanism that generally requires much less energy.
However, one development team, Kadena, opted to focus its efforts on making Proof-of-Work energy-efficient…And they claim to have pulled it off.
Kadena ($KDA) is a tier-1, Proof-of-Work blockchain, which promises to deliver an incredibly high number of transactions per second (TPS) and high energy efficiency as a result.
The price of $KDA has already exploded, up +127% in the past week. Underlying investor chatter has seen an even more impressive increase, with mentions of $KDA and the Kadena blockchain up +261% month-over-month and +861% QoQ (7d MA).