Kaia KAIAPrice $ 0.116

Kaia is a public blockchain designed to meet enterprise-grade reliability and performance standards, with a particular focus on becoming Asia's leading blockchain platform. It offers rapid transaction finality, with blocks generated every second and a capacity to process 4,000 transactions per second, making it suitable for large-scale applications. Kaia also provides a seamless developer experience with Ethereum Virtual Machine (EVM) compatibility, enabling developers to port Ethereum-based dApps easily.

How Does Kaia Work?

At its core, Kaia operates using KAIA, the native cryptocurrency of the blockchain. KAIA plays a critical role in the platform by serving as both a utility token and a mechanism for incentivizing network participants.

• KAIA as a Utility Token: KAIA is used to pay for transaction fees when creating or executing smart contracts or transferring assets on the blockchain. This ensures that every action on the network is compensated with a small fee to maintain operations and encourage efficiency.

• Consensus Nodes (CNs): KAIA is also vital to the health and operation of the network through its role in compensating Consensus Nodes (CNs). These nodes are responsible for validating transactions and maintaining the distributed ledger. CNs receive KAIA tokens as payment for their computational resources, encouraging continuous and reliable participation.

• Incentivizing High-Quality Applications: Because KAIA is a limited resource, it encourages developers to write efficient, high-quality code. Inefficient or wasteful code incurs higher transaction fees, incentivizing developers to optimize their applications for cost-efficiency.