What is cryptocurrency KAVA Labs (kava) and how to buy it?

What is KAVA Labs?

The Kava Network is a pioneering Layer-1 blockchain that merges the rapidity and scalability of the Cosmos SDK with Ethereum’s developer assistance. By implementing a distinct co-chain architecture, the Kava Network will enable developers to construct for Web3 and future-generation blockchain technologies. This architecture operates in a similar manner to other blockchains within the Cosmos ecosystem and is built to be interoperable between chains.

What is KAVA Labs Used For?

  • Seamless interoperability: Through seamless interoperability between the Ethereum and Cosmos Co-Chains, developers are empowered to construct in whichever environment they choose, without forfeiting access to the users and assets of the other chain.
  • Optimized scalability: The exclusive architecture of the Kava Network facilitates the unrestricted movement of users, assets, and projects between Kava and the industry’s most pertinent ecosystems on a massive scale. This is achieved through the lightning-fast Tendermint Core consensus engine.
  • Rapid ecosystem growth: Innovative and transparent incentive programs implemented on-chain guarantee that the top builders in the Ethereum and Cosmos ecosystems receive adequate rewards for propelling growth on the Kava Network.

What is KAVA Token?

The KAVA token is crucial to the security, governance, and operational aspects of the platform. It serves three primary purposes:

  • Security: The top 100 nodes confirm blocks using a bonded stake in KAVA tokens, weighted by value. Validators are incentivized economically by earning KAVA as block rewards and a percentage of the network’s transaction fees. They are also at risk of losing KAVA through rigorous slashing conditions, including failure to maintain high uptime and double signing transactions.
  • Governance: KAVA is utilized for proposing and voting on crucial parameters of the Kava Network, including but not limited to the types of supported assets and Dapps, their debt limits, acceptable assets to use as debt collateral, collateral ratio, fees, and savings rate for various financial instruments added to the network. The KAVA token is also used for voting on proposals that impact the Kava Network SAFU Fund and treasury allocation, such as reward payouts for incentive programs.
  • Incentives: A section of KAVA emissions is allocated as incentives to expand the network. These incentives are provided directly to the leading projects on each chain to promote growth, foster competition, and enhance the vitality of the Kava ecosystem.

What is the current price of KAVA Token?

There are 442,707,214 KAVA coins in circulation, and the maximum supply is not known. The highest price paid for Kava Labs(KAVA) is $9.12, which was recorded on Aug  30, 2021. At the time of writing, KAVA market cap is 502,502,471. The current KAVA token price is $1.13 per coin. The 24-hour trading volume for the coin is $68,149,335.

Where can you buy Kava Labs(KAVA)?

Both centralized and decentralized cryptocurrency exchanges allow trading of KAVA tokens. MEXC Global is the most well-liked marketplace for purchasing and selling KAVA tokens.

How to Buy KAVA Tokens?

You can use the MEXC Global search bar to search for “KAVA” to view available trading pairs.And you can also find a detailed guide on how to buy KAVA token.

KAVA Labs Key Features

Co-Chain Architecture

The primary aspect that distinguishes the Kava Network is its co-chain design, which allows developers to construct and launch their applications using either the EVM or Cosmos SDK execution environments, ensuring seamless compatibility between the two.

The co-chains within the Kava Network function as the two halves of a brain, with the Cosmos Co-Chain tailored to suit developers in the Cosmos ecosystem, and the Ethereum Co-Chain optimized for those within the Ethereum ecosystem. The Translator Module serves as a bridge between the two execution environments of the Co-Chains, ensuring their smooth and efficient collaboration on a large scale.

The Kava Network’s developer-centric Layer-1 architecture facilitates the convergence of the two most widely adopted execution environments in the industry, namely Ethereum and Cosmos, onto a single platform.

The Cosmos Co-Chain:The Cosmos co-chain, operating on the Cosmos SDK blockchain, is both highly scalable and secure, connecting Kava to over 35 chains and the $60B+ Cosmos ecosystem through the IBC protocol.

The Ethereum Co-Chain:The Kava Network provides an execution environment that is compatible with EVM, offering Solidity developers and their decentralized applications (dApps) the opportunity to leverage the scalability and security features of the platform.

Cosmos SDK and Tendermint Core

Utilizing the open-source Cosmos-SDK framework, the Kava Network is constructed to support public Proof-of-Stake blockchains.

On-Chain Incentives

The Kava Network adopts a novel approach to incentivizing developers, whereby a portion of KAVA emissions are distributed directly to protocols in a transparent and open manner, promoting usage and advancing the growth of the Kava ecosystem. After the Kava 10 upgrade and Kava Network mainnet launch, the incentive module will allocate KAVA emissions between both chains, with the top 100 protocols on the Ethereum Co-Chain sharing incentives based on usage metrics and TVL in a pro-rata distribution.

The Kava Network is governed by a fully decentralized autonomous organization (DAO) known as the Kava DAO. Comprising Kava stakers and validators responsible for securing and maintaining the network, the DAO operates on a liquid democracy model, determining network functions, necessary changes, and how on-chain developer incentives are allocated between the two chains. As a completely decentralized entity, the Kava DAO lacks a headquarters, leadership, or a single directive. It is the contributors to the security and stability of the Kava Network who are tasked with providing direction, ensuring that the DAO is self-governing and maintains its standards in accordance with the expectations of the Kava community. This fosters an environment where the Kava Network always prioritizes user interests and those who build on it.