3 key concepts to more safely manage KDA¶
1. Account name & keys can be different¶
With most blockchains, accounts are modeled as simply public/private keypairs (ie. your account name is the same as your public key). This “one-to-one” model keeps things simple, but runs into problems when you want to use multiple keys for a single account, such as with jointly-owned or majority-ruled accounts.
Kadena natively supports multiple keys governing the same account name, and thus the distinction between “keys” and “account name” becomes important.
In simple terms, “account name” refers to your unique name on the blockchain, and “keys” refers to the public/private keypairs that grant access to your account. In other words, it is the keys that determine ownership of an account.
Some Kadena account examples:
Unnamed account — account name is the same as a single public key
|Account Name||Public Key ("Keyset")|
|- 961fd95b190aeb38850754fee81b42486d 140e44ee78f8f2d9e25ab69c3053b6||- 961fd95b190aeb38850754fee81b42486d 140e44ee78f8f2d9e25ab69c3053b6|
Named account — account name is some memorable user-defined string
|Account Name||Public Key ("Keyset")|
|- alice||- 961fd95b190aeb38850754fee81b42486d 140e44ee78f8f2d9e25ab69c3053b6|
Multi-signature account — a single account is governed by multiple keys
|Account Name||Public Keys ("Keyset")|
|- BoardOfDirectors||- 961fd95b190aeb38850754fee81b42486d 140e44ee78f8f2d9e25ab69c3053b6
- c1cb44cf2327213b29729d1e5f4b70d812 0bc3ab1cbddc60633909324464e6ef
- 7731d6a6a772dcbf2cd0c8ca5649f902af fd6ed29622738810aa38ef8b307ca7
All Kadena accounts are comprised of 3 parts:
- Account name
“Predicate” is something that determines how many signatures are required to transfer coins from the account. The three built-in predicate options are
keys-2. Most KDA holders will never see, or even know about, their account’s predicate because they will have a traditional single-key account wherein
keys-any do the same thing. However, the predicate becomes more important with multi-signature accounts. For example, the
keys-2 predicate requires that at least 2 keys in the account must sign in order to authorize a transaction.
If you would like to learn more about keys and accounts in Kadena, check out this article.
2. Kadena is a multi-chain network¶
Kadena’s major breakthrough is that it has solved scalability in Proof of Work blockchains. To achieve this, Kadena has braided together multiple Bitcoin-like chains. This means that Kadena is not just a single blockchain, but rather it is comprised of several interconnected blockchains. Therefore, we say Kadena is a multi-chain network. To visualize how this works, check out this 3-minute video.
For users, this means that any account you create will only exist on that chain. If you would like to own a particular account name across all chains then you must be the first person to create that account on each chain.
Important: The account name alone does not determine ownership. The keyset associated with an account determines ownership. You could own account
alice on chain ID 0, and someone else could own account
alice on chain ID 5.
The key takeaway is that you should pay attention to the chain on which you are transacting.
3. Transfers can be done on the same chain or across two different Kadena chains¶
As the title suggests, there are 2 main ways to move KDA; on the same chain or across chains.
The key takeaway here is related to gas—the small fee that users pay in order to have their transactions included in a block.
- With same-chain transfers the sender must pay some gas
- With cross-chain transfers, the sender and the recipient must pay some gas
Cross-chain transfers interact with two different blockchains, so sending KDA from one chain to another requires two separate transactions, one on each chain.
The good news is that cross-chain transfers sent to a recipient with no funds are not necessarily lost forever, they are just incomplete transfers. Anyone with funds on the destination chain can help to pay the required gas, allowing the transfer to finish as intended. Further, Kadena has set-up gas stations which will cover the cost of gas on the destination chain. One such gas station can be accessed at this page which provides an interface for finishing cross-chain transfers.
If you would like to learn more about transfers in Kadena, check out this article.