New Kadena Accounts Protocol
by Kamil S
CoinMetro is working closely with the Kadena team and is powered up to support deposits and withdrawals utilizing their new protocol, k: accounts. Not to mention many other initiatives, some of which will be detailed later in this blog.
What are k: accounts?
Good question. Kadena noticed some “bad actors” had determined a way to hijack the accounts of other people who assumed their account name was valid for all 20 chains. The offenders searched for account names used on only one chain and reserved those same names on other chains with their own key controlling them.
The issue being if a person sent assets to the other chains believing their account name was applicable for all; they would lose their deposit because the account name would be controlled by someone else.
How do I get a k: account?
Simple. Insert a “k:” before your public key. For example, if your public key is “8ff29d…”, your protected k: account would be “k:8ff29d….” If you wish to use the k: protocol and currently have accounts on multiple chains, you’ll need to revise your key on each chain. You can place k: in front of your existing key or replace it entirely.
Make sure it’s secure!
Okay, you’ve successfully created your k: account. What’s next? Make sure you control the account by sending only a small test amount to an exchanges, dex or wallet provider you normally do business with, it may be unclear if they all yet support this address format, hopefully they offer some customer support or have a some content about their KDA wallet integration. Also, it may be better to use your original address when interacting with some centralized services. However, there’s one place where you can be sure the k: account protocol is maintained…
CoinMetro + Kadena Collaboration
We are the only exchange currently offering Kadena’s k: accounts. Why? Because we care about our partners but more important, we care about each of our investors.
CoinMetro is the first to offer k:accounts because we value your account, your individual funds and this is yet another way to ensure safety. If we can save one investor from losing any funds, then k:accounts will pay for themselves.
We won’t stop bringing you joint programs like k: accounts and here are some of the initiatives past, present and future:
- KDA Staking & Bonding
- Complete Wallet Integration
- All Kadena chains supported
- Free KDA Deposits & Withdrawals
- Buy KDA with EUR & USD
- Swap KDA with any crypto
- …Wrapped KDA Coming Soon!
CoinMetro will still have KDA but also Wrapped KDA to take further advantage of the many opportunities in Defi. More details to come.
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