Kadena Is Not Dead, Latest Revival Plan Unveiled - Coinspeaker

Key Notes

• The Kadena organization announced the closure of its operation recently, sparking concerns.
• Web3 executive Daniel Keller says he is assisting the Community Takeover Team for Kadena.
• Upon its return, Kadena may welcome new features.

Much to the relief of many, Kadena organization, the company behind decentralized blockchain Kadena may soon be coming back into operation. In a X post, Daniel Keller announced that he is one of those assisting with the new Community Takeover Team (CTO) for the protocol. This confirms that there is a revival plan for the blockchain

Kadena’s Community Takeover Team Gets to Work

A few weeks ago, the company behind the Kadena blockchain announced that it was shutting down operations. According to the announcement on X, it “is no longer able to continue business operations and will be ceasing all business activity and active maintenance of the Kadena blockchain immediately.”

Nevertheless, web3 enthusiast Daniel Keller hinted that the story is not over yet. He highlighted that some new features will be added to the protocol with this major comeback

The team intends to make several changes in a bid to build the next version of Kadena.

Apparently, private investment firm InFlux Technologies Limited, has been contacted to collaborate with the team on the restructuring exercise. Its focus will be on legal, foundation and support on all platforms. Also, all wallets and FusionExchange will support them moving forward, Keller pointed out.

Related article: Standard Chartered CEO: All Global Transactions Will Move to BlockchainAs part of their deal, Flux I Decentralized Cloud would lay the foundational groundwork for depin. Ultimately, the goal is to “see KDA in FluxCore as well, true PoUW and usecase for the chain,” the crypto enthusiast emphasized

Rebranding Exercises Across the Crypto Space

In the same spirit of rebrand, Omni Labs officially announced in September that it is switching to Nomina, an Ethereum-native Layer 1 interoperability protocol

The goal is to simplify the fragmented Ethereum rollup landscape, enabling seamless interaction with dApps and assets across multiple chains

At the time, the news caused Omni Network

OMNI $1.77

24h volatility: 2.4%

Market cap: $87.24 M

Vol. 24h: $64.58 K

price to post 6% daily gain. With the rebrand of Omni Labs to Nomina and migration of the tokens, 1 OMNI is equivalent to 75 NOM.

Similarly, Backpack Exchange has finally launched Backpack EU as a rebrand of FTX EU. For a start, private beta access was opened for only 100 slots per day as the exchange fought to regain users trust.

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