Kava Network Review (9/10⭐)

Kava is a relatively new DeFi platform for crypto assets enabling users to access collateralised loans. The platform was launched in 2018 and has been gaining popularity steadily. Its users include validators and traders who receive rewards from the ecosystem for validating, swapping, borrowing, and lending crypto using its native token, Kava. The gas fees for every transaction depend on the transaction amount and the required access. However, the platform maintains that transactional and transfer fees are optional and are only incurred when a user wants their transaction prioritized.

Briefly about Kava Network

Scott Stuart, Brian Kerr, and Ruaridh O'Donnell co-founded the Kava ecosystem in 2018 and became live in 2020 when BNB still collateralised the USDX. Its development team created it using two permissionless protocols to set it apart from other Defi projects in the market. The platform's architecture is optimized for both the Ethereum and Cosmos ecosystem developers and their DApps such as the Kava Swap and the Kava lend. To ensure the two Co-chains' execution environments work seamlessly, the developers put in place a module translator that allows them to operate together at a high scalability level. The blockchain empowers developers to build for Web3 and next-gen blockchain technologies through its unique co-chain architecture.

Kava Network is a layer that combines Ethereum and Cosmos, while offering DeFi for crypto.CryptoLists.com

Kava blockchain is a decentralized financing platform that is uniquely created by combining two protocols, Cosmos & Ethereum. The network uses the flexibility and speed of the Ethereum crypto contract and the interoperability feature of the Cosmos SDK where users can collateralise their crypto assets for USDX. The USDX is KAVA's stablecoin and the Cosmos's interoperability feature allows users to add numerous tokens for lending and borrowing purposes. Whenever users participate by depositing crypto to aid the borrowing and lending system, the platform pays them in KAVA, the network's native token. KAVA utilises the dual token strategy for every user to derive optimal flexibility and usability.

Utility of Kava Network?

KAVA is a DeFi platform for crypto assets and users utilise it in accessing collateralised loans and stablecoins for major crypto assets. Developers utilise the Kava network to create their dApps which are incentivized by the blockchain's KAVA emissions to boost their usage and the growth of the ecosystem. Validators and traders use the platform to validate blocks and to avail tokens that can be used in the borrowing and lending system. Users are usually awarded using KAVA tokens which are partially from the transactional charges earned.

Advantages at Kava Network

Disadvantages

Costs

KAVA has transactional transfers as an option. The platform applies the charges when a user wants a transaction prioritized or when the network becomes busy. However, all transactions on the blockchains incur a gas fee. The amount charged is usually proportional to the size of the transaction and the kind of access the transaction requires. Large and complex transactions, therefore, need an additional amount of the standard value.

Reputation and Buzz

Kava Network boasts of having a high scalability level, interoperability, and cross-chain operations. This is because it has an architecture of two protocols, Cosmos and Ethereum, which have Inter-blockchain communication protocols and flexibility. The chain also boasts of being its fiat to Defi gateway so users don't have to convert their crypto to fiat when transacting.

The chain has positive feedback from Twitter users who praise its constant growth rate and increase in APY. Kava's co-founder also took the opportunity to boast of its numerous protocols and incentive programs which make it a better platform for developers.

FAQ

Who created Kava Blockchain?

Kava network is a creation of Kava Labs which is co-founded by Brian Kerr (the current CEO), Ruaridh O'Donnell, and Scott Stuart.

When was Kava launched?

The platform was developed in 2018 by Kava Labs. However, it took until 2019 before they mentioned more in-depth details about the blockchain.

Is Kava Blockchain proof of stake?

Yes, the network is a proof of stake since it uses a consensus mechanism to validate a transaction and produce a new block. The Tendermint Core consensus engine allocates a minimum of 4 validators with no upper limit to transactions to ensure the settlements are done quickly.

Will Kava Blockchain overtake Ethereum?

Kava is a new project in the crypto-verse. Its latest performance and unique scalability and multi co- chains feature to give it a promising long-term endeavor. However, if Kava is to overtake Ethereum in the future, the chain will need to have constant growth and a unique product that gives it an edge against Ethereum which is an already established competitor.

How is the KAVA governance?

The KAVA DAO is fully decentralised in governing the KAVA network. KAVA stakers and validators are securing and running the network hence vote on proposals affecting the KAVA network. Some include smart contract modifications, adjusting the global debt limit, and adding and removing collateral assets.

History about Kava Network

Jan, 2018 - Kava is enabling the future of payments, was the message on their first official website. High speed, transparency, low cost and accessibility was promised. No blockchain or bridges were mentioned.

March, 2019 - Kava Network promote their interledger. It's created for blockchain networks, wallet providers and crypto exchanges.

9th of January (2020) - Kava was re-launched as "DeFi for crypto - Leverage assets with Kava's cross-chain CDP platform". The Kava platform was powered by Cosmos, but Ethereum was not mentioned at all.

Screenshots from Kava Network