JPMorgan’s DLT Spinoff Kadena Debuts The First Hybrid Blockchain, Adds Cosmos Network to Wallet
Kadena, a crypto startup which is a spinoff of JPMorgan’s blockchain center has rolled on its own public blockchain which marks what they termed as the first hybrid blockchain in the industry, Cointelegraph reports.
The public blockchain was released on Jan. 15 and comprises of full transactions as well as the capacity to fully write smart contracts. According to the company’s CEO Will Martino, the new product is also the inaugural sharded proof-of-work (POW) Layer 1 to hit the market.
Kadena’s hybrid blockchain network also allows the linkage between a private network with a public chain.Stuart Popejoy Kadena’s president stated that the development was an imperative milestone in enhancing blockchain capacities since the technology is marred with different limitations although it harbors great potential. Popejoy explained,
“Despite blockchain having immense potential, our experience building JP Morgan’s first blockchain showed us its limitations. Launching a fully functional hybrid blockchain which seamlessly integrates a public chain with a private network is a significant step forward in reimagining what applications can do on-chain.”
The new Kadena hybrid blockchain interoperates with Pact, a smart contract language developed by the firm. Martino also explained that Pact will be used to tackle the security concerns within the Ethereum blockchain.
The firm also announced that the Kadena Hybrid blockchain also has Kadena Kuro which was previously referred to as ScalableBFT which was rolled on Amazon Web Services last year in January.
In a tweet the firm announced that Kadena hybrid blockchain has the capability to process 750 transactions within a second. This is compared to both Bitcoin and Ether which can only process 7 and 15 transactions in every second respectively.
Today is the launch of Kadena's #hybrid blockchain platform with #Pact smart contract transactions. Over 2 million blocks have already been mined on the first sharded Proof of Work Layer 1 public chain.
— Kadena (@kadena_io) January 15, 2020
As per Martino, the completion of Kadena hybrid blockchain has helped to address the issues associated with core scaling while at the same time maintaining decentralization. He said,
“If we had launched with 1000 chains, people wouldn’t be able to visually grasp the magnitude of the innovation that Kadena is bringing to market. We’ll be upgrading to a larger network for more scale in Q2, likely 100 chains, but for now, 10 chains provide and illustrate our unique value.”