Hybrid blockchain project Kadena that aims to transform the way people share, store and unlock value is all set for its grand launch on 15th January 2020.
Jointly formed by the two JP Morgan’s blockchain group leads, Stuart Popejoy and Will Martino, the Kadena blockchain combines the best of public and permissioned blockchain to create an efficient, secure and seamless digital marketplace experience. The blockchain also boasts of user-friendly and straightforward smart contract language called Pact.
Kadena hybrid blockchain – Bridging the gap between public and private blockchain
The project sparked many interests when it started out in 2016. With capital injection from several prominent venture capital firms, including Asimov Ventures and SV Angel, it managed to raise fifteen million US dollars ($15 million). Following rigorous research and development activities that spanned over three long years, the project is finally ready to jump the gun and solve the long, troubling issues with Bitcoin scalability.
To put it in simple terms, Kadena hybrid blockchain will bring together the benefits offered by a public blockchain, which include better accessibility and liquidity and those offered by a permissioned blockchain, which is enhanced security and anonymity.
All set for Jan 2020 launch
As reported by Finance Magnates today, the hybrid blockchain will seamlessly facilitate around seven hundred and fifty transactions every second, as opposed to Bitcoin’s seven transactions per second and Ethereum’s fifteen. Moreover, the blockchain will efficiently reconcile with the existing public and private platforms, and its ingenious braided framework will enable easy and efficient mining of its native currency, the announcement noted.
Meanwhile, the investment banking giant JP Morgan has embraced blockchain wholeheartedly. Although it still assumes a hostile stance over blockchain’s pet project Bitcoin, the Wall Street behemoth did delve into a fully-controlled private digital currency, JPM Coin, last year. It also rolled out an extensive peer-to-peer network platform, based on its native blockchain Quorum, and managed to get over three hundred and sixty global banks onboard.
Featured Image by Pixabay
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