Founded in mid-2016 by previous leads at JPMorgan’s Blockchain Center, Will Martino and Stuart Popejoy, the Kadena Blockchain was launched on January 15, introducing its unique hybrid network that offers the best of both public chains and private networks by combining both, rather than choosing to optimize just one aspect.
“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,” said Popejoy, as quoted from a CoinTelegraph report.
Kadena’s strength lies in ‘enterprise blockchain’, and aims to build software to answer the challenges that large enterprises face. For example, in the application of blockchain networks, companies have long been hindered by concerns of possible security breaches and the limitations of the network to handle a large amount of data and transaction records due to its decentralized nature.
“If a blockchain platform can serve the scalability and security needs of large enterprises while also allowing for designated transactions to occur in an open and public environment, users get the best of both worlds,” Kadena’s previous statement in March 2019 reads.
Ultimately, in this quest for hybridity in blockchain networks, Kadena first developed PACT, a smart contract language which can be used in the place of Proof-of-Work chains, in 2017. Using PACT as a foundation upon which Kadena’s new blockchain system functions on, Kadena is offering enterprises the solution to its scalability challenge by boasting a speed of 750 transactions per second, with Bitcoin processing at 7 transactions per second, and Ether at 15 transactions per second. Currently, Kadena’s hybrid blockchain platform is operating with 10 chains, with an expected increase to 100 chains in mid-2020.
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