The first company to be formed out of JP Morgan’s Blockchain Center for Excellence, Kadena has confirmed the full launch of its public blockchain.
The launch builds on the start of genesis mining, which took place in October last year and has seen Kadena surpass having two million blocks mined at hash rates as high as 40 TH/S.
Founder and President Stuart Popejoy commented: “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.”
It includes full transactions and the ability to write smart contracts. The latest functionalities of the network complete Kadena’s hybrid blockchain platform.
In spite of only being in its infancy, Kadena is already delivering interoperability, scalability, and security across industries including finance, healthcare, and insurance.
The hybrid blockchain supports interoperability using Pact, Kadena’s open-source, Turing-incomplete smart contract language with Formal Verification.
Kadena’s public blockchain functions through a braided, parallelized Proof of Work consensus mechanism, the only protocol that has been validated in the market. The architecture enhances throughput and scalability while preserving the reliability of Bitcoin.
Kadena Kuro, the platform’s next-generation private blockchain, overcomes the challenges of security, scalability, and speed found in existing blockchains such as Ethereum.
Founder and CEO Will Martino added: “We’ve solved the scaling challenges of Bitcoin with parallel Proof of Work chains while addressing the security issues of Ethereum with Pact.
“Today’s launch of our public blockchain with smart contract transactions, which completes our hybrid platform, advances mainstream adoption. We’re excited to see how Kadena’s blockchain will empower entrepreneurs and enterprises to bring in Economics 2.0.”