Kadena, both a public and permissioned blockchain platform, announced last week the full launch of its public blockchain. Kadena claimed that its public blockchain is first to market as a sharded Proof of Work Layer 1 network.
“Following the start of genesis mining in October 2019, Kadena has surpassed having two million blocks mined at hash rates as high as 40 TH/s. Today’s launch includes full transactions and the ability to write smart contracts. The latest functionalities of the network complete Kadena’s hybrid blockchain platform. Kadena is already delivering interoperability, scalability, and security across industries including finance, healthcare, and insurance.”
Kadena then revealed the hybrid blockchain supports interoperability using Pact, Kadena’s open-source, Turing-incomplete smart contract language with Formal Verification. Founder and President of Kadena, Stuart Popejoy, stated:
“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.”
Founder and CEO Kadena, 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.”
Founded in 2016, Kadena notably delivers the next generation of blockchain platforms for businesses and entrepreneurs by solving the scalability & security concerns that impede widespread blockchain adoption. The platform offers tools for developing on a blockchain, including a purpose-built smart contract language, Pact; the first high-performance, BFT-consensus, private distributed ledger protocol; and Chainweb, a fundamental breakthrough in proof of work scaling for a public blockchain.