Crypto

JPMorgan Spinoff Launches its own Hybrid Blockchain for Smart Contracts

Kadena is one of the JPMorgan spinoffs focusing on blockchain technology. The company unveiled its public chain earlier this week, and launched a wallet service to boot.

Kadena is a public chain primarily built for smart contracts.

Kadena is a Public Blockchain After all 

These contracts will be interoperable between its public chain and private chain aspects.

It is evident that big banks are also betting big on blockchain infrastructure for a wide variety of use cases.

This chain aims to be scalable and offer proof-of-work alternatives to secure the network as a whole.

This new ecosystem also consists of a wallet known as Chainweaver.

That wallet is now integrated with the Cosmos Network, allowing for interoperability between different distributed ledger systems.

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When everything is said and done, all of the services should be fully up and running by late March 2020. 

It is rather interesting to see this chain being public, as that is not what most people expected.

Even so, it has its own smart contact language, known as Pact.

This will allow third parties to develop services and products on the ecosystem in the future.

The hybrid DLT model will process 750 transactions per second, albeit the exact numbers might be slightly different.

More competition in this space is never a bad thing, albeit it remains to be seen how well Kadena’s system works.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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