Brooklyn-based spinoff Kadena has launched a hybrid blockchain that can scale horizontally, enabling multiple electronic ledgers to talk to each other via smart contracts – and letting users transfer cryptocurrency between the chains.

Hybrid blockchains combine permissioned chains for businesses to transact in the background while connecting to a public blockchain (via an API) for consumers and others to make money transfers or access information about products moving across supply chains.

“Their hybrid blockchain model looks interesting, mainly because it enables interoperability via smart contracts that run on public chains and talk to/with private chains,” said Avivah Litan, a vice president of research at Gartner. “That way, enterprises can keep their private data and transactions limited to the private chain but benefit from the liquidity and cross-chain access available by leveraging smart contracts running on the public chain.”

kadena blockchain Kadena

Kadina’s Chainweb architecture depicted in a graphic.

Kadena is being piloted for interoperability, scalability and increased security across industries, including financehealthcare and insurance, according to Kadena co-founder and CEO Will Martino. For example, Rymedi, a North Carolina medical technology firm, plans to test the platform this year as part of an FDA-backed pilot of prescription drug tracking via a blockchain supply chain.

Kadena is the first startup to come out of JP Morgan’s Blockchain Center for Excellence, a development project started in 2018. Last year, JP Morgan announced it had created its own cash-backed cryptocurrency called JPM Coin, which it plans to pilot with institutional clients for international funds transfers.

Kadena’s Chainweb platform also relies on sharding to increase transactional throughput by creating multiple proof-of-work consensus-based partitions on its blockchain ledger through which multiple parallel chains can operate.

Copyright © 2020 IDG Communications, Inc.



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