Kadena Blockchain Set for January Launch 

The blockchain sector received some exciting news this week, after JP Morgan's blockchain wing, Kadena announced an official January launch date. Kadena brings together a plethora of technologies within the sector with the goal to streamline the entire investment process. The news demonstrates a growing demand for hybrid blockchain platforms, as well as, JP Morgan's official pivot towards these technologies. 

News of the January release first broke via a Finance Magnates article in which developers gave some insight into the project and its capabilities. Importantly, Kadena is a hybrid blockchain platform. The primary purpose of the concept is to help bridge between public and private blockchains. This strategy is important to traditional financial firms because it allows them to better control the flow of information surrounding on-chain transactions. 

Basically, Kadena allows developers to share private data with only specific users. At the same time, the platform enables the firm to keep the records of the actual blockchain transactions public. In this way, traditional financial institutions such as JP Morgan can take advantage of the increased efficiency blockchain technology provides without fear of compromised client information. 

Discussing the motivation behind the project, developers spoke on the need for a solution that possesses speed, scalability, and improved security. Kadena accomplishes these tasks and provides added functionality to users. For example, Kadena's blockchain can process 750 transactions per second. Opposingly, Bitcoin is only able to handle around 7 transactions per second.  

Chainweb 

The Kadena project has been in the works for over a year now. Originally, the concept went by the name Chainweb. The official launch of the Chainweb Beta testing phase started in November 2019. These tests proved the concepts multi-chain capabilities and eventually, the project's name was changed to Kadena. 

Kadena via Website

ScalableBFT  

In addition to the public blockchain, Kadena developers created a private chain. This private blockchain goes by the name Kadena Kuro and it is meant to keep sensitive data away from prying eyes. Notably, this blockchain was known as ScalableBFT until developers decided to bring the name in line with the project's overall marketing. 

Improved Mining 

As part of the developer‘s goals to create a more sustainable blockchain environment, an improved mining experience was needed. Developers utilized the platform's innovative braided architecture to simplify the entire mining process. Today, KDA tokens are easier to mine than traditional Proof-of-Work tokens such as Bitcoin. 

Chainweaver 

Another part of the Kadena token ecosystem is the Smart Contract wallet Chainweaver. This open-source desktop application allows users to send, receive, and store KDA tokens with ease. Importantly, Chainweaver is the official wallet of the Kadena platform. 

Kadena in the News 

Kadena is no stranger to headlines as of late. The firm received considerable coverage after it raised $12 million in funding. The funds came via a Simple Agreement for Future Tokens (SAFT) which the company hosted back in April 2018. Various established investment firms participated in the event. Most notably, Devonshire Investments, the private equity firm affiliated with FMR LLC, the parent company of Fidelity Investments participated. 

Kadena Development Continues 

Kadena's unique approach to the market puts it in a category all by itself. Hybrid blockchains are still new to the industry. Analysts see these multi-use blockchains as a critical step towards large scale adoption in the crypto sector. For now, Kadena is set to launch in just days.