Blockchain Firm Kadena Completes Hybrid Blockchain Scaling To 480,000 Transactions Per Second On 20 ChainsAugust 20, 2020
Blockchain firm Kadena has announced that its scalable layer-1 public blockchain has increased from 10 to 20 chains, becoming the fastest blockchain platform in the world.
Kadena, a blockchain technology company founded by former JPMorgan and SEC technologists, is developing blockchain platforms for businesses and entrepreneurs by solving the speed, scalability, and security concerns that impede widespread blockchain adoption and offering simple solutions and tools for developing on a blockchain. The company claims that its platform is already being used by several Fortune 500 companies to improve operational efficiencies and data management in the sectors of healthcare and commercial insurance.
Towards the end of 2019, Kadena underwent a rigorous pro-level Wall Street quantitative analysis to prove its scalability and security. According to independently verified third party research conducted by Gauntlet Networks, Kadena is the first and only project to successfully scale Proof of Work securely. Following the launch of their sharded Proof of Work layer-1 network earlier this year, Kadena has completed the most significant upgrade of the platform to date, expanding from 10 to 20 braided chains on mainnet. The increase in chains brings a doubling of throughput, already unmatched among Proof-of-Work blockchain networks. With 20 chains, the Kadena hybrid blockchain platform achieves an industry-leading 480,000 transactions per second.
“In an industry first, Kadena has shown to use the same amount of energy at 10 chains as with 20 chains due to its unique Chainweb protocol,” Kadena said. “Growing the shard count from 10 to 20 chains not only doubles the current throughput; it also proves the feasibility of Kadena’s blockchain to scale to 100, 1,000, and an ever-increasing number of chains on the public network.”
Kadena Co-Founder and CEO Will Martino said that they created Kadena to fix the fundamental scaling problem with Bitcoin, which has been a barrier to mainstream adoption.
“Launching Kadena, and now expanding to 20 chains, proves that we can scale a layer-1 blockchain to the point where digital assets can go mainstream,” said Martino. “Growing from 10 to 20 chains means that the infrastructure now exists to service the needs of the digital economy. Kadena has solved the previously long-standing problem of how to securely scale a public blockchain — we’re the only project that has been able to do it.”
The company also announced the availability of Kadena Kuro, the platform’s next-generation private blockchain. It is now available completely free of charge and has been designated as a fully open-sourced project. Previously, Kuro Community Editions could be trialed on AWS Marketplace and Microsoft Azure with some limitations. Due to the increased developer demand for their smart contract language, Pact, as evidenced by collaborations with Polkadot and Cosmos, Kadena is making Kuro accessible to as many organizations as possible.
“With the open-sourcing of Kuro, our high-performance permissioned blockchain, smart contract developers working in Pact can now effortlessly leverage our hybrid platform to scale to unmatched transactional performance and throughput. We’re giving blockchain engineers the freedom to customize their architecture to achieve their specific requirements,” said Kadena Co-Founder and President Stuart Popejoy. “With Kuro, developers can take a hub-and-spoke approach, where Kuro nodes service the public chains uniformly. However, the unique nature of Chainweb also allows an extremely high-throughput multi-cluster of Kuro nodes to service individual public chains, an entirely new architecture in blockchain that greatly magnifies the throughput of our sharded base layer.”
Popejoy added that the Kadena hybrid blockchain platform allows developers to pick and choose methodologies for inter-chain communication, thanks to the flexibility of Pact. dApps can run with entirely trustless bridges, with two-way verification of consensus proofs.
“Pact multisig offers effortless authorization that leverages HSMs and modern standards like OAuth/PKCS-12 to enforce security protocols, avoiding expensive on-chain verifications,” Popejoy said. “The Kadena hybrid platform offers real-world throughput and performance as well as best-in-class cross-chain security, all without tying developers to a particular approach.”
Additionally, Kadena announced their next major upgrade for 50 braided chains working in parallel. Expected throughput will exceed 1 million transactions per second. The company also plans to announce a licensed cryptocurrency exchange for officially trading the KDA coin in the US before the end of the year. Kadena (KDA) was identified earlier this year as one of several cryptocurrencies under consideration by Coinbase and other leading exchanges.
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