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JPMorgan’s DLT Spin-off Completes Industry’s First Hybrid Blockchain

JPMorgan’s DLT Spin-off Completes Industry’s First Hybrid Blockchain

JP Morgan’s blockchain spin-off Kadena has fully launched its public blockchain on January 15, making it the ‘Industry’s First Hybrid Blockchain Platform’. Kadena is a public chain primarily built for smart contracts. The features include full transactions and the ability to write smart contracts.

This public chain aims to be scalable and offer proof-of-work alternatives to secure the network as a whole. It is the first sharded (sharding) Proof-of-Work Layer 1 network to offer in the market.

“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.”

Kadena’s co-founder and president Stuart Popejoy

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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Additionally, Kadena’s hybrid blockchain supports interoperability using Pact, the firm’s open-source smart contract programing language. Reportedly, this hybrid blockchain can process 750 transactions per second, while Bitcoin and Ether are capable of processing only 7 and 15 transactions per second, respectively.

As per a report, all of the services should be fully up and running by late March 2020.

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