How Is Kadena Fulfilling Hybrid Blockchain Vision?
The latest from blockchain is the hybrid version. What are the underlying technological improvements for it? This article helps you know more.
Kadena Comes As A Hybrid Version
The blockchain startupKadena for the past few years has been working on a vision that is to bring blockchain to the enterprise announcing the final piece of the vision that comes with the launch of what is the Kadena public blockchain. Earlier it had offered the ability to thereby build private blockchains on AWS or Azure as the company co-founder and CEO Martino comments that the public network was set to bring together for the first time public and private chains in a hybrid vision. As he explains it is the big exciting thing as the public chain is out, smart contracts are about to turn on allowing them to go and hit the market as what they are calling these hybrid applications. In this case, these applications are those that run both on a private blockchain whereas having public smart contracts allowing people on the public side to interact with the private chain.
The fact is that smart contracts come to be a set of rules that has to be met and validated for both private and public chains to interact where the only valid actors as well as actions are defined in the smart contract allowing movement between the two chains.
Overcoming The Scaling Issues
Scaling it to meet the needs of enterprise users is one of the major challenges with building a chain like that as Martino says his company solved the problem and comes to scale from the 10 chains today to 10,000 or more which is the future as the company grows. Thereafter he believes that it is the only company with a tractable roadmap that is capable of achieving this.
Thereby Martino explains it helps push companies that have thereby been dabbling in the blockchain technology as in the last couple of years they have seemed wanting to take a bigger leap. According to him, it is a watershed moment for enterprise as thereafter they have never had a platform known as it's going to have the throughput needed in case the product deployed on the blockchain with legs and starts to take off. Accordingly, Martino claims that this blockchain has that.
Developing an open-source smart contract language called Pact Kadena is explained by Martino saying it allows a lawyer with Excel-level programming understanding to write these contracts and thereby placing them on the chain. Further on he says as there are a lot of lawyers good with Excel, they can hand the smart contracts to a lawyer having them review them for compliance as the crazy idea thinking its fundamental as when you are representing core business workflows, they are sensitive needing to be certain they are compliant.
The Attitude Is ‘Show Me The Money’
Making all the basic pieces available for free, the company includes the private chain development tools on AWS and Azure as the public chain came along with the Pact smart contract language. Commenting on it Martino says there are quite a few ways for the business to make money as for starters the building partnerships are where it helps companies in various sectors from financial services to insurance and healthcare building viable hybrid applications on the Kadena blockchain as well as making money when Kadena does.
Further on it is secondly viewed that they control a bushel of the tokens on the public network having value as well as vision coming to fruition having much more over time being able to sell some of the tokens on the public market, right now he says is between 20 cents and a dollar expecting that to increase as the network becomes more viable.
As it comes to be losing some of its luster the blockchain has then moved through the enterprise hype cycle as Kadena if succeeds in building a fully decentralized scalable blockchain helping push the technology deeper into the enterprise. If in case Kadena is then successful, it is sure to be the success of the millennium, adding to the blockchain even more importance. The investors are sure to have a breakthrough with their investments.
Final Words To End The Discussion For Now
This does not call for an end to cryptocurrency investment. The future is bright and it is indeed right to see them in the light of the secure monetary transactions and investments. Hence blockchain keeps evolving and we are sure there will be more to expect from developers across the globe. As for now, it is enough to enjoy the ease and security that the current technology promises.