The Pandora's Box has been opened, and Facebook's Libra reveals a question – what are we talking about when we talk about blockchain and decentralization? Web 3, open finance, borderless currency, DApp, public chain, alliance chain…….?
As technology applications become more widespread, blockchain technology will have different meanings in different eyes. In the past we put most of our attention on the public chain, but Kadena co-founder Stuart Popejoy said: The world still needs a coalition chain, from government to insurance, companies need the right tools to solve security and scalability problems.
What is Kadena?
The Kadena team believes that different solutions should be proposed for different needs. The existing market's public chain is not suitable for enterprise users. The alliance chain market is broad. Blockchain technology can be applied to countless small and medium-sized enterprises to provide them with lower cost. solution.
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Kadena has both a public chain and a coalition chain solution. Kadena's alliance chain can be integrated with the public chain network to become a part of it, creating new market use cases.
Kadena public chain
The Kadena team believes that the PoS consensus has advantages in terms of throughput and end-of-line, but the entire PoS system may tend to be centralized. Kadena has improved the existing PoW consensus and proposed "Chainweb" with parallel PoW architecture, which combines hundreds of parallel chains of independently running PoW consensus into a single network, enabling transaction throughput of more than 10,000 transactions per second. the amount.
The asset transfer between the parallel chains can be done by the SPV on the chain (it does not need to download all the data of the new block, only need to save the data of the block header, which is stored in the Merkel tree) smart contract. At the same time, the parallel chains in Chainweb also refer to each other's Merck trees, which greatly reduces the possibility of successful attacks.
Chainweb uses the Merkle roots to share information to achieve cross-chain consensus, connecting multiple parallel chains to share the computational load. For example, when a parallel chain of encrypted cat DApp transactions are crowded, you can set up an account on another uncongested chain and transfer tokens through the SPV on the chain to help process the transaction.
According to Kadena's test data, in addition to significantly improving throughput, Chainweb has significantly improved security and greatly reduced the depth of transaction confirmation.
Kadena Alliance Chain
The Kadena core team has been deeply involved in the system development of the JPMorgan blockchain and the US Securities and Exchange Commission . They have gained a wealth of experience, understand the current challenges of the alliance chain in terms of scalability and security, and clearly understand the alliance. The stringent requirements and business processes of the $100 million order for the chain have resulted in their own alliance chain solution.
Kadena's alliance chain uses the BFT Consensus Agreement and has the following characteristics:
- Can be integrated with public chain networks
- Formal verification automatically checks for errors
- Provide support for native data service APIs
- Kadena can support up to 8,000 transactions per second
- Supports high-speed operation of 500 nodes without degrading performance
- Smart Contract Code Visualization: Kadena uses a specially designed smart contract language Pact to focus on visualization and code to read directly
- Contracts can be flexibly upgraded and managed to meet changing business needs
Kadena Alliance Chain vs. R3, Quorum, Hyperledger
These features enable Kadena's alliance chain participants to collaborate securely in a business environment that does not require absolute trust in each other, enabling companies in the same industry to form an alliance to share sensitive data in a way that is beneficial to each business. And to ensure the tamper modification of the books.
In January 2018, Kadena announced the completion of the $2.25 million Pre-A round of financing, involving prominent institutions such as MetaStable, CoinFund, and Multicoin Capital.
Three months later, it received a $12 million Series A financing from Fidelity Investments' private equity investment firm Devonshire Investors and SV Angel.
The Kadena Alliance Chain achieved 8,000 TPS in 256-node testing and was delayed to less than 100ms. It has been adopted by several Fortune 500 companies to provide operational and data management for the medical and commercial insurance industries. Chainweb is currently undergoing testing and is expected to launch the main network on December 6.
At present, Kadena's public chain platform has been registered on the CoinList on the token financing platform on October 30. The token sales will start on November 4th and continue until November 22.
Kadena more information
- Official website: https://kadena.io/
- White paper: https://kadena.io/en/whitepapers/
- Blog: https://medium.com/kadena-io/
- Github: https://github.com/kadena-io/
- Twitter: https://twitter.com/kadena_io
Zhen Ben Cong Reviews
Multicoin specifically mentioned in the blog that Kadena believes that "smart contracts must be human-readable", which is very interesting. The Pact smart contract language of Kadena's specialized community hopes to achieve: visualization, formal verification, etc., the team is in the relevant field. Work experience can help them make progress on the alliance chain.
However, in terms of the public chain, the use of the PoW consensus mechanism requires a lot of computing power and financial support. The early cold start of a PoW public chain is still difficult. Chainweb claims to link hundreds of PoW public links, which will be very difficult.
Let's take a look at how far the Kadena team's "chain + alliance chain" ecology can go.