Kadena launches Chainweb, a hybrid platform to connect public, private blockchains
Brooklyn-based startup Kadena has launched a hybrid blockchain that can scale horizontally, enabling multiple electronic ledgers to talk to each other via smart contracts – and letting users transfer cryptocurrency between the chains.
Hybrid blockchains combine permissioned chains for businesses to transact in the background while connecting to a public blockchain (via an API) for consumers and others to make money transfers or access information about products moving across supply chains.
“Their hybrid blockchain model looks interesting, mainly because it enables interoperability via smart contracts that run on public chains and talk to/with private chains,” said Avivah Litan, a vice president of research at Gartner. “That way, enterprises can keep their private data and transactions limited to the private chain but benefit from the liquidity and cross-chain access available by leveraging smart contracts running on the public chain.”