New blockchain startup, announced that it will be able to solve the problem of scalability and has already raised $ 2.25 million in first round funding

New blockchain startup, announced that it will be able to solve the problem of scalability and has already raised $ 2.25 million in first round funding

Kadena startup working in the field smartcontract attracted 2.25 million U.S. dollars in the preliminary round of funding (SAFT) for the new blockchain project.

In the project invested: Metastable, Kilowatt Capital, and Coinfund Multicoin Capital.

The funding aims to support Chainweb, project-oriented solution of the problems of scale and security. The project will combine several peer-to-peer block chain for transaction processing, not to use one decentralizovanno blockchain (according to this principle works most cryptocurrencies, including bitcoin).

The application, as for example, Cryptokitties will be able to work for five or six chains, while the large ICO will be on a different blockchain (though within the same system or project), and they will not interfere with each other. And even if the load will still have the problem, you can create additional blackany.

Various blackany integrate their root nodes of the hash tree with each other, ensuring that, despite the fact that each of these blockchains will be unique, they will still be able to exchange information and to reach consensus.

Unlike other proposals for scaling, the parallel network model Chainweb will be able to maintain the required level of security without the use of channels. It expects that the project will contain approximately 1,000 different blockchains.

In addition, each chain will produce tokens Kadena, although the exact function to determine the number of issued tokens and the timeline of their release has not yet been determined.

According to the founder Kadenа, Stuart Popjoy the project was conceived with the aim of developing a more understandable language for smart contracts. It integrates with Pact, smart contracts, which already offers Kadena for corporate clients.

However, Chainweb go beyond business and become a public network.

With this project in Kadena hope to increase the volume of one token up to 10,000 transactions per second while maintaining low fees.

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