Kadena is creating a public blockchain using a new consensus mechanism called Chainweb, which uses a graph theory based braided Proof of Work system. The are also building an enterprise blockchain using BFT-consensus protocol.
Kadena has raised $12 million from Devonshire Investors, Fidelity Investments, SIG, Asimov Investments, Multicoin Capital and SV Angel and others through a Simple Agreement for Future Tokens (SAFT) sale.
Kadena's Chainweb proof of work consensus system is intended to combine many parallel peer blockchains which can integrate their merkle roots together, ensuring that they can share information across the chains and create consensus across ledgers.
According to co-founder Stuart Popejoy, Kadena is building tools for the broader community to test, including a formal verification toolkit to help identify bugs. Kadena demonstrated a working prototype of the formal verification tool in 2017.
Kadena raises a $12,000,000 series B round from SV Angel, Susquehanna International Group, Multicoin Capital, Asimov Ventures and Devonshire Investors.
Emily L Pillmore
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- Byzantine fault toleranceByzantine fault tolerance is a property of a distributed system such that it can tolerate components of a system failing in arbitrary ways, processing incorrect states, rather than simply stopping or crashing.
- BlockchainA blockchain is an append-only digital ledger storing a set of time-ordered transactions grouped in blocks that are linked together using cryptographic hashes.
- Raft (computer science)Consensus algorithm
- Proof-of-work systemA proof-of-work (POW) system (or protocol, or function) is an economic measure to deter DOS attacks and other abuses (e.g. spam) on a network by requiring some work from the service requester, usually meaning processing time.
- Fidelity InvestmentsUs american multinational financial services corporation
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