Hybrid Blockchain Maker Kadena Adds Chainlink Price Feeds

Hybrid Blockchain Maker Kadena Adds Chainlink Price Feeds

Blockchain
May 20, 2020 Editor's Desk
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Declared on Tuesday, the project helmed by former JPMorgan blockchain leads has signed a deal to utilize Chainlink’s enduring set of off- and on-chain oracles for pricing Kadena-based assets, beginning with Kadena (KDA), co-founder Stuart Popejoy stated in a statement. For Kadena, which markets itself as a high-throughput option to both the Bitcoin and Ethereum
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Declared on Tuesday, the project helmed by former JPMorgan blockchain leads has signed a deal to utilize Chainlink’s enduring set of off- and on-chain oracles for pricing Kadena-based assets, beginning with Kadena (KDA), co-founder Stuart Popejoy stated in a statement.

For Kadena, which markets itself as a high-throughput option to both the Bitcoin and Ethereum blockchains, Chainlink will offer developer tools for decentralized applications (dapps) based on Kadena’s Pact smart contract language.

KDA itself has still to be listed on any secondary market. However, Popejoy stated the token should be listed on two top-ten cryptocurrency exchanges by the end of Q3 2020.

“Chainlink has figured out how to incentivize an ecosystem of multiple players with their LINK token. They’re already able to enforce certain concepts of governance and data quality, just [by] having a diversity of vendors,” Popejoy said.

For Chainlink, the Kadena integration amounts to another non-Ethereum blockchain subscriber to its price feeds. Tezos and Polkadot announced integrations earlier this spring.

“Chainlink is a blockchain-agnostic oracle network that works equally well with both public and private blockchains and is therefore capable of providing off-chain connectivity to Kadena’s unique approach to enterprise-grade blockchain infrastructure,” Chainlink co-founder Sergey Nazarov said in a statement. “Our decentralized oracle network allows access to high-quality data that is valued by institutions using Kadena’s enterprise-focused hybrid blockchain.”

Popejoy stated the Kadena blockchain is both sharded – intending data is siloed over databases but still communicative – and operates in correspondence for optimum speed, technical features he considers mainstream markets will demand as the blockchain industry expands.

Popejoy views a future where nodes are too complicated for the average user to manage, a value not shared by the leading public blockchains.

“We don’t have a resistance to the network getting large enough that you need professional services to run a node because we think that’s where blockchain is headed,” Popejoy stated.

Launched in January, Kadena raised $15 million in a 2018 funding round joined by Multicoin Capital and the venture arm of the owners of Fidelity Investments. The network is recently operating on interoperability projects with both Polkadot and Cosmos.

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