Kadena, a blockchain technology company that spun out of the JPMorgan group: “Blockchain Center of Excellence,” founded by former JPMorgan and SEC technologists, is looking to help aid in enterprise blockchain adoption by offering a free service.
The company, having successfully launched a scalable enterprise smart-contract solution on the Amazon AWS Marketplace, is now looking to expand its reach and offer a similar service, free of charge, on the Microsoft Azure Marketplace.
Kadena differs from most other enterprise blockchain products and solutions as it offers the typical high-performing and secure private blockchain for an enterprise-scale, but it also has a public blockchain side called ‘Chainweb’ which is purported to be a successful scaled proof-of-work public blockchain.
However, the intention with launching its Scalable Permissioned Blockchain on Azure is to allow companies to get comfortable with the technology and build a proof of concept without delving too much into the nascent space, too quickly.
For Kadena, this is an opportunity for their technology to be put out there and likely gain traction and usage, but it is also an attempt to offer a high-performing blockchain to enterprises that are still toying with the idea.
“Our private chain is designed for enterprise use. It’s designed for being high-performance and for integrating with traditional back ends. And by bringing that chain to AWS marketplace, and now to Microsoft Azure, we are servicing almost all of the enterprise blockchain market that takes place in the cloud,” co-founder and CEO Will Martino told TechCrunch.
The free service is an interesting call from Kadena, but they have a monetization strategy. The free version allows for 2,000 transactions a second across four nodes, once companies figure this out and want to scale, that’s when the company begins making money.
Still, like any freemium offering, this allows for companies to get a taste of blockchain usage and to try and see if it is suitable for them before deciding to take a more significant step into scaling up and investing more.
A hybrid approach
What Kadena offers that other enterprise blockchain solutions do not is its hybrid approach. Most enterprise-grade blockchain solutions are geared towards a private, permissioned blockchain which has controllable permaintors, but often lacks some of the advantages of a public chain. Kadena is looking to combine private and public chains.
“You can run a smart contract on our public Chainweb protocol that will be launching on October 30th, and that smart contract can be linked to a cluster of private permission chain nodes that are running the other half of the application. This allows you to have all of the market access and openness and transparency and ownerlessness of a public network, while also having the control and the security that you find in a private network,” Martino added.
Kadena is already on-boarding some rather large clients; it may not be in the same realms as IBM or Microsoft with their blockchain clients, but they can boast $3 billion asset manager USCF Investments, healthcare technology company Rymedi, major Latin American tech firm Alteum and Fortune 500 companies.
Kadena also claimed that it counts one of the world’s top 100 largest banks as a client, but declined to disclose the name.