Kadena follows the release of Kadenamint with an interoperable digital wallet
Kadena, the first blockchain technology company to come out of JP Morgan’s Blockchain Center for Excellence, announced the integration of its digital wallet Chainweaver onto the Cosmos network. Chainweaver is a multi-blockchain interoperable wallet that also functions as a development environment for smart contracts. Cosmos, currently valued at an over $850 million market cap, made headlines earlier this year when it launched the Cosmos Hub, designed to be a point of interaction and interoperability for many different blockchains. The integration of Chainweaver onto the Cosmos ecosystem is expected to be completed by the end of Q1.
The rapid development of many different blockchains over the past two years has flooded the industry with a variety of options for blockchain transactions, including transferring cryptocurrencies and running applications. Blockchain transactions take place through a medium known as “smart contracts.” Cosmos allows blockchains to interoperate with one another, reducing the friction for participants in the overall blockchain ecosystem.
Kadena’s Chainweaver wallet is a multi-chain interoperable wallet that stores cryptocurrency and is also a development environment that makes creating usable applications on Cosmos and Kadena both faster and safer. Chainweaver supports development in the Pact smart contract language, which is available in the Cosmos ecosystem as Kadenamint. With Chainweaver, developers can write smart contracts for both Cosmos and Kadena from the same interface, giving developers access to market-leading features such as Formal Verification and Capabilities-based security.
“Blockchains help solve large-scale issues like scalability, security, and usability in the multi-stakeholder environments of practically any industry,” said Interchain Foundation Technical Director ****Ethan Buchman. “We’re working with Kadena to integrate their digital wallet Chainweaver into the larger Cosmos ecosystem to tackle these issues like never before, enabling users to build Pact smart contracts running on the Tendermint consensus engine through Chainweaver’s stellar UX.”
Previously, applications for a blockchain needed to be developed in the language native to that chain, e.g. Solidity for Etherum or Pact for Kadena. With the introduction of Kadenamint — Pact on Cosmos — and Chainweaver, for the first time a developer can create a single application that is compatible with multiple worlds, all inside of the same piece of software. This flexibility reduces friction to deployment and allows creators to rapidly release new products in more markets.
“The implementation of Chainweaver onto the Cosmos network enables participants to build on a blockchain more easily than ever before,” said Kadena Founder and CEO Will Martino. “Kadenamint was the first step in achieving this, giving users a smart contract language they could trust to provide both functionality and security. Chainweaver amplifies that ability by presenting a digital wallet that can support the industry’s big-picture goals of an interoperable financial ecosystem.”
Kadena provides the only public blockchain that is production-ready for smart contracts, solving the scaling challenges of Bitcoin and the security issues of Ethereum. Kadena’s founders created JP Morgan’s first blockchain and worked at the U.S. Securities and Exchange Commission. The team is the first to bring together engineers with decades of banking, commerce, and regulatory experience to a public blockchain. Kadena is in use with businesses including USCF (a $3 billion fund) and Rymedi (tracking the quality of medicinal products). For more information, visit www.kadena.io.
The Cosmos Network is a decentralized network of independent parallel blockchains developed by California-based startup Tendermint Inc. With Cosmos, blockchains can maintain sovereignty, process transactions quickly, and communicate with other blockchains in the ecosystem. This is achieved through a set of open-source tools like Tendermint, the Cosmos SDK, and IBC, which were designed to let people build custom, secure, scalable, and interoperable blockchain applications quickly. For more information, visit cosmos.network.