tag: smart contract

Kadena’s smart contract language, Pact, is a powerful tool at our disposal. Pact assists developers in creating smart contracts on the Kadena blockchain, called Formal Verification. So what is Formal Verification? In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.

Kadena, the first blockchain technology company to come out of JP Morgan’s Blockchain Center for Excellence, has announced the full launch of its public blockchain. Kadena’s public blockchain is first to market as a sharded Proof of Work Layer 1 network. Following the start of genesis mining in October 2019, Kadena has surpassed having two million blocks mined at hash rates as high as 40 TH/s. Today’s launch includes full transactions and the ability to write smart contracts.

This past June, Kadena Founder and CEO, Will Martino, was invited to speak at Consensus 2019. While speaking on the panel on ‘Why Blockchain Privacy Matters to the Enterprise,’ Will discussed the benefits of a hybrid blockchain platform and smart contract technology.

Smart contracts are the key to realizing the full potential of blockchain technology; a smart contract may one day secure your house on a blockchain, assure your digital identity, enable easy international payments, and much more.

At Kadena, we talk a lot about blockchain design decisions. One particularly profound design decision that I’ve come across recently revolves around the property of Turing completeness, which sparked debate in a recent post by one of our developers. As a non-technical member of the team, I wanted to learn what Turing completeness actually means, why the blockchain community seems to be divided on the matter, and why our engineers are working hard to educate others on its drawbacks for safe smart contract programming.

Back in November 2016, Kadena open-sourced our smart contract language, Pact™. Open-sourcing is all about empowering users, and that’s also what motivated us to make Pact in the first place––to empower people to enact meaningful events on a blockchain, safely and quickly. We believe open-source initiatives provide transparency and benefits to everyone