On August 27, Kadena, which provides hybrid blockchain solutions, announced that it was offering a new blockchain as a service (BaaS) platform. The name of the product is the Kadena Scalable Permissioned Blockchain and it is reportedly available free of charge at Microsoft's Azure Marketplace.
Kadena was founded in 2016 by a couple of former JPMorgan employees, who are said to be experts in blockchain technology. In January of this year, the company began offering a permissioned blockchain platform that is available on the Amazon Web Services (AWS) marketplace.
Stuart Popejoy, who is one of the co-founders of the New York-based company, said at the time that he felt that currently available private blockchain solutions were lacking because they were unable to fully scale. He also said at the time that two Fortune 100 companies, who were operating in the insurance and health industries, were customers of its product.
In the company's most recent announcement, they said that, in addition to Fortune 500 companies, the company's clients include USCF Investments, which is a multi-billion-dollar asset manager, Rymedi, which is a healthcare technology company, and Alteum, which is a large technology company located in Latin America. They also said that they had an unnamed bank as a client that is among the 100 largest in the world.
The company's new blockchain platform provides support for 2,000 transaction per second as well as 4 nodes. They further indicated that in future the software will support the following features:
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Will Martino, who is another of the company's two co-founders and its CEO, says that its Azure product builds upon the success of its AWS product. He further said that it is a product that is designed for enterprise use, high performance and back-end integration. He went on to say that his company was servicing almost the entire enterprise blockchain market that is cloud-based.
According to reports, Kadena has so far raised nearly $15 million in venture capital funding.