Kadena, a blockchain platform targeted at businesses, has announced that it has appointed one of the original pioneers of blockchain technology to its board. According to a press release issued today, Stuart Haber, sometimes called the co-inventor of the blockchain, will serve on Kadena’s board of advisors.
Haber, along with W. Scott Stornetta, devised a precursor to the blockchain in 1991. This system provided tamper-proof timestamps and made use of Merkle trees to store information in a sequence of blocks. In 1994, Haber and Stornetta brought system this to the real world when they founded “Surety,” an anti-backdating service which involved printing hashes in the classified ads of the New York Times.
Haber’s system was eventually innovated upon by Satoshi Nakamoto, who invented Bitcoin and created the blockchain as we know it today: a public, cryptographically secured ledger of transactions and data.
As Kadena’s press release notes, Haber was one of the most cited authors in Nakamoto’s 2008 paper, “Bitcoin: A Peer-to-Peer Electronic Cash System.” Haber’s years of scholarly output were a large influence on the modern blockchain.
Since Bitcoin’s rise to prominence, Haber has become a renowned name in the blockchain world, and he has served several blockchain companies. This September, Haber joined the board of Endor, a blockchain-based predictive analytics engine. Earlier in the year, he signed on as Auditchain’s chief scientist. Haber also created his own consultancy company, Stuart Haber Crypto, LLC., in 2017.
Kadena provides a streamlined blockchain platform for businesses and enterprises, promising “speed, safety, scalability, and simplicity.” Haber had this to say about the company:
“As we’re still in the nascent years of blockchain, it’s exciting to see the amazing applications [the] technology has achieved so far…Kadena is working on some of the most promising innovations in proof-of-work blockchain since Bitcoin itself.”
Kadena uses a custom proof-of-work consensus mechanism called Chainweb for its public chain, which boasts 10,000 transactions per second. Meanwhile, the company’s Pact language allows users to author human-readable smart contracts without coding.
In addition to its public chain, Kadena also offers private chains. A single public blockchain is ideal for a cryptocurrency, but is not necessarily desired by private organizations, who may need confidentiality and particular user permissions.
Source: thebitcoinnews.com Read more here!