The Web3 Foundation is studying how to adopt blockchain startup Kadena's Pact smart contract programming language for the Polkadot ecosystem.
The two organizations signed an agreement to kick off a research project studying how Pact can be integrated into different blockchain platforms, beginning with Polkadot, Kadena announced on Tuesday at CoinDesk's Invest: NYC event.
Pact is designed to facilitate smart contract executions among developers that use different blockchains.
Kadena hopes the language will become a smart contract standard, regardless of developers' preferred blockchains.
The firm's founder Stuart Popejoy unveiled the cross-chain smart contract language in June 2019 for "Hybrid blockchains," both public and private.
Kadena claims Pact is one of the first "Human-readable" languages to execute smart contracts with Formal Verification, a way of verifying algorithms' "Correctness" using mathematical methods.
Formerly called Chainweb, Kadena's blockchain platform went live on Nov. 4, weaving together 10 proof-of-work blockchains running concurrently.
The company's push to integrate blockchain platforms with a universal smart contract language came on the heels of the Web3 Foundation's interoperability project that facilitates inclusion of different Proof-of-Stake blockchain platforms.
"Web3 Foundation looks forward to the results of Kadena's forthcoming feasibility study, and learning more about the role the Pact language could play in the Polkadot ecosystem." Dieter Fishbein, the foundation's head of grants, said in a statement.
The Web3 Foundation, joined by Polychain Capital, set up a new investment fund to back Polkadot in October.
Web3 Studying How to Integrate Kadena's Smart Contract Language on Polkadot
gepubliceerd op Nov 12, 2019
by Coindesk | gepubliceerd op Coinage
Vermeld in dit artikel
Another mainstream company is seeking approval to invest in crypto
Anthony Scaramucci's investment firm, SkyBridge, seeks approval from the SEC to invest in crypto.
COVID-19 popularized decentralization, but blockchain may not catch on
On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic's end - as the virus continues to rage in the United States and Europe - once can at least speculate: Where will blockchain adoption stand when the crisis abates?
Bitcoin hits new 2020 high at $16.7K -Traders expect bigger breakout
The price of Bitcoin hit a new yearly high at $16,717 on Binance.
The next big crypto market could be fantasy sports, says Messari
As "Digitally native" ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.