Kadena, a blockchain tech company, just launched Chainweb EVM – a big upgrade to its network. This upgrade adds 20 new chains compatible with Ethereum’s Virtual Machine (EVM).
Saying Goodbye to Layer 2 Bottlenecks
Chainweb EVM is presented as a decentralized alternative to Ethereum’s Layer 2 solutions. Kadena claims it offers near-zero transaction fees, massive scalability, and energy-efficient security thanks to its Proof-of-Work (PoW) system. Instead of relying on Layer 2 solutions, Kadena uses parallel processing across its network to handle many transactions simultaneously. Adding more chains as needed keeps transaction times low and fees incredibly cheap.
Developer-Friendly and Scalable
Developers can use familiar Solidity smart contracts and tools with Chainweb EVM, building on Kadena’s Layer 1 infrastructure. The company reports hundreds of developers signed up for early access after a demonstration at ETHDenver.
Funding and Future Vision
Kadena is also investing $50 million in grants to support development on Chainweb EVM, focusing on real-world asset tokenization and AI projects. Co-founder and CEO Stuart Popejoy sees Chainweb EVM as a long-term solution for various applications, from stock trading to online payments. He emphasized the ease of use for Solidity developers and the cost-effectiveness of Kadena’s system.
About Kadena
Founded in 2016, Kadena boasts a unique approach to blockchain technology, focusing on scalability and energy efficiency. Its Pact smart contract language aims to make blockchain development easier and more secure.
