JPMorgan lost at the same time two leaders of their blockchain-project Juno (Juno) that left to start his own startup.
As reported by Quartz, the head Juno Popjoy Stewart (Stuart Popejoy) and the lead developer will Martino (Martino Will) in June launched its own project Kadena.io. Two "fugitives" were so inspired by the prospects of the technology of the blockchain that he preferred the risks of developing their own business working in the largest American Bank.
Using the results of the project Juno, Martino and Popjoy hope that their startup will be able to master the difficulties in the way of projects open source. According to the founders released the white paper, Kadena allow their customers to conduct business with each other privately, sacrificing the accessibility of the blockchain.
Despite the loss of two prominent leaders, JPMorgan intends to continue the development of the Juno and of the blockchain to improve their banking services. The Bank has accepted the challenges that arise when developing their own version of the blockchain, and has launched a Juno for the execution of payment transactions between its offices in London and Tokyo with 2200 clients.
Earlier this year, JPMorgan presented its blockchain Juno project Hyperledger, working under the auspices of the Linux Foundation. Juno provides support for "smart contracts" using the language Hopper, and is based on the algorithm Tangaroa, in turn, created on the basis of the Raft algorithm, which provides better scaling compared to classical hash-based proof-of-work.
The consensus on the Juno platform is maintained through a system of elections where the leader confirms the agreement between their followers. Juno requires a consensus only for inputs but not for outputs of a transaction, while the slow nodes do not slow down the entire network.
When testing a network of four nodes running on a MacBook Pro, a non-optimized system showed Juno 500 transactions per second, with a delay of 2 milliseconds at achieving consensus. At the moment, Bitcoin provides up to 7 transactions per second, and Visa - up to 2,000 transactions per second, therefore the project JPMorgan may make them a worthy competition.