The South Korean giant claims that its so-called Klaytn blockchain is faster than Ethereum’s blockchain, to be more precise, Kakao claims that it’s 15 times faster.
If you were not aware of Kakao, it is a very popular company in South Korea, mainly known for its messenger app, however, they are also offering gaming, venture capital investments, road view map, sales, and operational support, job, commerce, portal, education, social networking, shopping, artificial intelligence, content, and various other services through its mobile applications.
Kakao said the network can provide a transaction throughput of 300 per second, compared to Ethereum’s 20 transactions per second.
Han Jae-sun, CEO of GroundX said:
“I believe it would be the initial version of a mobile [blockchain] service. With the reduced response time, many projects that we believed unfathomable could eventually come true.”
According to its white paper, Klaytn uses the concepts of consensus nodes(CNs) and ranger nodes(RNs) to achieve scalability and transparency. GroundX announced the launch of Klaytn’s mainnet which is scheduled for June 27th. GroundX also said that major firms such as LG had joined the governing council for Klaytn, and this is just the beginning.
There is no current information regarding a token sale at the moment of writing this article.
Klaytn could be a big deal and we should keep an eye on the project in the future.