Kakao’s Subsidiary Ground X Launches Its New Blockchain Platform ‘Klaytn’ For Tests

This article was published on: 10/8/18 6:51 PM

Maja MazurWritten by | blockchain, news, regulations

blockchain

Blockchain technology seems to have made a massive development in Korea and is now available to more people, thanks to Kakao’s subsidiary company, Ground X. The new Klaytn platform has been launched for tests.

Korea likes blockchain technology

Ground X, a development company of the South Korean biggest mobile messaging provider Kakao, introduces a test network of its new blockchain platform, called Klaytn, Monday, October 8, ahead of its formal launch at the beginning of 2019. Kakao was the initial reason behind Ground X becoming more and more popular in the Internet space, but now the giant enters another big online community – the crypto world.

Promises for the future

Klaytn’s official website promises the new platform to be stable and easy for novices on the cryptocurrency stage. The supposedly super friendly user experience is said to introduce the blockchain technology to new people. As it is only a test network for now, developers are still working on improving it and making it run smoothly in the future. The experimental phase will possibly last up until the formal launch the next year. Klaytn will also be discussed with more detail during the San Francisco Blockchain Week, October 10, as the Korea Herland, local media outlet reports.

Aspiring for more

Ground X aims for making blockchain available for everyone, which requires a lot of work – introducing the new technology, acquainting people with its functions and explaining why it might be useful for them. That’s the goal that Ground X creators have set for themselves.

“To achieve this, Ground X has designed Klaytn that can provide an easy and friendly environment for end users, service providers and developers all at the same time,” stated Ground X CEO Jason Han in an interview for Korea Herland.

Unexpected innovations

What’s surprising about the new blockchain platform is the fact that Ground X developers decided to get rid of classic blockchain features, like the wallets, addresses and private keys, supposedly in order to speed up the transactions. Right now the system is supposed to run 1500 of those every second. Let’s just not forget that this is only the test version. The newly launched Klaytn is currently available to approximately 10 partners in Korea and around the world. Those interested in using the testnet can sign up on the official Klaytn website.

Last modified: October 8, 2018

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