Korean IT giant Kakao launches blockchain platform Klaytn with the participation of LG and UnionBank A division of South Korean IT company Kakao - Ground X - launched the Klaytn blockchain platform on Thursday, which has been tested since October last year. During this time, the project participants managed to confirm the security and stability of the platform, as well as adapt it to the needs of end users.

Korean IT giant Kakao launches blockchain platform Klaytn with LG and UnionBank

A division of the South Korean IT company Kakao - Ground X - on Thursday launched the Klaytn blockchain platform, which has been tested since October last year. During this time, the project participants managed to confirm the security and stability of the platform, as well as adapt it to the needs of end users.

According to the press release, Klaytn will contribute to the spread of decentralized services among the mass consumer and will allow to use the advantages of blockchain technology in real products..

Ground X announced that nine blockchain projects, including data marketplace, entertainment and text services, will launch on Klaytn in early July. It is also expected that the platform will be joined by three major video game manufacturers who will create many gaming services on the blockchain..

The Klaytn blockchain uses a hybrid approach that combines the concept of consensus and free nodes to provide scalability and transparency. Consensus nodes are managed by project partners who group and confirm transactions, and anyone can join the network as a free node to re-check transactions.

Along with the launch of the mainnet, a “governing body” was announced that will take over the function of overseeing the development and operation of the blockchain network. It includes "19 global high-level companies known for developing successful and popular services for the mass consumer in various industries, including IT, telecommunications, content, gaming and finance." Among others, LG and UnionBank are on this list..

Ground X Raised $ 90M in March via Private Coin Offerings.

Similar articles

• Gate.io Exchange Launches A Blockchain With Its Own Token And DEX.

  Gate.io exchange to launch blockchain with its own token and DEX Gate.io exchange this Monday announced its own blockchain on the mechanism...

• Binance Opens Peer-to-Peer Cryptocurrency Exchange for CashBinance today announced that it has added face-to-face cryptocurrency exchange for transactions on its peer-to-peer platform..

  Binance Opens Peer-to-Peer Cryptocurrency Exchange for Cash Binance Cryptocurrency Exchange Today Announces Adding Exchange Capability...

• Coinbase has helped MicroStrategy invest $ 425 million in bitcoin Coinbase, an American cryptocurrency exchange, has helped MicroStrategy invest $ 425 million in bitcoin, Coinbase reported today..

  Coinbase explains how it helped MicroStrategy invest $ 425 million in bitcoin American cryptocurrency exchange Coinbase helped MicroStrategy...

• Inspired by YAM, meme project Spaghetti Money raised $ 200 million in assets in 12 hours Investors have invested over $ 200 million in pools of the meme project Spaghetti Money 12 hours after its launch.

  Inspired by YAM, the Spaghetti Money meme project raised $ 200 million in assets in 12 hours Investors invested over $ 200 million in the pools of the Spaghetti Money meme project...