Kakao’s Blockchain Platform Klaytn To Launch Mainnet Next Month

Announcements, Blockchain, News | May 15, 2019 By:

Ground X, the blockchain subsidiary of South Korean chat giant Kakao, plans to officially launch its blockchain platform Klaytn next month.

Klaytn, which successfully closed its exclusive seed round of funding with $90 million in March of this year, is an enterprise-grade, service-centric platform that aims to bring user-friendly blockchain experience to millions. It combines the best features of both public blockchains – decentralized data & control, distributed governance – and private blockchains – low latency, high scalability – via an efficient ‘hybrid’ design.

After completing the trial run of the private testnet “Aspen,” which was exclusively used by the partners for the past seven months since last October, Klaytn released the public testnet “Baobab” on March 29. The platform reportedly accomplished over 3,000 TPS throughput and 1-second block latency, and featured new functions and developer tools that enhance security and usability as well as offer the highest performance and flexible scalability.

In its latest announcement, Klaytn said that its mainnet will launch on June 27. Following the launch of the mainnet, the platform intends to release an integrated crypto wallet in KakaoTalk.

“Klaytn plans to leverage its Kakao-based 50 million-strong user base to drive mass adoption of blockchain,” said Jason Han, the CEO of Ground X. “Klaytn enables businesses and entrepreneurs today to verify Klaytn as a stable platform with which they can develop blockchain services, and most importantly capture value using blockchain technology.”