Kakao’s Subsidiary Ground X Launches Mainnet Of Klaytn Platform

Ground X, the blockchain arm of South Korean tech giant Kakao, has launched the mainnet of its Klaytn platform. The platform, which concentrates on decentralized applications (DApps), is anticipated to promote blockchain deployment in the nation. A lot of enterprises, including LG, have started using the technology right from the day of launch.

Han Jae-sun, Ground X’s chief executive, pointed out that the enterprises utilizing Klaytn have a total market capitalization of $64.8 billion. As of date, there are nine DApps offered by the platform, including the one rewarding diners for leaving reviews of restaurant and another incentivizing users to upload interesting videos.

Kakao aims to have at least 34 DApps on the platform by October.

The launch is quite noteworthy as Kakao has almost 96% market share in South Korea. The internet behemoth also provides financial and content services, in addition to gaming and messaging platforms.

In May, Ground X was looking at the possibility of integrating a crypto wallet with KakaoTalk messaging app after the launch of Klaytn mainnet. Back in October, a testnet for Klaytn was launched. At that time, 10 local and global firms took part in the trial of the testnet.