Kakao Corp Launches Testnet Of Its Blockchain Platform October 8, 2018 October 9, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsOctober 8, 2018 by Kelly Cromley

Kakao Corp Launches Testnet Of Its Blockchain Platform

Kakao Corp., South Korea’s mobile messaging giant, launched the testnet version of its innovative blockchain platform today, October 8, before a formal launch in Q1 2019, according to news report by Korea Herald.

The platform, christened Klaytn, is the creation of Ground X, a subsidiary of Kakao. Developers are presently working with nearly ten local and global partners to trial the new ecosystem, which is focused on DApps.

The news edition has also reported that a meeting will be conducted to officially introduce Klaytn will happen during the San Francisco Blockchain Week October 10. Commenting on the the testnet launch, Ground X CEO Jason Han said

“The popularization of blockchain requires providing a practical blockchain service for mass adoption thereby validating the value and utility of blockchain technology.”

He further stated “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.”

The blockchain platform is devoid of several standard features such as wallets, addresses and private keys. Furthermore, the developers also claim that the platform facilitates 1,500 transactions per second.

Kakao is becoming more prominent in the blockchain domain, with projects coming up from several industrial sectors. Notably, Ground X originally unveiled its plans in March. At that time, the firm denied reports that it will be resorting to Initial Coin Offering (ICO) to raise funds and hinted that it could opt for private placement.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.