S. Korea’s mobile giant Kakao Corp’s proprietary blockchain platform Klaytn has entered its testnet phase with selected partners.
South Korea mobile messaging giant Kakao Corp. unveiled the testnet version of its new blockchain platform Monday, October 8, ahead of a formal launch in Q1 2019, local media outlet Korea Herald reports.
The platform, dubbed Klaytn, is the brainchild of Kakao subsidiary Ground X. Focused on decentralized apps (‘DApps’), developers are currently working with around ten domestic and international partners to experiment with the new ecosystem.
A meetup to introduce Klaytn will further run during the San Francisco Blockchain Week October 10, the Korea Herland reports.
“The popularization of blockchain requires providing a practical blockchain service for mass adoption thereby validating the value and utility of blockchain technology,” the Herald quotes Ground X CEO Jason Han as saying:
“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 user “environment” has in fact removed many of the standard features of blockchain platforms such as wallets, addresses and private keys, with developers also privileging transaction speed for its in-platform token, which they say will allow 1500 transactions per second.
Kakao has become increasingly active in the blockchain sphere with projects stemming from various sectors of the corporation and its subsidiaries.
Ground X originally announced its plans in March, at the time denying it planned to use an Initial Coin Offering (ICO) to raise funds through token distribution and subsequently hinting it could instead use a private placement.