Blockchain network from Kakao to be 15x faster than Ethereum

Wednesday 10 July 2019 09:45 CET | News

Kakao, a South Korean messaging app provider, has claimed that its recently launched Klaytn blockchain network is up to 15 times faster than Ethereum.

Kakao’s blockchain subsidiary GroundX held a press conference in the South Korean capital Seoul, saying that, while Klaytn can mine a block in as little as a second, Ethereum takes around 15 seconds, according to CoinDesk. Therefore the speedy processing of the network enables Kakao to provide a transaction throughput of 300 per second, compared to Ethereum’s 20 transactions a second, the report indicates.

Ground X announced the Klaytn mainnet launch on June 27, 2019 saying that the blockchain network aims to boost mass adoption of blockchain services. According to its white paper, Klaytn has been designed with a hybrid approach that adopts the concepts of consensus nodes (CNs) and ranger nodes (RNs) to achieve both scalability and transparency.

Also, major companies such as LG had joined a governing council for Klaytn, and a number of projects were already building with the new blockchain and will be released by the end of July 2019.

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Keywords: Kakao, messaging app, blockchain, Ethereum, transaction speed, South Korea
Countries: World

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