Kakao Unveils Blockchain Testnet

Kakao Unveils Blockchain Testnet

Kakao Corporation’s blockchain platform has entered its testnet phase, according to an October 8 report. The South Korean internet company is known for KakaoTalk, the country’s popular mobile messaging app

Ground X is the blockchain-focused branch of Kakao. It is the brains behind the company’s new blockchain called Klaytn. Ten partners from all over the world were invited to participate in the testnet.


Klaytn is said to have high performance and fast speed for DApps. Its block interval has been cut to 1 second with up to 1,500 tps.

The platform is designed to be without the typical features of blockchain technology such as wallets, private keys, and cryptograph addresses. This is done to streamline the blockchain and to emphasize a seamless user and developer experience.

Klaytn has tutorials and toolkits that include: the Klaytn Wallet (for users to hodl or transfer tokens created on Klaytn), the KlaytnScope (for monitoring activities on Klaytn), and BLASQ (an incentivized system where the community is rewarded tokens for blockchain-related questions and answers).

The Meetup

Ground X will present Klaytn to developers and service providers on a meetup on October 10th’s San Francisco Blockchain Week.

Aside from KakaoTalk, Kakao has various lines of products and services under its belt namely the fashion and retail app Kakao Style, the Kakao Bank, and a local transportation app Kakao Taxi. KakaoTalk holds 220 million registered users, with WeChat and LINE as the two other most widely used messaging app in Asia.

Related news

Bitcoin Price Analysis March.24: Do or Die For Bitcoin As The Coin Struggles To Stay On-top The Ascending Line

In our most recent Bitcoin price analysis, we had mentioned the importance of the $4050 resistance. Three days ago the above level was retested and unfortunate to the bulls, the price got quickly rejected down. Looking on the BTC chart, we can see that the wick of the daily candle had tested the ascending trend-line which started forming since February 8. The same ascending trend-line is now being tested for the fifth time (around the $3930 – $3950 support level). Despite Bitcoin’s decline from the $4000 area, Altcoins are getting stronger, and the Bitcoin dominance is at its lowest point since August 2018. Total Market Cap: $139.7 Billion BTC Dominance: 50.6% Looking at the 1-day & 4-hour charts – Support/Resistance: Bitcoin is facing the mid-term ascending support line at current price levels, along with support area at $3930 – $3950. In case of a break down, we should expect a retest of lower support areas of $3900 and $3850. Further support is located at the daily chart’s 50-days moving average line (currently around $3780), before reaching the $3700 support zone. From above, the next resistance lies at $4000, before reaching the significant resistance level of $4050. If BTC finally breaks above the last, then we could expect a retest of the major $4200 level. Further above are the $4400 and $4500 levels before the daily chart’s 200-days moving average line (marked in light green), which as of now hovering lies around $4750. – The daily chart’s RSI level: After breaking down and losing the 60 RSI level, Bitcoin is getting close to retest the 56 RSI level along with the ascending trend-line (marked in orange). – The daily trading volume: Following our recent analysis, the last move up had a lack of volume. This lack continues up now. Probably the whales are preparing their next major move. – BitFinex open short positions: The short positions have decreased to 20.3K BTC open positions. BTC/USD BitStamp 4-Hour Chart BTC/USD BitStamp 1-Day Chart The post Bitcoin Price Analysis March.24: Do or Die For Bitcoin As The Coin Struggles To Stay On-top The Ascending Line appeared first on CryptoPotato.

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.