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

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.

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Bitcoin Price at Last Line of Defense: $8,270 Must Hold

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