Kakao-backed Dunamu rolls out blockchain service platform ‘Luniverse’

[The article's lede and headline have been edited to reflect that Dunamu is backed by Kakao and is not its subsidiary as mentioned previously.]

Lambda256, the blockchain research unit of Dunamu – backed by South Korean internet giant Kakao, has announced the launch of a consortium-based blockchain service platform, Luniverse.

The company has been working on Luniverse since May 2018. Park Jae-hyun, CEO of Lamda256, had previously explained the new tool during the Upbit Developer Conference held last September on Jeju Island.

According to the official release dated March 18, Lambda256 has announced that it is spinning out of Dunamu as an independent Corporation and will supervise Luniverse’s operation.

The platform will enable IT companies and startups to easily develop the blockchain-based services that they lack the personnel and infrastructure to build on their own, JoongAng Daily reported. It will offer cloud-based solutions that enable companies to build, host and maintain a blockchain.

“In the past, a lot of companies built their own blockchain, but an alternative is outsourcing the establishment of a blockchain in the form of a service offered on cloud systems,” Park said in a press conference held Tuesday (as quoted by JoongAng).

Companies using Luniverse would be able access to side chain solutions that offer enhanced performance and greater stability, with key features including “development tools, proxy mechanisms to ensure uninterrupted service, easy account control, user data backup and management support, security assessment for smart contracts, data privacy features, and auto-scaling systems to meet traffic demands,” CoinJournal reported.

Seven companies – E4Net, KStarLive, Humanscape, Aha, Ziktalk, Storichain, and Mossland – are going to launch blockchain-based services developed using Luniverse in April.

Lambda256 also announced plans to issue a token called ‘LUK,’ which will be used in the Luniverse ecosystem. The token will be used for “platform payment in the future DApp store and solution market place, as well as an important investment mission for industry development.”

“[Luniverse] will launch 'DApp Store' and 'Solution Marketplace' in the second half of 2019 to promote blockchain service and technology. With [Luniverse], you can add desired blockchain technology and services to your system simply by selecting the necessary functions as if you have the necessary items in your shopping cart. It's as easy as to pick out the app you want from the App Store or choose the features you need to build your shop on an open platform,” the release said (via online translation).