Kakao’s subsidiary Ground X introduces blockchain platform ‘Klaytn’

Ground X, the recently launched blockchain subsidiary of South Korean internet giant Kakao, has introduced the test net of its public blockchain platform ‘Klaytn’ to its partners, TechInAsia reported.

The new platform aims to do away with the traditional inconveniences such as wallets and managing the private keys to use the wallet in a bid to lower the barriers to entry into the blockchain space for end-users.

According to the official release, Klaytn has improved speed and performance to enable large-scale user applications. The block interval has been shortened to less than one second with up to 1,500 transactions per second, as compared to an hour for Bitcoin and several minutes for Ethereum.

Klaytn brings together toolkits and tutorials that are essential for developing blockchain-based services, providing developers with an easy way to use Klaytn. The toolkit includes:

• ‘Klaytn Wallet' to support secure storage and transfer of tokens created on Klaytn;
• ‘Klaytn Scope' to monitor all activity on the Klaytn platform, including block creation and transaction information; and
• BLASQ, a blockchain-based knowledge sharing platform in which users are rewarded with tokens for blockchain related query/response.

The platform’s tokens are called ‘Klay’.

“Klaytn test net is currently available to a limited number of partners (over a dozen) in Korea and around the world and is available in a variety of industries including entertainment, social media, healthcare, webtoon/web novels, streaming services,” the release said (loosely translated). “Ground X plans to open up the main net in the first quarter of next year through piloting the test net as a partner first and releasing the source code to the general public.”