Cryptocurrency

12/08/19 11:00 UTC-4

Kakao Corporation launches its own cryptocurrency wallet

Kakao launches a cryptocurrency wallet
Kakao launches a cryptocurrency wallet

On August 12, according to a report on News1 Korea, Kakao internet giant announced the launch of its own Klip cryptocurrency wallet  which will take place before the end of this year.

 

Klip cryptocurrency wallet

The Klip wallet is being developed by a subsidiary of Kakao, based on the Ground X blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
, and will support Klay’s own tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
, as well as other cryptocurrencies based on its own Klaytn blockchain, according to the report.

HintChain, a blockchain-based food data market, also confirmed this news on its blog on Monday, saying: "Today, the Klip cryptocurrency wallet is being developed, and we are pleased to announce that we are one of the partner services that are represented first."

According to cryptocurrency news, Kakao has 96% of the market in Korea. Its business includes communications, games, content services, financial and mobile services. Back in March last year, Cocoa announced plans to launch a blockchain-platform, and in October released a test version of Klaytn, which is focused on decentralized applications (DApps).

As of October last year, developers were working with about 10 domestic and foreign partners to test new systems.

By the end of the year, a cryptocurrency wallet from Kakao will be released. Recall, Kakao, South Korean messaging application operator, raised over $ 90 million in a private coin offering round for its Ground X Corp blockchain division.

Editor: Jerg Wos

See also: "Bitcoin exchange rate could rise to $250,000: investor opinion"

#Kakao #wallet #cryptocurrency #blockchain

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