Yeo Min-soo, director of the Kakao network project, emphasized that the Klaytn 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 resembles Mark Zuckerberg's Libra. Exception – Kakao has achieved better results, according to koreaherald.com.
Klaytn processes 700,000 transactions
During the Seoul CEO Ground X Summit, Jason Han noted the merits of the Klaytn project by comparing the blockchain with Libra:
"Libra is taking a similar approach to ours, but it has yet to experience the milestones we have crossed".
Yeo Min-soo noted that Klaytn functioned without disruption or technical malfunction from the start. Director Kakao emphasized that the project in the current period includes the processing of 700,000 transactions. The result corresponds to the Ethereum blockchain, which has been operating since 2015, as today cryptocurrency news reports.
Klaytn is managed by 27 companies with a total capitalization of $59 billion. At the beginning of 2020, Kakao is preparing to launch a Klip wallet. Users will use it to trade the company's cryptocurrency – Klay.
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