Home News Klaytn Blockchain Ahead of Facebook’s Libra Network, Says Kakao CEO

Klaytn Blockchain Ahead of Facebook’s Libra Network, Says Kakao CEO

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Yeo Min-soo, the CEO of South Korean web big Kakao, stated that his agency’s Klaytn blockchain is much like Facebook’s Libra besides it’s manner forward in its improvement.

According to the Korea Herald on Nov. 28, Min-soo lauded Klatyn’s improvement in the course of the first Klaytn Governance Council Summit held in Seoul:

“Facebook’s Libra launched last month with aims to recruit 100 partners. Libra is taking a similar approach to ours, but it has yet to experience the milestones we have crossed. […] Next year, Klaytn will become Asia’s biggest blockchain consortium.”

The Klaytn platform, which is developed by Kakao’s blockchain subsidiary Ground X, at present has 27 corporations in its Governance Council, of which the mixed worth is reportedly 70 trillion gained (over $59.three billion). 

During the occasion, Min-soo emphasised that the platform doesn’t belong to Kakao, however to all of the Klaytn council members. The council is the Klaytn ecosystem’s decision-making physique and was joined by main crypto alternate Binance in October.

A quick-growing ecosystem

Min-soo stated that since its launch in late June, Klaytn has been steady and operated with none errors halting its operation. He claimed that the platform is now processing a each day transaction quantity of round 700,000, corresponding to the Ethereum blockchain, which has been lively since 2015. 

According to blockchain information web site BitInfoCharts, Ethereum’s blockchain processed over 674,000 transactions on Nov. 27.

As Cointelegraph reported in March, Kakao plans to combine a Klaytn pockets, dubbed Klip, in its Kakao Talk messenger. Min-soo touched on the topic in the course of the occasion, saying, “Based on our 40 million user pool, we are putting our best efforts for a soft landing for the mass adoption of Klip.”

In September, Kakao launched a particular version of Samsung’s Galaxy S10 smartphone in partnership with the corporate. As beforehand rumored, the agency preloaded the gadgets with its Klay tokens.

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