- The blockchain subsidiary of the South Korean giant boasts about its speed.
- The company has sacrificed decentralization to achieve speed.
A South Korean Internet-giant Kakao claims that its proprietary blockchain 15 times faster than Ethereum.
Kakao’s blockchain platform Klaytn is superior to Ethereum, according to Han Jae-sun, the CEO of Kakao’s blockchain subsidiary Ground X.
Speaking at a press conference in Seoul, the representatives of the company stated that Klaytn is capable of processing 300 transactions per second, while Ethereum’s throughput capacity is 20 transactions per second at best.
“I believe it would be the initial version of a mobile (blockchain) service. With the reduced response time, many projects that we believed unfathomable could eventually come true,” Han Jae-sun said.
The platform developers had to sacrifices some decentralized features to achieve high speed. According to the white paper, Klaytn is a hybrid based on BFT-consensus that allows ensuring sufficient transparency and a high level of scalability.
Ground X has been launched in a commercial use recently. Several companies, including South Korean companies such as LG, Celltrion and Netmarble, have already joined the project.
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