Test Ground X Blockchain Reduces Block Creation Interval
The team of Ground X, the blockchain unit of the South Korean messenger KakaoTalk, launched its test blockchain Klaytn, Coindesk reports. The representatives of the project also published its whitepaper.
The Klaytn platform is based on a mixed approach that uses consensus and ranger nodes. These components employ a flexible negotiation mechanism that groups and confirms transactions. By means of this method, the block creation interval is lowered to less than one per second. The network throughput is about 1500 transactions per second. As a result, the system works more transparently and provides better scalability.
Anyone can connect to the network. 10 billion KLAY tokens will be proportionally distributed between nodes to enhance the intra-network activity. The company representatives state that Klaytn will issue additional series of tokens as a reward to its members annually.
The Ground X experts also stressed that they will publish the Klaytn source code later, and the mainnet will be launched in the first half of 2019.
The testnet launch took place six months after the KakaoTalk representatives announced their plans to start working with blockchain.
As previously reported, Korea Investment Partners, a large South Korean firm, has invested in the Temco project, whose blockchain is tracking goods in delivery chains.