TRENDING:
ADP Report
US midterms
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Kakao is 15 faster than Ethereum

  • The blockchain subsidiary of the South Korean giant boasts about its speed.
  • The company has sacrificed decentralization to achieve speed.
Kakao is 15 faster than Ethereum
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst

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.

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

More from Tanya Abrosimova
Share:

Editor's Picks

Ripple ticks higher as selling pressure eases amid whale net outflows

Ripple ticks higher as selling pressure eases amid whale net outflows

Ripple edges higher near $1.30 on Wednesday, building on a broader crypto market recovery wave. The uptick comes amid the US midterm elections, in which the Democratic Party has clinched victory in the Senate and is on track to gain control of Congress.

Crypto Today: Bitcoin, Ethereum, XRP extend advance as US Dollar slides on Democrats' US midterm victory

Crypto Today: Bitcoin, Ethereum, XRP extend advance as US Dollar slides on Democrats' US midterm victory

Bitcoin trades above $78,000 on Wednesday as risk-on sentiment improves in the broader cryptocurrency market. Ethereum mirrors BTC’s recovery outlook, hovering above $2,300. Ripple similarly exchanges hands above $1.28, marking two consecutive days of gains.

Pi Network Price Forecast: Bullish breakout hopes fade as PI approaches record lows

Pi Network Price Forecast: Bullish breakout hopes fade as PI approaches record lows

Pi Network (PI) is trading in the red on Wednesday, hovering around $0.0755, with a downside risk toward the $0.0704 record low. The retail activity in the derivatives market declines as PI futures Open Interest plunges to nearly $7.50 million.

US midterm elections set up a potential volatility shock for BTC

US midterm elections set up a potential volatility shock for BTC

Bitcoin holds above the key 200-day EMA but remains capped by the 100-day EMA, with a breakout in either direction likely to determine its next directional bias. Analysts remain bullish on BTC but expect a significant price swing in either direction, favoring volatility-based strategies over directional bets.

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin: Binance security breach and hawkish Fed push BTC lower

Bitcoin (BTC) continues to weaken this week, down more than 3% and heading for its fourth straight weekly loss. The largest cryptocurrency by market capitalization is facing a bearish outlook, fueled by a hawkish Federal Reserve (Fed) outlook at the October meeting and a reported $6.3 billion hack at Binance, which is driving risk aversion and triggering heavy liquidations.