Kakao’s Blockchain Project Ground X Launches New Klaytn Network Testnet

Ground X Launches Testnet of New Klaytn Network

Ground X is a sector of Kakao that helps to improve the blockchain technology involved with this messaging project. The project, based out of South Korea, has recently launched a test version of their new network, which is being called Klaytn.

In a press release on Monday, the group said that this Testnet is now available, but only 10 of their partners have been invited to utilize it. There is a published whitepaper in place as well to outline what the network can do and what to expect. For example, one of the intentions that they note is that they aim to establish a technological foundation that can support decentralized applications.

When speaking with local publication, the Korea Herland, Ground X CEO Jason Han said, “The popularization of blockchain requires providing a practical blockchain service for mass adoption thereby validating the value and utility of blockchain technology.” He added:

“To achieve this, Ground X has designed Klaytn that can provide an easy and friendly environment for end users, service providers and developers all at the same time.”

The whitepaper notes that the Klaytn blockchain is using both consensus nodes (CNs) and ranger nodes (RNs), which are necessary for the network to achieve the desire scalability. However, it also gives them transparency benefits.

The CNs on the network are the invited partners. As they collaborate, they establish a private blockchain, which is meant to both batch and confirm transactions. It employs the use of a byzantine fault-tolerant (BFT) consensus algorithm. However, for anyone that isn’t specifically invited, they have the option of acting as a RN, which double checks the work of the CNs to prevent any errors.

Ground X wrote in the whitepaper:

“Ranger nodes (RNs) download newly created blocks from the CNs and periodically communicate (‘gossip') among themselves while storing a local copy of the blockchain. They validate the new blocks chosen by the CNs and check that the CNs never equivocate on the content of a given block height. Anybody can join the network as an RN.”

With this innovative approach to their network, Ground X believes that the Testnet manages to reduce the propagation interval down to less than one per second. It also brings the throughput up to 1,500 transactions per second.

To encourage community members to participate, the network plans to offer 10 billion KLAY tokens proportionally to the two types of nodes. The allotment to each party will depend on their contribution, but there’s no specific ratio to govern the incentive yet. Based on the information currently available, the tokens will be issued as block rewards on an annual basis.

At a later stage, consumers can expect to see the network’s source code published. However, there is no information of whether this release will be separate from the planned launch of the Klaytn live network in the first quarter of 2019. This blockchain should work seamlessly with the parent company Kakao’s Talk messaging app.

According to the Korea Herland, there is a meetup scheduled during the San Francisco Blockchain Week on October 10th to introduce Klaytn officially.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide