Messaging Giant Kakao Launches Its Own Blockchain for Testing

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Messaging Giant Kakao Launches Its Own Blockchain for Testing

The “Ground X” development team of the messaging app Kakao has announced the test version of Kakao’s proprietary Blockchain network, Klaytn. The team is composed of South Korea’s messaging giant blockchain development arm. The test network was availed to ten of its network partners. It is meant to be the foundation of future decentralized applications (dApps).

The messaging giant also published a white paper with more details of the project. The technical subsidiary group of developers attached to Kakao Corp invited the ten partners in a bid to experiment with the developments. The blockchain has been launched ahead of a formal launch meant for Q1 2019.

Klaytn’s Whitepaper

The Klatyn blockchain, according to the white paper, is based upon a hybrid adoption of the concepts of consensus nodes (CNs) and ranger nodes (RNs). The nodes are integrated to achieve both scalability and transparency, easy and user-friendly for developers, end users, and service providers.

The Consensus Nodes are invited partners that are combined to form a private decentralized network. The blockchain batches and confirms transactions through a BTF (byzantine fault-tolerant) consensus algorithm. The ranger nodes enable a public participant to join the network tasked with validating check blocks that have been propagated by the consensus nodes.

Ranger Nodes and Consensus Nodes

RN’s communicate with themselves while storing blockchain copies of recent activities. The RNs also download newly created logs of the blockchain. They double check blocks that have been chosen by the consensus nodes. The ranger nodes will also ensure that consensus nodes never equivocate on the basis of block height. The ranger nodes are made public so as to offer open membership to anyone.

The whitepaper also states the propagation interval to be a throughput of approximately 150,000 transactions per second. This means that the testnet’s yield has been reduced to less than a second per mass number of transactions.

The blockchain platform is similar in features to most other blockchains. The similarities are in the form of wallets, addresses, and private keys. The developers have maintained key prioritization of transaction speeds for Klaytn’s in-net tokens. To attract participation to the network, Kakao will decentralize 10 billion of its KLAY tokens to both RN and CNs. The ratio of distribution will be based upon an exact ratio calculated according to the contribution of either node.

Kakao is increasingly taking root in the cryptocurrency sphere. The company has been sprouting projects from a number of its subsidiary arms. The launch of the test network comes immediately after the messaging startup announced its plan to create a blockchain.

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