Klaytn, a global public blockchain platform developed by Ground X, the blockchain affiliate of the leading South Korean Internet company, Kakao, announced on Thursday it has teamed up with ConsenSys, an Ethereum software company, to advance its platform’s integrated digital currency efforts.
Klaytn reported through the partnership, it and ConsenSys will work to advance the performance of Klaytn’s platform and develop a private version of it with specific features including:
- Privacy to reflect the rising concern around data protection among financial institutions
- Scalability layer 2 solution to serve a large number of users without compromising speed
- Interoperability to bridge multiple blockchains
While sharing details about the partnership, Charles d’Haussy, Managing Director of Asia Pacific at ConsenSys, stated:
“Through this collaboration we will strengthen the efficacy of the Klaytn platform, readying it to process transactions which would conceptually support CBDCs, and also optimize it for Ethereum Layer 2 integration.”
Klaytn is described as a service-centric blockchain platform providing an intuitive development environment and a friendly end-user experience. The platform is built upon solid reliability and significant stability with substantial service development for mass adoption and allows real-world applications of large scale to be produced right away so that our end-users can make full use of services without much expertise in blockchain or cryptocurrency.