South Korean mobile messaging giant Kakao has claimed that its proprietary blockchain Klaytn can be up to 15 times faster than Ethereum.
Local publication The Korea Herald reported earlier today that Kakao’s blockchain subsidiary Ground X had said during a press conference in Seoul that Klaytn can mine a block for as little as a second, which allowed the blockchain to achieve 300 per transactions per second (TPS). In comparison, Ethereum takes about 15 seconds to mine a block and reaches transaction speeds of 20 TPS, GroundX said.
“I believe it would be the initial version of a mobile (blockchain) service,” GroundX’s chief executive officer Han Jae-sun said, as quoted by The Korea Herald. “With the reduced response time, many projects that we believed unfathomable could eventually come true”.
GroundX has achieved these higher transaction speeds by sacrificing the decentralisation of some aspects of its blockchain network. According to a white paper, released by GroundX last year, Klaytn uses a hybrid trust model, aimed at utilising the strengths of both private and public networks. The model employs a group of permissioned ‘Consensus nodes’ to run consensus algorithms on a private network and a permissionless, public network of ‘Ranger nodes’ to audit the blocks generated on the private network. GroundX believes that this approach would allow for the private network to have the security and transparency of a public blockchain “without sacrificing performance and reliability”.
GroundX announced the launch of Klaytn’s mainnet last month, adding that a number of blockchain were already in development and set to launch on the network in the coming weeks. The company has also convinced a number of major firms to join a consortium tasked with governing the blockchain. Those include South Korean companies such as LG, Celltrion and Netmarble, as well as other firms from the Southeast Asia region. Kakao affiliates including Kakao Pay, Kakao Games are also participating, The Korea Herald notes.
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