Ground X, the blockchain-a division of the South Korean messenger Kakao, has launched a test network of its own blockchain Klaytn.
Today, October 8, testnet available by invite 10 partners. On this Ground X announced in a press release. In addition to the press release, the company has released a white paper, where the platform is described in more detail. According to this document, Klaytn will be the technological basis for decentralized applications (dApp).
Blockchain Klaytn uses a hybrid approach, applying the concept of teamwork consensus nodes (CN) and the ranger node (RN) to simultaneously improve scalability and transparency. The essence of the concept is to create CN-partners private blockchain in which transactions are made on a consensus algorithm BFT — strategy of the Byzantine generals. Generals in this case are called validators. Meanwhile, the implementation of this concept, any external user can connect to the network and to take part in it as a ranger nod, whose task is to re — examine blocks that spread CN.
“Ranger nodes download only created a consensus node blocks and periodically communicates with each other, keeping a local copy of the blockchain. They confirm that new units that you selected CN, and check that these nodes provide the same information about the contents of the blocks. Any user can join the network as a ranger nod”, — stated in the white paper.
With this hybrid approach, the speed of propagation of the blocks in testnet increases together with the growing number of transactions up to 1500 per second. In order to encourage the participants, the network will be distributed between the nodes of both types 10 billion tokens KLAY. The number of tokens that will get each node will depend on its contribution. As expected, the network will produce more tokens every year, as a reward for blocks.
According to representatives of the Ground X, the original network code will be published at a later stage. Fully prepared to work blockchain Klaytn (or mainnet) community will see in the first quarter of 2019. Will the tokens KLAY to be traded on exchanges after the official launch of the network is still unknown.
For the first time, Kakao has announced plans to create a blockchain months ago. In may, the messenger confirmed the rumors about the opening of a subsidiary Ground X specializing in blockchain development. In June the company announced plans to undertake a private placement of shares for the financial support provided by the Ground X.