According to a recent report, Kakao, a messaging app provider in South Korea claims that the Klaytn blockchain network which it launched recently is about 15 minutes faster than Ethereum.
GroundX, a subsidiary of Klaytn revealed during a press conference in Seoul that Klaytn mines a block in less than a second compared to ethereum which takes 15 seconds and as a result, Klaytn provides a transaction throughput of 300 per second while ethereum can only provide 20 transactions per second.
The Chief Executive Officer at GroundX, Han Jae-sun said that:
“I believe it would be the initial version of a mobile [blockchain] service. With the reduced response time, many projects that we believed unfathomable could eventually come true.”
GroundX launched Klaytn mainnet on 27th June. Then, it made it known that the blockchain’s vision is to ensure mass adoption of blockchain services.
The white paper reportedly states that Klaytn was created using a hybrid method which allows the utilisation of the concepts of consensus nodes (CNs)…