Kakao claims 15x speed superiority of its blockchain over Ethereum
South Korean IT corporation Kakao compared its new blockchain with Ethereum, not in favor of the second.
Blockchain division Kakao Ground X hosted a press conference in Seoul on Tuesday to announce that its Klaytn platform is up to the challenge of adding blockchain transactions 15x faster than Ethereum – 1 second versus 15.
The developers also emphasized that their blockchain is capable of processing 300 transactions per second, while Ethereum is only 20.
“I believe that Klaytn will be the initial release of a mobile blockchain service,” said Ground X CEO Han Jae-sung, adding that the increased responsiveness will enable many projects that previously seemed impossible..
To improve performance, Kakao sacrificed decentralization of their system, which was not a discovery for the cryptocurrency industry. According to the white paper, Klaytn uses a hybrid approach involving consensus and free nodes. The former are controlled by a limited circle of project partners and form a private blockchain based on the BFT algorithm, while the latter can re-check the transactions transmitted to the network.
The launch of the Klaytn mainnet was announced at the end of June. Ground X said several large companies, including LG, have already joined the project management, and a number of third-party developers have begun building and porting their products to Klaytn..
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