Kakao to Release Klaytn Mainnet in June 2019

By Matthew Lam   May 16, 2019 1 Min Read

Ground X – the blockchain development division of South Korean internet giant Kakao Corp announced that it will launch the Klaytn mainnet on the 27 June 2019. This announcement was made at the Consensus 2019 on 13 May.

The firm had published a white paper detailing this new blockchain platform. The whitepaper first highlights the limitation of existing public blockchain: inconvenient user experience, absence of enterprise considerations, lack of finality and uncertain operating costs.

In the Klaytn mainnet, the concepts of ranger nodes (RNs) and consensus nodes (CNs) are introduced in achieving scalability and transparency. CNs are invited partners that will run a byzantine fault-tolerant (BFT) consensus algorithm to form a private blockchain in confirming and batching transactions. As stated in the whitepaper “Ranger nodes (RNs) download newly created blocks from the CNs and periodically communicate (‘gossip’) among themselves while storing a local copy of the blockchain. They validate the new blocks chosen by the CNs and check that the CNs never equivocate on the content of a given block height. Anybody can join he network as an RN.”

About the author

Matthew Lam   
I believe the true value of cryptocurrencies is the underlying blockchain technology. The development of CBDC, DeFi, blockchain standardization are the key trends to watch in 2020!

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