Blockchain
Kakao’s Blockchain Project ‘Klaytn’ Launches Its Public Testnet ‘Baobab’ to Drive Mainstream Adoption of Blockchain
- Development environment ideal for blockchain services to flourish
- New features enhancing performance and scalability
- Intuitive Klaytn developer tools for service providers and developers
Ground X, the blockchain subsidiary of the leading South Korean mobile platform, Kakao, has released its public testnet Baobab, along with the updated position paper, which highlights the technical architecture and direction of Klaytn.
After completing the trial run of the private testnet ‘Aspen,’ which was exclusively used by the partners for the past five months since last October, Klaytn released the public testnet ‘Baobab.’ Any service providers or developers interested in using Baobab can visit the official Klaytn homepage at www.klaytn.com. The Klaytn mainnet is set to launch by the end of June.
Baobab features new functions and developer tools that enhance security and usability based on the actual feedback from the partners via Aspen. First, the account system has been improved to support users to mitigate the rigorous demands of taking care of their own accounts, which traditionally existed as randomly generated character strings. In doing so, Klaytn has added account management functions to offer better flexibility in empowering users to choose their own account names to make them easy to remember.
In addition, Klaytn accomplished over 3,000 TPS throughput and 1-second block latency. In doing so, Klaytn has added ‘Transaction Types’ and ‘Service Chain’ features in order to offer the highest performance and flexible scalability. Transaction Types improve the traditional single transaction processing by defining additional transaction types with new capabilities and optimizations, which ultimately contribute to an efficient parallelization. Meanwhile, the service chains are scalability solutions for BApps (Blockchain Applications) with large traffic by adding and operating auxiliary blockchain networks.
Furthermore, Klaytn also provides useful developer tools to make the developer experience intuitive and productive. Newly added tools include ‘EP (Enterprise Proxy)’ that allows developers to easily use Klaytn with their mobile- or web-based development method, and ‘Klaytn IDE’ (Integrated Development Environment) that supports users to build, test, and deploy codes in the browser and locally. Such features are expected to enhance the existing services or create new services by efficiently utilizing blockchain technology.
According to Jason Han, the CEO of Ground X, heading the development and operation of the Klaytn platform, “We designed Baobab in a way that allows global service providers to verify Klaytn as a stable and reliable platform while developing and operating blockchain services for their massive user base.” He added, “We also completed the white-box penetration test to retain robust security as we expect to see invaluable digital asset transfer within our platform.” Jason also commented on the alleged crowdsale for KLAY via fraudulent channels by saying, “There is absolutely no way for individuals to purchase or invest in KLAY, so please beware of potential financial damage.”
Prioritizing its efforts to drive mainstream adoption of blockchain, Klaytn brings user-friendly blockchain experience and intuitive development environment for millions of users. Klaytn has also partnered with 26 initial service partners to create real use cases thereby seeking to substantiate the value and utility of blockchain technology. Continuing its community building endeavors, Klaytn also plans to hold meetups for developers around China, Vietnam, and the Philippines in Asia, as well as the U.S. and Europe.
SOURCE Klaytn
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This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
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- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
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