Klaytn, the public blockchain project of Korea’s Internet giant, Kakao, has announced that it is strategically partnering with ConsenSys, a leading Ethereum software company, to advance the Klaytn platform’s integrated digital currency efforts.
As part of this cooperation, Klaytn and ConsenSys will work to advance the performance of the Klaytn, an Ethereum-forked public network, and develop a private version of it with specific features including:
- Privacy to reflect the rising concern around data protection among financial institutions.
- Layer-2 scalability solutions to serve a large number of users without compromising speed.
- Interoperability to bridge multiple blockchains.
These features will be crucial to optimize the CBDC platform that Klaytn is preparing to participate in the Bank of Korea pilot later this year. ConsenSys will architect a solution using its Enterprise Ethereum stack, including ConsenSys Codefi Asset, Codefi Payments, and MetaMask.
“We are happy to cooperate with ConsenSys to strengthen our public network and also build a private network that can cater to a successful CBDC distribution test. We also look forward to improving the interoperability between Klaytn and Ethereum to allow digital assets to seamlessly flow across two chains.”
– Jason Han, CEO of Ground X