Before writing this article, the White Project team is looking for projects that can represent the combination of the traditional Internet and the blockchain field on a global scale. The frenzy in the currency circle has receded, and more incremental users are still needed in the end.
Author: Qingzhou
Author: Qingzhou
Users who have a deep belief in the Internet will always have extremely high expectations for cryptocurrencies and blockchains.
The Internet was born for a fair and democratic world of world harmony. However, with the deepening of the commercialization of the Internet, the Internet has become invalid. While the giants created by the Internet are reaping the benefits, it depends on whether they are willing to explore something that is more in line with the original intention of the Internet. vista.
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The picture shows Zuckerberg Libra at the hearing
However, this is largely limited to external reasons. As an Internet giant, it has brought a lot of constraints on its social role. Therefore, factors related to the advancement of the blockchain include policies, social and economic environments, and the overall advancement of the project. After seeing the stranding of Libra, the Baiplan team tried to find blockchain projects with suitable giant backgrounds around the world.
Many giants have emerged in the Internet era, and they have not ignored the existence of blockchain technology. For example, the rise of Hyperledger is mainly due to IBMs priority resources. In addition, the success of projects incubated by Consensys also comes from strong financial resources. However, companies with pure Internet genes have never directly promoted a public chain project or promoted the development of digital assets.
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Deployment structure of Kakao Group, Klaytn and Klip
This is due to South Koreas openness to cryptocurrencies, which is unmatched by projects in other countries. South Korea is more suitable for Internet companies to promote business in blockchain and cryptocurrencies.
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Klaytn was born with a silver spoon in his mouth
Kakao is a South Korean mobile Internet giant, and its social software Kakaotalk has a market share of more than 90% in South Korea. Kakaos ecology has also expanded from instant messaging software to a life portal, providing services including advertising and games. In addition, Kakao has also entered the financial field, owning Kakao Pay, and launching Kakao Bank, a pure online bank.
This is an enterprise with resources, users, and application scenarios under the policy and social background. If possible, this is a perfect testing environment for testing blockchain and cryptocurrency.
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The picture shows the Klip wallet
In terms of corporate cooperation, the number of cooperative companies that issue NFT-based digital assets is increasing. They issue and distribute digital assets on Klaytn without any blockchain knowledge or development experience. Also, by hiring other members of the Governance Council (GC), the company is expanding its application scenarios with global companies.
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Take a fancy to the public chain of the digital economy
Klaytn is a public chain, but its goal is not limited to a single cryptocurrency. From the deployment point of view, Klaytn is just a product form, and the operator has always been the company behind it, GroundX. As for the promotion of cryptocurrency, the wallet Klip is also a separately developed product. The goal is Advance through wallet and Klaytn business cooperation.
This is closely related to the understanding of the team. In the understanding of Klaytn CEO Jason Han, the public chain can issue and circulate digital assets, and the digital assets refer to all types of assets that can be presented in digital format.
So obviously, if cryptocurrency is only regarded as a single digital asset, other digital assets will include game items, point miles, coupons, gift cards, mobile money, etc., and even real estate, stocks, and artworks are also being digitized. Ultimately, the public chain can verify the ownership of digital assets and allow anyone to safely and anonymously trade digital assets. Data will act as a digital asset and build a data economy.
When I saw Jason Han’s interview, he made it clear: only what applications does the public chain have can bring value to customers and change the world.
The Baijiu team understood the characteristics of the Klaytn team. Compared with most public chains that focus on infrastructure, kalytn is obviously biased towards applications, which means that Klaytn will use more engineering thinking to develop and create, which is why Klaytn puts the application It is positioned as a BApp, not a DApp with more faith-based conditions.
The Klaytn team believes that decentralization is not the only reason to use blockchain. DApp refers to decentralized service, but since it is considered as a blockchain application = DApp, we only consider the decentralized service model. Blockchain offers a wider range of functionality than this. Among the many advantages of blockchain, such as transparency, traceability and irreversible transaction processing, the necessary elements can be applied to applications. DApp can be regarded as a kind of BApp that focuses on decentralization.
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technology is the foundation
Klaytn is a project with sufficient thinking and height, and naturally requires sufficient technical support. Klaytn is known as an enterprise-level blockchain public platform. Through a hybrid design, it combines public blockchains (distributed data and control) , distributed governance) and private blockchain (low latency, high scalability) capabilities.
Therefore, the goal of Klaytn is obviously engineering-oriented, that is, it tends to realize the large-scale application of blockchain, and needs to focus on the development environment and user experience. This is also one of the important characteristics of Internet companies doing blockchain.
From the perspective of technical structure, the Klaytn network consists of three logical sub-networks: Core Cell Network, Endpoint Node Network, and Service Chain Network.
The core cellular network is responsible for verifying and executing block transactions submitted by end nodes, and broadcasting blocks in the network. The terminal node network is composed of terminal nodes, which are mainly responsible for creating transactions, that is, clients running hashes, and can also handle RPC and data requests from the service chain. The service chain network is composed of auxiliary chains independently operated by blockchain applications (BApps), which are connected to the main network through the terminal node network to jointly process data requests. This part is very similar to the relay node of Polkadot.
Several types of nodes are based on the Istanbul Byzantine Fault Tolerance (Istanbul BFT) consensus algorithm. The consensus between different nodes is different, which is a form of sharding.
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Klaytns governance committee structure, which includes multiple companies under kakao
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The most important thing in the blockchain industry is education
Although Kalytn has a unique background in South Korea, the development of this industry is always full of challenges. Klaytn CEO Jason Han also talked about user acceptance in an interview with the media.
Jason Han said: “Frankly speaking, domestic cryptocurrency users or developers in South Korea have not actively participated in the development of Klaytn. The reasons are as follows:
1) Korean developers are familiar with the use of open source, but unwilling to directly participate in development;
2) Blockchain is an early technology, so the level of understanding is low;
3) Not many developers actively use cryptocurrencies.
However, we recognize the importance of creating a Klaytn-centric development ecosystem, and to this end, we are adding development partners. For example, recently, a Korean blockchain technology development company called Ozys will be responsible for improving and managing Klaytnscope (block explorer) in the future. In the future, we will spare no effort to directly participate in domestic and foreign development institutions and members who want to participate in the development of Klaytn and provide financial support.
According to Jason Hans description, it can be determined that the form of ecological support is being used to enrich applications, which is very similar to the ecological support and appropriation forms of the Ethereum and Polkadot project foundations.
And this move also shows that the education of the market and users also needs to be continuously carried out and revised. Cooperate and educate B-end enterprises, and fully disseminate and guide C-end users.
write at the end
write at the end
After reading the development of Klaytn, we can set the center of Kakaos deployment in the blockchain field as Klaytn, but around Klaytn, there are still many businesses that can be developed.
If Klaytn focuses on the digital economy, when the time is right, Internet businesses will use the blockchain to achieve business migration, and Klaytn CEO Jason Han also said, Klaytn is a public chain founded by a Korean Internet giant named Kakao. Therefore, we will conduct business responsibly and focus on the realization and commercialization of the long-term public chain.”
Compared with Libras attempt and Telegrams idea, Klaytns goal is more impressive. In other words, in the context of South Koreas policy and society, it is more anticipated that the giant will try blockchain and cryptocurrency.
