Hyundai-funded blockcain HDAC Technology announced a partnership with CasperLabs. The goal of the partnership is to integrate HDAC and Casper blocks.
The two teams will work together to study and develop a Proof-of-Work consensus mechanism.
The aim of the partner is to ensure scalability without compromising decentralization. The CEO of ADAPtive Holdings Ltd., the parent company of Casper Labs, said that this issue is very important for mass adoption.
“Many implementations required compromises on decentralization and we are proposing to offer complete decentralization along with permisionless access”
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Initially, the partnership will focus on the joint technological development of consensus mechanisms. HDAC aims to allow future-generation IoT environments to be authenticated and verified. The company has issued the Hyundai – DAC token on its own Proof of Work block.
HDAC Technology was founded by Dae Sun Chung, CEO of Hyundai BS & C in October 2017.
CEO Michael Yoon said:
“HDAC technology will offer all types of blockchain-related services to assist customers better in the era of the fourth industrial revolution by integrating future technologies such as IoT, AI, Big Data and FinTech.”
CasperLabs is currently working on a Pure Proof of Stake blockchain, based on the idea of developer Vlad Zamfir. As part of the partnership, CasperLabs and HDAC will share research and technical support.
The collaboration will extend over a three-year period, including the hackathon organization in the US and Korea. The two companies also work with select customers and partners to help them implement blockchain solutions.