The blockchain division of the South Korean technology giant Kakao Ground X reported that the recently launched Klaytn blockchain is much faster than the Ethereum network.
At a press conference in Seoul, representatives of Ground X told that if in the Ethereum network, blocks are created every 15 seconds, then in the Klaytn blockchain they are extracted every second. Thus, the Klaytn network can process up to 300 transactions per second, which is significantly more than 20 transactions per second in the Ethereum network.
In order to increase the capacity of the blockchain, the company had to sacrifice decentralized components of the system.
“I believe that Klaytn will become the base version for the mobile blockchain service. With a reduced response time, many projects that previously seemed impossible can be launched, ”said General Director of Ground X, Han Jae-sun.
Earlier it was reported that the Klaytn blockchain, launched at the end of last month, began to use several large South Korean companies, including the LG conglomerate.