Klaytn, the public blockchain project of Korean internet giant Kakao, has announced a strategic partnership with ConsenSys, a leading Ethereum software company, to advance the Klaytn platform’s integrated digital currency efforts.
As part of this collaboration, Klaytn and ConsenSys will work to improve the performance of the Klaytn, a public network split from Ethereum, and to develop a private version of it with specific features including:
- Privacy, to reflect growing concern for privacy among financial institutions.
- Layer 2 scalability solutions for a large number of users without sacrificing speed.
- Interoperability for bridging multiple blockchains.
These features will be critical to optimizing the CBDC platform Klaytn is preparing to participate in the Bank of Korea pilot later this year. ConsenSys will develop a solution using its Enterprise Ethereum stack, including ConsenSys Codefi Asset, Codefi Payments and MetaMask.
“We are excited to be working with ConsenSys to strengthen our public network and build a private network suitable for a successful CBDC distribution test. We also look forward to improving interoperability between Klaytn and Ethereum so that digital assets can flow seamlessly across two chains. “
– – Jason Han, CEO of Ground X.