Kakao’s blockchain subsidiary Ground X unveiled the mainnet of its public blockchain platform “Klaytn” Thursday. The “Governance Council” that consists of nodes tasked with running the platform was announced too.

BApp partners tasked with expanding ecosystem of cryptocurrency ‘KLAY’

Nine BApps (blockchain applications) including HINTchain, Angtube and PIBBLE begin offering Klaytn-based services in time for the launch of the mainnet. HINTchain is a service enabling users to receive tokens in exchange for writing review on foods and pay with tokens at restaurants and Angtube compensates users with tokens for uploading videos and carrying out missions. PIBBLE is an image-centered social network service sharing image contents. Other services are to be disclosed until early July.

Ground X has unveiled 34 application partners to be loaded onto the Klaytn platform on four separate occasions thus far. Ground X uses the word BApp instead of DApp (decentralized application). This is intended to emphasize its commitment to supporting blockchain-powered apps that could be commercialized rather than decentralization. “While companies that have disclosed their main networks developed platforms simply, Ground X focuses on creating an ecosystem in which users can experience diverse Klaytn-based blockchain services,” a Ground X official said.

Ground X laid out “PoC (Proof of Contribution)” and “KIR (Klaytn Improvement Reserve)” to encourage partners to run services. PoC is a policy offering Klaytn cryptocurrency KLAY to participants that produce meaningful results while operating services on the Klaytn platform. KIR is a mechanism compensating those who make contribution to Klaytn’s technical and entrepreneurial development. Examples of contribution include hosting Klaytn community meet-ups or engaging in Klaytn-related research and translation.

Disclosure of ‘KLAY BApp partners’

Ground X also unveiled “KLAY BApp partners” to help activate the Klaytn ecosystem. These partners are obliged to use KLAY as a means of reward and payment instead of their own tokens and users can obtain KLAY from various BApps and use it in other BApps freely.

Many developers that proved commercial viability by unveiling games in other blockchain platforms take part as KLAY BApp partners. Among other things, Klaytn Knights, which has evolved from EOS Knights that took first place in the segment of blockchain-based games, is drawing attention. Klatyn Knights begins its pre-registration Friday. Other KLAY BApp partners to be unveiled later include Marvel Clans, Hyper Snake developer MixMarvel’s new piece, and Axie Infinity, an NFT (Non-Fungible Token)-based pet raising game of Vietnam’s game developer Sky Mavis.

In addition, NOD Games’ Crypto Sword & Magic, Nodebrick’s farming-type role-playing game (RPG) Infinity Star, blockchain-based fishing game Crypto Fishing and Neocyon’s RPG Hero of Cryptoworld will use KLAY. Crypto Sword & Magic, in particular, is a game project selected by Hashed Labs, blockchain investor Hashed’s accelerating program. KOSDAQ-listed company MGame, which has already attracted 21 million users, is using intellectual property rights of “Gwihon” and “Princess Maker” to develop Klaytn-based blockchain games.

Global companies join Governance Council in droves

The Governance Council will become Klaytn’s nodes and consist of 20 global top-tier firms representing IT, communication, content, gaming and finance. “We let the Governance Council consist of Asia-based companies, considering that Korea, China, Japan, Singapore and other Asian countries spearhead the blockchain industry and the public in the Asian region is highly receptive to new technology,” a Ground X spokesman said.

The council is responsible for Klaytn’s major decision-making on technology and projects and consensus node operation. Beyond platform operation, the council is also discussing ways to develop new Klaytn-based services and grafting blockchain technology onto existing services.

Korea’s participating council members include LG Group affiliates like LG Electronics and LG International; Asia’s largest biotech company Celltrion; Korea’s leading game developer Netmarble; Wemade, the popular game developer with the intellectual property right of the ‘Legend of Mir’ boasting more than 500 million users; PUBG, the developer of the world’s No.1 paid game ‘PlayerUnknown’s Battlegrounds’; Pearl Abyss, the developer of the globally famous MMORPG ‘Black Desert’; Neoply, the investment arm of Neowiz; and Future Stream Network (FSN), Korea’s biggest digital advertising group. Kakao, Korea’s No. 1 mobile platform, also takes part in the council along with its subsidiaries including Kakao Pay, Kakao Page, Kakao Games and Kakao IX.

Overseas participants include Philippines’ leading bank Union Bank of the Philippines; Axiata Digital, the digital service arm of Southeast Asia’s top communication group Axiata; Hong Kong’s fintech company Hashkey, the strategic partner of China’s Wanxiang Blockchain Labs; Everrich, the real estate developer heavily focused in Korea, Taiwan and Southeast Asia; Hi Inc., Hong Kong’s unicorn company involved in global travel and lifestyle businesses; Cocone, Japan’s leading social network digital content company; and gumi Inc., Japan’s leading mobile game developer. The council is expected to keep expanding.

“We laid a solid foundation for popularizing blockchain through the disclosure of our mainnet,” said Ground X CEO Han Jae-sun, adding that “we will continue to add new service and KLAY BApp partners to promote the Klaytn ecosystem.” “The combined market capitalization of the companies taking part in the Klaytn Governance Council amounts to about 75 trillion won. We expect our operation of Klaytn with such valuable and responsible firms to raise the platform’s stability and reliance,” Han said. /hyun@decenter.kr

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