Social networks around the world recognize the potential of Blockchain for themselves. “The Klip Wallet” is the name of the Kryto product of another social media group. This time it is the South Korean Messenger Cocoa, which brings its own cryptocurrency on the market. After a trial version is online, the product will be fully released on the Klaytn Blockchain in the second half of the year.
As the South Korean news media News1 on August 12 reported that Messenger cocoa conducts its own crypto Wallet one. The wallet with the name “Klip” also supports the company’s own token “Klay”. According to the report, cocoa already launched a test version of the Wallet on the KakaoTalk app. The full version will therefore be published in the second half of 2019.
The listed IT group Kakao Corp., meanwhile, is considered an Internet giant in South Korea. He operates next to the same messenger KakaoTalk also the search engine Daum. In the future, around 50 million users worldwide will have access to the Klip Wallet.
Klip walks on the Klaytn Blockchain
Meanwhile, Klip has developed the cocoa subsidiary GroundX. This is the blockchain wing of cocoa. GroundX CEO Han Jae-Sun said that integrating Wallet into the popular messenger is above all a matter of improving the accessibility of cryptocurrencies to users.
Key features of Klip include finance apps, content creation, and blockchain-based online games that allow users to earn earned tokens. The Wallet also supports other tokens that are connected to the Klaytn Mainnet , on the Klip runs. This also belongs to cocoa.
Klaytn was launched in June 2019 and received $ 90 million in investor funds. Originally, cocoa announced in 2018, want to collect $ 300 million for the launch of its own token. In addition to the development of Klip GroundX also plans a second ICO for Klaytn, which is why the company has its official headquarters in Japan. South Korea is following a strict anti-ICO line.
According to representatives of cocoa Klaytn is apparently 15 times faster than the Ethereum Blockchain. Instead of every 15 seconds – as with Ethereum – the network mints one block every second. The companies that use the Klaytn network, according to media reports to a market value of about 64.8 billion US dollars. Cocoa wants to run up to 34 dApps on Klaytn by October of this year . Apparently, the Klip project is just the beginning of Cocoa’s crypto engagement.
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