World’s leading blockchain project, Klaytn, headed by South Korean Internet hulk Kakao, announced the onboarding of cryptocurrency exchange Huobi onto the Klaytn Governance Council.
Klaytn has been developed by Ground X, the blockchain unit of Kakao. It is an open blockchain platform, the mainnet of which was launched last year. The service-centric blockchain platform provides an innate development environment along with an easy and adaptable end-user experience. Klaytn supports large scale real-world applications to be developed in a short time so that end-users can fully utilize the services without the need of being an expert in blockchain technology or virtual currency.
As part of the Governance Council program, Klaytn collaborates with key firms and businesses. It is the responsibility of all the council members to run the distributed network through shared governance. All the council members share the ownership of the platform and hence together take all the decisions related to business and technical agenda of Klaytn, including operation of the consensus node network. In addition to this, the council members also make efforts to develop applications based on the Klaytn platform and also employing that technology to the existing services of their company. Klaytn Governance Council presently consists of 28 firms, with the likes of LG Electronics, Union Bank of the Philippines, Celltrion, and the newest addition Huobi.
Head of Platform Group at Ground X, Sangmin Seo in his statement said that the company believes that the Governance Council is made up of the most qualified firms who will run the platform by bringing in line their interests with that of the long term development plans of Klaytn. He also expressed his happiness on the addition of a new member to the Council,
We are excited for Huobi to work with other Council members to jointly run and govern the Klaytn platform, as well as create use cases that can foster the development of the global blockchain ecosystem.
Huobi is one of the leading firms in the sector of blockchain and virtual assets. It operates a secure trading platform along with providing crypto-asset management services to users across more than 130 countries around the globe. The multi-chain Huobi Wallet, which is known for its ease of functioning and reliable security supports the digital token of Klaytn, KLAY, and other Klaytn-compatible tokens.
Ciara Sun, Vice President of Global Business at Huobi Group said
The new partnership advances Huobi’s mission to make blockchain technology more accessible to users across the globe. We are looking forward to working closely with other Council members to accelerate the growth of the whole blockchain ecosystem.