Korean Telecom Giant KT to Create Its Own Blockchain

The company claims that by the end of the year it expects to reach 10,000 transactions per second thru its blockchain, and in 2019 - 100,000
24 July 2018   796

One of the two largest telecommunication company in South Korea, KT Corporation has launched its own blockchain, intending to use it in various services, including digital identification, data roaming and energy trading.

According to CoinDesk, the company announced the creation of KT Network Blockchain, reported about a throughput of 2,500 transactions per second, achieved through integration into an existing high-speed commercial network.

The company claims that by the end of the year it expects to reach 10,000 transactions per second, and in 2019 - 100,000.

KT said that after launching its new platform, it intends to use the blockchain to authenticate users' IDs, which may be useful for improving international roaming services. The platform will also allow secure transmission of user data to global partners of KT via a distributed network.

At the first stage of the project, it intends to cooperate with China Mobile and Japanese mobile operator NTT DoCoMo, transferring international data roaming to a distributed network.

The company also expects that KT Network Blockchain will begin to play a role in energy trading in the second half of the year and will be used by corporations wishing to exchange unused energy quotas through a distributed network.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   122

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.