As per the local news outlet Joongnag every day, a blockchain corporation based in Korea believes that it has discovered what it takes to modernize blockchain technology and produce even faster pace to the manner that transactions are being performed.
A blockchain company, SymVerse that was initiated in advance this year, held an occasion and hosted a protest on November 28, 2018.
The CEO of SymVerse, Choi Soo-hyuk, calls the enterprise’s platform “the correct community to function decentralized programs. Our community is an all-in-one platform characterized with the aid of a multi-blockchain shape, which enables better speeds and features.”
As per the report, the corporation’s blockchain platform can assist transactions at a miles faster pace, as its execution doesn’t require smart contacts. The snail speed at which blockchain methods transactions have been seen as one of the major barriers to its wide-size adoption.
But, SymVerse, with its quick and powerful version of the blockchain era, is looking to bring the whole revolution to the technology, thereby supporting to reinforce its efficiency and appeal.
The platform might also characteristic a completely unique identification device which users can use to set new accounts utilizing a unique identity system, called the ‘SymID,’ thereby making it viable to create seamless transfers of balances between different accounts.
The SymVerse community has already seen signups from about 30 corporations with a view to release their apps on the network. A few remarkable potential partners involve Hancon Secure, an IT company that has strong connections with the leading office suite developer in Korea, and Chainflix, a peer-to-peer video sharing platform that offers an opportunity possibility for viewers and video creators to mine and earns crypto tokens.
Some foreign investors in the organization additionally send videos to congratulate SymVerse on this milestone. The organization has employed the services of Thomas Sargent, a co-recipient of the 2011 Nobel Prize in Economics, who will come on a consultant to the mission.
A spokesman for the corporation claimed that “SymVerse is the only blockchain business enterprise in the world with a Nobel Prize laureate serving as an advisor. All our advisors are active in offering us with their input on growing our network.” SymVerse was set up back in May, and the organization published their whitepaper early this month. It’s anticipated that operations are to be initiated in the first segment of 2019.
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