Klaytn Building Metaverse Platform On Substrate in Collaboration with Parity
Powering the decentralized Web @ Parity Technologies
May 25, 2022 in
3 min read
Created in 2019 and based out of Korea, the Klaytn blockchain has achieved significant adoption with a vibrant and growing community around DeFi and NFTs, having partnered with the Bank of Korea and being integrated with KakaoTalk and its over 50 million users. Klaytn is now building on Substrate in collaboration with Parity, which will help the Klaytn team achieve their vision for the metaverse in 2022 and beyond.
Klaytn is a public blockchain developed by internet giant Kakao Corp that aims to be the blockchain of choice for gaming and metaverse projects, as well as the creator economy. Its efforts to build the metaverse infrastructure for interoperability and scale have led to this key strategic collaboration with Parity. Parity and Substrate are perfectly positioned to help Klaytn explore the possibilities of a true multi-chain environment and achieve these goals.
Parity and Klaytn will work together to build a Substrate-based Klaytn chain, Klaytn-Substrate. Klaytn-Substrate will initially serve as an alternate implementation of the Klaytn specification and as a sidechain to Klaytn’s main chain. Klaytn-Substrate will be bridged to Polkadot and to the Klaytn mainnet to act as an intermediary environment where collaborative technological, business case, and community initiatives can combine in interesting and synergetic ways.
Building out feature sets to capture and facilitate gaming and metaverse use cases on Klaytn’s existing mainnet and L2 architecture is still a key Klaytn strategy. However, Klaytn-Substrate can act as a key “canary network” for Klaytn to safely, efficiently, and quickly capture new use cases, new technologies, and provide its community with more options for building great things within the Klaytn ecosystem.
Once the Klaytn-Substrate chain is launched, the tech lead collaboration will continue with the development of new dApps for the chain, as well as porting over multichain launches of existing applications from both the Klaytn and Polkadot ecosystems. Parity and Klaytn’s teams will also work together to expand the network of enterprises building on Klaytn-Substrate, to encourage a diverse array of service providers and a rich and highly functional business ecosystem.
Klaytn’s existing L2 solution (Service Chains) allows businesses to seamlessly create and operate their own customized service-oriented blockchains. With the collaborative effort of the Klaytn-Substrate project, Klaytn is looking to expand its ecosystem capability into other areas and ecosystems as well.
“The collaboration with Parity is in line with our vision to create an interoperable blockchain platform for the metaverse. The Klaytn-Substrate will open up new possibilities for dApps to be developed in a multi-chain environment, to explore collaborative use cases between the Klaytn and Polkadot chains,” shared David Shin, Head of Global Adoption at Klaytn Foundation.
Klaytn has seen increasing demand on its main network as a result of its increased adoption. Substrate is a natural candidate for expansion and exploration, providing the Klaytn ecosystem with an additional stable, upgradable and high-throughput blockchain framework to support its community.
A number of Substrate’s features have given the Klaytn team confidence to embrace it as an additional implementation of the Klaytn vision. Substrate’s customizability means the chain’s performance can be modulated to support applications with higher transaction throughputs, such as many of Klaytn’s DeFi applications. Additionally, using its modular and innately extensible design allows for the addition of new runtime features, customisable consensus and governance, EVM compatibility, and the ability to perform live runtime updates.
Substrate is the optimal SDK for Klaytn’s ecosystem growth ambitions for technical and business use case exploration. Not only does it provide the ability to build a highly customizable and future proof blockchain with its own unique governance model, it also allows Klaytn to rely on a battle-tested framework that takes the guesswork out of deployment.
Using Substrate means Klaytn can customize Klaytn-Substrate in a fast iterative manner to find market fit and drive its vision towards technical exploration. It also provides the ability to synergize Klaytn-Substrate’s unique path with Klaytn’s existing proven network through bridging and interoperability functionality. The ability to easily and seamlessly bridge to Polkadot’s own secure, decentralized and highly interoperable network also makes Substrate a natural choice for Klaytn’s multichain expansion strategy and represents an exciting opportunity for synergy between the Klaytn and Polkadot communities.
This collaboration is built on the shared vision between Klaytn and Parity. Klaytn’s ecosystem expansion will be secured using the performant, intuitive and reliable infrastructure found in Substrate; and Substrate and Polkadot will continue to reach new heights of adoption with the support of Klaytn’s strong and growing community.