16.1 C
Amsterdam
2 July 2022
PumpMoonshot
Image default
News

Polkadot Creator Parity to Boost Klaytn’s Metaverse Development


Smart contracts platform Klaytn is going to strengthen its position in the Metaverse segment as a partnership with Parity Technologies is announced. Polkadot’s creator will also support Klaytn’s novel “canary chain.”

Klaytn partners with Parity for Klaytn-Substrate release

According to a press release shared with U.Today, Kakao’s blockchain platform, Klaytn, has partnered with Parity Technologies, the engineering team behind world-leading cross-chain ecosystem Polkadot (DOT).

Klaytn partners Parity for sidechain and metaverse development
Image by Klaytn

Together, the two teams will work on Klaytn’s sidechain, or “canary network.” Built on Polkadot’s proprietery Substrate-based SDK, it will be dubbed Klaytn-Substrate.

Initially, this network will be bridged to Klaytn’s mainnet as well as to Polkadot. Thus, it will serve as an intermediary environment that is able to host collaborative technology and business initiatives

David Shin, head of global adoption at Klaytn Foundation, highlighted that this collaboration will help his product to achieve new goals in the Metaverse segment:

The collaboration with Parity is in line with our vision to create an interoperable blockchain platform for the metaverse. Klaytn-Substrate will open up new possibilities for dApps to be developed in a multi-chain environment, and to explore collaborative use cases between the Klaytn and Polkadot chains.

From Metaverses to multi-chain: New opportunities for partnership

Omar Elassar, VP, Ecosystem Development at Parity Technologies, stresses the crucial importance of this use case for massive adoption of Substrate’s SDK:

We’re excited to work with Klaytn to help its onward journey as a major player in the metaverse and gaming. The team at Klaytn recognize that Substrate is the optimal SDK for technical and business use case exploration.

The new platform will be used for incentivized testing of Klaytn-based designs as well as for multi-chain data exchange between Klaytn and Polkadot.

With future releases, the Klaytn-Substrate platform will host multi-chain launches to accelerate the Metaverse-centric progress of both the Polkadot and Substrate ecosystems.

News Source

Related posts

Cryptocurrency Market Update: Ripple ODL platform raises eyebrows after moving 70 million XRP

PumpMoonshot

Will Dogecoin Price Go Up? | Here Are Some Predictions for 2021

PumpMoonshot

Cardano Price Analysis: ADA drops 30 percent from the previous high, swift reversal to follow?

PumpMoonshot