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Parity collaborates with Klaytn to boost its Metaverse growth

May 24, 2022 in Technology, Ecosystem, Corporate

Klaytn has announced a major collaboration with Parity Technologies to help it achieve its vision to become the blockchain of choice for gaming and metaverse projects worldwide.

Klaytn is a modular, open-source public blockchain for both retail and enterprise use-cases, developed by internet giant Kakao Corp and originating as an Ethereum hard fork.

Klaytn specialises in serving people who wish to build, work or play in the metaverse. Its pursuit of key strategic partners has led to this new collaboration with Parity, a team of leading systems engineers behind the globally recognised blockchain network, Polkadot.

Parity, together with its native software development kit (SDK) Substrate, are perfectly positioned to help Klaytn explore the possibilities of a true multi-chain environment.

Parity and Klaytn will work together to build a Substrate-based Klaytn chain, Klaytn-Substrate.

This chain 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, and community initiatives can combine in interesting and synergetic ways.

David Shin, Head of Global Adoption at Klaytn Foundation, said: “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.”

Omar Elassar, VP, Ecosystem Development at Parity Technologies, said: “We’re excited to work with Klaytn to help its onward journey as a major player in the metaverse and gaming.

“The team at Klatyn recognize that Substrate is the optimal SDK for technical and business use case exploration.”

Not only does Substrate 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.

Klaytn-Substrate will 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 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.

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