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According to the local newspaper Joongnag Daily, a blockchain company based in Korea believes it has found what it takes to revolutionize blockchain technology and bring an even faster pace to the way transactions are made.
SymVerse, a blockchain company founded at the beginning of this year, hosted an event and held an event on Wednesday 28 November 2018.
Choi Soo-hyuk, CEO of SymVerse, defines the platform of the company "the ideal network for managing decentralized applications.Our network is an all-in-one platform characterized by a multi-blockchain structure, which facilitates speed and higher functions. "
Based on the report, the company's blockchain platform can facilitate transactions at a much faster rate, as its implementation does not require intelligent contacts. The speed with which the blockchain processes transactions has been seen as one of the main obstacles to its widespread adoption.
However, SymVerse, with its fast and effective version of blockchain technology, is trying to bring the complete revolution to technology, thus helping to strengthen its effectiveness and appeal.
The platform should also have a unique identification system that users can use to set up new accounts using a unique identification system, known as "SymID", allowing in this way to create continuous transfers of balances between various accounts.
The SymVerse network has already seen registrations from around 30 companies that want to launch their applications on the network. Some important potential partners include Hancon Secure, an IT company that has strong ties to the main developer of the office suite in Korea, and Chainflix, a peer-to-peer video sharing platform that offers an opportunity for viewers and Video creators to exploit and earn crypto tokens.
Some foreign investors of the company have also sent videos to congratulate SymVerse for this milestone. The company has taken over the services of Thomas Sargent, a co-winner of the 2011 Nobel Prize for Economics, who will become a project advisor.
A company spokesman said that "SymVerse is the only blockchain company in the world with a Nobel Prize to act as a consultant, all of our consultants are very active in providing our contribution to the development of our network." SymVerse was founded in May and the company published its whitepaper at the start of this month. Transactions are expected to begin in the first quarter of 2019.
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