One Korean Firm Supposedly Found A Way To Make Blockchain Faster

The latest news around blockchain on our DC Forecasts crypto news site show that a blockchain company based in Korea believes that it has found what it takes to revolutionize the technology behind blockchain – and introduce even quicker paces to the way that transactions are being carried out.

First reported by the local news outlet Joongnag Daily, the blockchain firm SymVerse was established in Korea earlier this year and even hosted an event and held a demonstration on Wednesday, November 28th 2018. The CEO of the company labels its platform as:

“the ideal network to operate decentralized applications. Our network is an all-in-one platform characterized by a multi-blockchain structure, which facilitates higher speeds and functions.”

Based on the report, the company’s blockchain platform can take care of transactions in a quicker way as it does not require smart contracts. The snail-slow speed at which blockchain processes transaction is currently seen as one of the major obstacles to its widespread adoption.

This is why SymVerse is seen as the new revolutionary, effective version of the blockchain technology that is looking to bring complete revolution to the technology, helping to bolster its effectiveness and appeal.

With signups from about 30 companies that will like to launch their applications on the network, the SymVerse network is already getting popular. Its unique identification system known as the ‘SymID’ as well as the potential improvements in speed have attracted many foreign investors.

According to a spokesman for the company:

“SymVerse is the only blockchain company in the world with a Nobel Prize laureate serving as an advisor. All our advisors are very active in providing us with their input on developing our network.”

It is expected that SymVerse’s operations will begin in the first quarter of 2019.