According to local news outlet Joongnag Daily, a blockchain company based in Korea believes that it has found what it takes to revolutionize blockchain technology and bring even quicker pace to the way that transactions are being carried out.
SymVerse, a blockchain firm that was established earlier this year, hosted an event and held a demonstration on Wednesday, November 28, 2018. Choi Soo-hyuk, CEO of SymVerse, calls the company’s platform “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 facilitate transactions at a much quicker pace, as its implementation doesn’t require smart contacts. The snail speed at which blockchain processes transactions has been seen as one of the major obstacles to its widespread adoption.